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Global Magnetometer Market to reach USD 2.86 billion by the end of 2030.

Global Magnetometer Market Size study & Forecast, by Product (Single Axis, 3-Axis, 3D,Others), by Form Factor (Stationary Magnetometers, Portable/Mobile Magnetometers), by Technology (MEMS, Magneto Resistive, Fluxgate/Coil, Hall Effect, Magneto Inductive, SQUID, Optically Pumped, Nuclear Precession), by Application (Consumer Electronics, Aerospace & Defense, Education & Research, Commercial, Healthcare Monitoring, Security, Forensic, Image Processing of the Magnetic Data, Others), by Type (Scalar Magnetometers, Vector Magnetometers) and Regional Analysis, 2023-2030

Product Code: ENGE-23753183
Publish Date: 10-06-2023
Page: 200

Global Magnetometer Market is valued at approximately USD 1.8 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 5.96% over the forecast period 2023-2030. A Magnetometer is used to measure the magnitude, direction, and alignment of a magnetic field may all be determined scientifically using a magnetometer. It is employed in many different industries, including geopolitics, excavation, the search for minerals, navigation, and aircraft. Consumer electronics consumption is on the rise, and the automobile industry is another important driver of market expansion. The instrument uses Tesla units to measure magnetic flux density. Metrolab Technology launched the NMR Magnetic Field Camera MFC2046 which is built on the superior sensitivity of the NMR magnetometer PT2026, with a choice of two probe-array geometries. An increase in the need for magnetometers in geophysics and mining is one reason driving the growth of the globally magnetometer market with the growing prevalence of these magnetometers in the aerospace and military industries. The three-axis magnetometer is a key component used in spacecraft telemetry for developing the magnetic purity design in the aerospace and defence industries.

The increasing use of magnetometers in the consumer electronics industry, such as household appliances, digital cameras, mobile devices, toys, electronic instruments, and other electronic equipment, will be driving the global magnetometer market during the forecast period. For instance, in Feb. 2023, MEMSIC, the world’s leading MEMS technology solution provider, launched a new AMR magnetometer MMC5616WA, as an upgrade to MEMSIC’s large-scale production of ultra-small size AMR magnetometers, to meet the needs of rich application scenarios such as wearable devices, drones, and AR/VR. Thus, the increase in the usage of consumer electronics products such as household appliances, digital cameras, smartphones, toys, electronic instruments, and other electronic equipment is likely to propel the global magnetometer market during the forecast period. Additionally, rising development of flexible magnetic sensors and expansion of the education and research industry is anticipated to create the lucrative opportunity for the market during forecast period. However, the high costs of raw materials will impede the market growth rate.

The key regions considered for the Global Magnetometer Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the magnetometer market has grown as a result of increased investment by major manufacturers and government agencies in developing next-generation aerospace and defense systems. As the automobile industry in Asia Pacific grows, more magnetometer-based vehicle detection systems are being deployed for smart parking applications. This is anticipated to drive magnetometer market value in the region also the rising supportive government initiative for the development of magnetometers are propelling the lucrative demand for the market. For instance, In October 2022, the Indian Institute of Geomagnetism (IIG), an autonomous research institution under DST, Government of India, developed an over Hauser magnetometer. The over Hauser magnetometer sensor, installed at Ali Bag Magnetic Observatory (MO), can reduce India’s dependence on commercial OH magnetometers for performing geomagnetic field measurements. North America is expected to grow significantly during the forecast period, owing to factors such as it is anticipated that higher requirements for magnetometers from the aerospace and defense industries would drive industry growth in North America. It is anticipated that more drones and unmanned aircraft (UAV) are going to employ military-grade fluxgate magnetometers which is likely to raise demand for magnetometers in North America.

Major market player included in this report are:
Bartington Instruments Ltd,
Cryogenic Limited,
Gem Systems Advanced Magnetometers,
Honeywell International Inc,
Infineon Technology India Pvt Ltd.
Lake Shore Cryotronics, Inc,
Lockheed Martin Corporation,
Marine Magnetics Corp,
NXP Semiconductors N.V,
Tristan Technologies, Inc,

Recent Developments in the Market:
Ø In September 2021, Honeywell International Inc. declared that the new 3-Axis space magnetometer design for tiny satellites has been certified. The brand-new magnetometer satisfies the needs of the emerging new space sector.
Ø In June 2020, Asahi Kasei Corporation unveiled the AK8781, an ultra-compact packaging latch-type Hall IC suitable for small DC brushless (BL) motors. It is a little package that reacts rapidly and can function in hot environments. The release of this product is predicted to contribute to the micro-miniaturization and high efficiency of DCBL motors.

Global Magnetometer Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Product, Form Factor, Technology, Application, Type, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

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 years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential 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 Product:
Single Axis Magnetometer Market
3-Axis Magnetometer Market
3D Magnetometer Market

By Form Factor:
Stationary Magnetometers
Portable/Mobile Magnetometers

By Technology:
Magneto Resistive
Hall Effect
Magneto Inductive
Optically Pumped
Nuclear Precession

By Application:
Consumer Electronics
Aerospace & Defense
Education & Research
Healthcare Monitoring
Image Processing of the Magnetic Data

By Type:
Scalar Magnetometers
Vector Magnetometers

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Magnetometer Market, by Region, 2020-2030 (USD Billion)
1.2.2. Magnetometer Market, by Product, 2020-2030 (USD Billion)
1.2.3. Magnetometer Market, by Form Factor, 2020-2030 (USD Billion)
1.2.4. Magnetometer Market, by Technology, 2020-2030 (USD Billion)
1.2.5. Magnetometer Market, by Application, 2020-2030 (USD Billion)
1.2.6. Magnetometer Market, by Type, 2020-2030 (USD Billion)

1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Magnetometer Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Magnetometer Market Dynamics
3.1. Magnetometer Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increasing Demand for Electric cars Opportunities presented by aerospace and defence industry
3.1.2. Market Challenges High production cost associated with raw material
3.1.3. Market Opportunities Growth and Expansion of the education and research industry Development of flexible magnetic sensors
Chapter 4. Global Magnetometer 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
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Magnetometer Market, by Product
5.1. Market Snapshot
5.2. Global Magnetometer Market by Product, Performance – Potential Analysis
5.3. Global Magnetometer Market Estimates & Forecasts by Product 2020-2030 (USD Billion)
5.4. Magnetometer Market, Sub Segment Analysis
5.4.1. Single Axis Magnetometer
5.4.2. 3-Axis Magnetometer
5.4.3. 3D Magnetometer
5.4.4. Others
Chapter 6. Global Magnetometer Market, by Form Factor
6.1. Market Snapshot
6.2. Global Magnetometer Market by Form Factor, Performance – Potential Analysis
6.3. Global Magnetometer Market Estimates & Forecasts by Form Factor 2020-2030 (USD Billion)
6.4. Magnetometer Market, Sub Segment Analysis
6.4.1. Stationary
6.4.2. Portable/Mobile Magnetometer
Chapter 7. Global Magnetometer Market, by Technology
7.1. Market Snapshot
7.2. Global Magnetometer Market by Technology, Performance – Potential Analysis
7.3. Global Magnetometer Market Estimates & Forecasts by Technology 2020-2030 (USD Billion)
7.4. Magnetometer Market, Sub Segment Analysis
7.4.1. MEMS
7.4.2. Magneto Resistive
7.4.3. Fluxgate/coil
7.4.4. Hall Effect
7.4.5. Magneto Inductive
7.4.6. SQUID
7.4.7. Optically Pumped
7.4.8. Nuclear Precession
Chapter 8. Global Magnetometer Market, by Application
8.1. Market Snapshot
8.2. Global Magnetometer Market by Application, Performance – Potential Analysis
8.3. Global Magnetometer Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
8.4. Magnetometer Market, Sub Segment Analysis
8.4.1. Consumer Electronics
8.4.2. Aerospace and Defence
8.4.3. Education and Research
8.4.4. Commercial
8.4.5. Healthcare Monitoring
8.4.6. Security
8.4.7. Forensic
8.4.8. Image Processing of the Magnetic Data
8.4.9. Others
Chapter 9. Global Magnetometer Market, by Type
9.1. Market Snapshot
9.2. Global Magnetometer Market by Type, Performance – Potential Analysis
9.3. Global Magnetometer Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
9.4. Magnetometer Market, Sub Segment Analysis
9.4.1. Scaler Magnetometer
9.4.2. Vector Magnetometer
Chapter 10. Global Magnetometer Market, Regional Analysis
10.1. Top Leading Countries
10.2. Top Emerging Countries
10.3. Magnetometer Market, Regional Market Snapshot
10.4. North America Magnetometer Market
10.4.1. U.S. Magnetometer Market Product breakdown estimates & forecasts, 2020-2030 Form Factor breakdown estimates & forecasts, 2020-2030 Technology breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030
10.4.2. Canada Magnetometer Market
10.5. Europe Magnetometer Market Snapshot
10.5.1. U.K. Magnetometer Market
10.5.2. Germany Magnetometer Market
10.5.3. France Magnetometer Market
10.5.4. Spain Magnetometer Market
10.5.5. Italy Magnetometer Market
10.5.6. Rest of Europe Magnetometer Market
10.6. Asia-Pacific Magnetometer Market Snapshot
10.6.1. China Magnetometer Market
10.6.2. India Magnetometer Market
10.6.3. Japan Magnetometer Market
10.6.4. Australia Magnetometer Market
10.6.5. South Korea Magnetometer Market
10.6.6. Rest of Asia Pacific Magnetometer Market
10.7. Latin America Magnetometer Market Snapshot
10.7.1. Brazil Magnetometer Market
10.7.2. Mexico Magnetometer Market
10.8. Middle East & Africa Magnetometer Market
10.8.1. Saudi Arabia Magnetometer Market
10.8.2. South Africa Magnetometer Market
10.8.3. Rest of Middle East & Africa Magnetometer Market

Chapter 11. Competitive Intelligence
11.1. Key Company SWOT Analysis
11.1.1. Company 1
11.1.2. Company 2
11.1.3. Company 3
11.2. Top Market Strategies
11.3. Company Profiles
11.3.1. Bartington Instruments Ltd Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
11.3.2. Cryogenic Limited
11.3.3. Gem Systems Advanced Magnetometer
11.3.4. Honeywell International Inc
11.3.5. Infineon Technology India Pvt Ltd.
11.3.6. Lake Shore Cryotronics, Inc
11.3.7. Lockheed Martin Corporation
11.3.8. Marine Magnetics Corp
11.3.9. NXP Semiconductors N.V
11.3.10. Tristan Technologies, Inc
Chapter 12. Research Process
12.1. Research Process
12.1.1. Data Mining
12.1.2. Analysis
12.1.3. Market Estimation
12.1.4. Validation
12.1.5. Publishing
12.2. Research Attributes
12.3. Research Assumption

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Data Collection:
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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.
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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.
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