Market Highlights

According to Market Research Future, the market for on-board magnetic sensor is segmented on the basis of type, magnetic density, application, vertical, and region.

Some of the prominent trends that the market is witnessing include the adoption of on-board magnetic sensors for IoT connected devices and the increasing demand for on-board magnetic sensors in hybrid and electric vehicles. Also, rapid developments in magnetic sensors are supporting their adoption in the growing automotive and IoT industries. Moreover, advances in vehicle technology, increasing electrification, and growing demand for smart consumer electronics are some of the major factors that are fueling the growth of on-board magnetic sensor industry.

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Key Players

The prominent players in the on-board magnetic sensor industry are Asahi Kasei Microdevices (Japan), Sanken Electric (Allegro Subsidiary) (Japan), Infineon Technologies (Germany), TDK Corporation (Japan), Melexis NV (Belgium), Murata Manufacturing (Japan), Honeywell International (US), TE Connectivity (Switzerland), AMS (Austria), and NXP Semiconductors N.V. (Netherlands) among others.

on-board magnetic sensor industry - Competitive Analysis

The on-board magnetic sensor industry has witnessed the trend of new product development across the world. Many key players have adopted new product development as their chief organic strategy to gain significant market share in the market. Product development accounted for a significant percentage of the total business growth strategy in the years 2016 and 2017.

on-board magnetic sensor industry - Regional analysis

According to the analysis of MRFR, the major applications in the market that are segmented into speed sensing, detection/NDT, position sensing and navigation & electronic compass. Among these, detection/NDT is expected to show the highest CAGR as magnetic sensors are extensively used in NDT. The demand for advanced sensing has increased significantly over the past few years, primarily owing to the influx of sophisticated smartphones. The trend is expected to continue to influence the market positively over the coming years.

on-board magnetic sensor industry – Segmentation

The magneto resistive sensor is expected to be the fastest growing segment during the forecast period. This sensor has a wide operating range and is commonly used to detect magnetic field strength. Also, the cost of magneto resistive sensors is expected to decrease over a period of time, which will boost the market for this sensor in various verticals during the forecast period.

Based on magnetic density, the market is segmented into 10 gauss (bias magnetic field sensors). Among these, >10 gauss segment is expected to dominate the on-board magnetic sensor industry during the forecast period. The >10 gauss magnetic field sensor technology finds applications in the industrial and infrastructure segment in automation equipment, conveyors, packaging equipment, and other applications incorporating motor latches.

On the basis of vertical, the market is segmented into automotive, consumer electronics, healthcare, aerospace & defense, industrial, and others. Among these, the market for industrial segment is expected to grow at the highest CAGR during the forecast period. This growth is attributed to the growing applications of control systems and automation equipment in industries, creating the need for current measurement in applications such as AC-DC converters, overcurrent fault detection, and battery monitoring.

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