Press release
Magnetic Sensors Market 2021 to Witness Stunning Growth-Infineon Technologies AG, Analog Devices, Crocus Technology
Magnetic Sensors Market by Component, Application, Services, and Region- Forecast to 2026The Global Magnetic Sensors Market Research Report 2021-2026 published by Market Insights Reports is a significant source of keen information for business specialists. It furnishes the Magnetic Sensors business outline with development investigation and historical and futuristic cost analysis, income, demand, and supply information (upcoming identifiers). The research analysts give a detailed depiction of the Magnetic Sensors worth chain and its wholesaler examination. Magnetic Sensors Market study gives extensive information which upgrades the agreement, degree, and use of this report.
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.
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Top Leading Companies of Magnetic Sensors Market are 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., Investment Analysis and others.
-Magnetic Sensors Market Analysis
-Industry News And Updates on Magnetic Sensors Market-
Asia-Pacific to Hold the Largest Share of the Market Studied
- China is one of the most promising automotive and consumer electronics manufacturing nation, globally. Due to increased use of applications, such as anti-braking system (ABS) and anti-locking system, where magnetic sensors are widely utilized, the automobile industry holds an important position in the market in this region.
- Moreover, Japan is a supplier of industrial robots and their components, such as reducers, servo motors, and various sensors, to the world. The developments in industrial robots, of late, involves precision in positioning accuracy. It further requires accurate detection of joint angles, where magnetic sensors play a key role.
-Key Market Trends Magnetic Sensors Market-
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.
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