PUBLISHER: Roots Analysis | PRODUCT CODE: 1869566
PUBLISHER: Roots Analysis | PRODUCT CODE: 1869566
As per Roots Analysis, the global magnetic sensor market size is estimated to grow from USD 5.42 billion in the current year USD 12.48 billion by 2035, at a CAGR of 7.87% during the forecast period, till 2035.

The opportunity for magnetic sensor market has been distributed across the following segments:
Type of Sensor
Type of Range
Areas of Application
Type of End User
Company Size
Type of Business Model
Geographical Regions
Magnetic Sensor Market: Growth and Trends
Magnetic sensors are devices designed to measure the levels of magnetism and geomagnetism generated by magnets or electrical currents. There are various types of magnetic sensors available, each with distinct characteristics. For example, coils represent the simplest type of magnetic sensor, capable of detecting variations in magnetic flux density. Moreover, these sensors are employed in a wide range of applications, such as automobiles, smartphones, refrigerators, and more. In the automotive sector, sensors help determine the distance between vehicles, enabling appropriate speed adjustments.
The rapid expansion of the automotive industry and the increasing adoption of consumer electronics are significant factors driving market growth during the projected period. In addition, investments in industrial automation and the rise of Internet of Things (IoT) sensors are also boosting the demand for magnetic sensors. The trend toward miniaturization in consumer electronics further enhances market development, as there is a high demand for compact sensors that offer better performance capabilities. Furthermore, magnetic sensors are essential in the automation and robotics fields, as they deliver accurate positioning and speed detection functions. As a result, owing to the abovementioned factors, the magnetic sensors market is expected to grow significantly during the forecast period.
Magnetic Sensor Market: Key Segments
Based on type of sensor, the global magnetic sensor market is segmented into anisotropic magneto resistance (AMR), fluxgate sensor, giant magneto resistance (GMR), Hall effect, and squid sensor. According to our estimates, currently, the hall effect segment captures the majority of the market share. This is due to the affordability of these sensors, their ease of integration, and their resistance to interference from complex biomedical samples. These sensors are primarily utilized to track mechanical system variables such as proximity, speed, and displacement.
Conversely, the anisotropic magneto resistance (AMR) segment is expected to grow at a higher CAGR during the forecast period, driven by the rising demand for consumer electronics and smart devices.
Based on type of range, the global magnetic sensor market is segmented into <1 microgauss, 1 microgauss- 10 gauss, >10 gauss, and ultra-low range sensors. According to our estimates, currently, 1 microgauss - 10 gauss segment captures the majority of the market share. This is due to its extensive application across various industries with standard magnetic field measurements. These industries encompass automotive, consumer electronics, and industrial sectors.
Conversely, the ultra-low range sensors is expected to grow at a higher CAGR during the forecast period, driven by the rising demand for ultra-sensitive sensors that provide precise measurements.
Based on areas of application, the global magnetic sensor market is segmented into detection / non-destructive testing (NDT), electronic compass, navigation, position sensing, speed sensing, and others. According to our estimates, currently, the speed-sensing segment captures the majority of the market share. This trend can be linked to the increasing demand for magnetic sensors in industries that monitor vehicular speed, particularly in the automotive sector. These sensors play a crucial role in enhancing safety features such as anti-lock braking systems, as well as improving overall vehicle performance.
However, the detection/non-destructive testing segment is expected to grow at a higher CAGR during the forecast period. This growth is primarily fueled by the necessity for structural integrity monitoring and fault detection within the industrial sector.
Based on type of end user, the global magnetic sensor market is segmented into aerospace & defense, automotive, consumer electronics, energy & power, healthcare, and industrial. According to our estimates, currently, the automotive segment captures the majority of the market share. This trend is driven by the growing demand for electric vehicles and the swift transition of traditional cars to electric models.
Based on company size, the global magnetic sensor market is segmented into large and small and medium enterprise. According to our estimates, currently, the large enterprise segment captures the majority of the market share. On the other hand, the small and medium enterprise segment is projected to experience the fastest growth rate during the forecast. This growth can be attributed to their flexibility, innovation, focus on specialized markets, and capacity to respond to evolving customer preferences and market dynamics.
Based on geographical regions, the magnetic sensor market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and the rest of the world. According to our estimates, currently Asia Pacific captures the majority share of the market, attributed to its swift industrial development and technological progress. Additionally, it is anticipated to propel the market with a higher CAGR throughout this forecast period, owing to the growing demand for immersive technologies in developing nations.
Magnetic Sensor Market: Research Coverage
The report on the magnetic sensor market features insights on various sections, including:
Key Questions Answered in this Report
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