While increasing demand for magnetic sensors in automated vehicles, consumer electronics, and healthcare items leads to increased shipment, price erosion severely limits sales growth. This is due in part to the increased competition among magnetic sensor manufacturers.
Rapid innovation in new portable, consumer, and IoT applications results in pricing pressure and a drop in sales of magnetic sensors, particularly for high-volume applications. As a result, manufacturers are being driven to reduce the cost of magnetic sensors.
Key Takeaways from Magnetic Sensor Market
· The United States currently controls around 23% of the magnetic sensor market. Furthermore, between 2022 and 2032, the US market is expected to produce an absolute dollar potential of US$ 128 Mn, rising at a 3.8% CAGR during the projected period.
· Between 2022 and 2032, China is estimated to represent 11.7% of the APAC magnetic sensor market, with a CAGR of more than 5.5%.
· Germany is predicted to maintain its dominance in the European magnetic sensor market during the forecast period.
· The Hall effect magnetic sensor technology category is estimated to dominate the magnetic sensor market with a 45.9% share during the forecast period.
· The automobile category is expected to hold 45.3% of the magnetic sensor market.
“To advance their market position and domain expertise, manufacturers of magnetic sensors are expanding their investments in magnetic sensing technologies such 3D sensing, tunnel magnetoresistance (TMR), and giant magnetoresistance (GMR). – FMI Analyst
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Competition Landscape in the Magnetic Sensor Market
The magnetic sensor market is undergoing fierce competition among key companies due to a fragmented and highly concentrated competitive landscape. New product developments and recent breakthroughs in sensing technology are driving the worldwide magnetic sensor market.
Another strategy employed by magnetic sensor producers is a significant investment in R&D activities for the development of upgraded sensory components. To address the needs of diverse end-use verticals, manufacturers propose to produce sensors with functions such as motion detection, speed, and proximity.
Among the top competitors in the protein hydrolysate ingredients market are
- Arla Food Ingredients,
- Costantino & C. spa,
- Armor Proteines,
- Kerry Group Plc,
- Glanbia Plc,
- Carbery Group Limited,
- Davisco Foods International, Inc.,
- Hilmar Ingredients,
- FrieslandCampina N.V.,
- Tate & Lyle plc,
- Abbott Laboratories,
- Agropur Inc.,
- Danone S.A., and
- Fonterra Co-operative Group Limited.
Recent Developments in the Magnetic Sensor Market:
· In June 2020, Asahi Kasei Corporation unveiled the AK8781, a latch-type Hall IC with an ultra-compact package that is suitable for small DC brushless (BL) motors. It is a small, quick response time package that is perfect for high-temperature applications. The introduction of this product aims to further the micro-miniaturization and high efficacy of DCBL motors.
· To provide ground-breaking medical imaging solutions for cardiac diagnostics, TDK Corporation announced in April 2020 a partnership with Genetesis, a magnetocardiography (MCG) technology company with headquarters in the United States and a world leader in non-invasive biomagnetic imaging systems.
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Magnetic Sensor Market By Category
By Technology:
- Hall Effect Magnetic Sensor
- AMR Magnetic Sensor
- GMR Magnetic Sensor
- TMR Magnetic Sensor
By Application:
- Magnetic Sensor for Industrial
- Magnetic Sensor for Automotive
- Magnetic Sensor for Consumer Electronics
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
Table of Content
1. Executive Summary
1.1. Market Overview
1.2. Market Analysis
1.3. Analysis and Recommendations
1.4. Wheel of Fortune
2. Market Introduction
2.1. Market Taxonomy
2.2. Market Definition
3. Market Background
3.1. Macroeconomic Factors
3.2. Forecast Factors – Relevance & Impact
3.3. Value Chain
3.4. Market Dynamics
3.4.1. Drivers
3.4.2. Restraints
3.4.3. Opportunity Analysis
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