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Report Overview

The global magnetic sensor market attained a value of USD 2.87 Billion in 2024. The industry is further expected to grow at a CAGR of 7.20% in the forecast period of 2025-2034 to reach a value of USD 5.75 Billion by 2034.

2024

Base Year

2018-2024

Historical Year

2025-2034

Forecast Year

Compound Annual Growth Rate

Value in USD Billion

7.2%

2025-2034


Magnetic Sensor Market Outlook

*this image is indicative*

 

Global Magnetic Sensor Market Report Summary Description Value
Base Year USD Billion 2023
Historical Period USD Billion 2018-2024
Forecast Period USD Billion 2025-2034
Market Size 2024 USD Billion 2.68
Market Size 2034 USD Billion 5.01
CAGR 2018-2024 Percentage XX%
CAGR 2025-2034 Percentage 7.2%
CAGR 2025-2034 - Market by Region Latin America 7.3%
CAGR 2025-2034 - Market by Country Canada 8.0%
CAGR 2025-2034 - Market by Country China 7.4%
CAGR 2025-2034 - Market by Technology Tunneling Magneto Resistance (TMR) 7.9%
CAGR 2025-2034 - Market by End Use Consumer Electronics 8.2%
Market Share by Country 2023 Brazil 2.6%

Magnetic Sensor Market

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The global magnetic sensor market is being driven by the rising demand for consumer electronics, electric and hybrid vehicles, and high-quality sensing devices.

Magnetic Sensor Market By Segments

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Global Magnetic Sensor Market Segmentation

Magnetic sensors are used for various purposes such as in contactless and wear-free measurement of mechanical and electrical amounts like rotation angle, angular velocity, linear position, linear velocity, and current. Magnetic sensors play a crucial role in supplying drones the critical directional data.

The various technologies used in magnetic sensors include:

  • Hall Effect
  • Anisotropic Magneto Resistance (AMR)
  • Giant Magneto Resistance (GMR)
  • Tunnelling Magneto Resistance (TMR)
  • Others

The industry can be segmented based on End Use:

  • Transportation
  • Consumer Electronics
  • Healthcare
  • Aerospace and Defence
  • BFSI
  • Others

Market Breakup by Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
CAGR 2025-2034 - Market by Country
Canada 8.0%
China 7.4%
UK 7.3%
Mexico 6.8%
Germany 6.8%
USA XX%
France XX%
Italy XX%
Japan XX%
India XX%
Australia XX%
Saudi Arabia 6.7%
Brazil XX%

Global Magnetic Sensor Market Analysis

The global magnetic sensor market is being driven by technological advancements. The rising demand for reliable, high-performance, and low-cost sensor is further propelling the growth of the industry. The Asia Pacific is expected to lead the industry as a result of an increasing focus on the automotive, consumer electronics, and healthcare industries, with China being the largest producer for automotive and consumer electronics due to the speedy growth of gaming industry in the region. The consumer electronics magnetic sensor market is anticipated to grow at the fastest rate due to the introduction of new apps like movement gaming and navigation.

Competitive Landscape

The report presents a detailed analysis of the following key players in the global magnetic sensor market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Asahi Kasei Microdevices Corporation
  • Allegro MicroSystems, Inc.
  • Infineon Technologies AG
  • TDK Corporation
  • TE connectivity Corporation.
  • Melexis NV
  • NXP Semiconductors N.V.
  • Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s five forces.

Magnetic Sensor Market Report Snapshots

Magnetic Sensor Market Size

Magnetic Sensor Market Analysis

Magnetic Sensor Companies

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2024, the global magnetic sensor market attained a value of nearly USD 2.87 Billion.

The market is projected to grow at a CAGR of 7.20% between 2025 and 2034.

The market is estimated to witness a healthy growth in the forecast period of 2025-2034 to reach about USD 5.75 Billion by 2034.

The major drivers for the market include the rising demand for consumer electronics, electric and hybrid vehicles, and high-quality sensing devices, and the growing technological advancements, are expected to aid the market growth.

The key trend guiding the market growth includes the introduction of new apps like movement gaming and navigation.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

Hall effect, anisotropic magneto resistance (AMR), giant magneto resistance (GMR), and tunnelling magneto resistance (TMR), among others, are the significant technology segments of the product in the market.

Transportation, consumer electronics, healthcare, aerospace and defence, and BFSI, among others, are the major end use sectors of magnetic sensor in the market.

The major players in the market include Asahi Kasei Microdevices Corporation, Allegro MicroSystems, Inc., Infineon Technologies AG, TDK Corporation, TE connectivity Corporation., Melexis NV, NXP Semiconductors N.V., Others.

Report Summary

Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.

Key Highlights of the Report

Please note that the figures mentioned in the description serve as estimates and may vary from the actual figures presented in the final report.

REPORT FEATURES DETAILS
Base Year 2024
Historical Period 2018-2024
Forecast Period 2025-2034
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Technology
  • End Use
  • Region
Breakup by Technology
  • Hall Affect
  • Anisotropic Magneto Resistance (AMR)
  • Giant Magneto Resistance (GMR)
  • Tunneling Magneto Resistance (TMR)
  • Others
Breakup by End Use
  • Transportation
  • Consumer Electronics
  • Healthcare
  • Aerospace and Defense
  • BFSI
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Asahi Kasei Microdevices Corporation
  • Allegro MicroSystems, Inc.
  • Infineon Technologies AG
  • TDK Corporation
  • TE connectivity Corporation.
  • Melexis NV
  • NXP Semiconductors N.V.
  • Others
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