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Automotive Industry to Generate Highest Demand for Magnetic Field Sensors Through 2021

  • Date Submitted: 10/26/2015 11:00 PM
  • Flesch-Kincaid Score: 27.1 
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According to a new magnetic field sensors market report published by Transparency Market Research “Magnetic Field Sensors Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2021” was valued at US$2.0 bn in 2014 and is expected to reach US$3.5 bn by 2021, growing at a CAGR of 8.3% during forecast period.

Browse the full Magnetic Field Sensors Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021 report at http://www.transparencymarketresearch.com/magnetic-field-sensors-market.html



Magnetic field sensors are being increasingly used for the measurement of various parameters such as motion, proximity positioning of objects and individuals across different industries. In terms of cost, size and robustness, these sensors have shown substantial growth over the years when compared over its competitive technologies such as reed switches, micro switches and potentiometers. Increasing demand for these sensors in the automotive and consumer electronic sectors coupled with rapid technological advancements of magnetic field sensors are the key drivers of the market.

magnetic-field-sensors-market

Increasing popularity of e-compasses, owing to their ability to enhance the user navigation experience is also boosting the market growth. In addition, increasing demand for these sensors, on the account of energy efficiency initiatives on a global level is set to bolster the growth of the overall market. These factors in total are expected to impact the growth of magnetic field sensors market positively during the forecast period from 2015 to 2021.

By technology, the market has been segmented into three segments, bias field sensor, earth field sensor and low field sensor technology. Bias magnetic field sensor occupied the largest share of the market in 2014. The magnetic field sensors based on this technology offer higher sensitivity, better temperature stability and lower power consumption as...

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