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    On Board Magnetic Sensor Market Report

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

    Impact of COVID-19 on On Board Magnetic Sensor Market

    Covid-19 has impacted the market dynamics, competition, and global...

    See more...

    Impact of COVID-19 on On Board Magnetic Sensor Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Insights

    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 are have low power consumption, highly reliable, and a cost-effective solution for magnetic parameters.

    The Global On-Board Magnetic Sensor Market is estimated to grow from USD 1.53 billion in 2020 to USD 2.31 billion by 2026 at a healthy CAGR of 8.6% during the forecast period.

    On-Board Magnetic Sensor Market- Research Scope

    Base Year of Study

    2020

    Trend Period

    2015-2019

    Forecast Period

    2021-2026

    Market Size in 2020

    US$ 1.53 billion

    Market Size in 2026

    US$ 2.31 billion

    Market Growth (2021-2026)

    8.6% CAGR

     

    On-Board Magnetic Sensor Market Size,2020-2026 (USD Billion)

    On-Board-Magnetic-Sensor-Market-Forecast

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    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. 

    Segment's 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 2020. 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 2020 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.

    Critical Questions Answered in the Report

    This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global on-board magnetic sensor market. The historic years considered for the study are 2016-2019, base year is 2020, estimated year is 2021, and forecast period is 2022-2026. Following are the critical questions answered in the report.

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

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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)

    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 8.6% CAGR in the coming years.

    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 on-board magnetic sensor market.

    The on-board magnetic sensor market size is expected to reach USD 2.31 billion in the foreseeable future.

    The magnetoresistive segment accounted for a significant share of on-board magnetic sensor market in 2020.

    North America is expected to grow at a significant CAGR in the on-board magnetic sensor 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 on-board magnetic sensor market.

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