Stratview Research published a new report on the On-Board Magnetic Sensor Market that offers detailed segmentation of the market based on Type (Hall Effect Sensors, Magnetoresistive Sensors, SQUID Sensors, Others), By End Use (Automotive, Consumer Electronics, Healthcare, Aerospace Defense, Industrial, Others), and Region.
According to the report, The Global On-Board Magnetic Sensor Market is estimated to grow from USD 1.66 billion in 2021 to USD 2.96 billion by 2028 at a healthy CAGR of 8.54% during the forecast period of 2022-2028.
The present report can be of high utility for the key decision-makers and growth strategists in terms of precise market insights, forthcoming growth opportunities, and key success factors. Especially, the report also analyses and mentions the possible impact of COVID-19 on the market dynamics. This will not only help in mitigating the uncertain business environment, but also help in rearranging the strategies and future- decisions in a fruitful manner.
Covid Impact –
The Corona Virus Pandemic has caused significant losses in nearly every industry all over the world. The pandemic has had a rapid impact on the global economy, affecting the market's manufacturing, demand, and distribution network. The On-Board Magnetic Sensor Market has also been influenced by the unprecedented COVID-19 outbreak. The market analysts have thoroughly examined the market and gathered insightful data related to covid impact such as before and after market size, regional impact, financial losses, organic and inorganic growth factors, etc.
Leading players in the market -
To build a successful business, it is vital to understanding the market - both the customers and the competitors. The report published consists of a list of key players active in the On-Board Magnetic Sensor Market, is given below -
- Asahi Kasei Microdevices Corporation (Japan)
- Austria Mikro Systeme (Austria)
- HONEYWELL INTERNATIONAL INC. (US)
- Infineon Technologies AG (Germany)
- Kohshin Electric (Japan)
- Melexis NV (Belgium)
- Murata Manufacturing Co., Ltd. (Japan)
- Sensitec GmbH (Germany)
- TE Connectivity (Switzerland)
- Austria Mikro Systeme (AMS) AG (Austria)
Report Findings
Based on type, the on-board magnetic sensor market has been classified into Hall Effect sensors, magnetoresistive sensors, squid sensors, and others. The magnetoresistive segment accounted for a significant market share in 2020. These sensors exhibit a wide operating range and possess features functionalities such as low power, inherently low hysteresis, and high linearity for improved measurement accuracy compared to Hall Effect sensors.
By region, the North American On-Board Magnetic Sensor market held a significant share in 2020 and is expected to grow at a significant CAGR during the review period. The on-board magnetic sensor market growth is mainly propelled by increasing penetration of smartphones, tablets, and laptops, which will increase the adoption of the on-board magnetic sensor. Also, increasing consumer spending as well expanding electronic sector further boosts the regional market growth.
The Asia-Pacific On-Board Magnetic Sensor market is expected to grow at a healthy CAGR during the review period. The regional growth is ascribed to surging demand for consumer electronic devices such as smartphones, laptops, and cameras in China, India, and Southeast Asian countries. The implementation of a wide range of sensors even in budget smartphones and the growing demand for fitness bands.
FAQs in the report -
The research report aims to help the users learn about their market size and potential to connect with customers. This report answers to the following questions:
- How big is the potential On-Board Magnetic Sensor Market?
- Will this market grow or shrink in the future?
- Who are our top competitors or key players?
- What market share do the competitors own?
- How Covid19 has affected the market?
- How long will it take to recover from the Covid-impact?
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