Global Magnetic Field Sensor Market to Top $7.5 Billion by 2026
October 7, 2019 | Business WireEstimated reading time: 1 minute
The Global Magnetic Field Sensor market accounted for $3.00 million in 2017 and is expected to reach $7.55 million by 2026 growing at a CAGR of 10.7%.
Factors such as growth in automotive industry and endless growth in consumer electronics segment are driving the market. However, falling average selling prices (asps) of semiconductors and sensors is hampering the Magnetic Field Sensor market.
Magnetic field sensor is a device used to contemplate the magnetic field around the loop, electrical device and around changeless magnets. Magnetic field sensors comprise of pivoting sensor tip which estimates both transverse and longitudinal attractive fields around the items. The magnetic sensor utilizes "Hall Effect" (produces voltage difference across an electrical conductor, transverse to electric current) transducer that estimates the vector component of the magnetic field close to the sensor tip.
Based on end user, the consumer electronics industry is going to have a lucrative growth in the development stage and is relied to witness demand in the coming years due to the new applications, such as motion gaming and navigation being presented in gadgets, such as cellphones. The presentation of new innovations will expand the development period of the attractive field sensor market. Magnetic sensors additionally assume a significant job in giving critical directional information to drones. Subsequently, there is gigantic development potential for magnetic sensors in consumer drone applications.
By geography, magnetic field sensors have a developing interest in the Asia Pacific region owing to the expanding focal point of the region automotive, consumer electronics, and healthcare sectors. China is the automotive and consumer electronics manufacturing nation. Hence, the quickest development in APAC will be found in China for the most part because of the applications, such as ABS technology and central locking systems wherein magnetic field sensors are to a great extent utilized.
Suggested Items
ZESTRON Welcomes Whitlock Associates as New Addition to their Existing Rep Team in Florida
04/19/2024 | ZESTRONZESTRON, the leading global provider of high-precision cleaning products, services, and training solutions in the electronics manufacturing and semiconductor industries, is thrilled to announce the addition of Whitlock Associates to its esteemed network of sales representatives.
IPC Bestows Posthumous Hall of Fame Award to Industry Icon Michael Ford
04/18/2024 | IPCIPC honored the late Michael Ford, Aegis Software, for his extraordinary contributions to the global electronics manufacturing industry with the IPC Raymond E. Pritchard Hall of Fame Award at IPC APEX EXPO 2024. IPC’s most prestigious honor, the Hall of Fame Award is given to individuals who have provided exceptional service and advancement to IPC and the electronics industry. Ford, an industry leader and valued IPC volunteer, died suddenly in January 2024.
SEMI Applauds U.S. Chips Act Award for Samsung Electronics Facilities to Strengthen Domestic Semiconductor Supply Chain
04/17/2024 | SEMISEMI, the industry association serving the global electronics design and manufacturing supply chain, applauded the United States Department of Commerce’s announcement of a Preliminary Memorandum of Terms for an award under the CHIPS and Science Act to support the expansion of Samsung Electronics’ presence in Texas and the company’s development and production of leading-edge chips.
Northrop Grumman honors Calumet Electronics with Supplier Excellence Award
04/17/2024 | Calumet ElectronicsNorthrop Grumman Corporation has recognized Calumet Electronics during the company’s 2024 Supplier Excellence Awards for “exceptional performance and unwavering commitment to delivering with excellence.” Calumet is one of 70 suppliers recognized from across the globe. In its award category of “Supplier Strategic Excellence,” Calumet was honored alongside global corporations such as Amazon Web Services, Dell Technologies, and Eaton Corporation.
Ark Electronics Expands Global Manufacturing Factory Network in North America and Europe
04/17/2024 | PRNewswireElectronic Manufacturing Company Ark Electronics recently announced the expansion of its Global Factory Network with the addition of Electronics Manufacturing Service (EMS) capabilities in Mexico and Europe.