Magnetic Sensors Market Size, Status And Growth by Global Key Players: Infineon Technologies AG, Analog Devices, Crocus Technology, Honeywell International Inc

Global Magnetic Sensors Market report provides an in-depth analysis of the key market insights, its future trends and developments, profiles of leading players, key restraints and drivers, segmentation and forecasting. The report highlights the market size and CAGR of the important segments, thus providing quick relevant information of the global market. The report consists of several aspects that affect the growth of the Magnetic Sensors market. It also offers an excellent growth opportunity for the new entrants and assisting them to get more profit.

The global magnetic sensor market was valued at USD 2376.48 million in 2020, and it is expected to reach a value of USD 3586.66 million by 2026, registering a CAGR of 6.51% over the forecast period 2021 - 2026.

The high usage of magnetic sensors in new navigation devices, presence detection (building automation-related applications), medical areas, and the automotive sector are leading to a paradigm shift in the magnetic sensors market around the world.

- The increase in demand for IIoT and the production of consumer electronics, electric and hybrid vehicles, and high-quality sensing devices, globally, are influencing the adoption of magnetic sensors across several end-user industries. This is expected to drive the growth of magnetic sensors during the forecast period.

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The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:

Infineon Technologies AG, Analog Devices, Crocus Technology, Honeywell International Inc., Allegro Microsystems (Sanken Electric Company), Murata Manufacturing Co. Ltd, NVE Corporation, NXP Semiconductors NV, Omron Corporation, ST Microelectronics NV, TDK Corporation, TE Connectivity, Texas Instruments Inc.

Regional and Country-level Analysis

The report offers an exhaustive geographical analysis of the global Magnetic Sensors market, covering important regions, viz, North America, Europe, China and Japan. It also covers key countries (regions), viz, U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Philippines, Vietnam, Mexico, Brazil, Turkey, Saudi Arabia, U.A.E, etc.

Strategic Points Covered in TOC:

Automotive Industry to Hold Largest Share of the Market

- In the case of automotive applications, GMR and TMR sensors have demonstrated less power consumption than mW and W during continuous operation. They are also easily accommodated in package sizes less than their counterparts. Thus, they are finding increasing deployment in auto parts.

- The demand for magnetic sensors is anticipated to increase in the automotive industry. Sensing devices are increasingly being used in this industry to improve vehicle convenience and fuel efficiency. Also, mandatory regulations by government bodies, such as the installation of safety equipment and sensing elements in automobiles, are estimated to create significant opportunities for the growth of the market studied.

- Magnetic sensor vendors are focusing on providing efficient devices, which can serve an extensive range of automotive applications. The increase in demand and penetration of electric vehicles and hybrid electric vehicles and the use of GPS in automobiles may also fuel the demand for magnetic sensors from the automotive industry.

- Moreover, hall and GMR-based magnetic sensors are increasingly being used for motorcycles, three-wheel, and all-terrain vehicle applications. These sensors are being developed for switching applications in these vehicles, as well as the position and speed measurement for lightweight construction and reduced battery operation space, weight, and power consumption in electric vehicles.

Competitive Landscape

- November 2019 - Allegro MicroSystems launched the ATS17051, one of the first gear tooth sensor ICs designed to provide incremental position for electric vehicle traction motors operating up to 30k RPM. The device addresses the engineers' traction motor challenges, which include vibration at startup and running mode, high rotational speed, mechanical space constraints, high operating temperatures, and ISO 26262 safety requirements.

- June 2019 - Infineon Technologies AG expanded its sensor portfolio by a new AMR-based angle sensor, which is aimed at providing high accuracy in low magnetic fields. The XENSIV TLE109A16 product line is designed to address the need for very precise, fast, and cost-efficient angle measurement at one of the high functional safety levels in automotive and industrial applications.

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Magnetic Sensors Marketing Analysis and Strategies Carry Out as below:

The report elucidates a gist of the tried-and-tested as well as innovative strategies undertaken by potential stakeholders with regards to the marketing of the product.
The sales channels chosen (that include direct as well as indirect marketing) by the companies are briefly enumerated in the Magnetic Sensors market report.
The distributors of these products and a gist of the top-of-the-notch customers for the same are also encompassed in the study.
The report is inclusive of the pivotal driving forces influencing the commercialization landscape of the Magnetic Sensors market and their impact on the revenue scale of this business sphere.
The rising product demand from the key geographies as well as the pivotal applications and potential business arenas are also included in the Magnetic Sensors Market report.

Note: All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

Irfan Tamboli (Head of Sales) – Market Insights Reports
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irfan@marketinsightsreports.com

MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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