Magnetic Sensor Market (Updated Version Available)

Magnetic Sensor Market Size, Share & Trends Analysis, By Type (Hall Effect Sensors, SQUID Sensors, Magnetoresistance Sensors (Anisotropic Magnetoresistor (AMR), Giant Magnetoresistor (GMR), Tunneling Magnetoresistor (TMR), Induction Coil sensor, Fluxgate Sensors, Others), Application (Speed Sensing, Detection/Non-Destructive Testing (NDT), Position Sensing, Navigation and Electronic Compass, Flow Rate Sensing, Others), End Use (Transportation, Healthcare, Consumer Goods, Industrial, Aerospace & Defense, BFSI, Others), By Region and Segment, Forecast Period 2023 - 2030

Report ID : RI_673803 | Date : March 2023 | Format : ms word ms Excel PPT PDF

This Report Includes The Most Up-To-Date Market Figures, Statistics & Data
Key Market Overview:

Magnetic sensor market size was worth over USD 4.3 Billion in 2022 and is estimated to reach over USD 7.5 Billion by 2030, growing at a CAGR of 7.2% during the forecast period (2023-2030).

Magnetic sensors are devices that are used to measure magnetic fields and detect the presence, strength, and direction of a magnetic field. The sensors convert magnetic field information into an electrical signal that is used to detect the presence of a magnetic field or to measure the strength or direction of the field. Several types of magnetic sensors include Hall Effect sensors, magnetoresistive sensors, and fluxgate sensors. Each type of sensor operates on a different principle and has different strengths and weaknesses.

Furthermore, magnetic sensors have a wide range of applications such as navigation systems, robotics, automotive systems, and medical devices. The sensors are typically used along with other sensors, such as accelerometers and gyroscopes, to provide a complete overview of a specific object\'s orientation and movement in space. Such magnetic sensors are increasingly being integrated with other components and systems such as microcontrollers, signal processing circuits, and wireless communication modules to form complete sensing solutions.

Overall, magnetic sensors are expected to sustainably evolve due to advancements in materials science, electronics, and computing. Thus, magnetic sensors are anticipated to play an important role in various industries and applications due to increased demand for more precise and reliable sensing solutions.

Magnetic Sensor Report Coverage: 

Report AttributesReport Details
Study Timeline2017-2030
Market Size in 2030 (USD Billion)7.5 Billion
CAGR (2022-2030)7.2 %
Base Year2022
By TypeHall Effect Sensors, SQUID Sensors, Magnetoresistance Sensors (Anisotropic Magnetoresistor (AMR), Giant Magnetoresistor (GMR), Tunneling Magnetoresistor (TMR), Induction Coil sensor, Fluxgate Sensors, Others
By ApplicationSpeed Sensing, Detection/Non-Destructive Testing (NDT), Position Sensing, Navigation and Electronic Compass, Flow Rate Sensing, Others
By End UseTransportation, Healthcare, Consumer Goods, Industrial, Aerospace & Defense, BFSI, Others
By Geography
  • Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]

  • Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey]

  • North America [United States, Canada, Mexico]

  • Middle East & Africa [GCC, North Africa, South Africa]

  • South America [Brazil, Argentina, Columbia, Chile, Peru]
  • Key PlayersInfineon Technologies AG, Honeywell International Inc., Texas Instruments, NXP Semiconductors, ST Microelectronics, TDK Corporation, Robert Bosch GmbH, Allegro Microsystems, Inc., Alps Electric Co., Ltd, Asahi Kasei Microdevices Corporation, ams-OSRAM AG, Baumer Ltd., Crocus Technology, Elmos Semiconductor AG, Rotary and Linear Motion Sensor (RLS), Sensitec GmbH

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    Market Dynamics:


    The growing adoption of consumer electronics devices such as smartphones, laptops, and tablets boosts the demand for magnetic sensors in terms of compass sensing, rotation sensing, and position sensing. Magnetic sensors are being used in new applications, such as in self-driving cars for navigation and obstacle detection, and medical devices for imaging and diagnosis. Further, large-scale usage of magnetic sensors in various industrial automation applications such as robotics, material handling, and conveyor systems due to the favorable adoption of automation in various industries also accelerates the growth of market statistics.


    The high costs of magnetic sensors as compared to other types of sensors restrict the large-scale adoption of such sensors, especially in price-sensitive markets. Furthermore, such magnetic sensors are sensitive to various environmental factors such as temperature, humidity, and electromagnetic interference (EMI) that mainly restrict wide usage in certain industrial applications. Also, the limited availability of rare-earth metals such as Co- and Fe-based alloys, nanocrystalline Finemet alloys, FeNi permalloys, and various other soft magnetic materials used in the manufacturing of magnetic sensors also hampers the magnetic sensor market growth.

    Magnetic Sensor Market Segmentation:

    By Type

    The type segment is separated into hall-effect sensors, SQUID sensors, magnetoresistance sensors, induction coil sensors, fluxgate sensors, and others. The hall-effect sensors segment contributed the largest shares to the market growth in 2022. The high demand for hall-effect sensors, especially in automotive applications, for detection of the position of the crankshaft or camshaft supports the segmental growth to determine the position of rotating parts or linear motion. Moreover, the magnetoresistance sensors segment is anticipated to contribute substantial shares to the market growth during the forecast period. The large-scale usage of magnetoresistance sensors in security systems as door and window sensors in automotive applications is expected to fuel the segmental growth for detecting the proximity of other vehicles or objects.

    By Application

    The application segment is divided into speed sensing, detection/non-destructive testing (NDT), position sensing, navigation and electronic compass, flow rate sensing, and others. The speed sensing segment is estimated to register the fastest CAGR growth during the forecast period. Increased demand for information related to the speed and distance traveled by vehicles is estimated to fuel the usage of magnetic sensors in the anti-lock braking system (ABS), traction control system (TCS), and other safety features. Further, the position sensing segment is estimated to contribute substantial shares to the market growth during the forecast period. Such sensors offer the ability to detect changes in magnetic fields parallel to the sensor surface which is anticipated to support segmental growth in a variety of applications including sensing the position of a rotating shaft and the position of a linear actuator in many systems that ranges from automotive and aerospace to industrial automation and robotics.

    By end use:

    The end-user segment comprises transportation, healthcare, consumer goods, industrial, aerospace & defense, BFSI, and others. The transportation segment accounted for the largest share contribution to the magnetic sensor market statistics in 2022. The large-scale demand for speed and position sensing in various automotive systems such as wheel speed sensors, throttle position sensors, and crankshaft position sensors boosts the segmental demand for detecting the position and movement of magnetic objects especially gears, rotors, and magnets in terms of providing accurate feedback to the vehicles control system. Also, increased usage of magnetic sensors in the suspension system of the majority of vehicles largely supports the demand for such sensors to measure the distance between the vehicle body and the wheels in terms of making adjustments in the damping and ride height of the vehicle for optimal handling and comfort.

    By Region

    The regional segment comprises North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Asia Pacific is estimated to contribute substantial shares in terms of revenue to the market growth during the forecast period. The growing adoption of automobiles and consumer goods among the population is estimated to propel the demand for magnetic sensors in terms of speed and position sensing, steering angle sensing, and anti-lock braking systems along with compasses, proximity sensors, and gesture recognition. Moreover, the strong presence of semiconductor and electronics manufacturers also accelerates innovation and contributions to the growth of the magnetic sensors market.

    Further, North America and Europe are also estimated to support the market growth in terms of value and volume. The large presence of established market players such as Honeywell International Inc., NXP Semiconductors N.V., and Allegro Microsystems LLC in these regions is projected to boost the market statistics in these regions.

    Magnetic Sensor Market Competitive Landscape:

    The market players operating in the magnetic sensor market offer a variety of magnetic sensor technologies such as Hall-effect sensors, anisotropic magnetoresistive (AMR) sensors, giant magnetoresistive (GMR) sensors, and fluxgate sensors. The businesses cater to a wide range of applications in industries such as automotive, industrial, consumer electronics, aerospace and defense, and healthcare. Several factors such as mergers and acquisitions, business strategies, and product innovations are analyzed to help manufacturers strengthen their market position. Listed are the market players that currently function in the market circumstances–

    • Infineon Technologies AG
    • Honeywell International Inc.
    • Texas Instruments
    • NXP Semiconductors
    • ST Microelectronics
    • TDK Corporation
    • Robert Bosch GmbH
    • Elmos Semiconductor AG
    • Allegro Microsystems, Inc.
    • Baumer Ltd.
    • Alps Electric Co., Ltd
    • Asahi Kasei Microdevices Corporation
    • ams-OSRAM AG
    • Crocus Technology
    • Rotary and Linear Motion Sensor (RLS)
    • Sensitec GmbH

    Recent Developments

    • In July 2020, Infineon Technologies AG expanded the XENSIV 3D magnetic sensor family TLv493D with the introduction of the TLI493D-W2BW. The new sensor uses the latest 3D Hall generation from Infineon and is housed in an extremely small (1.13 mm x 0.93 mm x 0.59 mm) wafer-level (WLB-5) package.

    • In April 2022, TDK Corporation extended the range of Micronas Hall-effect sensors with the introduction of the CUR 4000 sensor. The newly developed sensor is designed for precise current measurements in both automotive and industrial applications which also provides non-intrusive, galvanic isolation for contactless current sensing.

    • In November 2022, Allegro MicroSystems, Inc., a company renowned for power solutions and sensing technology in motion control along with energy-efficient systems, introduced the A31316 3D Hall-effect position sensor. The new sensor is the latest offering in the business\'s range of 3D sensors called 3DMAG™.
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