Magnetometer Sensor Market Size By Type (Hall Effect, Anisotropic Magneto-Resistive (AMR), Giant Magnetoresistance (GMR), Tunnel Magnetoresistance (TMR)), By Application (Speed Sensing, Position Sensing, Detection/ Non-Destructive Testing (NDT), Navigation & Electronic Compass) and Region Forecast to 2023-2032
Report Description
The global Magnetometer sensor market size was valued at USD 4,708.9 million in 2023, expanding at a CAGR of 8.2% from 2023-2032 to reach 8,409.6 Million USD in 2032.
Market Dynamics
The increasing use of magnetic sensors in cutting-edge applications like driverless vehicles is anticipated to fuel the expansion of the magnetic market globally. These systems use magnetic sensors, which are incredibly effective, extremely accurate, dependable, robust, and easy to make. Manufacturers of magnetic sensors are expanding their investments in several magnetic sensing technologies, including 3D sensing, tunnel magnetoresistance (TMR), and giant magnetoresistance (GMR), in order to improve their domain expertise and solidify their market position. Additionally, in order to meet the demands of diverse end-use markets, these competitors are adding novel items to their portfolios of magnetic sensor goods.
Although the shipment of magnetic sensors has expanded due to their broad use in automated vehicles, consumer electronics, and healthcare equipment, price erosion has greatly slowed the rate of growth in these sales. The fierce competition among the growing number of sensor manufacturers contributes to some of this. Many businesses are focusing their R&D efforts on developing affordable alternatives to current magnetic sensing technologies, such as position, speed, and angle sensors made with MEMS and 3D sensing technology. Rapid innovation in new portable, consumer, and loT applications is a result of aggressive R&D activities, and this, in turn, puts pressure on prices, particularly for high-volume applications. Due to the fact that they are more digitally connected than standard automobiles, hybrid, and electric vehicles are gaining popularity.
Additionally, they provide greater fuel efficiency, lessen the use of fossil fuels like gasoline and diesel, and lessen environmental harm and global warming. In the years following COVID-19, the demand for hybrid, electric, and autonomous vehicles is anticipated to outpace that of all other vehicle types. The rise in demand for these vehicles can be ascribed to evolving lifestyles, governmental initiatives to promote the use of eco-friendly vehicles, and the development of cutting-edge technologies. The fact that electric vehicles produce no pollution is one of their main benefits. In addition, a number of major automakers, including GM (US), Ford (US), and Renault (France), are growing their hybrid and electric vehicle divisions.
Regional Insights
In 2021, the region with the largest market share, APAC, is anticipated to grow at the highest CAGR during the forecast period. The expansion of the market in APAC is being driven by rising demand for magnetic sensors in automobiles and consumer electronics. The expansion of the market is also being driven by an increase in the number of small and medium-sized firms (SMEs) and their investments in creating better magnetic sensors for a variety of applications. Furthermore, the top 20 automobile-producing nations globally are China, Japan, India, and South Korea; as a result, this area offers the magnetic sensor market tremendous growth potential.
Segment Dynamics
The Magnetometer market is fragmented into type and application segments. Based on the type, the Hall effect segment is anticipated to dominate the market. By application, the speed sensing segment is projected to grow at the highest CAGR during the forecast period.
Competitive Insights
The Magnetometer market is highly competitive in nature with the presence of local & international players. Major players in the industry engage in strategic mergers & acquisitions, partnerships, and new product launches to remain competent in the market. For example, in February 2020, Allegro MicroSystems, LLC launched ATS19580, a fully-integrated, back-biased GMR transmission speed and direction sensor for automotive applications.
The report begins with an overview of the Industry Chain structure, and describes the industry environment, then analyses market size and forecast of Magnetometers by type, region, and application. In addition, this report introduces the market competition situation among the vendors and company profile, besides, market price analysis and value chain features are covered in this report.
Company Coverage (Company Profile, Sales Revenue, Price, Gross Margin, Main Products etc.):
- Asahi Kasei Corporation
- Allegro MicroSystems
- Infineon Technologies
- TDK Corporation
- Melexis
- Honeywell International Inc.
- TE Connectivity
- Ams AG
Type Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):
- Hall Effect
- Anisotropic Magneto-Resistive (AMR)
- Giant Magnetoresistance (GMR)
- Tunnel Magnetoresistance (TMR)
Application Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):
- Speed Sensing
- Position Sensing
- Detection/ Non-Destructive Testing (NDT)
- Navigation & Electronic Compass
Region Coverage (Regional Consumption, Demand & Forecast by Countries etc.):
- North America (U.S., and Canada)
- Europe (Germany, U.K., France, Italy, Spain etc.)
- Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
- South America (Brazil, Mexico, Argentina etc.)
- Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa etc.)
Table Of Content
TABLE OF CONTENT
1. Magnetometer Sensor Market Overview
1.1. Product Overview and Scope of Magnetometer
1.2. Global Market Growth Prospects and Revenue Estimates
1.3. Global Magnetometer Sensor Market Size Growth Rate Analysis by Type, 2023 VS 2032
1.3.1. Hall Effect
1.3.2. Anisotropic Magneto-Resistive (AMR)
1.3.3. Giant Magnetoresistance (GMR)
1.3.4. Tunnel Magnetoresistance (TMR)
1.4. Global Magnetometer Sensor Consumption Comparison by Application: 2023 VS 2032
1.4.1. Speed Sensing
1.4.2. Position Sensing
1.4.3. Detection/ Non-Destructive Testing (NDT)
1.4.4. Navigation & Electronic Compass
1.5. Global Magnetometer Sensor Market Size Estimates and Forecasts by Region: 2023 VS 2032
1.5.1. North America Magnetometer Sensor Estimates
1.5.2. Europe Magnetometer Sensor Estimates
1.5.3. China Magnetometer Sensor Estimates
1.5.4. Japan Magnetometer Sensor Estimates
2. Market Competition by Manufacturers
2.1. Global Magnetometer Sensor Revenue Market Share by Manufacturers (2020)
2.2. Magnetometer Sensor Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
2.3. Global Magnetometer Sensor Average Price by Manufacturers (2023-2032)
2.4. Manufacturers Magnetometer Sensor Production Sites, Area Served, Product Types
2.5. Magnetometer Sensor Market Competitive Situation and Trends
2.5.1. Magnetometer Sensor Market Concentration Rate
2.5.2. Mergers & Acquisitions, Expansion
3. Global Magnetometer Sensor Consumption by Region (2023-2032)
3.1. Global Magnetometer Sensor Consumption by Region
3.2. Global Magnetometer Sensor Consumption Market Share by Region
3.2.1. North America
3.2.2. North America Magnetometer Sensor Consumption Growth Rate (2023-2032)
3.2.3. North America Magnetometer Sensor Consumption, Price and Gross Margin (2023-2032)
3.2.4. North America Magnetometer Sensor Consumption by Country
3.2.4.1. U.S.
3.2.4.2. Canada
3.2.5. Europe
3.2.6. Europe Magnetometer Sensor Consumption Growth Rate (2023-2032)
3.2.7. Europe Magnetometer Sensor Consumption, Price and Gross Margin (2023-2032)
3.2.8. Europe Magnetometer Sensor Consumption by Country
3.2.8.1. Germany
3.2.8.2. U.K.
3.2.8.3. France
3.2.8.4. Italy
3.2.8.5. Spain
3.2.9. Asia Pacific
3.2.10. Asia Pacific Magnetometer Sensor Consumption Growth Rate (2023-2032)
3.2.11. Asia Pacific Magnetometer Sensor Consumption, Price and Gross Margin (2023-2032)
3.2.12. Asia Pacific Magnetometer Sensor Consumption by Country
3.2.12.1. China
3.2.12.2. India
3.2.12.3. Japan
3.2.12.4. Indonesia
3.2.12.5. Malaysia
3.2.12.6. Australia
3.2.12.7. South Korea
3.2.13. South America
3.2.14. South America Magnetometer Sensor Consumption Growth Rate (2023-2032)
3.2.15. South America Magnetometer Sensor Consumption, Price and Gross Margin (2023-2032)
3.2.16. South America Magnetometer Sensor Consumption by Country
3.2.16.1. Brazil
3.2.16.2. Mexico
3.2.16.3. Argentina
3.2.17. Middle East and Africa
3.2.18. Middle East and Africa Magnetometer Sensor Consumption Growth Rate (2023-2032)
3.2.19. Middle East and Africa Magnetometer Sensor Consumption, Price and Gross Margin (2023-2032)
3.2.20. Middle East and Africa Magnetometer Sensor Consumption by Country
3.2.20.1. Saudi Arabia
3.2.20.2. Kuwait
3.2.20.3. UAE
3.2.20.4. South Africa
4. Global Magnetometer Sensor Consumption by Type (2023-2032)
4.1. Global Magnetometer Sensor Price by Type (2023-2032)
4.2. Global Magnetometer Sensor Revenue Market Share by Type (2023-2032)
4.2.1. Hall Effect
4.2.2. Anisotropic Magneto-Resistive (AMR)
4.2.3. Giant Magnetoresistance (GMR)
4.2.4. Tunnel Magnetoresistance (TMR)
5. Global Magnetometer Sensor Consumption by Application (2023-2032)
5.1. Global Magnetometer Sensor Price by Application (2023-2032)
5.2. Global Magnetometer Sensor Revenue Market Share by Application (2023-2032)
5.2.1. Speed Sensing
5.2.2. Position Sensing
5.2.3. Detection/ Non-Destructive Testing (NDT)
5.2.4. Navigation & Electronic Compass
6. Key Companies Profiled
6.1. AMS AG
6.1.1. AMS AG Magnetometer Sensor Corporation Information
6.1.2. AMS AG Magnetometer Sensor Product Portfolio
6.1.3. AMS AG Magnetometer Sensor Consumption, Price and Gross Margin (2023-2032)
6.1.4. AMS AG Main Business and Markets Served
6.1.5. AMS AG Recent Developments/Updates
6.2. Asahi Kasei Corporation
6.3. Allegro MicroSystems
6.4. Infineon Technologies
6.5. TDK Corporation
6.6. Melexis
6.7. Honeywell International Inc.
6.8. TE Connectivity
6.9. Ams AG
7. Marketing Channel, Distributors and Customers
7.1. Marketing Channel
7.2. Magnetometer Sensor Distributors List
7.3. Magnetometer Sensor Customers
8. Market Dynamics
8.1. Magnetometer Sensor Industry Trends
8.2. Magnetometer Sensor Growth Drivers
8.3. Magnetometer Sensor Market Challenges
8.4. Magnetometer Sensor Market Restraints
9. Global Magnetometer Sensor Consumption and Demand Forecast, by Region (2023-2032)
9.1. Global Forecasted Demand Analysis of Magnetometer, by Regions and Country
9.1.1. North America Forecasted Consumption of Magnetometer Sensor by Country
9.1.2. Europe Market Forecasted Consumption of Magnetometer Sensor by Country
9.1.3. Asia Pacific Market Forecasted Consumption of Magnetometer Sensor by Region
9.1.4. Latin America Forecasted Consumption of Magnetometer Sensor by Country
9.1.5. Middle East and Africa Forecasted Consumption of Magnetometer Sensor by Country
10. Global Magnetometer Sensor Consumption and Demand Forecast, by Type Segments (2023-2032)
10.1. Global Forecasted Consumption of Magnetometer Sensor by Type Segments (2023-2032)
10.2. Global Consumption and Price Forecast by Type Segments (2023-2032)
10.3. Global Forecasted Growth Rate of Magnetometer Sensor by Type Segments (2023-2032)
11. Global Magnetometer Sensor Consumption and Demand Forecast, by Application Segments (2023-2032)
11.1. Global Forecasted Consumption of Magnetometer Sensor by Application Segments (2023-2032)
11.2. Global Consumption and Price Forecast by Application Segments (2023-2032)
11.3. Global Forecasted Growth Rate of Magnetometer Sensor by Application Segments (2023-2032)
12. Research Finding and Conclusion
13. Methodology and Data Source
13.1. Methodology/Research Approach
13.1.1. Research Programs/Type
13.1.2. Market Size Estimation
13.1.3. Market Breakdown and Data Triangulation
13.2. Data Source
13.2.1. Secondary Sources
13.2.2. Primary Sources
13.3. Author List
13.4. Disclaimer
Research Methodology
Our research studies are primarily performed in five phases which include Secondary Research, Primary Research, Subject Matter Expert Advice, Quality Check, and Final Review. The process opted for conducting thorough research to make authentic business reports is briefly described below-
Secondary Research-
- Based on the understanding of requirements, we conducted secondary research to identify the Segment specifications, qualitative and quantitative data along with the factors responsible for the growth of the market.
- The secondary sources referred for the study include press releases, company annual reports, and research papers related to the industry.
- Various sources such as industry magazines, trade journals, government websites, and associations were also reviewed for gathering precise analysis on opportunities for business expansions in the market.
- Moreover, quantitative as well as qualitative data were also extracted from paid databases, which included Reuters, Factiva, Bloomberg, One Source, and Hoovers, which proved to be useful for in-depth technical study of the market.
Primary Research-
- The research carried out during the desk research was verified by primary interviews. Primary research was scheduled with a number of industry experts for conducting telephonic interviews, and also our team send questionnaires through their official emails.
- The secondary data collected was then verified by various industry participants which included Segment managers, marketing managers, VPs, CEOs, purchasing managers, subject matter experts.
- An interview with the mentioned participants aids invalidation of our research findings regarding the Segment.
- It helps in the provision of first-hand data on factors such as market size, growth, regional trends, market trends, and competition in the industry. This approach makes our findings precise in order to help our clients in strategic decision-making processes.
Subject Matter Advice-
- The secondary and primary research key findings were then validated by the in-house subject matter experts having extensive experience in the market research industry.
- Specific requirements of the clients were reviewed by the experts to check for completion of the market study. Experts help in channelizing the representation skills of the analyst in terms of providing data that can be easily understood by our customers.
Quality Check-
- The analysis done by the research team was further reviewed to check for data accuracy provided to suit the clients’ specific requirements.
- This revision was done in various phases to check the data authenticity and to remove negligible errors in the final compilation.
Final Review-
- After the quality check, a final review of the report was done to look after the presentation, formatting, and to recheck if all the requirements of the clients were addressed. The next phase remains dispatch of the report to the client.
Enquire Before Purchase
Frequently Asked Questions
Why Choose Market Research Strategy?
We utilize market analysis/information from verified authenticated data sources to scoop accurate research reports
We understand the urgency of our clients and their clients' in the competitive space thus, deliver the report in minimum turnaround
Without further ado, choose us and get instant access to reliable analysis to help you make the right business decisions.
We abide by the information security policy and adheres to keep your private and business information confidential and secure.