Press release
Expansion of Magnetic Sensors Market to Remain Consistent During 2017 – 2027
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Magnetic Sensors Market: Market Dynamics
Growing importance contact less sensing technologies and wear-free measurement of mechanical quantities such as angle of rotation and angular speed, drives the growth of globalmagnetic sensors market. Expanding automotive sector coupled with increasing demand for magnetic sensors for various automotive applications, increasing demand for magnetic sensors across various consumer electronics applications, and growing popularity of magnetic sensing technologies across various biomedical applications accelerates the growth of global magnetic sensors market. Furthermore, increasing demand for MEMS-based magnetic field sensor across various medical and healthcare applications accelerates the growth of global magnetic sensors market. Rising scope of magnetic sensing technologies in electric vehicles and increasing government initiatives on promoting electric vehicle, is identified as the potential areas of opportunity for manufacturers focused on developing magnetic sensors and related components. However, decreasing sensors cost and increasing demand for low cost & power efficient magnet sensors are identified as restraints expected to have negative impact on the growth of global magnetic sensor market.
Magnetic Sensors Market: Segmentation
The global magnetic sensors market is segmented on the basis of type, application, end-user type, and region
On the Basis of type, the global magnetic sensors market can be segmented into
Magneto-resistive Sensors
Hall Effect Sensors
Fluxgate Sensors
Others
On the basis of application, the global magnetic sensors market can be segmented into
Proximity Detection
Flow Rate Sensing
Position Sensing
Navigation and Digital Compass
Others
On the basis of end-user type, the global magnetic sensors market can be segmented into
Automotive
Medical & Healthcare
Industrial
Consumer Electronics
Aerospace & Defense
Others
Regionally, the global magnetic sensors market can be segmented into
North America
Latin America
Western Europe
Eastern Europe
Asia-Pacific excluding Japan,
Japan
Middle East & Africa
Magnetic Sensors Market: Regional Outlook
Among all regions, magnetic sensors market in Asia Pacific is expected to dominate the market due to rapid industrialization, and expanding automotive sector. North America and Europe is expected represent significant market share due presence of major players and continuous adoption to advanced sensing technologies.
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Magnetic Sensors Market: Competitive Landscape
Some of the prominent venders in the global magnetic sensors market includes TE Connectivity Corporation, Asahi Kasei Corporation, NXP Semiconductors, Honeywell International Inc., Analog Devices, Inc., ams AG., Infineon Technologies AG, STMicroelectronics, Diodes Incorporated, and Melexis
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