On-board Magnetic Sensor: Introduction
- Magnetic sensors are able to detect and measure magnetic fields and converts it into an electrical signal.
- Magnetic sensors have various applications in proximity switching, positioning, speed detection, and current sensing.
- The on-board magnetic sensor market is segmented on the basis of type, magnetic density, end-use industry, and region.
- The rising demand for on-board magnetic sensors in the consumer electronics industry and the growing application of on-board magnetic sensors in navigation are the major factors that are expected to drive the growth of the global on-board magnetic sensor market during the forecast period.
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Rise in Demand for >10 Gauss (Bias Magnetic Field Sensors)
- The >10 gauss (bias magnetic field sensors) segment in terms of magnetic density is projected to be the fastest growing segment of the global on-board magnetic sensor market during the forecast period.
- The >10 gauss (bias magnetic field sensors) are used to tune the sensitivity and the measuring range of the magnetic sensor created by the magnetic poles of the hard magnetic film. This application is likely to propel the growth of the >10 gauss (bias magnetic field sensors) on-board magnetic sensor market.
- The >10 gauss (bias magnetic field sensors) is used as a reed switch which is popular in industrial control because of its advantages such as low maintenance and high resistance to dirt and contamination.
- In terms of type, magnetoresistive sensors are expected to expand at a substantial rate during the forecast period due to their wide operating range. These sensors are commonly used to detect magnetic field strength.
- Hybrid and electric vehicles and IoT connected devices are prominent trends that are likely to drive the growth of the on-board magnetic sensor market.
Asia Pacific to Lead the On-board Magnetic Sensor Market
- In terms of region, the global on-board magnetic sensor market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- Asia Pacific is expected to see dominant growth in the on-board magnetic sensor market throughout the forecast period due to the rise in demand for consumer electronic devices such as laptops, smartphones, and cameras in the region.
- Moreover, growth in automotive, healthcare, and industrial sectors in Asia Pacific propels the demand for smart technologies in emerging economies such as China, South Korea, Japan, Taiwan, and India, which is anticipated to spur the regional demand for on-board magnetic sensors.
- The market in North America and Europe is expected to expand at a substantial rate during the forecast period due to the rising demand for budget smartphones and the growing demand for fitness bands in the regions.
- On the other hand, the market in Middle East & Africa and South America is estimated to expand at a moderate pace during the forecast period.
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Key Players Operating in the Global On-board Magnetic Sensor Market
The global on-board magnetic sensor market was highly fragmented in 2019. Major players operating in the global market are focusing on technological advancement and expansion to meet the rising demand for on-board magnetic sensors. Moreover, manufacturers are undertaking mergers and acquisitions for the development of innovative products.
Key players operating in the global on-board magnetic sensor market are:
Asahi Kasei Microdevices
- Sanken Electric
- Infineon Technologies
- TDK Corporation
- Melexis NV
- Murata Manufacturing
- Honeywell International
- TE Connectivity
- NXP Semiconductors N.V.
Global On-board Magnetic Sensor Market: Research Scope
Global On-board Magnetic Sensor Market, by Type
- Hall Effect Sensors
- Magnetoresistive Sensors
- SQUID Sensors
Global On-board Magnetic Sensor Market, by Magnetic Density
- <1 Microgauss (Low-Field Sensors)
- 1 Microgauss to 10 Gauss (Earth Field Sensors)
- >10 Gauss (Bias Magnetic Field Sensors)
Global On-board Magnetic Sensor Market, by End-use Industry
- Consumer Electronics
- Aerospace & Defense
- Energy & Power
- Food & Beverages
Global On-board Magnetic Sensor Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.