On-Board Magnetic Sensor Market is going to hit USD 1.80 billion by 2023

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Research Cosmos | Hyderabad | 12/02/2019:

Some of the main factors that drive the On-Board magnetic sensors market are the continuous growth in the use of magnetic sensors in consumer electronics and in navigation. Magnetic sensors in hybrid and electric vehicles and the increasing adoption in IoT devices can create a series of market opportunities during the forecast period.

On-Board Magnetic Sensor Market Size and Growth Rate:

The global market for On-Board magnetic sensors is expected to grow from USD 1.11 billion in 2017 to USD 1.80 billion in 2023, with a compound annual growth rate (CAGR) of 8.4% during the forecast period.

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On-Board Magnetic Sensor Market Growth Drivers and Restraints:

The most important challenge for the market is product differentiation and innovation to meet the needs of the end user. Key players such as Asahi Kasei micro devices, Infineon Technologies and TDK Corporation are continually striving to expand their product portfolio and offer new advanced versions to expand their geographic reach and expand their customer base.

Geographical Overview of On-Board Magnetic Sensor Market:

Asia-Pacific region is expected to experience the fastest growth due to the growing demand for magnetic sensors to measure rotation speed, linear position and speed in industrial and consumer electronics.

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Key Players of On-Board Magnetic Sensor Market:

Some of the leading market players of On-Board Magnetic Sensor Market are Asahi Kasei Microdevices, Infineon Technologies, TDK Corporation, Melexis NV, Sanken Electric, Murata Manufacturing, Honeywell International, TE Connectivity, Austria Mikro Systeme (AMS) AG, NXP Semiconductors N.V. and others.

 

On-Board Magnetic Sensor Market Segmentation:

By Product:

  • Hall Effect Sensors
  • Magnetoresistive Sensors
  • SQUID Sensors

By End Users/Applications:

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

By Region:

  • North America
  • South America
  • Europe
  • Asia Pacific
  • Middle East and Africa

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