According to Persistence Market Research, North America has the largest market for magnetic field sensor technology, followed by Europe and Asia Pacific. The U.S. and Japan are the two major markets for magnetic field sensing technology. Asia Pacific region is expected to witness highest growth in forecasted period owing to increasing domestic automotive demand in the emerging markets of India and China. The researchers offer no specific, corroborating figures, which means it’s up to you whether you believe these statements or not.
A Magnetic field sensor is a device used to study the magnetic field around coil, electrical device, and around permanent magnets. They consist of rotating sensor tip that measures both transverse and longitudinal magnetic fields around the objects. Magnetic sensors use a Hall Effect transducer that measures vector component of magnetic field near the sensor tip. The sensor measures two types of magnetic field: fields around permanent magnets and electromagnets, and second, weak magnetic fields such as Earth’s magnetic field.
According to Persistence Market Research, encouragement from the government for using eco-friendly vehicles is driving the global magnetic field sensor market. Additionally, developments in the field of automobile infotainment systems are expected to drive the global magnetic field sensor market to some extent.
Other market parameters include demand in gaming consoles, increasing popularity of electronic compasses, and continuous demand for computer and computing peripherals is expected to increase further demand for magnetic field sensor technology. However, inconsistency of a magnetic field sensor body, distortional variation, temperature fluctuations unavailability of aftermarket service is expected to hamper the global magnetic field sensor market.
Some of the major companies operating in the global magnetic field sensor technology are Allegro MicroSystems Inc., Asahi Kasei Microdevices Corporation, Melexis Microelectronic Systems, NXP Semiconductors, Infineon, Honeywell International, Robert Bosch GmbH and MEMSIC Inc. Need more details? Checkout the market report.