The global magnetic sensors market is estimated to grow at a CAGR of over 6% during the forecast period.  The magnetic position sensor responds to the presence and interruption of the magnetic field by producing a proportional unit. These are utilized in various applications such as consumer appliances, HVAC, instrumentation, and motion, position control. Magnetic sensors provide digital and analog Hall-effect position, magneto resistive, Hall-effect vane, gear tooth, and Hall-effect basic switches and magnets, and wide continuous operating temperature range. 

The factors that contribute to the growth of the market include the increasing demand from the automotive industry. The magnetic sensors offer numerous benefits such as low power consumption, high sensitivity, higher reliability, I2C programmability and advanced features such as tamper detection/ second threshold, and magnet tempco compensation. As these advanced sensing elements ensure higher efficiency and reliability in terms of both performance and economics, there is higher adoption of these sensors in electronics control systems in vehicles which ensures increased safety and enhanced driver convenience, which in turn, results in the higher adoption of these sensors. 

Segmental Outlook

The global magnetic sensor market is segmented on the basis of technology and application. Based on the technology the market is sectioned as hall effect, Anisotropic Magneto Resistance (AGR), Giant Magneto Resistance (GMR), Tunneling Magneto Resistance (TMR) and others. Based on the application, the market is further sectioned as consumer electronics, automotive, and others.

Global Magnetic Sensor Market, by Technology 2018 (%)

Hall Effect Technology to Have Significant Growth in the Market During the Forecast Period

Based on the technology of the market, the hall effect segment is estimated to register significant growth in the market during the forecast period. The growth of the segment is attributed to the high utilization of hall effect technology-based sensors in various automotive applications in position sensing and angle sensing applications. The Hall effect is an ideal sensing technology, as it offers high-performance and is cost-effective. Numerous benefits offered by this technology include true solid-state, long life, high-speed operation. In addition, it can operate with stationary input, no moving parts, logic compatible input and output, wide temperature range (-40 to +150°C) and highly repeatable operation among others. Thus, the hall effect technology holds a major share.

Regional Outlook

The global magnetic sensor market is geographically segmented into North America, Europe, Asia-Pacific and the Rest of the World. The Asia-Pacific is estimated to hold a significant share in the global magnetic sensor market. This is attributed to the growth in the automotive industry of the region. In addition, the growth of consumer electronics, especially in emerging countries such as India and China, further gives a boost to the regional growth of the market. 

Global Magnetic Sensor Market, by Region 2018 (%)

China is one of the largest markets in consumer electronics products such as computers, tablets, and many others. The electronics market in China is on the rise owing to the continuous contribution by the government and key players in making the manufacturing powerhouse across the globe. Thus, such initiatives lead to the development of the country along with manufacturing and innovations in electronics and other product offerings. Thus, it will result in the increasing demand for magnetic sensors during the forecast period.

Market Players Outlook

Some of the prominent players operating in the global magnetic sensor players include NXP Semiconductors N.V, Honeywell International Inc., Infineon Technologies AG, STMicroelectronics N.V., Texas Instruments AMS AG, Alps Alpine Co. Ltd., Asahi Kasei Microdevices Corp., among others. These players adopt various market growth strategies such as partnerships, mergers and acquisitions, and products, among others to thrive in such a highly competitive market. 

For instance, Infineon Technologies AG offers a broad range of magnetic sensors under the position sensors and speed sensors. Infineon XENSIV magnetic sensors provide high-quality sensing solutions, detect magnetic fields and process the information. In June 2018, the company launched its magnetic sensor based on TMR-technology, named XENSIV TLE5501 angle sensor family at the Sensor+Test 2018 fair in Nuremberg, Germany.

In June 2019, Infineon Technologies AG introduced its new magnetic and pressure sensors at Sensor+Test. The latest sensor and solutions for intelligent mobility connected industry, the smart home, robotics and health and fitness among others. Thus, this will aid the company in better serving its customers as well as its product portfolio.

The Report Covers

• Market value data analysis of 2018 and forecast to 2025.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global magnetic sensor market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.