Press release
Magnetic Field Sensors Market Size to Expand Significantly by the End of 2020
Magnetic field sensor is a device used to study the magnetic field around coil, electrical device and around permanent magnets. Magnetic field sensors consist of rotating sensor tip which measures both transverse and longitudinal magnetic fields around the objects. Magnetic sensor uses “Hall Effect” (produces voltage difference across electrical conductor, transverse to electric current) transducer that measures vector component of magnetic field near the sensor tip. Magnetic field sensor measures two range of magnetic field. Firstly, measures strong magnetic fields around permanent magnets and electromagnets. Secondly, measure weak magnetic fields such as Earth’s magnetic field.
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North America has the largest market for magnetic field sensor technology, followed by Europe and Asia Pacific. The U.S. and Japan are the two major markets for magnetic field sensing technology. Asia Pacific region is expected to witness highest growth in forecasted period owing to increasing domestic automotive demand in the emerging markets of India and China.
Encouragement from the government for using eco-friendly vehicle is driving the global magnetic field sensor market. Additionally, developments in the field of automobile infotainment systems are expected to drive the global magnetic field sensor market to some extent. Also, demand in gaming consoles, increasing popularity of electronic compasses, and continuous demand for computer and computing peripherals is expected to increase further demand for magnetic field sensor technology. However, inconsistency of a magnetic field sensor body, distortional variation, temperature fluctuations unavailability of aftermarket service is expected to hamper the global magnetic field sensor market.
Owing to growth in automotive industry which may increase demand for magnetic field sensor technology, multinational companies have started investing in the emerging markets of Asia Pacific. Some of the major companies operating in the global magnetic field sensor technology are Allegro MicroSystems Inc., Asahi Kasei Microdevices Corporation, Melexis Microelectronic Systems, NXP Semiconductors, Infineon, Honeywell International, Robert Bosch GmbH and MEMSIC Inc.
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Key points covered in the report
Report segments the market on the basis of types, application, products, technology, etc (as applicable)
The report covers geographic segmentation
North America
Europe
Asia
RoW
The report provides the market size and forecast for the different segments and geographies for the period of 2010 to 2020
The report provides company profiles of some of the leading companies operating in the market
The report also provides porters five forces analysis of the market.
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