Magneto resistive sensor is solid state magnetic sensor. It has an ability to change the electrical resistance under influence of magnetic fields, called as magneto resistive effect. In other words, it shows the change of a metal systems electrical resistivity under the influence of an external magnetic field. When the strength of magnetic field is reduced, the resistance of magneto resistors decreases. On the other hand, when the strength of the magnetic field is increased, it’s resistance also increases. The most common application of these sensors are absolute and incremental angle measurement in automotive (steering angle, torque), robotics, camera positioning, potentiometer replacement, position measurement in medical applications, motor motion control and others. Furthermore, it is also used in electrical industry in measurement of magnetic field as well as to monitor the electrical current. Magneto resistive sensor is also applicable for measuring earth’s magnetic field.
The magneto resistive sensor market is primarily driven by the increased application of different sort of sensors in high end medical devices and biotechnology such as to sense the magnetic fields generated by physiological function as well as to study the physiological functions of the brain and of the heart. In automotive industries, use of magneto resistive sensor is primarily for rotational sensing. Further, growth of automotive industry expected to contribute to growth of the global magneto resistive sensor market.
Increasing adoption of magneto resistive sensor for different application in aerospace and defense expected to foster the market growth during forecast period. The recent advancement in micro fabrication technology expected to allow novel ways of utilizing the magneto resistive sensors for various applications such as stretchable electronics, superconducting spin electronics, and smart grids. However, high sensitivity to temperature expected to limit the usage of magneto resistive sensor for some applications, further expected to hinder the global magneto resistive market.
The global magneto resistive market has been segmented based on magneto resistive effect, end-use industry, and region. Based on magneto resistive effect, the global magneto resistive sensor market can be classified into giant magneto resistance sensor, extraordinary magneto resistance sensor, tunnel, magneto resistive sensor and others. Based on end-use industry, the global magneto resistive sensor market can be segmented into industrial, healthcare, consumer electronics, automotive, biotechnology, aerospace and defense and others. In terms of region, the global magneto resistive sensor market can be segregated into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America and Europe is anticipated to hold a significant share of the global magneto resistive sensor market due to the presence of leading magneto resistance sensor manufacturers in this region. The market in Asia Pacific is anticipated to expand at a rapid pace owing to increasing demand of power in emerging economies such as India and China, in the region. Indeed, magneto resistive sensor are useful for various application of current monitoring and magnetic field sensing.
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Key players operating in the global magneto resistive sensor market include Honeywell International Inc., Murata, AMS, Analog Devices (Infineon Technologies), NXP Semiconductor N.V, Magnachip Semiconductor, TE Connectivity, Diodes Incorporated, MS AG, Allegro Microsystems Inc., Panasonic, Asahi Kasei Micro Devices Corporation, Melexix NV, Memsic Inc, Infineon Technologies AG, Micronas Semiconductor Holdings AG and Robert Bosch GMBH. These players are actively focusing on organic and inorganic growth strategies in order to gain a competitive advantage in the market. Some of the important strategies adopted by the leading players in the global market are collaborations, partnerships, agreements, and new product launches. The report provides an in-depth analysis about the strategic business activities along with the market dynamics shaping the global magneto resistive sensor market over the period of study.