Global Magnetic Sensors Industry 2019 Research report provides information regarding market size, share, trends, growth, cost structure, capacity, revenue and forecast 2024. This report also includes the overall and comprehensive study of the Magnetic Sensors market with all its aspects influencing the growth of the market. This report is exhaustive quantitative analyses of the Magnetic Sensors industry and provides data for making Strategies to increase the market growth and effectiveness.
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Market Overview :
The Magnetic Sensor Market is expected to register a CAGR of over 7%, during the forecast period (2019–2024). The high usage of magnetic sensors in new navigation devices, presence detection (building automation related applications), medical areas and the automotive sector is leading to a paradigm shift in the magnetic sensors market worldwide.
— The increase in demand for IIoT and production of consumer electronics, electric and hybrid vehicles, and high-quality sensing devices, globally, is influencing the adoption of magnetic sensors across several end-user industries. This is expected to drive the growth of the magnetic sensors, during the forecast period.
— Increasing adoption of robotics for factory automation owing to the Industry 4.0 policies is driving the need of magnetic sensors for various safety applications in the global market.
— The development in the services sector in the country and high growth rate of data center and cloud providers is further augmenting demand for these sensors to be deployed in PDU (Power Distribution Unit), which form a crucial part in data centers.
Scope of the Report :
Magnetic sensors are classified in terms of measuring a complete magnetic field or vector-components of the magnetic field. Permanent magnets such as neodymium magnets are used to trigger the magnetic sensors in several applications. The magnetic sensor is used to identify magnitude and direction of the magnetic field. It comprised of a rotating sensor tip which measures both transverse and longitudinal magnetic fields around the objects.
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Key Market Trends :-
Automotive Industry to Hold Significant Share:
— In the case of automotive applications, GMR and TMR sensors have demonstrated less power consumption than mW and µW during continuous operation. They are also easily accommodated in package sizes less than their counterparts, thus are finding the increasing deployment of these sensors into auto parts.
— The demand for magnetic sensors is anticipated to increase in the automotive industry. Sensing devices are been used increasingly in this industry to improve vehicles convenience and fuel efficiency.
— Also, mandatory regulations by the government bodies, such as the installation of safety equipment and sensing elements in automobiles, are estimated to create significant opportunities for the growth of this market.
— Magnetic sensor vendors are focusing on providing efficient devices, which can serve an extensive range of automotive applications. The increase in demand and penetration of electric vehicles and hybrid electric vehicles and the use of GPS in automobiles may also fuel the demand for magnetic sensors from the automotive industry.
North America to Hold Largest Share:
— The growth in a number of vehicles and production of automotive parts are significant factors fueling the growth of the market. Also, the commercialization and development of connected cars have been a developing trend in the region.
— The region is also witnessing an increase in demand for sensing components in numerous industrial uses. Automotive manufacturers in the region are increasingly integrating miniature magnetic sensing devices into the vehicles to offer improved communication capabilities, which will further boost the magnetic sensors market, over the forecast period.
— The tablet computers, e-readers, and mobile phones, along with other GPS enabled devices are increasingly becoming more sophisticated, is increasing the ongoing challenge to sensor manufacturers resulting from the higher and higher packing density of components.
— It is expected that high adoption of smart watches and other smart wearables, which are witnessing huge demand in the region, owing to increased healthcare concerns and rising disposable incomes will further augment the growth in the market..
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Competitive Landscape :
The magnetic sensors market is highly competitive. The improved manufacturing practices and adoption of TMR technology are poised to offer substantial growth opportunities to sensor fabricators and associated industry participants. The market is identified to be highly technology intensive and thus the players in the market are integrating advanced technological products like xMR into their product portfolio. These companies include the likes of AKM, Infineon Technologies, Allegro Microsystems, Melexis, TDK, Diodes, and Honeywell.
— June 2018: Infineon launched its first magnetic sensors based on TMR technology which made it the world’s first sensor manufacturer to offer magnetic sensors based on all four magnetic technologies: HALL, GMR, TMR and AMR. Infineon presented the new XENSIV TLE5501 angle sensor family at the Sensor+Test 2018 fair in Nuremberg.
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— The market estimate (ME) sheet in Excel format
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some Major Points from Table of content
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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