Market Study on Magnetic Field Sensors: Applications in Consumer Electronics and Healthcare Industry to Trigger Market Sales
New York, March 15, 2023 (GLOBE NEWSWIRE) — The global magnetic field sensors market is forecast to reach US$ 6.0 billion in 2023. Overall market valuation is set to be valued at US$ 12.4 billion by the end of 2033. Between 2023 and 2033, global magnetic field sensor sales will surge at 7.5% CAGR. Hall Effect sensors will continue to dominate the global Magnetic Field Sensors Market over the next ten years. Hall Effect sensor demand is likely to rise at 7.4% CAGR from 2023 to 2033.
Rising applications across industries such as consumer electronics, healthcare, and defense is driving the global magnetic field sensors market. Increasing popularity of electric and hybrid vehicles will elevate magnetic sensor demand. Rapid adoption of automation is likely to act as a catalyst triggering sales.
Magnetic field sensors are increasingly used in healthcare, automotive, and consumer electronics sectors. They find applications in advanced medical technologies including health monitoring systems.
Click Here to Get Free Sample Copy of this Report@ https://www.persistencemarketresearch.com/samples/3222
In android operating system, magnetometers are used to report magnetic fields. In automotive industry, these sensors are used in steering systems. They also find applications in braking systems such as anti-lock braking systems.
Magnetic field sensors are also used in military & defense sector for several applications. Thus, such wide use of these sensors will trigger growth in the global market.
Key Takeaways from Magnetic Field Sensors Market Report:
- Global sales of magnetic field sensors are likely to increase at 7.5% CAGR through 2033.
- By type, hall effect sensor demand will rise at 7.4% CAGR between 2023 and 2033.
- By magnetic sensor, speed sensing segment is set to expand at 7.3% CAGR through 2033
- China magnetic field sensors market is forecast to reach US$ 1.1 billion by 2033
- Magnetic field sensor sales across the United States will exhibit a CAGR of 6.3%.
- The United Kingdom magnetic field sensors market value will total US$ 621.7 million by 2033.
- South Korea magnetic field sensors market is likely to develop at 7.9% CAGR through 2033.
“Manufacturers are focusing on developing advanced magnetic field sensors for specific applications. This will help them to increase their sales through 2033.” Says a lead Persistence Market Research analyst.
Get Full Access of this Report@ https://www.persistencemarketresearch.com/checkout/3222
Who is Winning?
Leading magnetic field sensor manufacturers include Infineon Technologies AMS AG, Allegro Microsystems, TDK Corporation, TE Connectivity, Melexis, Asahi Kasei Microdevices Corporation, Baumer Ltd, Texas Instruments, and Analog Devices Inc, and Alps-Alpine.
Recent Developments:
- In March 2020, TE Connectivity acquired Kemtron Ltd. Kemtron Ltd is a leading United Kingdom-based provider of EMI and RFI shielding, and technologies.
- In February 2018, Chirp Microsystems Inc was acquired by TDK Corporation, a Japan-based electronic and magnetic products manufacturer.
Get More Valuable Insights into Magnetic Field Sensors Market
Persistence Market Research, in its new offering, presents an unbiased analysis of the Magnetic Field Sensors market, presenting historical market data (2018 to 2022) and forecast statistics for the period of 2023 to 2033.
You Can Customize this Report As per Your Requirement Click Here@ https://www.persistencemarketresearch.com/request-customization/3222
The study reveals extensive growth in Magnetic Field Sensors in terms of
- Type (Hall Effect Sensor, Magnetoresistive sensor, SQUID Sensors and Others),
- Magnetic Sensors (Speed Sensing, Detection /NDT, Position Sensing, navigation and Electronic Compass, Flow rate Sensing and Others),
- End User (Consumer Electronics, Healthcare, Aerospace and Defense, Industrial, Transportation and BFSI)
- Across several regions.
About the Semiconductor and Electronics Division at Persistence Market Research
Persistence Market Research’s highly experienced semiconductor and electronics team aids companies from all over the world with their specific business intelligence needs through professional research, actionable insights, and strategic recommendations. With a library of over a thousand research and 1 million+ data points, the team has spent over a decade analyzing the technology business across 50+ countries. From start to end, the company provides unrivaled research and consulting services. Please get in touch with us to see how we can help.
Other Trending Reports:
- Boundary Scan Hardware Market
- Healthcare AR VR Market
- Cellular IoT Market
- Smart Logistics Market
- Stadium Lighting Market
- NB-IoT Chipset Market
- Image Intensifier Market
- UV Lamps Market
About Persistence Market Research:
Business intelligence is the foundation of every business model employed by Persistence Market Research. Multi-dimensional sources are being put to work, which include big data, customer experience analytics, and real-time data collection. Thus, working on “micros” by Persistence Market Research helps companies overcome their “macro” business challenges.
Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies’/clients’ shoes much before they themselves have a sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part.
Contact
Rajendra Singh
Persistence Market Research
U.S. Sales Office:
305 Broadway, 7th Floor
New York City, NY 10007
+1-646-568-7751
United States
USA – Canada Toll-Free: 800-961-0353
Email: sales@persistencemarketresearch.com
- ROSEN, GLOBALLY RECOGNIZED INVESTOR COUNSEL, Encourages Norfolk Southern Corporation Investors with Losses in Excess of $100K to Secure Counsel Before Important Deadline in Securities Class Action – NSC - March 25, 2023
- ROSEN, NATIONAL TRIAL COUNSEL, Encourages Horizon Bancorp, Inc. Investors to Inquire About Class Action Investigation – HBNC - March 25, 2023
- ROSEN, LEADING INVESTOR COUNSEL, Encourages Western Alliance Bancorporation Investors to Inquire About Securities Class Action Investigation – WAL - March 25, 2023
