Magnetic Sensors Market 2022-2027: Growth, Demand and Challenges of the Key Industry Players

Author: Elena Anderson

Marketing Manager

Report DescriptionAbout IMARC Group

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Global Magnetic Sensors Market Research Report 2022-2027:

According to the latest report by IMARC Group, titled " Magnetic Sensors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2 022-2027

," the global magnetic sensors market reached a value of US$ 3.6 Billion in 2021.

Magnetic sensors refer to advanced devices used to detect the magnitude of magnetism and geomagnetism produced by a magnet or current. These systems ensure increased safety and enhance driver convenience.

They are available in several types with unique features that can detect changes in magnetic flux density. Owing to these properties, magnetic sensors are gaining traction across the globe for advanced intelligent measurement and control systems.

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Global Magnetic Sensors Market Trends:

The market is primarily driven by the escalating demand for vehicles across the globe. Magnetic sensors offer various advantages, such as allowing contactless and wear-free measurement of mechanical quantities like the angle of rotation and speed. In addition, the growing prevalence of medical conditions is escalating the usage of magnetic field sensors in the biomedical sector for manufacturing point-of-care (POC) devices. Besides this, with the emergence of giant magnetoresistance (GMR) thinfilm systems, manufacturers are developing advanced magnetic sensors that provide advantages, including large working distances and precise angular position measurement.

This, coupled with the rising crime rates and cross-border security issues, is positively influencing the market growth. Furthermore, magnetoelectric (ME) composites with high coefficients are utilized to make sensitive magnetic field sensors for next-generation multifunctional devices, representing another major factor propelling the market growth.

Looking forward, IMARC Group expects the market to reach US$ 5.7 Billion by 2027, exhibiting a CAGR of 7.87% during the forecast period (2022-2027).

View Report TOC, Figures and Tables: https://www.imarcgroup.com/magnetic-sensors-market

Report Description Report Description and Highlights

Key Market Segmentation

The research report includes the following segments:

Breakup by Technology:

• Hall Effect Sensor

• Magnetoresistive Sensor

• Squid Sensor

• Fluxgate Sensor

• Others

Breakup by Application:

• Speed Sensing

• Detection

• Position Sensing

• Navigation

• Others

Breakup by End Use:

• Aerospace and Defense

• Automotive

• Consumer Electronics

• Healthcare

• Others

Breakup by Region:

• North America

• Asia Pacific

• Europe

• Latin America

• Middle East and Africa

Key Questions Answered in the Report

Report Description

Competitive Landscape with Key Players:

• Amphenol Corporation

• Analog Devices Inc

• Asahi Kasei Microdevices Corporation (Asahi Kasei Corporation)

• Honeywell International Inc

• Infineon Technologies AG

• NXP semiconductors N.V

• Schneider Electric

• ST Microelectronics

• TDK Corporation

• TE Connectivity

• Texas Instruments Incorporated

1. How has the global magnetic sensors market performed so far and how will it perform in the coming years?

2. What has been the impact of COVID-19 on the global magnetic sensors market?

3. What are the key regional markets?

4. What is the breakup of the market based on the technology?

5. What is the breakup of the market based on the application?

6. What is the breakup of the market based on the end use?

7. What are the various stages in the value chain of the industry?

8. What are the key driving factors and challenges in the industry?

9. What is the structure of the global magnetic sensors market and who are the key players?

10. What is the degree of competition in the industry?

Click here to visit the complete table of content with list of figures and tables: https://www.imarcgroup.com/magnetic-sensors-market/toc

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Report Description Report Description and Highlights

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