“The Magnetic Sensor Market will register an 8% revenue-based CAGR from 2020 to 2030”, says Visiongain

01 November 2019

Magnetic Sensor Market Report 2020-2030: Forecasts by Technology (Hall Effect, AMR, GMR, TMR, Others), By Range (<1 Microgauss, 1 Microgauss–10 Gauss, >10 Gauss), By Application (Consumer Electronics, Automotive, Industrial, Others), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) and profiling of leading international and domestic companies.

In 2019, the global market size of magnetic sensors was estimated at USD 2.0 billion, while that year demand was estimated at 4,000 million units. It is expected that the market will register an 8% revenue-based CAGR from 2020 to 2030. Increased integration of magnetic sensors in various vertical industries is expected to boost market growth, backed by significant technological advances in sensing techniques.

It is expected that government mandates that require the integration of magnetic sensors in cars will have a positive impact on market growth. Magnetic sensors are a vital part of the navigation systems used in cars and smartphones, which is why their demand in these two sectors is expected to remain buoyant.

Due to the increasing demand in the automotive sector for magnetic sensors, the market is expected to exhibit a healthy growth rate throughout the forecast period. Manufacturers of sensors have emphasized the need to provide powerful instruments that can be incorporated across a wide range of applications. Such instruments enable contactless operations and wear-free angular velocity and rotation angle measurements. The approach embraced by suppliers is heavy spending in R&D programs to create innovative sensory products.

The overall magnetic sensor selling prices (ASP) are steadily declining, which is due to strong market competition. As a result, suppliers were required to shorten their margins to win long-term contracts in several end-markets for businesses. While such a decline in ASPs is expected to continue, it is expected that expanded product ranges for magnetic sensors will benefit the demand in the coming years.

In recent years, the use of robots in factory automation has gained a great deal of prominence. Factory automation solutions require both linear and angular position sensing to perform motor movements with a higher degree of precision, repeatability and accuracy. Magnetic sensors are increasingly being used for angular and linear sensing, safety switches, and proximity detection to address the growing need to improve the efficiency of production lines.

Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongain.com or call her on +44 (0) 207 336 6100.

About Visiongain
Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.

Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.

Recent News

Visiongain publishes Electronic Adhesives Market Report 2020-2030

Owing to many advances and growing sales of consumer electronics goods, the growth of the electrical & electronics industry is boosting demand for adhesives.

02 May 2020


“Increasing expenditure in IoT and process automation systems across shipping industry is expected to drive significant revenue growth in the global smart port market”

The 150+ page report offers market forecasts and analysis for 13 leading national markets and the rest of the world market. In addition, the report contains a dedicated leading companies’ chapter covering more than 13 companies leading the field in Smart Port Market.

24 April 2020


“Unmanned Traffic Management market worth $608.2 million in 2019” says Visiongain report

The unmanned traffic management market is about to enter a period of phenomenal growth and innovation. The next ten years will see the upsurge demand of unmanned traffic management.

05 February 2020


New Visiongain report: Water Quality Sensor Market 2020 – 2030

Increasing need to assess the quality of water before supplying it to the distribution system has prompted water treatment facilities to install water quality sensors, which ultimately increases demand for water quality sensor goods.

07 November 2019