According to a new magnetic field sensors market report published by
Transparency Market Research “Magnetic Field Sensors Market -
Global Industry Analysis, Size, Share, Growth, Trends and Forecast,
2015 - 2021” was valued at US$2.0 bn in 2014 and is expected to
reach US$3.5 bn by 2021, growing at a CAGR of 8.3% during forecast
period.
Browse the full Magnetic Field Sensors Market Report
at
http://www.transparencymarketresearch.com/magnetic-field-sensors-market.html
Magnetic field sensors are being increasingly used for the
measurement of various parameters such as motion, proximity
positioning of objects and individuals across different industries.
In terms of cost, size and robustness, these sensors have shown
substantial growth over the years when compared over its competitive
technologies such as reed switches, micro switches and
potentiometers. Increasing demand for these sensors in the automotive
and consumer electronic sectors coupled with rapid technological
advancements of magnetic field sensors are the key drivers of the
market.
magnetic-field-sensors-market
Increasing popularity of e-compasses, owing to their ability to
enhance the user navigation experience is also boosting the market
growth. In addition, increasing demand for these sensors, on the
account of energy efficiency initiatives on a global level is set to
bolster the growth of the overall market. These factors in total are
expected to impact the growth of magnetic field sensors market
positively during the forecast period from 2015 to 2021.
By technology, the market has been segmented into three segments,
bias field sensor, earth field sensor and low field sensor
technology. Bias magnetic field sensor occupied the largest share of
the market in 2014. The magnetic field sensors based on this
technology offer higher sensitivity, better temperature stability and
lower power consumption as compared to the other sensors. Therefore,
the market is expected to show steady growth during the forecast
period.
By types, these are classified as Hall-effect sensors, fluxgate
sensors, SQUID sensors, magneto-resistive sensors and others. In
2014, Hall-effect sensors were the largest contributor to the market.
These sensors are expected to lead the overall market through the
forecast period. However, in terms of growth parameters,
magneto-resistive sensors are expected to grow significantly during
the forecast. This is due to technological advancements and the
steady need for superior quality of magnetic sensors by
safety-critical end-use industries such as automotive, medical and
defense.
On the basis of applications, the global market is divided into seven
segments, namely: automotive, consumer electronics, industrial,
energy, power and utilities, robotics, healthcare, aerospace &
defense. In 2014, automotive sector dominated the market and
accounted for a substantial share. Automotive sector is expected to
show steady growth throughout the forecast period owing to the
increasing penetration of electric vehicles (EVs) and hybrid electric
vehicles (HEVs). Furthermore, growing demand from other end user
industries such as consumer electronics, robotics and healthcare is
also expected to positively impact the market in the coming years.
By geography, market is segmented into four regions, namely North
America, Europe, Asia Pacific and Rest of the World. North America
acquired the largest share of the market in 2014 and was followed by
Europe. These two regions conjointly held more than 70% of the global
magnetic sensors market, in 2014. Early penetration of advanced
technology and considerable R&D activities in these regions are
the major drivers of the market.
Some of the major players in the market are: Infineon Technologies
(Germany), Allegro MicroSystems LLC (Massachusetts), Austria
Microsystems AG (Austria), Honeywell International (U.S.), NXP
Semiconductors (Netherlands), Asahi Kasei Co (Japan), Micronas
Semiconductors Holdings AG (Switzerland), Melexix NV (Belgium) and
Memsic Inc. (Massachusetts) among others.
A comprehensive analysis of market dynamics that include the market
drivers, restraints and opportunities is included under the purview
of the study. Market dynamics are the distinct factors which exert an
influence on the growth of a particular market and therefore help in
studying the current trends of the global market. Thus, this report
offers an inclusive study of the global magnetic field sensors
market, along with providing the forecast of the market for the
period from 2015 to 2021.
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