A recent report published by Infinium Global Research on magnetic field sensor market provides an in-depth analysis of segments and sub-segments in the global as well as regional magnetic field sensor market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional magnetic field sensor market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global magnetic field sensor market. According to the report, the global magnetic field sensor market is projected to grow at a CAGR of 8.74% over the forecast period of 2019-2025.
The growing research and development activities in the field of electronics have changed the sensors over the years. Sensors are becoming more effective and accurate as the technology evolves. Magnetic field sensors operate based on the fluctuation in the magnetic field around the sensor. 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.
The increase in the application of magnetic field sensors in the automotive industry is the key factor driving the magnetic field sensor market. The magnetic field sensors are used in cars for various purposes, which makes them an important component of vehicles. Moreover, the high penetration of MEMS technology in consumer electronics is expected to boost the magnetic field sensor market. MEMS comes integrated with magnetic field sensors in them and MEMS is an integral part of many consumer electronics. 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.
In terms of region, 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.
The report on the global magnetic field sensor market covers segments such as type, application, and end-user. On the basis of type, the sub-markets include hall effect, magnetoresistive, squid sensors, fluxgate sensors, and other sensors. On the basis of application, the sub-markets include speed sensing, flow rate sensing, detection/NDT, position sensing, navigation and electronic compass, and other applications. On the basis of end-user, the sub-markets include automotive, consumer electronics, aerospace & defense, industrial, and other end-users.
The report provides profiles of the companies in the market such as Allegro MicroSystems LLC, Honeywell International Inc., Asahi Kasei MicroDevices Corporation, TDK Corporation, Infineon Technologies AG, Robert Bosch GmbH, MEMSIC Inc., ams AG, NXP Semiconductors N.V., Melexix NV, and other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of magnetic field sensor market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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