Press release
On-Board Magnetic Sensor Market is expected to show growth from 2024 to 2030, reported by Maximize Market Research
On-Board Magnetic Sensor Market
On-Board Magnetic Sensor Market Overview
The On-Board Magnetic Sensor is a small device that detects magnetic fields by measuring their strength and direction using the Hall Effect. It is commonly used in automotive, industrial, and consumer electronics for tasks like position, speed, and proximity sensing. These sensors are prized for their compact size, low energy use, and robustness, making them perfect for motor controllers, navigation systems, and motion trackers.
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On-Board Magnetic Sensor Market Drivers
The consumer electronics sector is seeing a rise in demand for on-board magnetic sensors, used in device orientation, auto-rotate, and gesture recognition features. These sensors are also gaining popularity in high-precision navigation systems in the automotive industry, providing accurate readings for vehicle position and movement. The market is expected to expand thanks to these key benefits, with government initiatives promoting electric and hybrid vehicles driving further adoption. Additionally, energy harvesting systems and the gaming industry are also fueling the growth of on-board magnetic sensors. Market growth may be hindered by various factors, including the challenge of unpredictable magnetic fields. The high cost of manufacturing magnetic sensors limits their use in price-sensitive markets. Integrating these sensors into existing systems is complicated and requires specialized skills. Some sensors have limited functionality and durability, especially in harsh conditions or under stress.
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On-Board Magnetic Sensor Market Regional Analysis
The China on-board magnetic sensors market is experiencing significant growth due to increased demand from the automotive sector, particularly in electric vehicles. These sensors are used for various functions such as position sensing, speed sensing, and direction sensing. The growing smartphone adoption in China is expected to further boost the demand for on-board magnetic sensors. China's commitment to reducing car exhaust emissions and reliance on oil imports is driving the sales of electric cars in the country, with one in every four new automobiles sold being an EV. In Japan, the on-board magnetic sensors market is expected to see steady growth supported by a demand for cutting-edge technology in the automotive sector, with government support for innovative technology adoption. Japan is also a leader in the adoption of electric vehicles globally. South Korea is also witnessing an increasing adoption of electric vehicles and the demand for safety features, with tax credits and subsidies from the government further promoting the market growth for on-board magnetic sensors in the country.
Recent Developments:
In March 2023, Infineon Technologies debuted NGC1081, enabling affordable, tiny, intelligent edge computing/sensing devices for IoT industry.
In March 2023, Melexis NV released two pressure sensor ICs with enhanced durability against abrasive materials, completing the PCB-less platform.
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Regional analysis of On-Board Magnetic Sensor Market
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest)
On-Board Magnetic Sensor Market Segmentation
by Type
Hall Effect Sensors
SQUID Sensors
Magnetoresistive Sensors
Others
by Magnetic Density
Low-Field Sensors (10 Gauss)
by Vertical
Automotive
Healthcare
Consumer Electronics
Aerospace & Defense
Industrial
Others
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On-Board Magnetic Sensor Market leaders
Infineon Technologies
Asahi Kasei Microdevices
TDK Corporation
Sanken Electric
Melexis NV
Murata Manufacturing
TE Connectivity
Honeywell International
Austria Mikro Systeme (AMS) AG
Sensoronix
NXP Semiconductors N.V.
Macome
Memsic
Sensitec
Kohshin Electric
Key questions answered in the On-Board Magnetic Sensor Market are:
Which region has the largest share in Global market?
What is the growth rate of Global market?
What is scope of the Global market report?
Who are the key players in Global market?
What is the study period of this Market?
Key Offerings:
Past On-Board Magnetic Sensor Market Size and Competitive Landscape (2018 to 2022)
Past Pricing and price curve by region (2018 to 2022)
On-Board Magnetic Sensor Market Size, Share, Size & Forecast by Different Segment | 2024-2030
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by
Region
Market Segmentation - A detailed analysis by segment with their sub-segments and Region
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of Business by Region
Lucrative business opportunities with SWOT analysis
Recommendations
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About Maximize
Maximize Market Research is a global Market research and consulting company that provides businesses with insights to foster their growth and competitive advantage. The company specializes in delivering actionable and data-driven research reports tailored to help organizations make informed decisions. With a team of experienced analysts and consultants, Maximize Market Research offers expertise across multiple industries, including healthcare, technology, manufacturing, consumer goods, and more. Their services cover Market sizing, forecasting, competitive analysis, and customer insights, helping clients to address their strategic needs and identify emerging trends. The company emphasizes client success, offering detailed analysis and recommendations that support business transformation and operational excellence. Maximize Market Research also provides custom research services, allowing businesses to get solutions specific to their Market challenges. With a strong global presence, the company serves clients from various sectors, ensuring they stay ahead in a rapidly evolving Market landscape.
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