According to the new market research, the overall magnetic field sensors market is expected to reach USD 4.16 Billion by 2022, at a CAGR of 8.87% between 2016 and 2022.
The major factors driving the growth of the magnetic field sensors market include the rising demand for MEMS-based sensors across industry verticals, surge in automotive industry, increasing demand for high-quality sensing devices, and continuous growth in consumer electronics applications. The market is further driven by the major role of magnetic field sensors in applications such as navigation.
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The growth of this market is driven by the rising demand for MEMS-based sensors across industry verticals, surge in the automotive industry, increasing demand for high-quality sensing devices, and continuous growth in consumer electronics applications.
The microelectromechanical systems (MEMS)-based magnetic field sensors market is expected to grow at the highest rate during the forecast period because of the wide variety of applications in the healthcare and consumer electronics sectors. MEMS-based sensor products provide an interface that can sense, process, and/or control the surrounding environment.
The market for >10 gauss or Bias magnetic field sensors is expected to hold a major share during the forecast period. These sensors are widely used in consumer electronics, industrial, and medical sectors. They are used in computer hard disk drives in laptops and computers and also in biosensors. They are used for applications such as displacement sensing, proximity detection and rotational reference. Reed switch is popular among industrial control because of its advantages as it is maintenance free and has a high resistance to dirt and contamination.
Among all the end-user industries, the market for the consumer electronics industry is expected to grow at the highest rate between 2016 and 2022. Magnetic field sensors are widely used sensors in various devices and equipment ranging from small consumer electronic devices to large home appliances. They are used in consumer electronics devices such as smartphones, laptops, computers, tablets, digital video disc (DVD) players, printers, cameras, and in large appliances such as washing machines. It is widely used in smartphones for navigational purpose as every smartphone is equipped with a global positioning system (GPS) system.
APAC held the largest market share for magnetic field sensors market in 2015. The market in APAC is expected to grow at a high rate between 2016 and 2022. The magnetic field sensors market in sectors such as consumer electronics, automotive, healthcare, and industrial is expected to witness an increasing demand in the future.
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The key players operating in the studied market such as Asahi Kasei Corporation (Japan), Sanken Electric Co., Ltd. (Japan), Infineon Technologies AG (Germany), Melexis NV (Belgium), and Micronas Semiconductor Holdings AG (Switzerland) are focusing on the strategies of new product developments and mergers & acquisitions to expand their business and leverage the benefits. For instance, in July 2016, Asahi Kasei Microdevices Corporation launched AK7451, a Zero Latency Magnetic Rotary Angle Sensor. This product has applications in motor control encoders and rotor position detectors for DC brushless motor drive.
The major factors driving the growth of the magnetic field sensors market include the rising demand for MEMS-based sensors across industry verticals, surge in automotive industry, increasing demand for high-quality sensing devices, and continuous growth in consumer electronics applications. The market is further driven by the major role of magnetic field sensors in applications such as navigation.
Get report brochure here: http://bit.ly/2jfDe8w
The growth of this market is driven by the rising demand for MEMS-based sensors across industry verticals, surge in the automotive industry, increasing demand for high-quality sensing devices, and continuous growth in consumer electronics applications.
The microelectromechanical systems (MEMS)-based magnetic field sensors market is expected to grow at the highest rate during the forecast period because of the wide variety of applications in the healthcare and consumer electronics sectors. MEMS-based sensor products provide an interface that can sense, process, and/or control the surrounding environment.
The market for >10 gauss or Bias magnetic field sensors is expected to hold a major share during the forecast period. These sensors are widely used in consumer electronics, industrial, and medical sectors. They are used in computer hard disk drives in laptops and computers and also in biosensors. They are used for applications such as displacement sensing, proximity detection and rotational reference. Reed switch is popular among industrial control because of its advantages as it is maintenance free and has a high resistance to dirt and contamination.
Among all the end-user industries, the market for the consumer electronics industry is expected to grow at the highest rate between 2016 and 2022. Magnetic field sensors are widely used sensors in various devices and equipment ranging from small consumer electronic devices to large home appliances. They are used in consumer electronics devices such as smartphones, laptops, computers, tablets, digital video disc (DVD) players, printers, cameras, and in large appliances such as washing machines. It is widely used in smartphones for navigational purpose as every smartphone is equipped with a global positioning system (GPS) system.
APAC held the largest market share for magnetic field sensors market in 2015. The market in APAC is expected to grow at a high rate between 2016 and 2022. The magnetic field sensors market in sectors such as consumer electronics, automotive, healthcare, and industrial is expected to witness an increasing demand in the future.
Request for free sample pages: http://bit.ly/2jMw1xZ
The key players operating in the studied market such as Asahi Kasei Corporation (Japan), Sanken Electric Co., Ltd. (Japan), Infineon Technologies AG (Germany), Melexis NV (Belgium), and Micronas Semiconductor Holdings AG (Switzerland) are focusing on the strategies of new product developments and mergers & acquisitions to expand their business and leverage the benefits. For instance, in July 2016, Asahi Kasei Microdevices Corporation launched AK7451, a Zero Latency Magnetic Rotary Angle Sensor. This product has applications in motor control encoders and rotor position detectors for DC brushless motor drive.
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