Global Fluxgate Sensors Market: Overview
Fluxgate sensors were firstly invented in 1930 and basically used to measure D.C magnetic fields up to 1mT (Mili Tesla). They are used for various applications including industrial monitoring and control system, over current detection, space research, submarine detection etc. Fluxgate sensors are very small in sizes which enable them to use in micro/nano-electronics technologies. In addition, these fluxgate sensors are also used in robotic probes to analyze and detect the earth’s magnetic field as well as other planets. These fluxgate sensors have high reliability and sensitivity which help to detect small magnetic fields. The fluxgate sensors with very low noise as well as nanotesla resolution are suitable for metal part detection in food, surveillance, shielding technologies and many others.
Global Fluxgate Sensors Market: Dynamics
The key factors which drive the growth of the global fluxgate sensors market are significantly growing electronics and electrical industry along with rising demand for consumer electronic goods. The macroeconomic factors which fuel the growth of the global fluxgate sensors market are the rapidly growing urbanization and emerging countries such as China, Brazil, and India over the forecast period. High demand of fluxgate sensors for the usage for submarine detection as well as navigation systems are the major key factors which drive the global fluxgate sensors market over the forecast period. Furthermore, rapidly growing digitalization and industrial automation fuel the growth of the global fluxgate sensors market, owing to the significant usage of fluxgate sensors in rapidly growing smart cities and manufacturing industry respectively across the globe over the forecast period. Additionally, high mergers of prominent players with existing local players will drive the global fluxgate sensors market over the forecast period. The key factors such as stringent government regulations related to the safety of fluxgate products as well as high labor cost in the North America may hinder the growth of global fluxgate sensors market over the forecast period. High innovation such as reduction in the size of fluxgate sensors is the key trending factor of global fluxgate sensors market over the forecast period.
Global Fluxgate Sensors Market: Segmentation
Global fluxgate sensors market has been segmented by application type, end-use industry type and region type.
Based on the end-use industry type, global fluxgate sensors market is classified into followings:
- Healthcare & Life Sciences
- Electrical & Electronics
- Media & Communications
- Energy & Utilities
Based on application type, global fluxgate sensors market is classified into followings:
- Navigation Systems
- Industrial Monitoring and Control Systems
- Overcurrent Detection
Global Fluxgate Sensors Market: Segmentation Overview
Among above mentioned end-use industry, electrical and electronics segment is estimated to witness a significant CAGR in the global fluxgate sensors market over the forecast period, owing to growing smart cities along with high usage of fluxgate sensors for automatic parking system as well as tracking systems in automobiles. Media & communication industry is anticipated to see the high growth rate in global fluxgate sensors market over the forecast period due to its growing usage for navigation systems.
Global Fluxgate Sensors Market: Regional Outlook
Based on geographies, the global fluxgate sensors market is classified into seven regions such as Western Europe, Eastern Europe, North America, Latin America, Asia Pacific excluding Japan, Japan and the Middle East and Africa. Among above-mentioned regions, North America accounts high market share in the global fluxgate sensors market over the forecast period, attributed to rapidly growing innovation and demand in sensor based products for automation across the region followed by Western Europe. Asia Pacific excluding Japan is anticipated to showcase a significant growth in the global fluxgate sensors market over the forecast period, owing to significant growing electronics usage of electronics based products in China along with building smart cities in India. Japan is predicted to see a significant CAGR in the global fluxgate sensors market over the forecast period, attribute to high usage of fluxgate sensors in the automotive industry.
Global Fluxgate Sensors Market: Key Players
Few key players of global fluxgate sensors market are Stefan Mayer Instruments, Xi'an Huashun Measuring Equipment Co., Ltd., Macintyre Electronic Design Associates Inc., Methode Electronics Inc., Fluxgate World Subsystems, MSR-Electronic GmbH, Cedrat Technologies SA, and others. Key manufacturers of the global fluxgate market are focusing towards on high innovation such as auto pilot in smart cars and space weather detection.
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