Magnetic Sensor Market is expected to grow at a CAGR of over 4%, during the forecast period of 2018-2023| Dominant Players - ALLEGRO MICROSYSTEMS, ANALOG DEVICES, CROCUS TECHNOLOGY, HONEYWELL INTERNATIONAL INC., INFINEON TECHNOLOGIES AG, MURATA MANUFACTUR

Market Analysis:

United States to Hold Major Market Share During the Forecast Period

A significant rise in demand for electric vehicles has been observed in the country, owing to energy and environmental concerns, rapid decline in battery costs, rising commitment from major car makers, strong policy support from state and local governments, and low operational costs have put electric vehicles (EVs).

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The high usage of magnetic sensors in new navigation devices, presence detection (building automation related applications), medical areas and automotive is leading to a paradigm shift in the magnetic sensors market worldwide. As the efficiency and capabilities of these sensors improve over the time and their enhanced ability to measure without physical contact is leading to their crucial application in electronic systems. Due to the increasing purchasing power of the millennial population, there is a continuous demand for passenger cars and electric vehicles which are expected to drive the market.

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Market Segments:
Magnetic Sensor Market is segmented by:
1. Technology: Hall Effect, AMRs, GMRs, TMRs, Others
2. End User Vertical: Automotive, Consumer Electronics, Industrial Applications (apart from Automotive), Others
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in Magnetic Sensor Market

• December 2017: Infineon rolled out various design kits at about 20 Euro each for an easy evaluation of its sensors as part of its Product2System approach.

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