Magnetic Sensors Market, By Technology (Hall Effect, Anisotropic Magneto Resistance (AMR), Giant Magneto Resistance (GMR), Tunneling Magneto Resistance (TMR), and Other Technologies), By Application (Automotive, Consumer Electronics, Industrial (apart from Automotive), and Other Applications), By Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America)- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
Using a magnetometer to measure the strength or direction of a magnetic field is a basic principle in almost all fields of technology. From weapons search to biomedical applications, the measurement of changes in the vicinity of magnetic sensors is a critical part of today's technology. Magnetic sensors are of different types. The most common magnetic sensors are solid-state Hall Effect sensors. These devices detect the magnetic flux perpendicular to the surface of the chip and produce an electrical signal proportional to the strength of the applied magnetic field. In some applications with large magnetic field strength, Hall Effect sensors are used instead of traditional coils.
Market Dynamics:
The increasing use of magnetic sensors for position sensing applications in consumer electronics. Moreover, the increasing use of magnetic sensors for safety applications in the automotive sector is expected to drive the magnetic sensor market. Moreover, the growing demand for hybrid vehicles and passenger vehicles is expected to drive the market.
Factors such as electronics industry influenced by the Covid-19 outbreak and decline in average selling price of semiconductors and sensors are expected to hinder growth of the global magnetic sensors market over the forecast period.
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