Magnetometer Market Global Research Analysis 2018 to 2024 On Infineon Technologies AG, Honeywell International, Inc., NXP Semiconductors N.V., Bartington Instruments Ltd & More

Market Study Report recently introduced new title on “2018-2024 Global Magnetometer Market Report” that provides an in-depth overview of industry and competitive landscape, covering multiple market segments and elaborates market outlook and status to 2024.

The magnetometer market share would witness a massive upsurge in the ensuing years escorted by an increase in demand for three-dimensional magnetometers. Driven by the fact that these devices have a cost-effective design, low current consumption, and more precise & robust design, they are extensively used across diverse applications. Despite being a potentially newfangled technology 3D nanomagnetism is utilized in several aspects in biomedicine, data storage, and sensing.

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Scope of Report

Endowed with a widespread application landscape, magnetometer market has been traversing alongside an extremely lucrative growth path since the last few years. Seamless enhancement in magnetometer market size is attributed to the budding application of these instruments in archaeological sites for finding buried or submerged objects. In addition, they are used in several applications such as spotting depressed ships, mineral deposits, and submarines.

Some out-of-the-box magnetometer applications include geographical surveys and space explorations, for detecting geological structures and evaluating pipelines to detect corrosion in underground arrangements. In the years to come, the expansive use of magnetometers in several domains like aviation, defense, and military will overtly propel industry growth.

A host of technological advancements in magnetometer devices that augment their features are expected to act as a trigger for the growth of this market. Magnetometers powered by built-in GPS, that provide integrated and flawless location tracking, are profoundly gaining popularity. Another growth on-setter would be the magnetometer?s ability to adequately address geophysical problems.

The escalation in smartphone usage is a vital driving force for magnetometer market, owing to the popularity of applications such as maps and augmented reality. The furor of miniaturization has indeed enhanced the product utility in smartphones, thereby impelling the magnetometer market growth.

An array of design challenges encumber the magnetometer market growth, including optimization of noise, linearity, sensitivity, dynamic range, and hysteresis. Minor deviation in the sensor readings can accrue losses in applications that are meant to detect natural hazards and calamities. The challenges encountered by the designers in building magnetometers appropriate for expanding the application spectrum of these devices may slightly hinder the magnetometer market growth.

Vector magnetometers that have an edge over scalar magnetometers will experience a hike in market demand accredited to commendable measurement precision, However, the adoption of scalar magnetometers in volcanology applications will also add an extra push to the market growth.

Top Manufacturers in global market are given bellow: Infineon Technologies AG, Honeywell International, Inc., NXP Semiconductors N.V., Bartington Instruments Ltd., Cryogenic Limited, Institut Dr. Foerster GmbH & Co. KG, STMicroelectronics N.V., Lockheed Martin Corporation, and Robert Bosch GmbH

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The comprehensive applicability of magnetometers is quite vividly evidenced by the ongoing developments in the industry. Having said that, it is imperative to mention that the addition of features and a paradigm shift from standard phones to smartphones are likely to provide promising opportunities for magnetometer market players over the coming years. The magnetometer market has already established a strong footprint across various industries and is expected to grow exponentially in future.

The above information is provided on a regional and country basis for the following: U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Netherlands, Poland, China, India, Japan, South Korea, Australia, Indonesia, Vietnam, Brazil, Mexico, Argentina, Colombia, Saudi Arabia, UAE, South Africa

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