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  • On-Board Magnetic Sensor Market Growth Analysis | 2023-2028

    On-Board Magnetic Sensor Market Growth Analysis | 2023-2028

    On-Board Magnetic Sensor Market Growth Analysis | 2023-2028
    Report code - SR1592 Delivery - 2 Weeks
    On-Board Magnetic Sensor Market Size, Share, Trends, Forecast, & Growth Analysis -&nbs See more...

    Market Insights

    The on-board magnetic sensor market was estimated at USD 1.8 billion in 2022 and is likely to grow at a CAGR of 8.62% during 2023-2028 to reach USD 2.96 billion in 2028.

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    What is an on-board magnetic sensor?

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

    Covid-19 Impact Analysis

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

    On-Board Magnetic Sensor Market Report Highlights

    Market Size in 2022

    USD 1.8 billion

    Market Size in 2028

    USD 2.96 billion

    Market Growth (2023-2028)

    8.62% CAGR

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    Key Players

    Key players operating in the global 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)

    Market Dynamics

    The on-board magnetic sensor market is mainly driven by surging demand for the use of electronic consumer goods across the globe. Moreover, technological 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, the growing adoption of magnetic sensors in the navigation sector due to their capabilities of position detection, proximity switching, and others further augments the industry's growth during the review period.

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    Segment Analysis

    By Type

    Based on type, the market has been classified into Hall Effect sensors, magnetoresistive sensors, squid sensors, and others. The magnetoresistive segment accounted for a significant market share in 2022. 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 Insights

    By region, the North American market held a significant share in 2022 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 as expanding the 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.

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    Critical Questions Answered in the Report

    • What are the key trends in the global market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on the global market?
    • What are the key strategies adopted by the major vendors to lead in the market?
    • What is the market share of the top vendors?

    Market Segmentation

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

    The on-board magnetic sensor market is segmented into the following categories.

    By Type

    • Hall Effect Sensors
    • Magnetoresistive Sensors
    • SQUID Sensors
    • Others

    By End-Use Type

    • Automotive
    • Consumer Electronics
    • Healthcare
    • Aerospace & Defense
    • Industrial
    • Others

    By Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, The UK, Russia, and The Rest of Europe)
    • Asia-Pacific (Country Analysis: Japan, China, India, and the Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Brazil, Argentina, and Others)

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    Research Methodology

    This report offers high-quality insights and is the outcome of a 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 books, press releases, journals, investor presentations, 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 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.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the On-Board Magnetic Sensor Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market Segment Analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirements?

    10% free customization

    Target Audience

    The target audience of the 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 to sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

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

    The on-board magnetic sensor market was estimated at USD 1.8 billion in 2022.

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

    The on-board magnetic sensor market is likely to grow at a CAGR of 8.62% during 2023-2028.

    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.

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

    The on-board magnetic sensor market is mainly driven by surging demand for the use of electronic consumer goods across the globe. Moreover, technological 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, the growing adoption of magnetic sensors in the navigation sector due to their capabilities of position detection, proximity switching, and others further augments the industry's growth during the review period.

    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.