Magnetic Sensor Market Size, By Technology (Hall Effect, Anisotropic Magneto-Resistive (AMR), Giant Magnetoresistance (GMR), Tunnel Magnetoresistance (TMR)), By Application (Speed Sensing, Position Sensing, Detection/ Non-Destructive Testing (NDT), Navigation & Electronic Compass), By End-Use (Aerospace, Automotive, Consumer Electronics, Industrial), COVID-19 Impact Analysis, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

Published Date: Aug 2021  |  Report ID: GMI2994  |  Authors: Preeti Wadhwani, Shubhangi Yadav

Report Format: PDF   |   Pages: 698   |   Base Year: 2020




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Magnetic Sensor Market size exceeded USD 2.5 billion in 2020 and is anticipated to grow at a CAGR of over 8% from 2021 to 2027. The rising trends toward robotics, automation, and Industry 4.0 across the mining, oil & gas, food & beverage manufacturing sectors are expected to boost the market growth. These industries are heavily incorporated with industrial robots, collaborative robots, conveyor systems, and automated assemblies that require a magnetic sensor for position, speed & magnetic field sensing applications. The integration of magnetic sensor with automated equipment helps to improve object detection & position sensing, increasing the productivity & safety at various industrial processes such as packaging, material handling, and pick & place application.
 

Magnetic Sensor Market Overview

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The magnetic position sensors act as an ideal solution for offering precision angle measurement in the joints of industrial & collaborative robots. These sensors provide low cost and low power alternatives compared to the traditional measurement technologies in industrial robots. The increasing government initiatives to accelerate robotics R&D and innovations will further propel the industry growth.
 

The COVID-19 pandemic has severely impacted the market with the shutdown of automotive & consumer electronics manufacturing facilities in the first half of 2020. In the early 2020, industry participants also witnessed a severe supply-chain disruption of raw-materials & components due to the international trade barriers imposed by various regulatory bodies and governments worldwide. However, the rising trend of ‘work-from-home’ has increased the uptake of laptops, tablets, and smartphones, which are highly integrated with magnetic sensor. This will add opportunities for magnetic sensor manufacturers during the pandemic.

Technological advancements in Hall-effect sensors will fuel the market progression

The Hall-effect segment dominated more than 50% of the magnetic sensor market share in 2020 and is slated to register 8% growth rate through 2027 led by the several operational capabilities offered by Hall-effect technology such as wide frequency bandwidth, linearity, and high accuracy which are highly required for speed & position sensing applications. These sensors also provide contactless measurements and pre-programmability features for the angle-sensing applications. Its ability to provide wide temperature stability in extreme environments will increase the adoption of Hall-based magnetic sensor in the industrial & automotive market.
 

Companies are extensively focusing on new innovations & developments in Hall-effect-based sensing components to stay competitive in the market. For instance, in May 2021, Allegro MicroSystems, Inc. launched the new magnetic sensing IC based on ‘Vertical Hall-effect’ technology. The new sensor provides small footprint and 3D position sensing capabilities for automotive & industrial sectors. The ongoing technological developments in coreless Hall-effect sensors will further spur the industry expansion over the forecast timeline. 
 

Increasing acceptance of magnetic position sensors in consumer electronic devices will stimulate the market value

Magnetic Sensor Market Share  

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The position sensing segment held 30% of revenue share in 2020 and is estimated to attain a CAGR of 8% by 2027 owing to the rising usage of magnetic sensor for position sensing applications in consumer electronics. Various consumer electronic devices such as wearable electronics, smartphones, gaming consoles, and Augmented Reality & Virtual Reality (AR/VR) devices are integrated with magnetic position sensors.

 

These sensors measure the angular & linear position with respect to a fixed point and have applications in gimbal systems, camera modules, and Global Positioning Systems (GPS). According to a July 2021 press release by Consumer Technology Association, the U.S. consumer electronics industry was predicted to surpass USD 487 billion revenue in 2021 with a y-o-y growth rate of 7.5% compared to 2020. The proliferation of consumer technology products in the U.S. will enhance the market potential for regional sensor manufacturers over the forecast timeline.   
 

Rising acceptance of ADAS systems in vehicle electronics will boost the market revenue

Magnetic Sensor Market Size  

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The automotive segment accounted for 35% of the magnetic sensor market share in 2020 and will showcase 8.5% gains till 2027 impelled by the growing usage of automotive safety systems in vehicle electronics. Magnetic sensor is integrated into various ADAS components such as lane departure warning systems, forward collusion warning, Adaptive Cruise Control (ACC), Automated Emergency Braking (AEB), and Electronic Stability Control (ESC), among others. These ADAS components require a magnetic sensor to measure various parameters such as position sensing, angle of rotation, and speed sensing in vehicles. Governments are taking several initiatives for safer driving, thus increasing the applications of magnetic sensor in vehicles. Stringent government regulations on the compulsory inclusion of ADAS systems in vehicles will further support the market expansion.
 

Proliferation of smart factories across the APAC economies will create growth opportunities for the industry

APAC Magnetic Sensor Market  

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Asia Pacific magnetic sensor market captured 45% of revenue share in 2020 and is poised to expand at over 9% CAGR during 2021 to 2027 on account of the rapid adoption of smart factories in the APAC economies including China, Japan, South Korea, and India. The major smart factory in the region was SAIC Volkswagen MEB, focusing on the mass production of electric vehicles. The regional government announced to add 100 new smart factories in the region by 2023. Similarly, in November 2020, the Government of South Korea announced to deploy 1,000 smart factories with 5G and AI capabilities by 2025 in the country. These smart factories are highly integrated with automated machinery, production lines, conveyors, and industrial robots that require magnetic sensor for position sensing, speed sensing, and distance sensing applications. The launch of new smart factories will add new opportunities for the regional sensor vendors.
 

Focus on new product launches to remain competitive in the industry

Key players operating in the market are Asahi Kasei Microdevices Corporation, TE Connectivity, Diodes Incorporated, ams AG, Melexis, Honeywell International Inc., and Infineon Technologies AG, among others. These participants are emphasizing on continuous R&D and new product launches to achieve competitive advantages over other leaders in the market.
 

The magnetic sensor market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million and shipments in terms of million units from 2016 to 2027 for the following segments:

Market, By Technology

  • Hall-effect
  • Anisotropic Magneto-Resistive (AMR)
  • Giant Magnetoresistance (GMR)
  • Tunnel Magnetoresistance (TMR)
  • Others

Market, By Application

  • Speed sensing
  • Position sensing
  • Detection/NDT
  • Navigation & electronic compass
  • Others

Market, By End-use

  • Aerospace
  • Automotive
  • Consumer electronics
  • Industrial
  • Others

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Poland
    • Switzerland
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Taiwan
    • Thailand
  • Latin America
    • Brazil
    • Mexico 
  • MEA
    • South Africa
    • Saudi Arabia
       

Frequently Asked Questions (FAQ) :

The market size of magnetic sensor surpassed USD 2.5 billion in 2020 and will expand at a CAGR of 8% between 2021 and 2027.
Hall-effect sensors will register a growth rate of 8% through 2027 driven by numerous operational capabilities comprising linearity, wide frequency bandwidth, and high accuracy.
The position sensing application will record a CAGR of 8% from 2021 to 2027 due to the soaring product adoption in the field of consumer electronics.
The Asia Pacific magnetic sensor industry share will exhibit a CAGR of 9% through 2027 owing to the rapid adoption of smart factories in economies including Japan, India, China, and South Korea.

Premium Report Details

  • Published Date: Aug 2021
  • Pages: 698
  • Tables: 913
  • Charts / Figures: 49
  • Companies covered: 26
  • Countries covered: 19

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