Global Market for Magnetic Field Sensor is Anticipated to grow at a Significant Pace i.e., USD 7.1 Billion during the Forecast Period 2021-2027

Published Date: Feb, 2022

The global magnetic field sensor market is anticipated to reach USD 7.1 billion by 2027, witnessing a CAGR of 7.9% during 2021-2027. The increased adoption of magnetic sensors in consumer electronics, the automotive industry, new navigation devices, presence detection (building automation-related applications), medical areas will offer a paradigm shift in the magnetic field sensor market globally. Furthermore, the increased penetration of MEMS technology, increased adoption in various applications like position sensing, navigation, electronic compass, flow rate sensing, speed sensing, detection/NDT, and the rising penetration of IoT technology will propel the growth of the magnetic field sensor market. The rising penetration of cloud services and data centers and growth in the service sector will accelerate the demand for these sensors in power distribution units as it is one of the important Types of data centers. Nevertheless, the increased adoption of robotics for factory automation in the industrial sector for efficiency and precision at production lines will propel the growth of magnetic field sensors so as to detect proximity, linearity, and angular sensing.

TDK Corporation will add the Hall-sensors HAR 3900 and HAR 3930* to its Micronas 3D HAL sensor range in September 2021. The products provide stray-field adjusted position detection in automotive and industrial applications and also meet the requirements of ISO 26262.

The COVID-19 pandemic has affected the demand and production of the semiconductor industry. However, the market will bounce back owing to the increased adoption of smartphones, rising demand for improved security measures globally, adoption in industrial automation owing to less power consumption, and advancement of novel intelligent devices having high-level processing capabilities.

Browse 63 market data Tables and 35 Figures spread through 300 Pages and in-depth TOC on " Magnetic Field Sensor Market by Type (Hall Effect Sensors, Magnetoresistive Sensors (Anisotropic Magnetoresistive (AMR) Sensors, Giant Magnetoresistive (GMR) Sensors, and Tunnel Magnetoresistive (TMR) Sensors), Squid Sensors (High-Temperature Squid and Low-Temperature Squid), Fluxgate Sensors, and Others), by Application (Speed Sensing, Proximity Detection/Non-Destructive Testing (NDT), Position Sensing, Navigation and Electronic Compass, Flow Rate Sensing, and Others), by Range (Low-Field Sensors, Earth Field Sensors, and Bias Magnetic Sensors), by End-User (Automotive, Aerospace & Defense, Industrial, Consumer Electronics, Healthcare, and Banking, Financial Services, and Insurance (BFSI)), and Region - Global Forecast to 2027"

By type, hall effect sensors contribute to the largest share during the forecast period.

Hall effect sensors dominate the market in 2021 and will contribute to the largest share during the forecast period as it offers operational capabilities including linearity, wide frequency bandwidth, and high precision. These are extensively employed in automotive applications such as anti-lock braking system (ABS) wheel speed measurement, crankshaft and camshaft position measurement, steering wheel torque detection, etc. In addition, these sensors provide precise readings in adverse weather and extreme temperatures.

Global Magnetic Field Sensor Market Segmentation Analysis

Segment

Categorization

Leading Category

Type

Hall Effect Sensors, Magnetoresistive Sensors (Anisotropic Magnetoresistive (AMR) Sensors, Giant Magnetoresistive (GMR) Sensors, and Tunnel Magnetoresistive (TMR) Sensors), Squid Sensors (High-Temperature Squid and Low-Temperature Squid), Fluxgate Sensors, and Others

Hall Effect Sensors (Largest)

Magnetoresistive Sensors (High CAGR)

Application

Speed Sensing, Proximity Detection/Non-Destructive Testing (NDT), Position Sensing, Navigation and Electronic Compass, Flow Rate Sensing, and Others

Speed Sensing

(High CAGR)

Non-Destructive Testing (Fastest)

Range

Low-Field Sensors, Earth Field Sensors, and Bias Magnetic Sensors

Bias Magnetic Sensors (High CAGR)

 

End-User

Automotive, Aerospace & Defense, Industrial, Consumer Electronics, Healthcare, and Banking, Financial Services, and Insurance (BFSI)

Automotive (Largest)

 

Region

North America, Europe, Asia-Pacific, and Rest of the World

North America (Largest)

Asia-Pacific

(High CAGR)

 

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“Asia-Pacific is anticipated to have high CAGR in the Magnetic Field Sensor market during 2021-2027.”

APAC is anticipated to contribute to the highest CAGR in the magnetic field sensor market owing to the rising demand for magnetic sensors in cars and consumer electronics will propel the growth of the market. Furthermore, the rising number of SMEs and increased investment to enhance magnetic sensors for diverse applications will propel the growth of the market.  The increased penetration of smartphones and increased disposable income will fuel the growth of the magnetic field sensor market.

Some of the major players in the global Magnetic Field Sensor market include Asahi Kasei Corporation, Allegro MicroSystems, Inc., Infineon Technologies AG, TDK Corporation, Melexis, Honeywell International Inc., TE Connectivity, ams-OSRAM AG, NXP Semiconductors, and MEMSIC Semiconductor (Tianjin) Co., Ltd.

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2015–2027

Historical Period

2015–2020

Base Year

2020

Forecast Period

2021–2027

Segments Covered in the Study

Type, Application, Range, End-User, and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

Asahi Kasei Corporation, Allegro MicroSystems, Inc., Infineon Technologies AG, TDK Corporation, Melexis, Honeywell International Inc., TE Connectivity, ams-OSRAM AG, NXP Semiconductors, and MEMSIC Semiconductor (Tianjin) Co., Ltd.

Global Magnetic Field Sensor Market Coverage

Type Insight and Forecast 2015-2027

  • Hall Effect Sensors
  • Magnetoresistive Sensors
    • Anisotropic Magnetoresistive (AMR) Sensors
    • Giant Magnetoresistive (GMR) Sensors
    • Tunnel Magnetoresistive (TMR) Sensors
  • Squid Sensors
    • High-Temperature Squid
    • Low-Temperature Squid
  •  Fluxgate Sensors
  • Others

Application Insight and Forecast 2015-2027

  • Speed Sensing
  • Proximity Detection/Non-Destructive Testing (NDT)
  • Position Sensing
  • Navigation and Electronic Compass
  • Flow Rate Sensing
  • Others

Range Insight and Forecast 2015-2027

  • Low-Field Sensors
  • Earth Field Sensors
  • Bias Magnetic Sensors

End-User Insight and Forecast 2015-2027

  • Automotive
  • Aerospace & Defense
  • Industrial
  • Consumer Electronics
  • Healthcare
  • Banking, Financial Services, and Insurance (BFSI)

Geographical Segmentation

Magnetic Field Sensor Market by Region

North America

  • By Type
  • By Application
  • By Range
  • By End-User
  • By Resolution
  • By Spectrum Type
  • By Application
  • By Country – U.S., Canada, and Mexico

Europe

  • By Type
  • By Application
  • By Range
  • By End-User
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

  • By Type
  • By Application
  • By Range
  • By End-User
  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Type
  • By Application
  • By Range
  • By End-User
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries