Magnetic Field Sensor Market Demand and Growth Forecasts Analysis By MEMSIC, Honeywell International, Analog Devices, Tower Semiconductor, MELEXIX N.V, Sanken Electric, NVE Corporation

The Global Magnetic Field Sensor Market is expected to grow at USD ~6 billion by 2023 at a CAGR of ~8% during the forecast period 2017-2023. The emergence of wearable technologies and the increasing role of magnetic flux sensors in applications are few driving factors for the growth of magnetic field sensor market magnetic field sensor market in this region has a huge demand due to the growing investment in smart devices, which is propelling the market growth to a large extent.

Global Magnetic Field Sensor Market Research Report, By Type (Hall Effect Sensors), Range (1 Micro gauss, 1 Micro gauss–10 Gauss), Applications(Speed Sensing, Flow Rate Sensing), End-User - Forecast to 2023

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Overview:

Magnetic Field Sensor, in recent years, has evolved into an integral component for many end-user industries such as automotive, homeland security, healthcare, electronics industry, and defense industry. Using the ‘Hall Effect’ transducer and other sensing methods, magnetic field sensor studies the magnetic field around the coil, electrical device, and other magnets. Market Research Future (MRFR)in its extensive report asserts that magnetic field sensor’s far-flung utility can trigger an astonishing CAGR of 8% riding on which it can scale the USD 6 billion market during the forecast period (2017-2023).

Magnetic Field Sensor Market 2018 Research Report – Global Industry Forecast to 2023, is latest research report on Global Magnetic Field Sensor industry published by Market Research Future. Report provides comprehensive information on Global Magnetic Field Sensor Market forecast, historic data, with business development strategies, upcoming opportunities, and regional outlook.

The global magnetic field sensor market is spanned across Americas, Europe, Asia Pacific, and Rest of world. North America dominates the magnetic field sensor market. The growing demand of magnets and electromagnets which is widely used in automotive and telecom sectors are boosting growth of magnetic field sensor market in this region. The increasing demand of sensors is extensively used in various applications including speed sensing, flow rate sensing, detection, position sensing, and others. In April 2017, Asahi Kasei MicroDevices had announced its product release of 3-axis magnetic sensor for internet of things to captures magnetic fields with vector components.

Prominent Key Players:

Some of the prominent players in the global magnetic field sensor market Honeywell International Inc. (U.S.), Asahi Kasei MicroDevices (Japan), Sanken Electric Co., Ltd. (Japan), MEMSIC Inc. (U.S.), Analog Devices, Inc. (U.S.), TDK Corporation (Japan), ams AG (Austria), NVE Corporation (U.S), Robert Bosch GmbH (Germany), Infineon Technologies (Germany), NXP Semiconductors N.V (Netherlands), Tower Semiconductor Ltd. (Israel), Crocus Technology (U.S), TE Connectivity Ltd. (Switzerland), MELEXIX N.V (Belgium), Allegro MicroSystems, LLC (U.S.), Kohshin Electric (Japan), PASCO Corporations (Japan), and others.

Driver and Restraints:

Technological advancements have triggered a shift in a lifestyle where consumers now depend much on health monitoring devices, smart watches, and phones. Their upticking popularity is riding the graph along with the trend of adopting consumer wearable devices. At the same time, giant magnetoresistance (GMR) film on magnetic field sensors is gaining grounds faster which allows detection and deciphering of data from microelectromechanical systems (MEMS), such as hard drives, temporary memory processing units, and MRAMs.

The automotive industry also has much to explore regarding magnetic sensors capability to improve vehicles’ fuel efficiency, convenience, and safety. In addition, the industry is all set to gain from the government drawing favorable regulations to encourage people to buy electric vehicles (EVs) where the magnetic sensors are needed to monitor secondary motor inverters.

However, huge implementation cost coupled with the long developmental process can pull back the market considerably. But this can only impact the market briefly. Its multifarious role has gained so much traction that the market cannot stay lull for long.

Industry Trend:

The sector has sparked interest among quite a few industries who are now sponsoring further research and developments. Researchers from the Autonomous University of Barcelona have recently proposed building a spherical magnet that while working will not distort the magnetic field.

Researchers at Kiel University are developing a sensor that can read sensitive pulses. Once manufactured, this sensor can revolutionize the healthcare segment as it can help in the proper diagnosis of heart and brain.

In the U.S., researchers have recently unveiled a new type of magnetometer that has diamond impurities in it which enhances its precision and empowers it by 1000 times than the previous diamond-based magnetometers.

Segmentation:

The global magnetic field sensor market is segmented into type, range, applications, and end-users.

Type-based segmentation includes hall effect sensors, magnetoresistive sensors, SQUID sensors, fluxgate sensors, and others.

Based on application, the market is sub-segmented into speed sensing, flow rate sensing, detection, position sensing, navigation and electronic compass and others.

On the basis of end-users, the market includes transportation, consumer electronics, BFSI, healthcare, aerospace & defense, industrial and other sectors. Consumer electronics is currently leading the market driven by motion gaming device segment and rising navigational features in smart phones.

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Regional Analysis:

Geographically, the market spans across North America, Europe, Asia Pacific, and Rest-of-the-World (RoW).

North America is currently setting the trends. With a huge market that is involved in radically improving smartphones and gadgets and an automotive sector regaining lost grounds, the region is fueling enough demand for the magnetic sensors.

Europe is following the lead. Well-structured industries such as BFSI and healthcare are creating demand for magnetic sensors and earning revenues for the market.

The APAC is the fastest growing region. China, India, and Japan are showing an unprecedented demand for automotive and smart gadgets. This is directly boosting the magnetic sensor market. Furthermore, the renewable energy sector is also giving the market a much-needed boost.

Market Dashboard:

The burgeoning market is also emerging as a competitive one due to mergers and acquisitions reshaping the demography continually. For instance, TDK Corporation acquired InvenSense, Inc. recently in a bid to improve its current market position.

Intended Audience:

Magnetic field sensor companies
Magnetic field sensor providers
Technical universities
System integrators
Managed Security Service Providers
Professional service providers
Research and development companies
Market research and consulting firms
Solution providers
Technology standards organizations
Technology investors
System Integrators
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Table of Contents

Report Prologue
Introduction
Definition
Scope Of The Study
Research Objective
Assumptions
Limitations
Market Structure
Continued…

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