The Infinium Global Research analyzes the Magnetic Field Sensor Market over the period of 2019 to 2025. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global magnetic field sensor market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of magnetic field sensor. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the magnetic field sensor market during the period. The global magnetic field sensor market is projected to grow at a CAGR of 8.74% over the forecast period of 2019-2025.
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The magnetic field sensor is highly competitive and consolidated in nature. Only a few players in the market have command over a large part of market share. The key market players including Honeywell International Inc., Asahi Kasei Microdevices Corporation, TDK Corporation, Allegro MicroSystems LLC, Robert Bosch GmbH, MEMSIC Inc. and others are focusing on product innovation and mergers and acquisitions as a strategy to maintain their position in the market.
Increase in the Application of Magnetic Field Sensors in the Automotive Industry is the Key Factor Driving the Magnetic Field Sensor Market
The increase in the application of magnetic field sensors in the automotive industry is the key factor driving the magnetic field sensor market. Moreover, the high penetration of MEMS technology in consumer electronics is expected to boost the magnetic field sensor market. Furthermore, the government initiatives to promote energy-efficient technologies further propelling the magnetic field sensor market. However, the lack of infrastructure for the manufacturing process is the major factor hampering the growth of the magnetic field sensor market. Additionally, the technological advancements in the field of electronics are expected to provide opportunities for the magnetic field sensor suppliers in the future.
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Segmentation of the Magnetic Field Sensor Industry
The magnetic field sensor market is segmented by the type, application, and end-user. The type of magnetic field sensor is categorized into Hall Effect, magnetoresistive, SQUID sensors, fluxgate sensors, and other sensors. The Hall Effect segment among the type dominated the market owing to its low cost, operation at higher frequencies, resistant to environmental contaminants and measure a wide range of magnetic fields. The application of the magnetic field sensor market includes speed sensing, flow rate sensing, detection/ndt, position sensing, navigation, and electronic compass and other applications. The end-user for the magnetic field sensor market is further segmented into automotive, consumer electronics, aerospace & defense, industrial and other end-users. The automotive segment among the end-user dominated the market owing to the application of magnetic field sensor technology for anti-lock braking systems and engine control management systems.
Magnetic Field Sensor Market in North-America Generates the Highest Revenue
Region-wise, the magnetic field sensor market in North-America generates the highest revenue. The magnetic field sensor market in this region holds a large amount of share of the global market. The domination of the North-America region in the magnetic field sensor market attributes to the rise in demand from the automotive, consumer electronics and healthcare industries. Moreover, the high penetration of electronics and the rise in research in the field of magnetism are expected to boost the growth of the Magnetic Field Sensor market in North-America.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Magnetic Field Sensor.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.