Magnetic Field Sensor Presence to SoarFebruary 15, 2012
Market Research projects magnetic field sensor penetration will reach 7.14 billion units by 2016.
ROCKVILLE, MD /Marketwire/ -- MarketResearch.com has announced the addition of the new report "Global Magnetic Field Sensors Market by Product (Angular, Revolution, Current, Position) by Technology (Hall Effect, Magneto Resistive & Inductive, Fluxgate, Squid), & Applications (Consumer, Automotive, Industrial, Aerospace & Defense) 2011–2016," to their collection of Electronics market reports.
Magnetic field sensors are expected to show good growth as they are widely used across different application segments. Early applications of these sensors were essentially direction finding, or navigation. Today, the sensors are still a primary means of navigation, but many more uses have evolved.
The automobile industry is a heavy user of magnetic field sensors, accounting for almost 40% of the total magnetic field sensors market. One of the largest applications for magnetic field sensors in automobiles is in anti-lock braking systems and engine control management systems. Traditionally, the combined consumer and computing segments form the largest user base for magnetic field sensors. Typical applications include cameras, DVD players, hard disk drives, videocassette players, printers, cell phones, and washing machines. The other verticals, such as healthcare and defense, are also contributing to the overall demand.
Besides, the increasing use of these sensors in other applications, especially mobile handsets, will boost sales. Magnetic field sensors are being used as compasses in handhelds and give increased sophistication to GPS solutions. Electronic compasses are expected to give a much higher thrust, with the volume of sales set to treble from its level in 2010.
Developed markets. such as the U.S., UK, Japan, and Korea, are amongst the most technologically advanced consumer electronics, as well as automotive markets, due to the presence of prominent system suppliers, large semiconductor companies, and sensor manufacturers. The size of the region, the affluence of its consumers, and the competitiveness make it a good market for magnetic sensor manufacturers. Most of the innovations in electronics design and technology are deployed in these regions first, and then in rest of the world.
Hall effect sensors dominate the magnetic field sensors market, with more than 70% market share, while newer technologies such as AMR and GMR sensors are gradually gaining visibility. The main suppliers of Hall effect sensors are Allegro, Micronas, Melexis, Austria Microsystems, and AKM. The major vendors of AMR sensors are NXP, Sensitec, and Honeywell, while the main GMR sensors suppliers are NVE, and Hitachi.
The demand for magnetic field sensors in the year 2010 was 3.67 billion units, which is expected to reach 7.14 billion units in 2016, at a CAGR of 10.3%. In value terms, the magnetic field sensors market stood at $1.1 billion in 2010 and is expected to reach $2 billion by 2016, at 8.7% CAGR during the projected period.
The magnetic field sensor market is triggered by a lot of factors. For the magnetic sensor market, vehicle production in emerging markets, increasing demand in gaming consoles, increasing popularity of electronic compasses, and continuous demand from computers and computing peripherals are acting as drivers. Competition within the technologies, inconsistence in magnetic field strength, and the unavailability of a strong aftermarket are acting as restraints. The advancement of hybrid sensors and growth in hybrid and electric vehicle are the future opportunities for magnetic field sensors.
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