Stratview Research has published a new report titled “On-Board Magnetic Sensor Market” which is segmented By Type (Hall Effect Sensors, Magnetoresistive Sensors, SQUID Sensors, Others), By End Use (Automotive, Consumer Electronics, Healthcare, Aerospace & Defense, Industrial, Others), and Region.
As per the study, the Global On-Board Magnetic Sensor Market is estimated to grow from USD 1.53 billion in 2020 to USD 2.31 billion by 2026 at a healthy CAGR of 8.6% during the forecast period.
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the market dynamics of the industry. It provides thorough analysis of the market segments which include products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis -
Based on type, the on-board magnetic sensor market has been classified into Hall Effect sensors, magnetoresistive sensors, squid sensors, and others. The magnetoresistive segment accounted for a significant market share in 2020. These sensors exhibit a wide operating range and possess features & functionalities such as low power, inherently low hysteresis, and high linearity for improved measurement accuracy compared to Hall Effect sensors.
By region, the North American On-Board Magnetic Sensor market held a significant share in 2020 and is expected to grow at a significant CAGR during the review period. The on-board magnetic sensor market growth is mainly propelled by increasing penetration of smartphones, tablets, and laptops, which will increase the adoption of the on-board magnetic sensor. Also, increasing consumer spending as well expanding electronic sector further boosts the regional market growth.
The Asia-Pacific On-Board Magnetic Sensor market is expected to grow at a healthy CAGR during the review period. The regional growth is ascribed to surging demand for consumer electronic devices such as smartphones, laptops, and cameras in China, India, and Southeast Asian countries. The implementation of a wide range of sensors even in budget smartphones and the growing demand for fitness bands.
Who are the Key Players in the Market?
This report provides market intelligence in the most comprehensive way. It also provides critical insights into the key players active in the market, that will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key players activen in the On-Board Magnetic Sensor Market:
- Asahi Kasei Microdevices Corporation (Japan)
- Austria Mikro Systeme (Austria)
- HONEYWELL INTERNATIONAL INC. (US)
- Infineon Technologies AG (Germany)
- Kohshin Electric (Japan)
- Melexis NV (Belgium)
- Murata Manufacturing Co., Ltd. (Japan)
- Sensitec GmbH (Germany)
- TE Connectivity (Switzerland)
- Austria Mikro Systeme (AMS) AG (Austria)
Key questions answered by the report
- What is the projected CAGR for revenue from the On-Board Magnetic Sensor Market during the forecast period?
- What would be the market be valued at by 2026?
- What is a major driving factor for growth of the market?
- Which region accounted for largest revenue share in the On-Board Magnetic Sensor Market?
- Which are the major market players?
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