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Magnetic Sensor Market Size
- Report ID: GMI2994
- Published Date: Dec 2022
- Report Format: PDF
Magnetic Sensor Market Size
Magnetic Sensor Market size surpassed USD 4 billion in 2022 and is predicted to record 5% CAGR from 2023 to 2032. The rising demand for wide speed range sensing technologies in the aerospace & defense sector will support industry growth.
The surge in the adoption of navigation & electronic compass systems in the transportation & logistics sectors is another factor strengthening the magnetic sensor market potential. These devices are connected via satellite navigation systems to track logistics & transportation assets in real time. These technologies are also used extensively in route guidance and vehicle asset information, further promoting product consumption.
However, issues associated with the reliability of magnetic sensors in high-temperature environments are likely to restrain the industry progress. Hall-effect magnetic sensors, for example, can limit the current flow measurement within a radius of 10 cm. Inconsistency in detecting the current flow due to constant intervention from the external magnetic field will further cause a negative impact on the industry forecast in the short run.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Magnetic Sensor Market Size in 2022: | 4 billion (USD) |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 5% |
| 2032 Value Projection: | 9 billion (USD) |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 490 |
| Tables, Charts & Figures: | 962 |
| Segments covered: | Technology, Application, End-Use |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Magnetic Sensor Market Scope
