Currently, the increase in the integration of magnetic sensors in various industries supported by the technological advancements in sensing techniques is boosting the Magnetic Sensors Market. These sensors are majorly used for linear position, linear angle, rotational speed, speed, and position measurement in industrial, automotive, and consumer electronics. Specifically, the automotive sector has emerged as the global market leader for the magnetic field sensor. Growing concerns regarding the occupant safety in automobiles have created opportunities for magnetic field sensors that are used in various safety applications such as steering-angle sensing, Electronic Stability Control (ESC) systems, Anti-Lock Braking Systems (ABS), and force and torque sensing. Owing to an increase in the demand from multiple verticals, the global magnetic sensors market size evaluated $3.7 billion as of 2018 and is projected to grow at an increasing CAGR of 8% during the forecast period 2019-2025.

Magnetic Sensors Growing in Use and Shrinking in Size

Over the past few decades, the use of magnetic sensors has propelled due to higher quality and lower cost of magnetoresistive (M.R.) sensors and Hall Effect. Hall-effect solutions are famous as they outperform mechanical switches, reed sensors, and potentiometers at an excessive-performance level due to its elimination of mechanical wear and vitality. The MR sensors are elevated to high linearity and low hysteresis to improve measurement accuracy. Additionally, Microelectromechanical magnetic-field sensors (MEMS) are small devices that are used for measuring and detecting the magnetic fields. MEMS magnetic sensors are small in size and are ideal for highly integrated products. It also aids in capturing the data from MEMS such as hard disks, temporary memory processing units, and MRAMs.

According to the Institute of Defense Analyses, by 2026, the total of 3,000 satellites are expected to be launched. Following this, the demand for magnetic sensors is continuously growing in the aerospace application. Small magnetic sensors are commonly used in vehicles, medical devices, and mobile phones to navigate the speed, angular sensing, and position. These magnetic sensors can be used in the space industry wherein volume, mass, and power savings are considered as essential concerns. Thus, the growing developments and its use in varied applications are positively impacting the magnetic sensors market growth.

Impact of Magnetic Sensors on Applications

·         Automobile Industry

According to the International Organization of Motor Vehicle Manufacturers (OICA), the total sales of automobiles recorded in 2017 was 97 million. The rapid increase in the number of automobiles is simultaneously growing the demand for sensing devices to improve the vehicles convenience and fuel efficiency. Currently, around 20-30 magnetic sensors are used in ICE cars. During continuous operations, Giant Magnetoresistance (GMR) and Tunnel Micro Resistance (TMR) sensors demonstrated less power consumption than mW and µW. Less than their counterparts they are also easily accommodated in package sizes; therefore, the manufacturers are deploying more of these sensors into parts of the automobile. Moreover, the magnetic sensor vendors are nowadays producing more efficient devices that can work as an automotive applications range. The increase in the penetration of hybrid and electric vehicles and the use of GPS in the automobiles is also propelling the growth of the magnetic sensors market. The automotive industry is the fastest-growing application at a CAGR of 7.7% during the forecast period. In 2016, a major merger that created a huge impact in the automotive industry was between NXP Semiconductors N.V. and Freescale Semiconductors. This created a powerhouse for the automotive market by creating a separate entity worth $40 billion. The objective behind the merger was to increase sensor suppliers significantly with the fusion of magnetic sensor supplier from NXP and inertia and pressure sensors from Freescale.

·         Consumer Electronics

Magnetic sensors, an emerging trend that is expected to impact the growth of the market favorably, is the need for advanced sensing components. High penetration of feature-rich and sophisticated tablets and smartphones are impelling the demand for magnetic sensors. Along with this, magnetic sensors are being integrated into wearables such as smartwatches and fitness bands. They are an important aspect of these wearables and other consumer electronic products. According to the National Centre for Biotechnology Information (NCBI), vendors shipped around 102 million fitness bands and smartwatches worldwide in 2016. This increased the competition in the marketplace, which led to a few mergers and acquisitions. One such example is acquisition between TDK Electronics Co. and InvenSense Inc., in 2016. The companies agreed to enter into a definitive agreement, wherein TDK agreed to acquire InvenSense shares for cash worth $13.00 per share, for a total acquisition worth $1.3 billion. This acquisition was to promote the growth of sensors and actuator products, which would strengthen the market position of TDK. Furthermore, in January 2016, TDK Electronic Co. entered into a joint venture with Qualcomm Inc. and formed RF360 Holdings Singapore PTE, Ltd. The aim behind the J.V. was to expand the technical cooperation with a range of batteries, passive components, magnetic sensors, MEMS, and wireless power transfer.

·         Robotics for Factory Automation

Another area for growth of the magnetic sensors is the adoption of robotics for automation and robotics. Particularly, angular and linear position sensing plays a very vital role in the smooth functioning of the machines. These sensors are used to monitor the motor movements in terms of the accuracy and precision of the robots. With an increase in the demand for more efficient and faster production lines, the magnetic sensors are being used for proximity detection and safety switches. Owing to this, innovations are happening in the automation and robotics industries, which are surging the magnetic sensors market growth. In 2018, Infineon Technologies AG, a German semiconductor manufacturer, launched its XENSIV magnetic sensor product. It is the first magnetic sensors based on TMR technology for automotive, consumers’ electronics, and industrial applications. XENSIV sensors are designed to give customers a clear market leader in areas such as autonomous driving, robotics, and building automation.

·         Energy, Oil and Gas

Magnetic sensors are very widely used in the energy transmission and production applications. Magnetic sensors detect the speed and position of moving all the components in nuclear, oil fields, and solar and wind energy applications. The Analog Hall-Effect sensors are used to monitor the energy flow in the mentioned applications. The magnetic sensors monitor the thief hatches on oil storage tanks that function with SCADA systems to warn the operators of the oil field if the hatch is not sealed correctly. Hence, the magnetic sensors market in the energy, oil, and gas industry is expected to witness a substantial surge in the coming years.


APAC Leading the Magnetic Sensors Market

APAC is leading the global magnetic market with a regional share of 36.7% in 2018, attributed to the growing consumer electronics, manufacturing, and automotive industries. The existence of major sensor manufacturers in China and Japan and increased demand for high-tech smartphones and automobiles has catapulted the demand for magnetic sensors in APAC. Furthermore, in India and China, the demand for magnetic sensors is increasing due to the strong consumer base and technological advancement in consumer electronics. According to the Global Systems for Mobile Communications (GSMA), APAC’s mobile industry is expected to contribute $1.9 trillion, which is 5.3% of the region’s GDP by the end of 2023. As of 2018, China contributed 1.2 billion unique mobile subscribers with over 97% of these coming from Mainland China, out of which 69% were smartphones. Increasing consumption of smartphones in the region is boosting the magnetic sensors market growth.


The Major Players in the Magnetic Sensors Market

Some key players dominating the magnetic sensors market are Memsic, Elmos, Allegro Microsystems, Infineon, AKM, Honeywell, Infineon, AMS, TDK, NXP Semiconductor, T.E. Connectivity, and Melexis. Many companies are introducing new products to increase their market presence or entering into strategic mergers and acquisition, joint ventures, and partnerships. One such example of collaboration is:


· In 2019, TDK Corporation, along with Tokyo Medical and Dental University (TMDU), have jointly achieved the world’s first real-time measurement of magnetic field distribution of the cardiac activity using the M.R. sensors. This research with the collaboration of TDK and TMDU is now working on the development of measuring devices and accurate magnetic sensors for replacing the existing SQUID sensors. 


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Related Report:

MEMS Magnetic Field Sensors Market

Hall Effect Sensors Market

Automotive Sensors Market

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