Magnetic Sensor Shipment Market Estimated to Reach $3.5 Billion by 2026

Magnetic Sensor Shipment Market Estimated to Reach $3.5 Billion by 2026

Magnetic Sensor Shipments Market
Growth of Consumer Electronics Sector Owing to Upsurge in Usage of Smartphones Driving the Growth of Magnetic Sensor Shipment Market

The Global Magnetic Sensor Shipment Market is estimated to reach $3.5 billion by 2026, growing at a CAGR of 6.2% from 2021 to 2026. Magnetic sensors are solid state devices that convert magnetic or magnetically encoded information into electrical signals for processing into electronic circuits. The Magnetic Sensor Shipment are gaining traction as they are used in various applications such as sensing position, velocity or direction movement. They are also chosen by electronics designers for use in these applications owing to their non-contact wear free operation, robust design, low maintenance and immunity to vibration, dust and water. These sensors, primarily microelectromechanical system (MEMS) based Hall Effect and AMR sensors are widely used in automotive sector as they can sense distance, speed and position. These sensors respond to wide range of positive and negative magnetic fields. The use of 3D magnetic sensors in consumer electronics sector, automotive and many other industrial verticals have driven the growth of the market.

Magnetic Sensor Shipments Market Segment Analysis – By Type

By Type, the market is segmented into Anisotropic Magneto-Resistive (AMR) Magnetometer, Hall Effect, Gaint Magneto Resistance (GMR) Magnetometer, Tunnel Magneto Resistence (TMR) Magnetometer, Squid Sensors, Fluxgate and Others. The Hall effect sensors are witnessing a significant growth in the market at 7.9% through 2026 owing to the growth of consumer electronics and automotive sector. The hall effect sensors are predominantly used in the automotive sector as they are used in hybrid and electric vehicles for position and speed measurement.

According to statistics Canada, in 2018, 2.2% of new motor vehicles registered in Canada were zero-emission vehicles (ZEVs) – either plug-in hybrid electric (PHEV) or full battery-electric (BEV) vehicles. In Nov, 2019, Volkswagen announced a plan to invest $36.9 billion in the production of electric mobility manufacturing in Germany owing to the increasing demand from the consumers in Germany region. This is driving the market not just for hall effect sensors but for all magnetic sensors including 3D Magnetic sensors.

Magnetic Sensor Shipments Market Segment Analysis – By End Users

By End users the market is segmented into Automotive, Consumer Electronics, Industrial, Robotics, Energy and Power, Healthcare, Aerospace and Defense, Banking and Finance, Others. The Automotive sector is witnessing a significant growth in the market at 7.5% through 2026 due to the upsurge in of automobile manufacturing industries, growth in demand of automobiles and use of the magnetic sensors in automotive sector. In 2019, Fiat invested more than $5.7 billion for the production of utility vehicles and electric cars. Similarly several major players such as Ford, Volkswagen and others are planning to expand their manufacturing facilities.

Ferrari has entered into a collaboration with YASA in which YASA will provide its variable speed motors for Ferrari’s hybrid series production sports car called SF90 Stradale in 2018. In March 2020, Volvo Car Group inaugurated new EV battery assembly line at Belgian manufacturing plant. The battery line will use nine stations to produce XC40 EV 78killowatt hour battery pack. The magnetic sensors are finding their opportunities through these collaboration, investments and partnerships.

Request for Sample Report @

Report Price: $ 5900 (Single User License)

Magnetic Sensor Shipments Market Segment Analysis – By Geography

By Geography the Magnetic Sensor Shipment Market is dominated by APAC with a market share of 33.5% in 2020. APAC is dominating the market owing to the growth of consumer Electronics due to the growth of smartphones and electronic gadgets, growth of healthcare centers, increased expenditures by the government for improved communications. As of 2018, China’s GDP was $13.41 trillion which is the second largest in the world after U.S. China is one of the major houses of a broad spectrum of industries such as automotive, consumer electronics, semiconductor, oil and gas, aerospace, construction and infrastructure, energy generation and so on.

South Korea based Hyundai Motor Group announced in 2019 to invest $34.65 billion in mobility technology and strategic investments by 2025. Additionally it received funds from South Korean government worth $1.5 billion to boost autonomous vehicle technology. Investments such as these will open new prospects for magnetic sensors in automotive applications. In 2019, Mitsui & Co. has planned to build a $14 million plant to manufacture electric vehicle (EV) motors in India, in partnership with leading Taiwanese motor manufacturer TECO Electric & Machinery Co., Ltd. This is anticipated to drive the market growth for Hall Effect and 3D Magnetic sensors during forecast period.

Magnetic Sensor Shipments Market Drivers

Growth of consumer electronics sector owing to upsurge in usage of smart phones:

In recent years the growth of the consumer electronics sector owing to the growth of laptops, tablets and other electronic gadgets largely for business needs, work from home scenario, online classes, gaming sectors are accelerating the market growth. Owing to the magnetic sensors smartphones are equipped with geophysical sensor technology deployed for geophysical data acquisition. In addition, the smartphones are equipped with multiple integrated sensors such as cameras, global positioning system receiver and others.

According to Intelligence Node, the number of smartphone users in United States crossed 260 million in April 2020, and smartphone shipments reached $161 million in 2019. In many countries such as UAE, United States and others the consumers are increasingly concerned about long term growth in personnel wealth. This factor is resulting in low density living and increasing volume of households which is thereby leading to the demand for consumer electronics as the consumers are using smart phones, television, personal computers. Furthermore, companies such as Microsoft, Samsung and other have been investing heavily in the form of acquisitions, expansion and R&D for advancements of consumer electronics in this countries such as Mexico and U.S.

Growth of the Automotive Industry

In Argentina, several Automotive giants are looking to expand their business in the country. For instance, General Motors Co and its suppliers will invest a total of $500 million in Argentina operations through 2019 to prepare for the production of autonomous vehicles with advanced specifications by 2020. Fiat Chrysler plans to invest $500 million in Argentina plant for the production of advanced vehicles. The magnetic sensors have many applications in the automotive industry for instance they offer wear free measurement of mechanical quantities such as angle of rotation and angular speed.

In 2019, Ford invested more than $170 million to expand its presence in Africa. The luxurious lifestyle of people have also contributed towards the growth of the market as there is upsurge in demand for luxurious vehicles by the people. In 2018, Toyota Tsusho Corporation announced that it has invested in Taiwan based industrial manufacturer FUKUTA ELEC. & MACH. CO., LTD. by acquiring a stake in the company through Toyota Tsusho (Taiwan) Co., Ltd. Such acquisitions will boost the MEMS Magnetic Sensor demand.

Magnetic Sensor Shipments Market Challenges

Increase in manufacturing capabilities of the magnetic sensors

The Magnetic Sensor Shipment are used in numerous applications such as robotics, automobile industry, magnetic recording industry owing to which they have gained stupendous significance. This have increased the shipment of the magnetic sensors along with the rising number of sensor manufacturers. The result of R&D activities of several companies have brought sensors such as speed, position and angle (sensors) in the market. As a result of increased competition among the manufacturers the overall cost of production of these magnetic sensors have reduced along with the increase in the manufacturing capabilities. These factors are causing a major restrain to the market.

Magnetic Sensor Shipments Market Landscape

Magnetic Sensor Shipment Market is dominated by major companies such as Asahi Kasei Corporation, TDK Corporation, Infineon Technologies AG, Melexis, Allegro MicroSystems LLC, Allegro Microsystems, Micronas Semiconductors, Bosch Sensortec, Denso Corporation, TE Connectivity among others.

Acquisitions/Technology Launches

In November, 2019, Allegro MicroSystems launched its first gear tooth sensor IC “ATS17501” used in electric vehicle traction motors operating upto 30K RPM to provide incremental position.

In September, 2019, Infineon Technologies AG launched its first magnetic sensor “XENSIV TLE5501”. This sensor is based on tunnel magnetoresistance technology along with four magnetic technologies GMR, AMR, Hall and TMR. This sensors are used in automotive applications as it has only one single sensor chip with a high functional safety grade ASIL D.

Key Takeaways

The upsurge in usage for smartphones, Automotive sector, Robotics, Energy and Utilities are driving the growth of the market as the Hall Effect and 3D magnetic sensors are widely used in these industrial sectors due to which the shipments have increased.

The Automotive sector is dominating the market owing to the growth of in demand of luxurious vehicles due to which manufacturing of automobiles have increased and magnetic sensors are used in this sector to provide position, speed and angle.

In APAC, rise in demand of smartphones, advanced automobiles, display systems, gaming industry and healthcare sectors have driven the growth of the market.

Related Reports

A. Hall Effect Sensor Market

B. MEMS Magnetic Field Sensors Market

For more Electronics Market reports, please click here

About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to to discuss more about our consulting services.

Media Contact
Company Name: IndustryARC
Contact Person: Mr. Venkat Reddy
Email: Send Email
Phone: (+1) 970-236-3677
City: Hyderabad
Country: India