Magnetic Sensor Market Growth Opportunities concealed in rising Economies worth $5.6 billion by 2024

The report "Magnetic Sensor Market by Type (Hall Effect, Magnetoresistive (AMR, GMR, TMR), SQUID, Fluxgate)), Range (<1 Microgauss, 1 Microgauss–10 Gauss, and >10 Gauss), Application, End-User Industry, Geography - Global Forecast to 2024", the overall magnetic sensor market is expected to be valued at USD 5.6 billion by 2024, growing at a CAGR of 7.5% between 2019 and 2024.

About Magnetic Sensor :
The demand for reliable, high-performance, and low-cost sensors is increasing, leading to the development of new technologies. Magnetic sensors offer several key advantages; they allow contactless and consequently wear-free measurement of mechanical and electrical quantities, such as angle of rotation, angular speed, linear position, linear speed, and current. These devices have gained immense popularity as they are robust and cost-effective.

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Magnetic Sensor by Major Players :-

Major companies involved in the development of magnetic field sensors include Asahi Kasei MicroDevices (Japan), Honeywell (US), Allegro Microsystems (US), TDK Corporation (Japan), AMS (Austria) Infineon Technologies (Germany), TE Connectivity (Switzerland), MELEXIX (Belgium), NXP Semiconductors (Netherlands), and Kohshin Electric (Japan), among others.

Browse 68 market data Tables and 48 Figures spread through 163 Pages and in-depth TOC on "Magnetic Sensor Market"

View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/magnetic-field-sensors-market-521.html

By Type:

• Hall Effect Sensors
• Hall Elements
• Hall ICs
• Magnetoresistive Sensors
• Anisotropic Magnetoresistive (AMR) Sensors
• Giant Magnetoresistive (GMR) Sensors
• Tunnel Magnetoresistive (TMR) Sensors
• SQUID Sensors
• Low-Temperature SQUID
• High-Temperature SQUID
• Fluxgate Sensors
• Others
• Optically Pumped
• Overhauser
• Magnetodiode
• Magneto-Optical
• Magnetoinductive
• Reed

By Range

• <1 Microgauss (Low-Field Sensors)
• 1 Microgauss–10 Gauss (Earth Field Sensors)
• >10 Gauss (BIAS Magnetic Field Sensors)

By Application:

• Speed Sensing
• Flow Rate Sensing
• Detection/NDT
• Position Sensing
• Navigation and Electronic Compass
• Others

By End-User Industry:

• Transportation
• Automotive
• Marine
• Railway
• Consumer Electronics
• Consumer appliances
• Smartphones
• Gaming consoles
• Wearables
• Consumer drones
• Others (Cameras, PCs, and Laptops)
• Banking, Financial Services, and Insurance (BFSI)
• Currency Sorter/Detector/Counter
• POS Terminal
• ATM
• Healthcare
• Aerospace & Defense
• Industrial
• Others (F&B, Energy & Power, and Research)

Magnetic sensor market for consumer electronics end-user industry expected to grow at highest CAGR between 2019 and 2024

The magnetic sensor market for the consumer electronics industry is in the growth phase and is expected to witness demand in the coming years owing to the new applications such as motion gaming and navigation being introduced in devices such as mobile phones.

>10 gauss range expected to hold major share of magnetic sensor market during forecast period

>10 gauss range is expected to dominate the overall magnetic sensor market during the forecast period. The automotive segment is the major revenue pocket for the magnetic sensor market. The BIAS magnetic sensor technology, mainly comprising Hall and GMR sensors, is widely used in automotive applications.

Magnetic sensor market in APAC expected to grow at highest CAGR during forecast period

Magnetic field sensors have a growing demand in APAC owing to the increasing focus of the region toward automotive, consumer electronics, and healthcare sectors. In this study, the magnetic sensor market in APAC has been divided into India, China, Japan, South Korea, and Rest of APAC. China is the largest automotive and consumer electronics manufacturing country in the world.

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