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

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Global Magnetic Sensor Market to cross 3.5bn by
2025 Global Market Insights Inc.
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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.

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• 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.

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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

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• 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.

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