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Global Magnetic Sensor Market to reach USD 3.68 billion by 2027.

Global Magnetic Sensor Market to reach USD 3.68 billion by 2027.

Product Code: EESC-89814549
Publish Date: 11-07-2021
Page: 200

Global Magnetic Sensor Market is valued approximately at USD 2.29 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 7% over the forecast period 2021-2027. A magnetic sensor detects magnetism and geomagnetism generated by magnet or current. Coiled, reed switch, hall elements, magneto resistive element and others are the types of magnetic sensors. Growing investment in technological advancements in magnetic sensor, introduction of new products by market players and rising adoption of robotics in factory automation are surging the demand for magnetic sensors. For instance, according to Mantec report of April 2020, in manufacturing sector the estimated demand of advanced robotics is expected to reach to USD 3.7 billion by 2021. Additionally, in November 2019, Allegro MicroSystems launched ATS17051, gear tooth sensor ICs, developed to provide incremental position for electric vehicle traction motors operating up to 30k RPM. This magnetic sensor is able to address the engineers’ traction motor challenges, including vibration at startup and running mode, mechanical space constraints, high rotational speed, high operating temperatures, and ISO 26262 safety requirements. Furthermore, government regulations to integrate magnetic sensors in automobiles and rising sales of electric vehicles are expected to provide opportunities to the market in coming years. For example, according to Statista the sales of plug-in electric vehicles are increased to 3.1 million in 2020 as compared to 2.17 million vehicles sold in 2019. However, inconsistent strength of magnetic field and intense pricing pressure due to highly competitive market may hamper the growth during forecast period.

Asia Pacific, North America, Europe, Latin America, and Rest of the World are considered for the regional analysis of magnetic sensors market. Asia Pacific is dominating the world in terms of revenue and expected to grow at a fastest rate during forecast period 2020-2027, due to presence of prominent market players in regions such as China and Japan coupled with prospering automotive and consumer electronics manufacturing industries.
Major market player included in this report are:

Alps Electric Co. Ltd
Asahi Kasei Baumer Ltd.
Elmos Semiconductor AG
Honeywell International, Inc.
Allegro Microsystems, Inc.
Memsic Corporation
MultiDimension Technology Co. Ltd
Microdevices Corporation
Magnetic Sensors Corporation
NXP Semiconductors

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Technology:
Hall Effect
Anisotropic Magnetoresistance (AMR)
Giant Magnetoresistance (GMR)
Tunnel Magnetoresistance (TMR)
By Application:
Consumer Electronics

By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.

Target Audience of the Global Magnetic Sensor Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. Magnetic Sensor Market, by Region, 2019-2027 (USD Billion)
1.2.2. Magnetic Sensor Market, by Technology, 2019-2027 (USD Billion)
1.2.3. Magnetic Sensor Market, by Application, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Magnetic Sensor Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Magnetic Sensor Market Dynamics
3.1. Magnetic Sensor Market Impact Analysis (2019-2027)
3.1.1. Market Drivers Rising investment in technological advancements New product launches
3.1.2. Market Restraint Intense pricing pressure Inconsistent strength of magnetic field
3.1.3. Market Opportunities Favourable government regulation Growing sales of electric vehicle
Chapter 4. Global Magnetic Sensor Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Magnetic Sensor Market, by Technology
a. Market Snapshot
5.1. Global Magnetic Sensor Market by Technology, Performance – Potential Analysis
5.2. Global Magnetic Sensor Market Estimates & Forecasts by Technology 2018-2027 (USD Billion)
5.3. Magnetic Sensor Market, Sub Segment Analysis
5.3.1. Hall Effect
5.3.2. Anisotropic Magnetoresistance (AMR)
5.3.3. Giant Magnetoresistance (GMR)
5.3.4. Tunnel Magnetoresistance (TMR)
5.3.5. Others
Chapter 6. Global Magnetic Sensor Market, by Application
b. Market Snapshot
6.1. Global Magnetic Sensor Market by Application, Performance – Potential Analysis
6.2. Global Magnetic Sensor Market Estimates & Forecasts by Application 2018-2027 (USD Billion)
6.3. Magnetic Sensor Market , Sub Segment Analysis
6.3.1. Automotive
6.3.2. Consumer Electronics
6.3.3. Industrial
6.3.4. Others
Chapter 7. Global Magnetic Sensor Market, Regional Analysis
7.1. Magnetic Sensor Market , Regional Market Snapshot
7.2. North America Magnetic Sensor Market
7.2.1. U.S. Magnetic Sensor Market Technology breakdown estimates & forecasts, 2018-2027 Application breakdown estimates & forecasts, 2018-2027
7.2.2. Canada Magnetic Sensor Market
7.3. Europe Magnetic Sensor Market Snapshot
7.3.1. U.K. Magnetic Sensor Market
7.3.2. Germany Magnetic Sensor Market
7.3.3. France Magnetic Sensor Market
7.3.4. Spain Magnetic Sensor Market
7.3.5. Italy Magnetic Sensor Market
7.3.6. Rest of Europe Magnetic Sensor Market
7.4. Asia-Pacific Magnetic Sensor Market Snapshot
7.4.1. China Magnetic Sensor Market
7.4.2. India Magnetic Sensor Market
7.4.3. Japan Magnetic Sensor Market
7.4.4. Australia Magnetic Sensor Market
7.4.5. South Korea Magnetic Sensor Market
7.4.6. Rest of Asia Pacific Magnetic Sensor Market
7.5. Latin America Magnetic Sensor Market Snapshot
7.5.1. Brazil Magnetic Sensor Market
7.5.2. Mexico Magnetic Sensor Market
7.6. Rest of The World Magnetic Sensor Market
Chapter 8. Competitive Intelligence
8.1. Top Market Strategies
8.2. Company Profiles
8.2.1. Alps Electric Co. Ltd Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
8.2.2. Asahi Kasei Baumer Ltd.
8.2.3. Elmos Semiconductor AG
8.2.4. Honeywell International, Inc.
8.2.5. Allegro Microsystems, Inc.
8.2.6. Memsic Corporation
8.2.7. MultiDimension Technology Co. Ltd
8.2.8. Microdevices Corporation
8.2.9. Magnetic Sensors Corporation
8.2.10. NXP Semiconductors

Chapter 9. Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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