The global magnetic sensor market is estimated to grow at a CAGR of over 6% during the forecast period. The key players operating in the global magnetic sensor industry include NXP Semiconductors N.V., Honeywell International Inc., Infineon Technologies AG, ST Microelectronics N.V., Texas Instruments Inc., Alps Alpine Co. Ltd., AMS AG, and Asahi Kasei Microdevices Corp., among others. These players are significantly contributing to the market.
Some of the strategies that are majorly being adopted by these players include new products and services offering, expansion, and mergers & acquisitions, among others. For instance, NXP Semiconductors offers a wide range of magneto-resistive sensors for several applications that range from magnetic anomaly detection and E-compass navigation applications for IoT, Consumer, Medical, and Industrial Applications to angle sensing and speed sensing for automotive applications among others.
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Honeywell International Inc. provides various ranges of magnetic sensors for various applications. In November 2017, Honeywell introduced the new series of indoor motion detection sensors, named IS3000 and DT8000 Series. These advanced series of motion sensors provide easier installations and protection. Thus, helps the company to enhance its product portfolio and cater to the customer’s needs in the global magnetic sensors industry landscape.
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In November 2017, Honeywell International Inc. introduced the new Quadrature Speed and Direction sensors, named Mag Speed Quadrature, SNG-Q Series output speed and direction sensor. It provides reliability along with high-performance accuracy.
Infineon Technologies AG includes magnetic sensors ranging from AMR-based magnetic sensors, 3D Magnetic Sensors, and magnetic position sensors. In June 2019, Infineon Technologies AG launched the latest AMR-based angle sensor, named XENSIV TLE5109A16 for the angle measurement for several safety levels in automotive and a wide range of industrial applications. Also, these include position measurement in brushless DC motors for position measurements of valves, wipers or brakes, flaps or pedals, pumps and steering angle measurement. Thus, the launch of such a product will enhance the company’s product offerings and hence it will serve its customers.
In September 2017, Silicon Labs introduced a sensor based on Hall effect that offers sensitivity, is power-efficient, flexible I2C configuration. Silicon Labs’ new Si72xx portfolio comprises the advanced feature-rich magnetic sensors in a broad range of open and close and position-sensing applications. Thus, improving the product offering of the company.
Current Market Trends Covered in the Global Magnetic Sensors Market Report:
- Increase in the automotive sector is positively affecting the magnetic sensor market growth
- Shifting of consumer preferences toward the use of novel and advanced electronic products is expected to provide a growth rate to the magnetic sensor market
- Hall Effect technology segment will account for a significant share in the market
- The novel innovations and geographical expansions will be the key strategy of the players
- The Asia-Pacific will have a prominent growth share in the market
Global Magnetic Sensor Market – Segmentation
By Technology
- Hall Effect
- Magneto Resistive Sensors
- SQUID Sensors
- Others
By Application
- Consumer Electronics
- Automotive
- Industrial
- Others
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