Global Magnetic Field Sensor Market Size, Share, Opportunities, And Trends By Type (Hall Effect Sensors, Squid Sensors, Magnetoresistive Sensors, Fluxgate Sensors, Others), By Application (Speed Sensing, Position Sensing, Flow Rate Sensing, Navigation, Others), And By Geography - Forecasts From 2023 To 2028

The global magnetic field sensor market is projected to witness a compound annual growth rate of 8.30% during the forecast period to reach a total market size of US$4.130 billion by 2022, increasing from US$2.559 billion in 2016. The rapidly growing automotive industry is poised to drive the market for magnetic field sensors over the projected period. Continuous advancements in the consumer electronics and aerospace & defense industry will further augment the market growth for magnetic field sensors. The proliferation of IoT and the increasing application of these sensors across various industry verticals will increase the demand for more powerful magnetic field sensors. However, the technical limitations of these sensors are expected to restrain their market growth.

Research Methodology

The report provides a brief introduction to the market and deals with detailed research methodology for calculating market size and forecasts, secondary data sources used, and the primary inputs which were taken for data validation. This section also outlines various segments which have been covered as part of the report.

Market Dynamics

The next section provides comprehensive market dynamics through an overview section along with growth drivers, challenges, and opportunities that exist in the current market. This section of the report also provides global and regional regulations which are determining the market growth and industry value chain analysis of the global magnetic field sensor market. Complete industry analysis has also been covered through Porter’s five forces model as a part of this report section.

Competitive Insight

The major players discussed in this report include Allegro MicroSystems, LLC, TDK Corporation, Honeywell International Inc., Asahi Kasei Microdevices Corporation, and Melexis among a few others.

Segmentation

In the report, the global Magnetic field sensor market has been segmented by type, application, and geography:

• By Type

• Hall Effect sensors
• Squid sensors
• Magnetoresistive sensors
• Fluxgate sensors
• Others

• By Application

• Speed sensing
• Position sensing
• Flow Rate sensing
• Navigation
• Others

• By Geography

• North America
• South America
• Europe
• Middle East and Africa (MEA)
• Asia Pacific (APAC)