seobhushan (58)

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Magnetic Sensor Market is projected to reach CAGR
8 by 2027
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Key Insights from Magnetic Sensor Market

• The global magnetic sensor market has recorded
  year-on-year growth supported by increasing use
  of Unmanned Aerial Vehicles (UAVs) and
  surveillance drones in military application due
  to rising political tensions and terrorist
  attacks.
• As per a report by the U.S. Federal Aviation
  Administration, as of March21, the country has
  nearly 1.1 million drones currently operational.
  These drones are equipped with magnetic sensors
  that help control the speed of the flight and
  help achieve uniformity of rotation in brushless
  DC motors and propellers.
• Inclination towards robotics and industrial
  automation in the manufacturing and processing
  sectors will drive market growth. These sensors
  are largely combined into automated assembly
  lines, collaborative robots for position,
  conveyor systems, and speed sensing applications.

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Regional Insights in Magnetic Sensor Market

• Regionally, Europe has emerged as a profitable
  revenue pocket over time due to the presence of
  many automobile OEMs in the region including
  Audi, BMW, Daimler AG, PSA Group, and others,
  that are primarily focusing on the development of
  advanced automobile safety technology like ADAS
  and self-driving cars.
• Moreover, the region is witnessing an increase in
  the adoption of electric vehicles. As per the
  International Energy Agency, Europe accounted for
  approximately 1.4 million new electric vehicle
  registrations in the year 2020, which was
  responsible for 46.6 of the total EV
  registration globally.
• Magnetic sensors are highly combined into battery
  management technology and onboard chargers of
  EVs, adding regional market opportunities. Firms
  that operate in the magnetic sensor industry are
  focusing on introducing new product launches to
  remain competitive in the industry.

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5
Major Companies in Magnetic Sensor Market

• Asahi Kasei Microdevices Corporation
• TE Connectivity
• Diodes Incorporated
• ams AG
• Melexis
• Honeywell International Inc.
• Infineon Technologies AG

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Industry Coverage

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