Magnetic Field Sensor Market (by Hall Effect, Magnetoresistive and Geography) to Reach $2.9 Billion by 2020 – New Reports by MarketsandMarkets
(PRWEB) November 24, 2014 -- The report “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, Medical, Aerospace & Defense) and Geography - Forecasts & Analysis to 2013 – 2020” , defines and segments the magnetic field sensors into various segments with an in-depth analysis and forecasting of revenues. This research report also identifies the factors driving this market, various restraints, challenges and opportunities impacting it along with the future road maps.
The increase of the magnetic field sensor market is being propelled due to many reasons such as growing automobile production markets, increasing demand in gaming consoles, increasing popularity of electronic compasses, and continuous demand for computer and computing peripherals, The existing competition within the technologies, inconsistency in the magnetic field strength and unavailability of a strong aftermarket are acting as the restraints for the market.
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Browse 110 market data tables and 61 figures spread through 204 pages and in-depth TOC on “Magnetic Field Sensors Market - Forecasts & Analysis to 2013 – 2020”
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.
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.
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By sensor technology:
The magnetic sensors market based on the technology used is divided into:-
• Low field sensors
• Earth field sensors
• BIAS magnetic field sensors.
Application:
The applications of the magnetic field sensor market include:-
• Automotive
• Consumer electronics
• Industrial and Infrastructure
• Medical
• Aerospace and Defense
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However, North America which is another vital market is expected to show a significant growth in the coming years due to revised government policies and expansion of the magnetic sensors business in this region, by players such as Honeywell International (U.S.) and Allegro Microsystems Inc. (U.S.).
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