Global On-board Magnetic Sensor Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

“Global On-board Magnetic Sensor Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by MarketResearch.biz. The global on-board magnetic sensor market report has been segmented on the basis of type, magnetic density, vertical, and region.

Global On-board Magnetic Sensor Market: Overview

On-board sensors are type of sensors calibrated after they mounted on circuit board. Magnetic sensors convert magnetic or magnetically coded information to electrical signal in order to be processed by electrical circuits. Magnetic sensors require low power consumption and have high sensitivity, high temperature operation, and reliability. Magnetic sensors are used in various applications such as automobiles, consumer electronics, white goods, security systems, and home automation, and various industrial sectors.

Global On-board Magnetic Sensor Market: Dynamics

Growing usage of on-board magnetic sensors in consumer electronics sector is a major factor driving growth of the global on-board magnetic sensor market. Magnetic sensors are mainly used for position detection, proximity switching, and position sensing. Increasing adoption of on-board magnetic sensors for navigation is another factor fueling growth of the global market. Growing use of on-board magnetic sensor in automotive industry is another major factor expected to support growth of the target market. Furthermore, growing demand for on-board magnetic sensors in IoT applications is a factor expected to boost growth of the global on-board magnetic sensor market in the near future.

However, possibility of inconsistent magnetic field is a factor that may hamper growth of the global on-board magnetic sensor market. Nevertheless, growing adoption of on-board magnetic sensors in electric and hybrid vehicles can bring revenue opportunities for major manufacturers in the global market.

Global On-board Magnetic Sensor Market: Segment Analysis

On the basis of magnetic density, the more than 10 Gauss (Bias Magnetic Field Sensors) segment is expected to contribute highest revenue share in the global market. Growing use of bias magnetic field sensors in industrial sector for various applications is a factor supporting growth of this segment in the global on-board magnetic sensor market. On the basis of vertical, the automotive segment is expected to contribute for major share in terms of revenue in the global market.

Global On-board Magnetic Sensor Market: Regional Analysis

Currently, market in Asia Pacific is estimated to dominate in the global market in terms of revenue, and is expected to continue to dominate over the forecast period. Increasing adoption of consumer electronic products such as smartphones, cameras, laptops, etc., especially in China, is a key factor driving growth of the target market in this region. Moreover, increasing investments in healthcare sector to expand infrastructure and rising medical tourism activities owing to low treatment costs are other major factors expected to have a positive impact on the global on-board magnetic sensor market growth. Markets in North America and Europe are anticipated to account for significant shares in terms of revenue, followed by other regional markets. Rapidly growing aerospace & defense sector in countries in North America & Europe markets in expected to support growth of the on-board magnetic sensor market in these regions.

Global On-board Magnetic Sensor Market Segmentation:

Segmentation by type:

• SQUID Sensor
• Hall Effect Sensor
• Magnetoresistive Sensor
• Others (Reed, Magnetodiode, Optically Pumped, luxgate Sensor, etc.)

Segmentation by magnetic density:

• More than 10 Gauss (Bias Magnetic Field Sensors)
• 1 Microgauss to 10 Gauss (Earth Field Sensors)
• Less than 1 Microgauss (Low-Field Sensors)

Segmentation by vertical:

• Aerospace & Defense
• Healthcare
• Automotive
• Industrial
• Consumer Electronics
• Others (Transportation, Energy and Power, Food & Beverages, etc.)

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa