Magnetic Sensor Market Outlook-2026
Magnetic sensors are used for measuring and detecting distance, size, direction, width, and speed. Magnetic sensors are also known as Microelectromechanical System-Based Sensors (MEMS) that convert magnetic field into an electrical signal. It is widely used by industries for rotation sensing, contactless current sensing, linear, and angular position. Moreover, it consumes less power, operates in high temperature, is highly durable, and delivers reliable performance.
Magnetic sensor is used in various applications such as cars, smart phones, refrigerators, and others. In cars, it is used for identifying the gap between two cars and controlling the speed accordingly. In addition, it is used in smart phones for navigation A MEMS-based magnetic field sensor is small in size, due to it can be kept near to the measurement location and thereby it achieve higher spatial resolution than other magnetic field sensors. For instance, Infineon Technologies, a well-known manufacturer of sensors, provides solutions to meet requirements of automotive and industrial applications. It developed a sensor called “ISO26262” used in the automotive industry for detecting linear position, pedal position, and electric power steering.
The magnetic sensor market is expected to experience growth from 2019 to 2026 due to increase in applications of magnetic sensors in various industries such as automotive, consumer electronics, aerospace, defense, healthcare, and others. Increase in technological advancements related to electrification of vehicles, increase in adoption of smart products, and robotics by industries for automation and integration of IoT technology are the major factors responsible for the market growth. Moreover, cloud computing and big data analytics also contributes toward the market growth because of the increase in demand for servers and data centers. Power Distribution Units (PDU) use magnetic sensors for power supply, which is a crucial infrastructure in data centers, this is expected to boost the demand for the magnetic sensor market in the future.
Factors such as increase in adoption of magnetic sensors in medical applications for tracing the speed of components in medical testing equipment, deployment of magnetic COTS in aircrafts, and increase in demand for automobile infotainment system are the key drivers for the magnetic sensor market growth. In addition, high cost and lack of infrastructure acts as major restraints, which can hinder the market growth. Increase in government initiatives for eco-friendly vehicles and growing usage of high-quality sensing devices provide lucrative opportunities for the market to spur.
The magnetic sensor market is analyzed on the basis of technology, application, end use, and region. On the basis of technology, the market is categorized into AMR, TMR, and GMR. By application, the market is classified into smart phones, cars, robotics, refrigerators, and others. On the basis of end use, the market is segmented into automotive, consumer electronics, healthcare, aerospace, defense, and others. By region, the market is divided into North America, Europe, Asia-pacific, and LAMEA.
Key players operating in the magnetic sensor industry are Baumer, Honeywell international Inc., Ic Haus, Robert Bosch GmbH, Magnetic sensor corporation, NVE corporation, NXP Semiconductors, Infineon Technologies, Allegro Microsystems, and TDK Corporation. These players focus on R&D advancements of electronic devices. These players adopt collaboration, partnership, and agreement as their key developmental strategies to increase revenue of the magnetic sensor market and develop new products for enhancing product portfolio.
Key Benefits for Magnetic Sensor Market:
- This study includes the analytical depiction of the global magnetic sensor market along with the current trends and future estimations to determine imminent investment pockets.
- The report presents information regarding the key drivers, restraints, and opportunities.
- The current market is quantitatively analyzed from 2019 to 2026 to highlight the financial competency of the industry.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
Magnetic Sensor Market Segments:
By Technology Type:
- Tunnel Magneto Resistance (TMR)
- Anisotropic Magneto Resistance (AMR)
- Giant Magneto Resistance (GMR)
- Smart Phones
By End User:
- Consumer Electronics
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East