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Report Overview
The global magnetic sensor market attained a value of USD 2.68 billion in 2023. The industry is further expected to grow at a CAGR of 7.2% in the forecast period of 2024-2032 to reach a value of USD 5.00 billion by 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
| Global Magnetic Sensor Market Report Summary | Description | Value |
| Base Year | USD Billion | 2023 |
| Historical Period | USD Billion | 2018-2023 |
| Forecast Period | USD Billion | 2024-2032 |
| Market Size 2023 | USD Billion | 2.68 |
| Market Size 2032 | USD Billion | 5.00 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 7.2% |
| CAGR 2024-2032 - Market by Region | Latin America | 7.3% |
| CAGR 2024-2032 - Market by Country | Canada | 8.0% |
| CAGR 2024-2032 - Market by Country | China | 7.4% |
| CAGR 2024-2032 - Market by Technology | Tunneling Magneto Resistance (TMR) | 7.9% |
| CAGR 2024-2032 - Market by End Use | Consumer Electronics | 8.2% |
| Market Share by Country 2023 | Brazil | 2.6% |
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The global magnetic sensor market is being driven by the rising demand for consumer electronics, electric and hybrid vehicles, and high-quality sensing devices.
Global Magnetic Sensor Market Segmentation
Magnetic sensors are used for various purposes such as in contactless and wear-free measurement of mechanical and electrical amounts like rotation angle, angular velocity, linear position, linear velocity, and current. Magnetic sensors play a crucial role in supplying drones the critical directional data.
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The various technologies used in magnetic sensors include:
- Hall Effect
- Anisotropic Magneto Resistance (AMR)
- Giant Magneto Resistance (GMR)
- Tunnelling Magneto Resistance (TMR)
- Others
The industry can be segmented based on End Use:
- Transportation
- Consumer Electronics
- Healthcare
- Aerospace and Defence
- BFSI
- Others
The EMR report looks into the regional magnetic sensor markets like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
| CAGR 2024-2032 - Market by | Country |
| Canada | 8.0% |
| China | 7.4% |
| UK | 7.3% |
| Mexico | 6.8% |
| Germany | 6.8% |
| USA | XX% |
| France | XX% |
| Italy | XX% |
| Japan | XX% |
| India | XX% |
| Australia | XX% |
| Saudi Arabia | 6.7% |
| Brazil | XX% |
Global Magnetic Sensor Market Analysis
The global magnetic sensor market is being driven by technological advancements. The rising demand for reliable, high-performance, and low-cost sensor is further propelling the growth of the industry. The Asia Pacific is expected to lead the industry as a result of an increasing focus on the automotive, consumer electronics, and healthcare industries, with China being the largest producer for automotive and consumer electronics due to the speedy growth of gaming industry in the region. The consumer electronics magnetic sensor market is anticipated to grow at the fastest rate due to the introduction of new apps like movement gaming and navigation.
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Competitive Landscape
The report presents a detailed analysis of the following key players in the global magnetic sensor market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Asahi Kasei Microdevices Corporation
- Allegro MicroSystems, Inc.
- Infineon Technologies AG
- TDK Corporation
- TE connectivity Corporation.
- Melexis NV
- NXP Semiconductors N.V.
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s five forces.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Technology |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
Magnetic Sensor Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global magnetic sensor market attained a value of nearly USD 2.68 billion.
The market is projected to grow at a CAGR of 7.2% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 5.00 billion by 2032.
The major drivers for the market include the rising demand for consumer electronics, electric and hybrid vehicles, and high-quality sensing devices, and the growing technological advancements, are expected to aid the market growth.
The key trend guiding the market growth includes the introduction of new apps like movement gaming and navigation.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Hall effect, anisotropic magneto resistance (AMR), giant magneto resistance (GMR), and tunnelling magneto resistance (TMR), among others, are the significant technology segments of the product in the market.
Transportation, consumer electronics, healthcare, aerospace and defence, and BFSI, among others, are the major end use sectors of magnetic sensor in the market.
The major players in the market include Asahi Kasei Microdevices Corporation, Allegro MicroSystems, Inc., Infineon Technologies AG, TDK Corporation, TE connectivity Corporation., Melexis NV, NXP Semiconductors N.V., Others.
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