The global magnetic sensor market is projected to reach $3.1 billion by 2028, at a CAGR of 7.1% during 2023-2028. The growth of magnetic sensor market is driven by increasing usage of magnetic sensors in transportation and consumer electronics industries along with growing demand for IOT technologies in various applications.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the
most promising, high-growth opportunities for the magnetic sensor market by product
type (hall effect, anisotropic magnetoresistance, and others), range (<1
microgauss, 1 microgauss–10 gauss, and >10 gauss), application (speed
sensing, proximity detection/NDT, position sensing, and others), end use
industry (transportation, consumer electronics, healthcare, aerospace &
defense, and others), and region?
Q.2 Which segments will
grow at a faster pace and why?
Q.3 What are the
business risks and threats to the magnetic sensor market?
Q.4 What are some
changing demands of customers in the magnetic sensor market?
Q.5 What are the new
developments in the magnetic sensor market? Which companies are leading these
developments?
Q.6 What strategic
initiatives are being implemented by key players for business growth?
Q.7 What are some of the
competitive products and processes in this magnetic sensor area and how big of
a threat do they pose for loss of market share via product substitution?
Q.8 What M&A activity has occurred in the last 5 years in this magnetic sensor market?
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Market Segmentation:
Based on product type,
the magnetic sensor market is segmented into hall effect, anisotropic
magnetoresistance, and others. The hall effect segment accounted for the
largest share of the market in 2023 and is expected to register the highest
CAGR during the forecast period, due to the growing application of these
sensors in ADAS and hybrid electric vehicles for speed as well as position
measurement.
APAC will remain the
largest region due to the increasing demand for improved vehicles and
smartphones with integrated sensors in the region and presence of key
manufacturer in China and Japan.
Key Players in the
magnetic sensor market are Alps Electric, Asahi Kasei, Baumer, Elmos
Semiconductor, Honeywell, iC – Haus, and Allegro Microsystems.
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The report helps stakeholders understand the
pulse of the market and provides them with information on key drivers, restraints,
challenges, and opportunities for market growth. It would also help to
understand the competitors better and gain more insights to improve their
position in the business.
To read more about this market please click on
https://www.lucintel.com/magnetic-sensor-market.aspx.
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
Roy Almaguer
Lucintel
Dallas,
Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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