Press release
Magnetometer Market Landscape to 2034: Key Forces Shaping the Next Decade of Growth
Magnetometer
How Large Will the Magnetometer Market Size By 2025?
The magnetometer market has seen significant expansion in the recent past. The market is projected to increase from $2.5 billion in 2024 to $2.66 billion in 2025, with a compound annual growth rate (CAGR) of 6.4%. The former growth can be linked to a rise in the utilization of electric vehicles, Augmented investments in the defense and military sectors for magnetic anomaly detection, and surveillance requirements, along with an increased requirement for magnetometers from the consumer electronics sector.
How Big Is the Magnetometer Market Size Expected to Grow by 2029?
Expectations are high for robust expansion in the magnetometer market size over the coming years. The projected growth is set to reach $3.32 billion in 2029 with a compound annual growth rate (CAGR) of 5.7%. Factors contributing to this predicted growth within the forecast period include a rising demand from industries such as aerospace and defense, along with a surge in the application of manometers within the automotive sectors. The forecast period also anticipates significant strides in technology, enhanced advancements in sensor technology, and progress in microelectromechanical system (MEMS) technology.
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Which Key Market Drivers Powering Magnetometer Market Expansion and Growth?
The magnetometer market's expansion is anticipated to be fueled by an increasing demand for electric cars. Electric vehicles, which are entirely powered by electricity, typically employ one or more electric motors and rechargeable batteries for propulsion. In these cars, magnetometers are utilized to enhance precise navigation and orientation, helping to fuse sensors with gyroscopes and accelerometers. For example, the International Energy Agency, a France-based intergovernmental organization, reported in April 2023 that total electric car sales rose from 6,500,000 in 2021 to 10,200,000 in 2022. As a result, the escalating demand for electric cars is spiraling the growth of the magnetometer market.
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Which Emerging Trends Are Transforming the Magnetometer Market in 2025?
Leading enterprises in the magnetometer market are pioneering new products, such as AMR magnetometer sensors, to bolster their market earnings. An AMR (Anisotropic MagnetoResistive) magnetometer sensor is an apparatus that monitors magnetic fields by noting alterations in resistance as a result of the magnetic field lines' alignment in relation to the sensor's material. For example, in February 2023, US-based semiconductor specialist MEMSIC Inc. released the AMR magnetometer MMC5616WA. These magnetometers provide superior features for a wide range of applications, including automotive, industrial, and consumer electronics, offering smart and secure measurement of physical motion and displacement. For their dependable and astute detection abilities, these sensors are indispensable in fields like medical, wearable technology, and smart home applications.
What Are the Emerging Segments in the Magnetometer Market?
The magnetometer market covered in this report is segmented -
1) By Type: Scalar Magnetometer, Proton Precession, Fluxgate, Vector Magnetometer, Optical Pumping, Other Types
2) By Form Factor: Portable, Fixed
3) By Application: Navigation, Space Exploration, Medical Devices, Geophysics And Mining, Industrial Automation, Other Applications
4) By Industry Vertical: Aerospace And Defense, Automotive, Consumer Electronics, Healthcare, Industrial, Other Industries
Subsegments:
1) By Scalar Magnetometer: Total Field Magnetometers, Proton Magnetometers, Overhauser Magnetometers
2) By Proton Precession: Portable Proton Magnetometers, Fixed Proton Magnetometers, Marine Proton Magnetometers
3) By Fluxgate: Single-Axis Fluxgate Magnetometers, Three-Axis Fluxgate Magnetometers, Miniature Fluxgate Sensors
4) By Vector Magnetometer: Three-Component Vector Magnetometers, Airborne Vector Magnetometers, Laboratory Vector Magnetometers
5) By Optical Pumping: Alkali Vapor Magnetometers, Helium-4 Magnetometers, Potassium Optical Magnetometers
6) By Other Types: Cryogenic Magnetometers, Induction Coil Magnetometers, SQUID (Superconducting Quantum Interference Device) Magnetometers
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Who Are the Global Leaders in the Magnetometer Market?
Major companies operating in the magnetometer market report are Robert Bosch GmbH, Honeywell International Inc., Asahi Kasei Corporation, STMicroelectronics N.V., Infineon Technologies AG, NXP Semiconductors, Master Magnetics Inc., Lake Shore Cryotronics Inc., Cryogenic Limited, Institut Dr. Foerster GmbH & Co. KG, PCE Instruments Limited, Scintrex Limited, Gem Systems Inc., Apogee Instruments Inc., VectorNav Technologies, Metrolab Technology SA, Senis AG, Tristan Technologies Inc., Group3 Technology Ltd., AlphaLab Inc., Geonics Ltd., Marine Magnetics Corp., Metronix GmbH, Nucrypt LLC, Bartington Instruments Ltd
Which are the Top Profitable Regional Markets for the Magnetometer Industry?
North America was the largest region in the magnetometers market in 2024. The regions covered in the magnetometer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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