Global Magnetic Field Sensors Market to be Driven by Increasing Usage of Consumer Electronic Products

Magnetic field sensors are small devices used to detect and measure magnetic fields. An excellent example of the same is seen in cars. When the rear wheels move, they alter the magnetic field that helps the sensor identify the exact location of the objects. The vehicle then processes this information to make the driving experience a smoother and safer one. 

Growing Number of Electronic Devices Drives Global Magnetic Field Sensors Market

The biggest growth driver for the global magnetic field sensors market is the increasing use of electronic compasses in electronic devices such as tablets and smartphones. High-end smartphones that enable users to use navigation features especially use magnetic field sensors on a large scale. Relentless development of technology is also leading to higher usage of Hall Effect components and sensors. In the near future, the use of magnetic fields is expected to rise in the medical industry and hybrid vehicles. Additionally, exceptionally sensitive magnetic sensors are likely to be used in several healthcare applications. 

Established Players in the Market Blocking New Entrants 

Despite the strong growth drivers, the global magnetic field sensors market faces some tough restraints, such as dropping prices of components and magnetic sensors. The other big hurdle for new entrants in the global magnetic field sensors market is the strong foothold of the existing players.

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The global magnetic field sensors market is segmented on the basis of technology, application, type, and geography. On the basis of technology, the global magnetic field sensors market is segmented into earth field sensor technology, bias magnetic field sensor technology, and low field sensor technology.

On the basis of application, the market is divided into aerospace and defense, automotive, the medical sector, industry and infrastructure, consumer electronics, and others. The type segments of the global magnetic field sensors market include squid sensors, Hall Effect sensors, and magneto-resistive sensors. The Hall Effect sensors segment is further sub-segmented into hall elements and hall integrated circuits (ICs); magneto-resistive sensors include anisotropic magneto-resistance (AMR) sensors, giant magneto-resistance (GMR) sensors, and tunneling magneto-resistive (TMR) sensors.

Automobile Industry to Dominate Demand from Global Magnetic Field Sensors Market

The most popularly used sensors in the global magnetic field sensors market are MEMS-based magnetic field sensors that help in small magnetic fields. These sensors are used in the medical industry, automotive industry, infrastructure, consumer electronics sector, and aerospace and defense industry. Depending on the type, magnetic field sensors use either analog or digital signals for transmitting data.

These non-contact magnetic field sensors are in high demand for their efficient sensing capabilities. The automotive industry, homeland security, healthcare, the electronics industry, and defense are some of the industries that are adopting magnetic field sensors at a very fast rate. According to a market research report published by Transparency Market Research, the automotive sector is the biggest consumer of magnetic field sensors. Industry experts believe that this sector will continue its dominance in the global magnetic field sensors market due to the increasing demand for automobiles across the globe.

The key players in the global magnetic field sensors market are NXP Semiconductors N.V, Melexix NV, Honeywell International, Robert Bosch GMBH, Micronas Semiconductor Holdings AG, Allegro Microsystems Inc., Asahi Kasei Micro Devices Corporation, Memsic Inc., AMS AG, and Infineon Technologies AG.

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