Press release
Magnetic Sensors Market Brief Analysis By Top Key Players - Elmos Semiconductor, Baumer Ltd, NVE Corporation, Allegro Microsystems, Melexis Corporation and NXP Semiconductors
Magnetic Sensors Market
According to the latest market report published by the company titled ‘Magnetic Sensors Market: Global Industry Analysis and Forecast, 2017 – 2026,’ the global Magnetic Sensors Market is projected to reach US$ 4,680.3 Mn by the end of 2026 and grow at a CAGR of 8.2% during the forecast period.
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Major Key Players:
• Elmos Semiconductor AG,
• Baumer Ltd.,
• Honeywell International, Inc.,
• Robert Bosch GmbH,
• NVE Corporation,
• Allegro Microsystems, Inc.,
• Infineon Technologies AG,
• Melexis Corporation,
• austriamicrosystems AG (AMS),
• NXP Semiconductors
The growing acceptance of e-compasses owing to their competence to improve the navigation experience of the users’ is anticipated to mount the application of magnetic sensors in automobiles during the coming years. Moreover, the implementation of these sensors is rising in consumer electronics application such as smart phones, and tablets, which is expected to propel the opportunities of magnetic sensors in the consumer electronics segments during the forecast period.
In the end-user segment, for consumer electronics market for magnetic sensors is anticipated to grow at the highest CAGR during the forecast period. This growth is attributed to its wide usage for navigation purpose in smartphones as in the modern day, almost every smartphone is integrated with e-compass. In smartphones, e-compass acts as a digital compass providing positioning of the smartphone concerning Earth’s magnetic field thus, facilitating the smartphone to sense the precise direction.
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The market in Asia Pacific and Europe together contributed the highest share. The presence of large automotive sector in European countries and consumer electronics manufacturers in Asia Pacific is bolstering the market growth. The emerging economies of Asia Pacific region such as China, India and other Southeast countries are contributing to the market growth with the increasing spending capability of population resulting in increased demand for consumer electronics, cars, gaming devices and others. For instance, sale of cars in China surpassed the sales of US. Also, the semiconductor industry of Asia Pacific region is growing at a high pace thus, propelling the market growth for magnetic sensors.
Key Findings from the study suggest Asia Pacific and European region is expected to command the market over the forecast years. APAC is presumed to be the fastest growing market, developing at a CAGR of more than 38% over the forecast period. The magnetic sensors market is presumed to develop at a CAGR of over 8.2% from 2018 to 2026. The consumer electronics and automotive segment is presumed to display the speediest development. The increasing implantation of magnetic sensors in several consumer electronics including budget smartphones, as well as growing demand for smart watches and fitness bands is driving the growth in APAC region.
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About Polaris Market Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.
Contact us
Mr. Neel
Corporate Sales, USA
Polaris Market Research
Phone: 1-646-568-9980
Email: neel@polarismarketresearch.com
Web: www.polarismarketresearch.com
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