Magnetometer Sensor Market: Introduction

  • The magnetometer, also known as a magnetic sensor, is a sensor for measuring magnetic induction, which is an important sensor module in all types of aircraft and spacecraft. It is also widely used in other fields, such as agriculture, industry, defense, as well as biology, medicine, aerospace, interplanetary research, etc.; presently few technology fields remain that do not require magnetic field measurement.
  • The device measures the magnetic flux density in Tesla units. The magnetic flux density in air is directly proportional to the strength of magnetic field; hence, the magnetometer sensor can detect the magnetic fluctuations of the earth’s magnetic field.
  • The magnetometer sensor is commonly used in anti-braking systems in automotive; in navigation, and mineral exploration to search for elements such as gold, silver, iron copper, and others. Most modern smartphones use magnetometer for navigational purposes. Apart from these applications, it is used in defense to navigate unmanned aerial aircrafts.
  • It is also used for open/close detection of windows and doors in connected houses, joystick for controllers, digital crown and digital bezel for smart watches, operation dial for home appliances and factory automation equipment, opening angle detection for foldable smartphones, stroke detection for industrial air cylinders, etc.
  • The major applications are compact electronic devices such as smartphones, tablets and game console controllers, all kinds of wearable devices or IoT devices and applications that demand high position and orientation precision such as virtual, augmented or mixed reality (VR, AR, and MR) or indoor navigation

Rising demand for Magnetometer Sensor in Automotive Industry

  • Based on end-use industry, the market can be segmented into consumer electronics, aerospace and defense, automotive, marine, industrial, telecommunication and others
  • The Automotive segment of the global magnetometer sensor market is projected to expand at a rapid pace during the forecast period due to an increase in use of magnetometer sensor for multipurpose camera, in cabin sensing, smart window lift module, smart power closure module, etc.
  • 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, they are finding increasing deployment in auto parts.
  • Magnetometer sensor also offers many advance features such as high sensitivity, lowest RMS noise, less current consumption, and miniature dimension etc.
  • Moreover, hall and GMR-based magnetic sensors are increasingly being used for motorcycles, three-wheel, and all-terrain vehicle applications are increasing in automotive industry.
  • 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
  • Increasing use of magnetometer sensor for technological advances in IoT, electric and hybrid vehicles, and high-quality sensing devices is further propelling the market

 North America to Lead Global Magnetometer Sensor Market

  • In terms of region, the global magnetometer sensor market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
  • Expansion of the global market can be attributed to applications of magnetometer sensor in consumer electronic industries because of the increasing usage of smart home devices such as wireless security systems, service robots, smart door locks, and other home appliances by consumers, which increases the need for innovative and advanced technology in consumer electronic devices. Moreover, demand for innovative and advanced technology is expected to further propel the magnetometer sensor market across the globe.
  • The magnetometer sensor market in North America is expected to expand at a high growth rate due to the presence of major players in the region and increased competition among them. The market in Europe is likely to show a uniform growth rate during forecast period because of less competition in the market in the region.

Key Players Operating in Global Magnetometer Sensor Market

Major players engaged in the global magnetometer sensor market are focusing on technological advancement and expansions to cater to the rising demand for magnetometer sensor. Moreover, manufacturers are undertaking mergers and acquisitions for the development of innovative and advanced technology products.

Key players operating in the global magnetometer sensor market include:

  • Asahi Kasei Corporation
  • Infineon Technologies AG
  • Melexis
  • NXP Semiconductors
  • Bosch Sensortec GmbH
  • Honeywell International Inc
  • TE Connectivity
  • MEMSIC Semiconductor (Tianjin) Co., Ltd.
  • Bartington Instruments Ltd
  • PNI Sensor

Global Magnetometer Sensor Market: Research Scope

Global Magnetometer Sensor Market, by Type

  • Hall Effect Sensor
  • MEMS Sensor

Global Magnetometer Sensor Market, by Application

  • Drones
  • Wristband
  • Hearable
  • Robots
  • Gaming and Toys
  • Others (Augmented reality (AR), Virtual reality (VR) etc.)

Global Magnetometer Sensor Market, by End-use Industry

  • Consumer Electronics
  • Aerospace and Defense
  • Automotive
  • Marine
  • Others (Industrial, Telecommunication etc.)

Global Magnetometer Sensor Market, by Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.

The scrutiny of the various forces impacting the dynamics of the market, and key and associated industries, guides enterprises in understanding various consumer propositions. Our clients leverage these insights and perspectives to enhance customer experience in the fast-paced business environment.

All our insights and perspectives are broadly based on 4 Pillars or Stages: ASBC-S, which offer an elaborate and customizable framework for the success of an organization. The essence and the roles of these in organizational successes are highlighted below:

  • Agenda for CXOs: TMR, through the study, sets the tone for agendas that are pertinent to CEOs, CFOs, CIOs, and other CXO executives of businesses operating in the market. The perspectives help our clients to bridge the gap between agenda and action plan. TMR strives to offer guidance to CXOs to undertake mission-critical activities empowered by various business analysis tools, and boost the performance of the organizations. The perspectives guide you to decide on your own marketing mix that align well with the policies, visions, and mission.
  • Strategic Frameworks: The study offers how organizations are setting both short-term and long-term strategic plans. Our team of experts collaborate and communicate with you to understand these to make your organizations sustainable and resilient during tough times. The insights help them decide sustainable competitive advantage for each business units.
  • Benchmarking for Deciding Target Markets and Brand Positioning: The assessments in the study provides a scrutiny of marketing channels and marketing mix. Our various teams work synergistically with you to help identify your actual and potential direct, indirect, and budget competition areas. Additionally, the study helps you decide most effective budgets for various processes and promotional activities. Furthermore, the study guides you to set benchmarks for integrating people and processes with the 4Ps of marketing. Eventually, this will empower you to find out unique propositioning strategies and niches.
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The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to

  • North America, South America, and the Americas
  • Asia Pacific and Japan
  • Europe
  • Latin America
  • Middle East and Africa

The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:

  • What are the major recent trends that can influence the product life cycle and the RoI?
  • Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
  • Which micromarketing initiatives of leading players will bring in investments?
  • What can be the best framework and tools for PESTLE analysis?
  • Which regions will witness rise in new opportunities?
  • Which are the game-changing technologies being used to capture new revenue streams in the near future?
  • Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
  • What is the current and expected intensity of competition the market in the near future?

Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.

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Magnetometer Sensor Market