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The Magnetic Field Sensor Market has witnessed strong growth owing to the increasing demand from various end-use industries that the magnetic field sensor caters to such as transportation, BFSI, consumer electronics, healthcare, and more.
JERSEY CITY, N.J. , July 12, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Magnetic Field Sensor Market" By Type (Hall Effect Sensor, Magneto Resistive Sensors, SQUID Sensors), By Magnetic Sensor (Speed Sensing, Detection/NDT, Position Sensing), By End-User (Healthcare, Aerospace and Defense, Industrial), and By Geography. According to Verified Market Research, the Magnetic Field Sensor Market size was valued at USD 4.04 Billion in 2020 and is projected to reach USD 7.77 Billion by 2028, growing at a CAGR of 8.51% from 2021 to 2028.
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Global Magnetic Field Sensor Market Overview
The global magnetic field sensor market is principally driven by the increasing demand from various end-use industries that the magnetic field sensor caters to such as transportation, BFSI, consumer electronics, healthcare, aerospace and defense, industrial, and more. Several other industries such as security, electronics, military, etc. depend massively on magnetic field sensors for their respective functionalities.
The emergence of wearable technologies and the widening role of magnetic flux sensors in applications are other few driving factors for the growth of the magnetic field sensor market. Wearable technologies are extensively used in consumer electronics devices. Thus the growing adoption of magnetic field sensors in consumer electronic products owing to the increase in the number of smartphone users across the globe is fueling the growth of the market over the forecast period. Additionally, the penetration of MEMS technology is also impelling the market growth of magnetic field sensors.
The major players in the market are TE Connectivity, AMS AG, TDK Corporation, Melexis, Alps Electric Co., Allegro Microsystems, Asahi Kasei Microdevices Corporation, Baumer Ltd., NXP Semiconductor, and Memsic Corporation.
Verified Market Research has segmented the Global Magnetic Field Sensor Market On the basis of Type, Magnetic Sensor, End-User, and Geography.
On-Board Magnetic Sensor Market By Type (Squid Sensors, Magnetoresistive Sensors), By Magnetic Density (>10 Gauss (Bias Magnetic Field Sensors), 1 Microgauss to 10 Gauss (Earth Field Sensors)), By Vertical (Automotive, Consumer Electronics), By Geography, Forecast, 2021-2028
Electromagnetic Surgical Navigation System Market By Technology (Electromagnetic Navigation Systems, Hybrid Navigation Systems), By Application (Neurosurgery, ENT Surgery), By End-User (Hospitals, Ambulatory Surgical Centres), By Geography, Forecast, 2021-2028
Indoor Positioning And Indoor Navigation (IPIN) Market By Technology (Global Positioning System, Global Navigation Satellite System, Magnetic Positioning, Cellular Censors, and Others), By Application (Location Based Promotion, Navigation & Positioning, Asset Tracking, Geo-Fencing, and Others), By Geography, Forecast, 2021-2028
Magnetic Magnetometers Market By Product (Stationary Magnetometers, Portable Magnetometers), By Application (Marine Survey & Research, Offshore Oil and Gas Exploration, Underwater Archaeological), By Geography, Forecast, 2021-2028
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