Global Non-Optical Magnetometer Market - Forecasts from 2022 to 2027

The global non-optical magnetometer market was evaluated at US$1.992 billion in 2020 and is expected to grow at a CAGR of 8.41% to reach a market size of US$3.506 billion by the year 2027. A magnetometer is a magnetic sensor used to measure magnetism. The strength of the magnetic field of certain components and devices can be efficiently measured with the help of a magnetometer. A magnetometer is also employed for finding the direction of the magnetic field. A non-optical magnetometer is efficiently used in certain electronic devices and components for navigation and mapping. The penetration of electronics into various fields is giving potential to the market growth of the non-optical magnetometer market. A magnetometer is a device widely used in automobiles and the aeronautical department. The ability of a magnetometer to record magnetic strength and find direction is efficiently utilized in automotive and aeronautical fields. Increasing usage of smartphones is one of the factors driving the market growth of non-optical magnetometers. The wide application of magnetometers in mineral mining and usage in defense systems like submarines and aircraft are tremendously hiking the demand for non-optical magnetometers in the global market. A magnetometer is widely employed in electronic devices. The application of magnetometers in deep mineral and metal mining is also hiking the market of the magnetometer. The mapping and navigation techniques employed in aircraft and submarines are specifically focused on the functioning of the magnetometer. The magnetometer is also widely employed in spacecraft and aerospace industries.

The recent outbreak of the COVID pandemic has adversely affected the market growth of non-optical magnetometers. Magnetometers are widely employed in electronic devices. Increased smartphone usage is pushing the growth limits of the non-optical magnetometer market. The lockdowns and isolations imposed by governments of various countries in order to stop the COVID spread have resulted in the decline of the magnetometer market to a certain extent. The lockdowns imposed by the government resulted in the shutdown of manufacturing units and production plants of electronic devices. The less production of electronic devices also resulted in the downfall in demand for the non-optical magnetometer. The shutdown of activities in automobile production also caused the downfall of non-optical magnetometers in the global market. The blockages and stoppage of the supply chain sector of electronic devices reduced the export and import of electronic devices and electronic commodities. The negative impact made by the COVID pandemic on certain sectors, electronics, automobiles, etc., resulted in the declination of the global non-optical magnetometer market.

Rising number of smartphones and electronic devices

The rising usage of smartphones and electronic devices is boosting the market growth of non-optical magnetometers. Magnetometers are widely employed in smartphones. Magnetometers employed in smartphones help for navigation and mapping. According to data from the Federal Communications Commission (FCC), the rate of usage of smartphones are tremendously increased in the last ten years. NTIA (National Telecommunication and Information Administration) states that, in the United States, people spend an average of approximately about 5 to 6 hours on smartphones. The rising usage rate of smartphones is also accounting for the increasing demand for non-optical magnetometers in the global market. Magnetometers are employed in smartphones to detect the direction and navigate the location of smartphones in space. The GPS system introduced in smartphones assists in the mapping and navigation of locations. The demand and market for non-optical magnetometers are also rising hand in hand with the increasing production and usage of navigation devices and smartphones.

Application of non-optical magnetometer in defense and aeronautical industry

The magnetometer is widely used in the defense and aeronautical industries. The aeronautical industry uses the support of magnetometers in navigation systems of aircraft and fighter jets. The magnetometer can be efficiently used in flying spaces for navigation and mapping of places. The identification of direction by a magnetometer relies on detecting magnetic poles of the Earth using the magnetic property of the magnetometer. Geographical mapping of locations without network coverage and a proper communication system can also be navigated with the support of a magnetometer. The presence of other electronic devices and components can also be identified by detecting the magnetic strength of the magnetic field emitted by foreign devices. The wide applications of magnetometers in the defense section are pushing the market growth of the non-optical magnetometer market. Magnetometers are efficiently employed in submarines. The navigation and location analysis underwater is efficiently performed with the support of magnetometer devices. Tracking and detection of underground blocks and others are also detected with the usage of the magnetometer.

Scope of non-optical magnetometer in mineral mining

A magnetometer is employed in the mining process of mineral and iron ores. A magnetometer is employed to detect and locate the position of iron and metal ores underground. The proper mapping of mineral ores can be efficiently tracked using a magnetometer in mining processes. The mining industry is one of the industries showing drastic growth in the industrial sector. The growth of the mining sector is also driving the market growth of non-optical magnetometers.

Segmentation:

• By Type

Absolute Magnetometer

Relative Magnetometer

• By Application

Automotive

Manufacturing

Consumer Electronics

Communication

• By Geography

North America

• USA
• Canada
• Mexico

South America

• Brazil
• Argentina
• Others

Europe

• Germany
• France
• UK
• Others

Middle East and Africa

• Saudi Arabia
• UAE
• Others

Asia Pacific

• China
• India
• Japan
• South Korea
• Taiwan
• Thailand
• Indonesia
• Others