The overall magnetic field sensor market is expected to be valued at USD 5.37 billion by 2023, growing at a CAGR of 8.77% between 2017 and 2023.

The key factor contributing to the growth of the magnetic field sensor market is the growing applications of magnetic sensors in consumer electronics such as smartphones, consumer drones, wearables, and gaming consoles. However, inconsistent magnetic field strength and other technological limitations are the key restraints for the growth of the magnetic field sensor market. The growing importance of magnetic sensors in hybrid and electric vehicles is the major opportunity for the studied market.

Most of the consumer and automotive applications require an inexpensive, robust, and durable sensing technology. For most of the consumer and automotive applications, Hall effect sensor is one of the most apparent choices owing to its noncontacting feature, durability, and robustness to dirt and other environmental contaminants. Thus, Hall effect sensors are expected to hold the leading position in the magnetic sensor market between 2017 and 2023.

APAC is expected to be the fastest-growing market. The magnetic field sensor market in APAC is divided into India, China, Japan, South Korea, and Rest of APAC. The increase in demand for consumer electronic devices such as laptops, smartphones, and cameras in China is driving the growth of the magnetic field sensor market in this region. This region is one of the largest producers of passenger vehicles in the world, which uses magnetic sensors for applications such as antilock braking systems and central locking systems. Moreover, BFSI is also one of the major industries contributing to the growth of magnetic field sensors in APAC.

Companies Mentioned

  • AMS
  • Allegro Microsystems
  • Amsasahi Kasei Microdevices Corporation
  • Coto Technology
  • Crocus Technology
  • Honeywell
  • Infineon Technologies
  • Kohshin Electric
  • Melexis
  • Multidimension Technology Co., Ltd.
  • NXP Semiconductors
  • Quspin
  • Sensitec GmbH
  • Startup Ecosystems
  • TDK Corporation
  • TE Connectivity

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Magnetic Field Sensor Market, By Type

7 Magnetic Field Sensor Market, By Range

8 Applications of Magnetic Field Sensor

9 Magnetic Field Sensor Market, By End-User Industry

10 Geographic Analysis

11 Competitive Landscape

12 Company Profiles

For more information about this report visit https://www.researchandmarkets.com/research/sxwgsc/magnetic_field

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