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    On Board Magnetic Sensor Market Report

    On Board Magnetic Sensor Market Report
    Report code - SR1592 Delivery - 2 Weeks
    On-Board Magnetic Sensor Market Size, Share, Trend, Forecast, & Industry Analysis: 202 See more...

    Market Insights

    The Global On-Board Magnetic Sensor Market is estimated to grow from USD 1.66 billion in 2021 to USD 2.96 billion by 2028 at a healthy CAGR of 8.54% during the forecast period of 2022-2028.

    On-Board-Magnetic-Sensor-Market-Size

    What is On-Board Magnetic Sensor?

    The on-board magnetic sensors are sensors which are assessed after these are placed on the circuit board. The magnetic sensors devices, used for the identification of any fluctuations and disturbance in the magnetic field. They can work on the principle of a transducer, measures the magnetic field, and then convert it into an electrical signal. These sensors have low power consumption, highly reliable, and a cost-effective solution for magnetic parameters.

    Market Drivers

    The On-Board Magnetic Sensor market is mainly driven by surging demand for the use of electronic consumer goods across the globe. Moreover, technology developments tend to surge the demand for innovations in the internet of things (IoT) and rising activities in the automotive bolster the market growth. In addition to this, growing adoption of the magnetic sensors in the navigation sector due to its capabilities of position detection, proximity switching, and others further augments the industry growth during the review period.

    Covid-19 Impact Analysis

    The outbreak of COVID-19 has negatively impacted the on-board magnetic sensor industry mainly due to lockdowns imposed by the governments around the world to prevent the spread of COVID-19. Continuous spread as well as unavailability of appropriate therapeutic & diagnostic systems hinders the market growth.

    On-Board-Magnetic-Sensor-Market-Snapshot

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    Key Players

    Key players operating in the global On-Board Magnetic Sensor Market are-

    • Asahi Kasei Microdevices Corporation (Japan)
    • Austria Mikro Systeme (Austria)
    • HONEYWELL INTERNATIONAL INC. (US)
    • Infineon Technologies AG (Germany)
    • Kohshin Electric (Japan)
    • Melexis NV (Belgium)
    • Murata Manufacturing Co., Ltd. (Japan)
    • Sensitec GmbH (Germany)
    • TE Connectivity (Switzerland)
    • Austria Mikro Systeme (AMS) AG (Austria)

    Segment Analysis

    Type Trends

    Based on type, the on-board magnetic sensor market has been classified into Hall Effect sensors, magnetoresistive sensors, squid sensors, and others. The magnetoresistive segment accounted for a significant market share in 2021. These sensors exhibit a wide operating range and possess features & functionalities such as low power, inherently low hysteresis, and high linearity for improved measurement accuracy compared to Hall Effect sensors.

    Regional Trends

    By region, the North American On-Board Magnetic Sensor market held a significant share in 2021 and is expected to grow at a significant CAGR during the review period. The on-board magnetic sensor market growth is mainly propelled by increasing penetration of smartphones, tablets, and laptops, which will increase the adoption of the on-board magnetic sensor. Also, increasing consumer spending as well expanding electronic sector further boosts the regional market growth.

    The Asia-Pacific On-Board Magnetic Sensor market is expected to grow at a healthy CAGR during the review period. The regional growth is ascribed to surging demand for consumer electronic devices such as smartphones, laptops, and cameras in China, India, and Southeast Asian countries. The implementation of a wide range of sensors even in budget smartphones and the growing demand for fitness bands.

    Research Methodology

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

    Target Audience

    The target audience of On-Board Magnetic Sensor Market includes-

    • On-Board Magnetic Sensor Vendors
    • On-Board Magnetic Sensor Manufacturers
    • On-Board Magnetic Sensor Distributors
    • Organizations
    • Government Bodies.

    Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The on-board magnetic sensor market is expected to witness an impressive growth of 8.54% CAGR during 2022-2028.

    Asahi Kasei Microdevices Corporation (Japan), Austria Mikro Systeme (Austria), HONEYWELL INTERNATIONAL INC. (US), Infineon Technologies AG (Germany), Kohshin Electric (Japan), Melexis NV (Belgium), Murata Manufacturing Co., Ltd. (Japan), Sensitec GmbH (Germany), TE Connectivity (Switzerland), Austria Mikro Systeme (AMS) AG (Austria) are among the key players in the market.

    The on-board magnetic sensor market size is expected to reach USD 2.96 billion in 2028.

    The magnetoresistive segment accounted for a significant share of market in 2021.

    North America is expected to grow at a significant CAGR in the market in the next five years.

    On-Board Magnetic Sensor Vendors, On-Board Magnetic Sensor Manufacturers, On-Board Magnetic Sensor Distributors, Organizations, Government Bodies are the target audience in the market.