“The magnetic field sensors market estimated to grow at a CAGR of 8.87% between 2016 and 2022”
The overall magnetic field sensors market was valued at USD 2.25 billion in 2015 and is expected to reach USD 4.16 billion by 2022, at a CAGR of 8.87% between 2016 and 2022. The growth of this market is propelled by the rising demands for MEMS-based sensor across industry verticals, surge in the automotive industry, increasing demand for high-quality sensing devices, and continuous growth in consumer electronics applications. The market is further driven by the role of magnetic field sensor in applications such as navigation. However, factors such as the decreasing cost of components associated with sensors are restricting the interest of new entrants in the market.
“Hall effect magnetic field sensors market is expected to hold the largest market size during the forecast period”
Hall effect magnetic field sensors are increasingly being used in various industries such as automotive, consumer electronics. These industries together contribute to more than two-third of the overall magnetic field sensors market in 2015. For Hall effect sensors,the automotive end-user industry is one of the major sectors because of applications such as car parking systems, security systems, and air-brake systems, among others. Moreover, in the consumer electronics industry, Hall effect sensors are widely used in smartphones and tablets for navigation and position detection applications. Thus, the market for Hall effect sensors is expected to witness growth in demand between 2016 and 2022.
“Magnetic field sensors market in Asia-Pacific (APAC) is expected to grow at the highest rate during the forecast period”
Asia-Pacific is expected to be the fastest-growing market. The APAC market is segmented into India, China, Japan, South Korea, and Rest of APAC. Asia-Pacific is a major market for various sectors such as consumer electronics, automobiles, and healthcare, among others. This region has become a global focal point for large investments and business expansion opportunities. The APAC market shows significant growth in all sectors and has influenced the market for magnetic field sensors used in consumer electronics and automotive sector. In the automobile sector, this region accounted for a share of more than 50% of the world‘s passenger car production in 2015. Moreover, consumer electronics is among the major industries contributing toward the growth of the APAC region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry people. The breakup of the profile of primary participants has been given below:
- By Company Type: Tier 1 – 38%, Tier 2 – 33%, and Tier 3 – 29%
- By Designation: C-Level Executives – 30%, Directors – 32%, and Others – 38%
- By Region: North Americas – 31%, Europe – 23%, APAC – 34%, and RoW – 12%
The key market players profiled in the report are:
- Asahi Kasei Corporation (Japan)
- Sanken Electric Co., Ltd. (Japan)
- Infineon Technologies AG (Germany)
- Melexis NV (Belgium)
- Micronas Semiconductor Holdings AG (Switzerland)
- NXP Semiconductors N.V. (The Netherlands)
- Robert Bosch GmbH (Germany)
- Analog Devices, Inc. (U.S.)
- AMS AG (Austria), Analog Devices, Inc. (U.S.)
- Honeywell International Inc. (U.S.)
- TE Connectivity Ltd. (U.S.)
- MEMSIC Inc. (U.S.)
- Bartington Instruments Ltd (U.K.)
- In terms of market by type sensors such as Hall Effect Sensors (Hall Element and Hall ICs), Magneto resistive Sensors (Anisotropic Magneto resistive Sensors (AMR), Giant Magneto resistive Sensors (GMR), Tunnel Magneto resistive Sensors (TMR)), MEMS-based Magnetic Field Sensors, SQUID Sensors (Low Temperature SQUID and High Temperature SQUID), Fluxgate Sensors, and other sensors such as Fiber-Optic, Optically Pumped, Magnetodiode, Magneto-Optical Sensor, Search-coil, Magneto-inductive Sensors, Nuclear Procession (Overhauser), and Reed Switch) are covered.
- Market by range covers analysis for 10 gauss (BIAS Magnetic Field Sensors)
- Major applications for magnetic field sensors are covered with respect to qualitative analysis. This includes Flow Rate Sensing, Proximity Detection, Position Sensing, Navigation & Electronic Compass, and others.
- The scope of end-user industry covers Automotive, Consumer Electronics, Healthcare, Aerospace & Defense, Industrial, and Others (F&B, Power & Energy, Robotics, and Research Laboratory)
- The geographic analysis is done with regards to major four regions namely North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW) (South America and Middle East & Africa)
Reasons to Buy This Report:
From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends), market ranking analysis of top players, value chain analysis; company profiles which discuss the basic views on the competitive landscape, emerging and high-growth segments of the magnetic field sensors market, high-growth regions, and market dynamics such as drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Market penetration: Comprehensive information on magnetic field sensors offered by the top players in the overall magnetic field sensors market
- Product development/innovation: Detailed insights regarding R&D activities, emerging technologies, and new product launches in the magnetic field sensors market
- Market development: Comprehensive information about lucrative emerging markets—the report analyzes the markets for magnetic field sensors across regions
- Market diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the overall magnetic field sensors market
- Competitive assessment: In-depth assessment of market ranking analysis, strategies, products, and manufacturing capabilities of the leading players in the magnetic field sensors market.