Albany, NY -- (SBWIRE) -- 05/26/2015 -- Magnetic field sensors are used to detect position of any object based on magnetic field. For instance, movements of gear wheels inside gearbox create alteration in magnetic field helping the sensors to indentify location of position of objects. This collected information is further sent to integrated electronics to evaluate the condition of the respective objects or vehicle. Magnetic field sensors are of non-contact type and use digital or analog signals for data transmission based on their type. With the development of technology magnetic field sensors are being used in various applications across the industry verticals. Demand for high sensing performance and better efficiency is driving the adoption of magnetic field sensors in various applications. Automotive, homeland security, healthcare, electronics industry and defense are some industry where wide application of magnetic field sensors is observed. Automotive sector is currently the biggest segment in terms of revenue for magnetic field sensors market. High demand for magnetic field sensors from automobile manufacturing sector and growing demand and popularity of computer peripherals are leading to increased demand for magnetic field sensors.

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Usage and popularity of electronic compass in electronic devices such as smartphones and tablets is driving the demand for magnetic field sensors in electronic segment. The navigation feature in smartphones and high end electronic gadgets uses magnetic field sensors. Continuous technological developments are leading to higher adoption of Hall Effect components and sensors. Along with it, varying strength of magnetic field and other technical limitations are some of the factors restraining the growth of this market. The average selling prices of magnetic sensors and components are falling gradually and strong influence of already existing big firms in this market is leading to significant challenges for the new entrants. In the coming years, use of magnetic sensors is expected to increase in hybrid electric vehicles and medical industry. Highly sensitive magnetic sensors can be used in healthcare applications making it as a potential opportunity for the players in this market.

Global magnetic field sensors market is segmented on the basis of technology, type, application and geography. On the basis of technology the market is segmented into bias magnetic field sensor technology, low field sensor technology and earth field sensor technology. On the basis of type the magnetic field sensors market is segmented into three major segments namely Hall Effect sensors, squid sensors and magneto-resistive sensors. Hall Effect sensors segment include hall integrated circuits (ICs) and hall elements. Magneto-resistive sensors segment is further sub segmented into giant magneto-resistance (GMR) sensors, anisotropic magneto-resistance (AMR) sensors and tunneling magneto-resistive (TMR) sensors. MEMS based magnetic field sensors are type of sensors which offer solutions for small field magnetic sensing Magnetic field sensors have wide applications in numerous industries, such as medical sector, automotive industry, consumer electronics sector, industrial and infrastructure industry and aerospace and defense industry, among others.

Melexix NV, NXP Semiconductors N.V, Honeywell International, Allegro Microsystems Inc., Micronas Semiconductor Holdings AG, Memsic Inc., Asahi Kasei Micro Devices Corporation, AMS AG, Robert Bosch GMBH and Infineon Technologies AG, among others are some of the key players in global magnetic sensors market.

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