6.75% CAGR for Magnetic Field Sensors Market Globally to 2020 Says a New Research Report Available at ReportsnReports.com
(PRWEB) September 02, 2014 -- The total shipment for the magnetic field sensors in the year 2013 was recorded to be 6.5 billion units; the figure is expected to reach up to 9.6 billion units in 2020 at a CAGR of 6.75%. In value terms, this market stood at $1.8 billion in 2014 and is expected to reach up to $2.9 billion by year 2020, at 8.04% CAGR during the projected period.
Automotive sector has emerged as the market leader for the global magnetic field sensors market, accounting for more than 40% of the magnetic field sensor market share. Increasing demand to integrate more safety functions in automobiles has created opportunities for the magnetic field sensors, so as to be used in various safety applications such as Electronic Stability Control (ESC) systems, steering angle sensing, force and torque sensing, and Anti-Lock Braking Systems (ABS), among others. Electronic compasses or E-compasses are becoming popular these days primarily due to their ability to enhance the user navigation experience in consumer electronic devices. The must-have ‘navigation’ feature in every handheld device is responsible for the high growth rate of the magnetic sensors in the consumer electronics market. Complete report is available at http://www.reportsnreports.com/reports/296764-magnetic-field-sensors-market-by-type-hall-effect-magnetoresistive-squid-others-technology-low-field-earth-field-bias-magnetic-field-sensors-applications-automotive-consumer-electronics-industrial-infrastructure.html .
In the report, the magnetic field sensors market is divided into four segments, namely type, technology, applications, and geography. The magnetic field sensors classified by type include ‘hall effect’ sensors, magneto resistive sensors, and SQUID, among others; while the magnetic field sensor technology is divided further into low field, earth field, and bias magnetic field sensors. The applications wherein the magnetic sensors are used include the automotive, consumer electronics, industrial & infrastructure, medical, and aerospace and defense sectors. Meanwhile, the global magnetic sensor market is segmented on the basis of the various geographical regions namely: North America, Europe, APAC, and ROW.
The Hall Effect sensors dominate the market currently, with more than 70% of the market share, while the newer magnetic sensors such as TMR and SQUID sensors are gradually gaining visibility. The main suppliers of the Hall Effect sensors are NXP Semiconductors N.V, Allegro Microsystems Inc, Melexix NV, Asahi Kasei Microdevices Corporation, Honeywell International, AMS AG, Micronas Semiconductor Holdings AG, Infineon Technologies AG, Robert Bosch GMBH and Memsic Inc Order a copy of this report at http://www.reportsnreports.com/purchase.aspx?name=296764 .
The report also discusses the future of the global magnetic field sensor market with road-maps, discussing the upcoming technologies, markets and application segments with respect to the magnetic field sensors. The report covers impact analysis of the market dynamics on the factors that are currently driving and restraining the growth of the market, along with their impact in the short, medium, and long-term landscapes. The consumption of each type of magnetic field sensors in the overall sensor market in terms of their value as well as volume consumption for the next six years is also analyzed and presented. The report also contains qualitative data on the trends in the sensors in “xEV”, along with insights about the global decreasing sales of the magnetic sensors in the smartphones market. Priced at US $4650 for a single user PDF, a discount on this research report can be requested at http://www.reportsnreports.com/contacts/discount.aspx?name=296764 .
The magnetic field sensors market is has gained traction recently due to a lot of factors such as increasing vehicle production, increasing demand in gaming consoles, increasing popularity of electronic compass, and continuous demand from computer and computing peripherals. All these factors are acting as the drivers for the magnetic sensor market, as they are fuelling the demand of magnetic field sensors. These magnetic field sensors are increasingly being used in the measurement of many parameters such as position, proximity, motion, and heading, among others. Magnetic field sensors are widely used in the applications such as consumer electronics, automotive, industrial, and aerospace & defense, and medical & healthcare devices. The advancement of magnetic field sensors and growth in the hybrid and electric vehicles are the future opportunities for the magnetic sensors.
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