Press release
Competitive Landscape: Key Market Leaders and Emerging Competitors in the On-Board Magnetic Sensor Industry
On-Board Magnetic Sensor Market
Projected Market Size and Growth Prospects of the On-Board Magnetic Sensor Market
The on-board magnetic sensor market is expected to reach a valuation of $2.45 billion by 2030, growing at a compound annual growth rate (CAGR) of 8.2%. This robust growth is fueled by the increasing demand for highly precise magneto resistive sensors, the widening use of sensors in autonomous vehicles, advancements in low-field magnetic detection technologies, and the rising application of magnetic sensors in medical imaging. Furthermore, the integration of magnetic sensing in robotics is accelerating market expansion. Key trends anticipated during this period include the adoption of IoT-enabled magnetic sensing modules, deployment of autonomous position-sensing systems, development of intelligent industrial magneto-detection solutions, AI-driven magnetic field analysis improvements, and the creation of cloud-connected magnetic monitoring platforms.
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Primary Companies Leading the On-Board Magnetic Sensor Industry
Several influential companies hold prominent positions in the on-board magnetic sensor market. These include Honeywell International Inc., Asahi Kasei Microdevices Corporation, Texas Instruments Incorporated, Infineon Technologies AG, TE Connectivity Ltd., STMicroelectronics NV, TDK Corporation, Murata Manufacturing Co. Ltd., NXP Semiconductors N.V., Analog Devices Inc., Alps Electric Co Ltd., ams OSRAM AG, Littelfuse Inc., Diodes Incorporated, Sanken Electric Co Ltd., Melexis NV, Allegro Microsystems Inc., Pepperl+Fuchs GmbH, ABLIC Inc., MEMSIC Semiconductor Co. Ltd., and Sensitec GmbH.
Strategic Acquisition Strengthening Market Position
In November 2023, Allegro MicroSystems Inc., a UK-based tech firm, acquired Crocus Technology for $420 million. This acquisition accelerates Allegro's roadmap for tunnel magneto-resistance (TMR) technology and reinforces its leading presence in the magnetic sensing sector. It reflects Allegro's strong commitment to maintaining leadership in this field and is expected to position the company as a top TMR semiconductor provider by leveraging growth opportunities in sectors like e-mobility, clean energy, and automation. Crocus Technology, headquartered in the US, specializes in advanced magnetic sensor products based on TMR technology.
View the full on-board magnetic sensor market report:
https://www.thebusinessresearchcompany.com/report/on-board-magnetic-sensor-global-market-report
Key Market Drivers Supporting On-Board Magnetic Sensor Expansion
Leading companies in the on-board magnetic sensor space are focused on creating innovative solutions that provide highly accurate angle and position detection for automotive, industrial, and robotics applications. Magnetic sensors operate by detecting and measuring magnetic fields and converting fluctuations in magnetic flux into electrical signals to calculate position, rotation, speed, or angle.
Take, for example, Littelfuse, a US-based electronics firm, which in August 2025 expanded its magnetic sensor lineup with high-precision TMR angle sensors. These new sensors offer improved accuracy, reliability, and durability, enhancing capabilities in electric vehicles, autonomous machinery, and industrial automation. Such advancements support the ongoing trend toward smarter, safer, and more efficient systems by boosting real-time monitoring and control.
Emerging Trends in the Global On-Board Magnetic Sensor Market
Innovation continues to shape the on-board magnetic sensor market, with companies emphasizing solutions that integrate cutting-edge technologies to meet evolving customer needs. The trend towards IoT integration, AI-enhanced magnetic field analysis, and cloud-based monitoring platforms demonstrates the increasing sophistication and connectivity of magnetic sensor systems.
For instance, the development of autonomous position-sensing and intelligent industrial magneto-detection solutions highlights how the market is moving toward more automated and intelligent applications, creating new opportunities for growth and technological advancement.
Defining Segments in the On-Board Magnetic Sensor Market
This market is categorized across several primary segments:
1) By Type: Hall Effect Sensors, SQUID (Superconducting Quantum Interference Device) Sensors, Magneto Resistive Sensors, and Other Types.
2) By Magnetic Density: Low-Field Sensors (10 Gauss).
3) By Vertical Industries: Automotive, Healthcare, Consumer Electronics, Aerospace and Defense, Industrial, and Other Verticals.
Further detailed classifications include:
- Hall Effect Sensors subdivided into Linear, Rotary, and Digital Hall Effect Sensors.
- SQUID Sensors divided into DC SQUID and RF SQUID Sensors.
- Magneto Resistive Sensors split into Anisotropic Magneto Resistive (AMR), Giant Magneto Resistive (GMR), and Tunnel Magneto Resistive (TMR) Sensors.
- Other sensor types include Fluxgate, Inductive, and Magnetoelastic Sensors.
This comprehensive segmentation offers a detailed understanding of the market's structure and highlights the diverse applications and technologies fueling its growth worldwide.
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