Silicon Magnetic Sensors Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023
Albany, NY -- (SBWIRE) -- 02/17/2017 -- Silicon magnetic sensors are mostly used for security purposes. These sensors are often regarded as switches or contacts. A magnetic sensor is made up of two pieces that forms a circuit. On separating these two pieces a signal is sent from the device. Usually magnetic sensors are placed on windows, doors or other access point from where they are invisible to others. Owing to the advantages associated with silicon magnetic sensor, it is used extensively in automotive, global positioning system, biomedical, satellite system and nanotechnology. The global silicon magnetic sensor market can be segmented on the basis of application, type, technology and geography. By application the silicon magnetic sensor market can be segmented into automotive, consumer electronics, industrial, medical, defense and others. Based on type, the silicon magnetic sensor market can be bifurcated into magneto resistive, Hall Effect, SQUID and others. Based on technology the market can be divided into low field sensor technology, earth and bias magnetic field sensor technology field sensor technology.
Increase in the number of automotive industries coupled with growing demand from the automotive industries for security purpose have boosted the growth of silicon magnetic sensor market globally. Silicon magnetic sensor can be used for several other purposes in automotive, such as seed, linear angle and position measurements. In addition, increasing demand of smart mobile devices is also expected to drive the global silicon magnetic sensor market. Currently, navigation is very much essential for mobile devices for which silicon magnetic sensor are used extensively. This in turn is accelerating the growth of silicon magnetic sensor market. Moreover, increasing popularity of electronic compasses, high demand from gaming console and enormous use of magnetic sensor in computing peripherals is also expected to drive the demand of silicon magnetic sensor market in recent years.
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However, existing competition among the major industry players in one of the major restraining factors for the growth of global silicon magnetic sensor market. Consumers demand for low cost silicon magnetic sensors, thus increasing competition among key industry players. In addition, inconsistency in magnetic field, alternative technology entering into the market, temperature fluctuations and unavailability of aftermarket are also limiting industries to switch to silicon magnetic sensor market. In spite of these restraining factors the global silicon magnetic sensor market is expected to grow in the coming years owing to the advantages associated with it.
In 2014, among the different type of application, automotive held the largest share. In automotive sector silicon magnetic sensor is used mostly in Antilock Breaking System (ABS). Moreover in automotive silicon magnetic sensor is used in engine control management system. The automotive segment is followed by consumer electronics segment.
Among all the regions analyzed, Asia Pacific region held the largest share in the silicon magnetic sensor market. Supportive government policies, high demand for smart phones, automotives and existence of key industry players are boosting the market of silicon magnetic sensor in this region. North America is also expected to show a stable growth for silicon magnetic sensor market owing to revised government policy and magnetic sensor business expansion in this region. The Europe is the mature market for silicon magnetic sensor as the penetration level of the magnetic senor market is at the highest point in this region.
Some of the major players of silicon magnetic sensor market are Infineon, Robert Bosch GmbH, Allegro MicroSystems Inc., NXP Semiconductors and Austria microsystems AG.