Magnetic Field Sensor Market Size | Global Significant Growth, Technological Advancement & Opportunities to 2023

“\”Magnetic Field Sensor Market\””
Magnetic Field Sensor Market Research Report, By Type (Hall Effect Sensors), Range (<1 Micro gauss, 1 Micro gauss–10 Gauss), Applications (Speed Sensing, Flow Rate Sensing), End-User - Forecast to 2023

Market Highlights:

The global magnetic field sensor market is spanned across Americas, Europe, Asia Pacific, and Rest of world. North America dominates the magnetic field sensor market. The growing demand of magnets and electromagnets which is widely used in automotive and telecom sectors are boosting growth of magnetic field sensor market in this region. The increasing demand of sensors is extensively used in various applications including speed sensing, flow rate sensing, detection, position sensing, and others. In April 2017, Asahi Kasei MicroDevices had announced its product release of 3-axis magnetic sensor for internet of things to captures magnetic fields with vector components.

The emergence of wearable technologies and the increasing role of magnetic flux sensors in applications are few driving factors for the growth of magnetic field sensor market. Wearable technologies are widely used in consumer electronics devices. Additionally, penetration of MEMS technology is propelling the market growth of magnetic field sensor. These MEMS technologies are widely used in various sectors such as automotive, industrial, consumer electronics, medical, aerospace, defense, and others.

High growth in consumer electronics & semiconductor industry, increasing adoption of cloud based services and smart technology, Developing IoT market, and development in electric vehicles are some of the factors driving the growth in magnetic field sensor market globally. However, technology limitations, and high initial cost of magnetic field sensors are some of the factors expected to hinder the market growth in coming years.

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Industry News and Development

February 2018 – Allergo Microsystems, a leading manufacturer of high performance power and hall-effect sensor ICs, introduced giant magneto resistive (GMR) based IC. The new GMR based IC is 25 times more sensitive than the traditional one and is capable of detecting magnetic field generated by the current flowing through the conductor of the device. The IC is ideal for applications such as laptop chargers, walkie-talkie, surveillance systems, and motor control applications.  

January 2018 – The Helmholtz-Zentrum Dresden-Rossendorf, a German based research laboratory, has developed a magneto sensitive electronic skin which is also referred as E-skin. The E-skin is capable of tracking subtle motions of human hands related to the angle of an external magnetic field. Then the information is sent to computers for further translating it into a function or a command.

September 2017 – TowerJazz, Semiconductor Ltd., a leading manufacturer of ICs, partnership with Crocus, a leading magnetic field sensor developer. Under this partnership, TowerJazz would manufacture tunnel magneto resistance sensors using their CMOS processor technology which helps Crocus in broadening their presence in sensors market.

The global Magnetic Field Sensor Market is expected to grow at USD ~6 billion by 2023 at a CAGR of ~8% during the forecast period 2017-2023.

Key Players:

Some of the prominent players in the global magnetic field sensor market Asahi Kasei MicroDevices (Japan), MEMSIC Inc. (U.S.), Honeywell International Inc. (U.S.), Allegro MicroSystems, LLC (U.S.), Analog Devices, Inc. (U.S.), TDK Corporation (Japan), ams AG (Austria), Robert Bosch GmbH (Germany), Infineon Technologies (Germany), Tower Semiconductor Ltd. (Israel), Crocus Technology (U.S), TE Connectivity Ltd. (Switzerland), MELEXIX N.V (Belgium), Sanken Electric Co., Ltd. (Japan),  NXP Semiconductors N.V (Netherlands), Kohshin Electric (Japan), NVE Corporation (U.S), PASCO Corporations (Japan), among others.

Magnetic Field Sensors Global Market- Competitive Analysis

The market position analysis is derived by considering various factors such as financial position, segmental R&D investment, brand value, product portfolio, strategy analysis, and key innovations in magnetic field sensors market. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position.

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Regional Analysis

Global Magnetic Field Sensors Market, by region is led by North America in 2016. The technological advancement, developed network architecture and high adoption rate of mobile navigation and gaming consoles are some major factors of the market growth in North America. Europe has successfully counted on second position globally. Asia-Pacific among all region is considered to be the fastest growing region due to growing consumer electronics and semiconductor industry in the region. Also, the increasing adoption rate of cloud services and smart devices is expected to fuel the market growth in the region. 

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