Current Advances in Magnetometer Market | Opportunities & Challenges – Key Players are Honeywell, Infineon Technologies, NXP Semiconductors N.V., Bartington Instruments., Lockheed Martin, Cryogenic Limited

The Magnetometer Market study focuses major leading industry players with information such as company profiles, product picture and specification, capacity, production, price, cost, revenue and contact information. It provides information on trends and developments, and focuses on markets and materials, capacities and technologies, and on the changing structure.

The surge in the use of smartphones in the recent years has triggered the magnetometer market growth. Sophisticated smartphone applications, such as augmented reality or maps, use the measurement of the earth’s magnetic fields to chalk out the orientation of the phone. The sensors in smartphones utilize solid state technology for identifying the earth’s magnetic field along three perpendicular axes. The trend of miniaturization of electronics is further encouraging its use in smartphones, thereby boosting the magnetometer market growth.

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The booming energy sector globally will contribute to the magnetometer market growth. They can be used for coal, mineral, and oil & gas explorations. Oil & natural gas exploration companies use magnetometers for the precise detection of the resources. Airborne magnetometer surveys are used for the detection of near-surface hazards that are hard to resolve in the seismic data. The use of these instruments for mineral exploration will aid the magnetometer industry growth. The expanding oil & gas industry will provide growth opportunities to the industry. High sensitivity magnetometers that enable fast mineral detection is expected to gain popularity over the coming years.

The demand for vector magnetometers that ensure higher accuracy than scalar ones will boost the magnetometer market growth. The orientation of vector magnetometers can affect the measurement precision of the magnetic anomaly, thereby swelling the localization error of a magnetic target. As compared to vector magnetometers, the measurement in scalar magnetometers is not influenced by its orientation. The use of scalar magnetometers by research installations that are engaged in volcanology applications will further support the magnetometer industry growth. By using a fluxgate magnetometer and an overhauser magnetometer, the field direction data can be gathered with a high degree of absolute precision.

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The magnetometer market in Asia Pacific will experience growth attributed to the consumer electronics industry coupled with rapid industrialization in countries including China, Japan, and India. Magnetometers are used for effective healthcare monitoring in cardiac applications such as the diagnostic system for non-invasive measurement of heart functions. The developing healthcare sector in Japan demanding high-quality monitoring systems will support the industry growth. The military & defense sectors in countries including China and India adopting sophisticated machines for performing submarine activities will contribute to the industry growth.

The key players operating in the magnetometer market include Honeywell International, Inc., Infineon Technologies AG, NXP Semiconductors N.V., Bartington Instruments Ltd., Lockheed Martin Corporation, Cryogenic Limited, Institut Dr. Foerster GmbH & Co. KG, ST Microelectronics N.V., and Robert Bosch GmbH.

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