Williamstown, MA -- (SBWIRE) -- 01/23/2012 -- Global Magnetic Field Sensors Market (2011 - 2016)
Magnetic field sensors are expected to show good growth as they are widely used across different application segments. Early applications for these sensors were essentially direction finding, or navigation. Today, these sensors are still a primary means of navigation but many more uses have evolved.
Automobile industry is a heavy user of magnetic field sensors; accounting for almost 40% of the total magnetic field sensors market. One of the largest applications for magnetic field sensors in automobiles is in anti-lock braking systems (ABS) and engine control management systems. Traditionally, the combined consumer and computing segments form the largest user base for magnetic field sensors. Typical applications include cameras, DVD players, hard disk drives, video-cassette players, printers, cell phones, and washing machines. The other verticals such as healthcare and defense are also contributing to the overall demand.
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Besides, the increasing use of these sensors in other applications; especially mobile handsets will boost sales. Magnetic field sensors are being used as compass in handhelds and give increased sophistication to GPS solutions. Electronic compass is expected to give a much higher thrust; with the volume of sales set to treble form its level in 2010.
Developed markets such U.S., U.K., Japan/Korea are amongst the most technologically advanced consumer electronics as well as automotive markets due to the presence of prominent system suppliers, large semiconductor companies, and sensor manufacturers. The size of the region, the affluence of its consumers, and the competitiveness make it a good market for magnetic sensor manufacturer. Most of the innovations in electronics design and technology are deployed in these regions first; and then in rest of the world.
Hall Effect sensors dominate the magnetic field sensors market with more than 70% market share, while newer technologies such as AMR and GMR sensors are gradually gaining visibility. The main suppliers of Hall Effect sensors are Allegro, Micronas, Melexis, Austria Microsystems, and AKM. The major vendors of AMR sensors are NXP, Sensitec, and Honeywell, while the main GMR sensors suppliers are NVE Corporation, and Hitachi.
The demand for magnetic field sensors in the year 2010 was 3.67 billion units; which are expected to reach 7.14 billion units in 2016 at a CAGR of 10.3%. In value terms, the magnetic field sensors market stood at $1.1 billion in year 2010 and is expected to reach $2.0 billion by year 2016, at 8.7% CAGR during the projected period.
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