Global Industry Analysts, Inc. announces the release of a comprehensive global report on Magnetic Sensors market. The global market for magnetic sensors is forecast to reach over US$3.2 billion by the year 2017, driven by the rapidly burgeoning demand from the automotive and cell phone end-use segments. E-compassing, the recent market find for GPS enabled cell phone devices is likely to spur rapid expansion in the magnetic sensors market.
Rise in global shipments of smartphones will increase the penetration of e-compasses and 3-axis magnetometers. Technology innovations, unique end-use applications, interoperability with devices and competitive pricing will position magnetic sensors on a robust growth trajectory. Increasing demand from developing markets of Asia-Pacific and Latin America will further enable rapid technology and product developments.
The global market for magnetic sensors has been growing at a steady pace, both in terms of technology and applications. The sensors include a range of products that find applications in industrial and science frontiers as well as personal and commercial use. Position sensors, speed sensors and record heads in hard disk drives in computers are the most commonly used magnetic sensor types currently in vogue. One of the rapidly expanding application areas includes e-compassing used in passenger cars, GPS enabled hand-held devices, cell phones and dead reckoning (DR) in personal vehicle, aircraft and marine navigation. Initially, magnetic sensors were developed and used purely for navigation and tracking purposes. Over the years however, these sensors evolved in terms of sensitivity, compactness and flexibility, as a consequence of ever-growing need for enhanced technology. Today, magnetic sensors enjoy myriad uses ranging from high-priced sensors for industrial and automotive applications to low-priced devices for consumer appliances and cell phones. Ultra sensitive SQUIDs or superconducting quantum interface devices are currently the most sought after magnetic sensor types for medical applications. Detection capabilities of these new found SQUIDs are superior to other existing technologies, a major reason for their increase in popularity.
Silicon-based magnetoresistive sensors, both AMR and GMR sensors, are being implemented in a variety of new applications thus posing a challenge for traditional hall devices. Manufacturers are investing more on further improvements in GMR technologies, attributed mainly to the significant growth in the HDD area density. Magnetic sensors are fast replacing outdated equipment such as micro switches, potentiometers and reed switches in traditional application areas. Hall sensor ICs dominate the market along with magnetoresistive sensors including, AMR and GMR sensor types. Although the automotive and electronic segments retain dominance in the magnetic sensor market, several new areas are opening up exciting business arenas for silicon magnetic sensors. Key applications includes mobiles, desktop PCs; mobile handsets; gaming; audio and video devices and personal electronics among others. Technological advancements and miniaturization run parallel in the magnetic sensors market. Platforms for miniaturizing the dimensions of sensors are provided by the silicon processing and MEMS (Micro-Electro-Mechanical-Systems) technologies.
The global market for magnetic sensors was marginally impacted by the recent economic recession during the years 2008-09. With the crisis hitting all major end-use industries, growth in the market remained relatively flat during the period. However as demand surged in 2010, mainly from the automotive, consumer and industrial markets the pre-crisis strong growth level reemerged for the market.
The US and Europe represent equal contenders in the magnetic sensors market, as stated by the new research report on Magnetic Sensors. Asia-Pacific, led by technology-centric markets of India, China, Korea and Taiwan is expected to forge ahead at the overall fastest compounded annual growth rate of 12% through 2017. By product segment, Hall Sensor ICs constitutes the largest market globally. With respect to long-term potential, the giant magnetoresistive (GMR) sensors are poised to take the lead, expanding at a CAGR of over 12%. The end-use application segment, Electronics, dominates the magnetic sensors market, trailed closely by the automotive segment. Both the markets are also poised for a robust growth rate over the years as newer application areas are developed.
Key market participants profiled in the report include Allegro MicroSystems, Inc, Asahi Kasei Microdevices Corporation, Austriamicrosystems AG, Honeywell International, Inc, Infineon Technologies AG, Melexis Microelectronic Systems, MEMSIC, Inc, Micronas Semiconductor Holding AG, NVE Corporation, NXP Semiconductors N.V., and Sensitec GMBH.
The research report titled “Magnetic Sensors: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of industry and product overview, market trends and issues, technology overview, end-use analysis, technological developments, product introductions, recent industry activity and profiles of market players worldwide. Analysis and overview is provided for major geographic markets such as US, Canada, Japan, Europe, Asia-Pacific, Latin America and Rest of World. Market analytics are provided in value (US$) terms for product segments including, Hall Sensor IC's, Anisotropic Magnetoresistive (AMR) Sensors, Hall Sensor Elements, Giant Magnetoresistive (GMR) Sensors and Others. Major end-use sectors include Aerospace & Defense, Automotive, Industrial, Electronics and Others. The study also provides historic data for an insight into market evolution over the period 2003 through 2008.
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