iCrowdNewswire Jan 13, 2021 6:00 AM ET
Market Research Future published a research report on “Magnetic Field Sensor Market Research Report – Global Forecast till 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
The global magnetic field sensor market is spanned across Americas, Europe, Asia Pacific, and Rest of world. North America dominates the magnetic field sensor market. The growing demand of magnets and electromagnets which is widely used in automotive and telecom sectors are boosting growth of magnetic field sensor market in this region. The increasing demand of sensors is extensively used in various applications including speed sensing, flow rate sensing, detection, position sensing, and others. In April 2017, Asahi Kasei MicroDevices had announced its product release of 3-axis magnetic sensor for internet of things to captures magnetic fields with vector components.
The global Magnetic Field Sensor Market can be segmented on the basis of range, type, end-users, applications, and regions.
On the basis of range, the global magnetic field sensor market can be classified on the basis of <1 micro gauss (Low-Field Sensors), 1 micro gauss–10 Gauss (Earth Field Sensors), >10 Gauss (BIAS Magnetic Field Sensors) consoles.
On the basis of type, the global magnetic field sensor market can be classified on the basis of magnetoresistive sensors, fluxgate sensors, Hall Effect sensors, SQUID sensors, and others
On the basis of end-user, the global magnetic field sensor market can be classified on the basis of consumer electronics, aerospace & defence, BFSI, transportation, healthcare, industrial, and others.
On the basis of application, the global magnetic field sensor market can be classified on the basis of flow rate sensing, speed sensing, detection, navigation and electronic compass, position sensing and others.
On the basis of regions, the global magnetic field sensor market can be classified on the basis of Europe, North America, Asia Pacific, and Rest-of-the-World (RoW).
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In-depth research of Europe, North America, Asia Pacific, and Rest-of-the-World (RoW) has been performed. The report predicts that the market is most likely to grow during the assessment period. MRFR indicates the global Magnetic Field Sensor market is estimated to be dominated by North America. The region is majorly focusing on advancing the smartphones, gadgets, and the automotive sector to gain back the lost momentum. The region is estimated to be a lucrative market and is likely to produce demands for magnetic sensors. As per the evaluation by MRFR, the second position is attained by Europe. Owing to the well-developed industries such as healthcare, BFSI is producing demands for magnetics sensors and thereby growing the market revenue. On the other hand, the Asia-Pacific region is estimated to be the fastest-growing market at a global level. Owing to the presence of developing economies such as India, China, and Japan are witnessing a growing demand for smart gadgets and magnetic sensors. In addition, the renewable energy sector is projected to participate significantly in market expansion.
The distinguished competitive players of the global magnetic field sensor market are MEMSIC Inc. (U.S.), Asahi Kasei MicroDevices (Japan), Infineon Technologies (Germany), Honeywell International Inc. (U.S.), Analog Devices, Allegro MicroSystems, LLC (U.S.), Inc. (U.S.), AMS AG (Austria), TDK Corporation (Japan), Robert Bosch GmbH (Germany), Tower Semiconductor Ltd. (Israel), and a few more,
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