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Magnetic Sensors Market Business Overview, Growth and Forecast Research 2018

Magnetic Sensors Market by Technology (Hall Effect, AMR (Anisotropic Magneto-Resistance Magnetometer), GMR (Giant Magneto Resistance Magnetometer), TMR (Tunnel Magneto Resistance Magnetometer), Others), Application (Automotive, Consumer Electronics,
Magnetic Sensors Market Business Overview, Growth and
Forecast Research 2018
The Global Magnetic Sensors Market was over US$ 2.1 billion in 2017 and is
projected to expand at a CAGR over 6.8% during 2018 – 2025.
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Growing awareness for the safety in automobiles, coupled with a price reduction for
sensors is accentuating the magnetic sensors demand over the forecast period.
Additionally, improving technological innovations in consumer electronics with
expansion of IoT technologies are further attributed to favorably impact the magnetic
sensors market growth over the forecast period.
Magnetic sensors are primarily used in consumer wearables, and smartphones.
Emerging market trends, incorporating magnetoresistance films on various magnetic
sensors will further accelerate the market growth over the coming years. Various
sensing devices are continuously used in the automotive end-use industry to enhance
the automobiles’ fuel efficiency, safety, and convenience will further boost the market
growth. Favorable regulations from the governing bodies regarding the use of electric
vehicles, majorly in North America and Europe, are further enhancing the demand for
various devices with sensors.
Technical constraints such as limited magnetic field strength will restrain the market
growth significantly in the overall projected period. Currently, the manufacturers of
the magnetic sensor manufacturers are working hard to overcome this issue. For
instance, various producers are working on improving various parameters of magnetic
sensors such as output sped, gear ratio, and number of bearing elements to analyze the
various magnetic vibration patterns. This might attribute to overcome the limited field
strength of the magnetic sensors over the coming years.
Figure 1. Global Magnetic Sensors Market, By Technology
Hall Effect Based Magnetic Sensors Had the Highest Share of the
Global Market In 2017
Hall Effect magnetic sensors are the devices which can be activated by external
magnetic field. Output signal from a usual Hall Effect sensor will be in the form of a
function of magnetic field density around the sensor. Hall Effect sensors led the global
magnetic sensors market by the end of 2017.
But, it is predicted that there might be a change in the manufacturers’ preference
towards magneto-resistive sensors such as AMR, GMR, and TMR over the projected
period. The penetration of these sensors is expected to be surpass Hall Effect sensors,
owing to a wide operating range, coupled with properties such as low power and
hysteresis, and improved measurement accuracy over Hall Effect sensors. Moreover,
the prices of the magneto-resistive sensors are predicted to reduce over the coming
years, which will further boost the market growth in various end-use applications
during the projected period.
Contactless sensing is also possible through the Hall Effect, as it is becoming one of
the key technologies for motor control and in a wide-range of appliances. This effect
offers a low-cost combination of both switching and sensing, which simplifies the
prices and design implementation. They also have the capability to open new design
opportunities, which are currently required by the key manufacturers in the market.
For instance, the use of magnetic-sensing capabilities, and thereby integrating
orthogonal Hall Effect sensors, can have the capability of producing an effective and
a low-cost compass.
Figure 2. Global Magnetic Sensors Market, By Application
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Magnetic Sensors Market For Automotive Held The Largest Share Of
The Global Market In 2017
Thee magnetic sensors market for automotive had the significant market share in
2017, and will lead the global market throughout the forecast period. This is majorly
due to the incorporation of these sensors in automobiles by many automakers. Rising
production of automobiles acts as a significant factor for the growth of this segment
over the forecast period.
In the automobiles, the magnetic sensors provide many advantages. They allow
contactless, and wear-free mechanical quantities’ measurement like angle of speed
and rotation. These sensors are highly robust and need very low costs to manufacture.
The manufacturers of the magnetic sensors are developing new and innovative
sensors, which are highly required by the automotive manufacturers.
For instance, Robert Bosch GmbH, developed magnetic sensors for electronic stability
program (ESP), which avoids spinning in the vehicles. Recently, the company
demonstrated that essential limitation of AMR effect to 180° can be reduced by
utilizing a modulated magnetic field which is created in the sensor. This is one of the
key developments in the magnetic sensors market, which can be specifically used for
automotive applications.
Asia Pacific Regional Market Had The Highest Market Share In The
Global Magnetic Sensors Market
The Asia Pacific magnetic sensors market is predicted to have the largest share of the
global market, owing to the rising product consumption in consumer electronic
devices such as laptops, cameras, smartphones, coupled with automotive. The
growing demand for these consumer electronic products in the developing economies
such as China and India are significantly driving the growth of magnetic sensors
market in the Asia Pacific.
The automotive production in this region has been increasing from the pat few years.
India and China alone are majorly attributing to the growth of vehicle production,
which will have a positive impact on the consumption of magnetic sensors, thus
impacting the market growth positively.
North America regional market is expected to have a moderate growth rate, owing to
the saturation of the market in this region. The demand for magnetic sensors in this
region will grow moderately, owing to the stagnant automotive production, coupled
with a steady growth in the consumer electronic products’ sales.
Multinational players
Key players in the global magnetic sensors market include Allegro Microsystems, Inc,
Asahi Kasei Micodevices Corporation, Alps Electric Co., Ltd., AMS AG, Crocus
Technology, Baumer Ltd, Elmos Semiconductors Ltd., iC-Haus, Honeywell
International, Inc., Infenion Technologies Ltd., Melexis Corporation, and Memsic
Corporation are some of the key players in global Magnetic Sensors market.
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