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Magnetic Sensor Market Growth Analysis & forecast Report | 2019-2025

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Title: Magnetic Sensor Market Growth Analysis & forecast Report | 2019-2025


1
Global Magnetic Sensor Market to cross 3.5bn by
2025 Global Market Insights Inc.
2
Industry Overview
  • With global shipments anticipated to grow at a
    CAGR of 5 over 2019-2025, magnetic sensor market
    is projected to witness a rapid momentum in the
    ensuing years. Proliferating technological
    advancements in semiconductor industry led by the
    increasing demand for highly accurate and durable
    sensors is providing a substantial impetus to
    magnetic sensor market outlook. Furthermore,
    rising deployment of these sensors in virtual
    reality headsets, gaming consoles, gesture
    control, and other electronic devices is further
    boosting the product penetration. In terms of
    revenue, global magnetic sensor market share is
    forecast to exceed USD 3.5 billion by the end of
    2025.
  • Magnetic sensors find mainstream applications
    across the automotive, aerospace, and
    semiconductor industries. Frequent product
    developments equipped with cutting edge
    technology is a major parameter underlining the
    strategic landscape. The same can be evidenced by
    the launch of hall effect technology-based range
    of sensors by Variohm Eurosensor in 2019.
  • High adoption of magnetic sensor-based navigation
    systems across a range of consumer electronics
    devices and constant demand from Non-Destructive
    Testing (NDT) applications are other influential
    factors propelling market size.

3
Continue
  • With magnetic sensors being applied across a
    multitude of automotive components, the sector
    has emerged as a major application ground for
    magnetic sensor market. Against the backdrop of
    mounting vehicle safety concerns, GMR and TMR
    technology-based sensors have gained noteworthy
    penetration in the automotive sector as they aid
    in significantly improving vehicle monitoring and
    performance. Moreover, intensifying demand for
    autonomous and electric vehicles are slated to
    intensify the product landscape of magnetic
    sensor market.
  • The emergence of Giant Magnetoresistance (GMR)
    technology has opened up a plethora of growth
    avenues for the magnetic sensor market. GMR
    technology-based sensors provide better
    feasibility of fabrication and are highly
    desirable in biosensors, hard disk drives, CMOS
    standard microelectronics, current strips, coils
    and microelectromechanical systems. The
    technology is massively deployed in electric and
    autonomous vehicles. These magnetic sensors
    feature superior capabilities which allow precise
    angular measurements and larger working
    distances. Moreover, the product on account of
    increasingly being paired with several other
    contemporary technologies is further witnessing a
    massive popularity across a slew of verticals.
  • The aerospace industry is demonstrating prolific
    growth momentum, especially in the US. As per
    estimates of the U.S. Department of Commerce, the
    U.S. aerospace industry accounted for export
    sales worth USD 151 billion in 2018.

4

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Sensor Market _at_ http//bit.ly/2MVtBdO
Request for a Sample of this Research
report _at_ http//bit.ly/2NogMYb
5
Growth Drivers
  • Increasing applications of magnetic sensors in
    the automotive sector
  • Growing consumer electronics industry in Asia
    Pacific
  • Declining prices of sensors
  • Growing adoption of TMR magnetic sensor
    technology
  • Implementation of tracking and navigation systems
    by transportation and delivery services
  • Deployment of magnetic sensors in space
    applications
  • Growing use of magnetic sensors in robotics and
    factory automation
  • Development of 3D-magnetic sensor

6
Continue
  • Magnetic sensors are a key enabling technology
    for the aerospace industry. These products play a
    vital role in aircraft operations and are
    incorporated with various aircraft equipment to
    facilitate functions such as proper component
    positioning and determination of aircraft
    direction. Additionally, the product also
    witnesses prominent deployment for execution of
    tasks such as tracking position of rotating
    components and measuring the alignment between
    moving aircraft components.
  • Europe magnetic sensor market growth is favored
    by the presence of an established automotive
    industry in the region. Estimates of the European
    Automobile Manufacturers Association suggest that
    almost 20 of the global automotive production
    took place in Europe in 2017, which was equal to
    19.6 million. The region being economically sound
    experiences a considerably high sale of premium
    cars, which are invariably equipped with robust
    components. Moreover, the continent houses some
    of the major premium automakers such as
    Volkswagen, Mercedes-Benz, BMW, and others, who
    have the propensity to manufacture high-end
    vehicles with premium features. Such factors
    along with the growing popularity of connected
    vehicles, autonomous driving, and IoT are likely
    to bolster Europe magnetic sensor market size
    through 2025.

7
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