Global Magnetoresistive Element Market Size, Share & Industry Trends Analysis Report By Vertical (Consumer Electronics, Automotive, Industrial, Aerospace & Defense, and Others), By Application, By Regional Outlook and Forecast, 2023 - 2030

Global Magnetoresistive Element Market Size, Share & Industry Trends Analysis Report By Vertical (Consumer Electronics, Automotive, Industrial, Aerospace & Defense, and Others), By Application, By Regional Outlook and Forecast, 2023 - 2030


The Global Magnetoresistive Element Market size is expected to reach $3.3 billion by 2030, rising at a market growth of 5.5% CAGR during the forecast period.

North America is the emerging region in magnetoresistive elements due to major regional market players and rising R&D spending in the technology sector. Consequently, North America acquired $556.1 million revenue in the market in 2022. Further expected to support the regional market expansion in the coming years is the growing desire for quicker computation, improved scalability, and lower power consumption. Additionally, Due to its highly developed infrastructure and end-use industries, the United States is one of the main countries responsible for creating demand. The use of drones by the US air force and other military systems, for instance, will raise the need for magnetoresistive elements in the country. Some of the factors impacting the market are the growing prevalence of consumer electronics, augmentation of industrial automation prevalence, and availability of alternate and efficient technologies.

Among the many different forms of technology consumer goods found in households, demand for electronic equipment is particularly high. Businesses emphasize the creation of products that are both high-performing and simple to use in response to the growing demand from customers. There has been a constant rise in demand for magnetoresistive materials due to the widespread use of smartphones, tablets, wearables, and other consumer electronics. Compass sensors, touchscreens, and hard disk drives are just a few of the applications that utilize these components in these gadgets. Therefore, the increasing demand for consumer electronics is propelling the market's growth. Factory automation is largely used in the industrial sector to ensure quick turnaround and precise assembly. Numerous countries, including the US, China, Italy, South Korea, and Germany, have highly automated factories. Since magnetoresistive elements provide benefits required by contemporary production processes, the demand for them is expected to rise over the projection period as more industrial processes move toward automation.

However, alternative detecting technologies, including reed sensors, Hall effect sensors, and giant magnetoresistance (GMR) sensors, compete with magnetoresistive elements in certain applications. Magnetoresistive element adoption is hampered as these substitute technologies provide equivalent or superior performance at a lower cost. The demand is also decreased by the availability of these alternatives and their widespread adoption by industry. Therefore, the broad availability of alternatives can prevent the market from expanding.

Vertical Outlook

On the basis of vertical, the market is classified into consumer electronics, automotive, industrial, aerospace & defense, and healthcare. The automotive segment recorded a significant revenue share in the market in 2022. The automotive sector is being significantly impacted by several megatrends. These include the development of autonomous vehicles and fleets, the utilization of data from car-sharing initiatives, connected vehicles, initiatives for alternate forms of transportation on demand, and of course, the paradigm shift in the automotive industry toward electric vehicles.

Application Outlook

Based on application, the market is characterized into high magnetic field application and low magnetic field application. The high magnetic field application segment garnered the highest revenue share in the market in 2022. Magnetoresistive materials' sensitivity can be considerably increased by strong magnetic fields. Accordingly, they are useful for precise measurements and sensing applications since they can detect even smaller changes in the magnetic field. These elements often react more quickly when exposed to stronger magnetic fields.

Regional Outlook

Region wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment garnered the maximum revenue share in the market in 2022. Over the course of the forecast period, the Asia Pacific market is anticipated to grow rapidly. This is due to the expansion of the consumer electronics and automotive industries in the region, as well as the presence of major suppliers of magnetoresistive elements in Japan and China. The demand in Asia Pacific is also boosted by rising demand for luxury cars and high-end smartphones.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Robert Bosch GmbH, TDK Corporation, TE Connectivity Ltd., Cubic Sensor and Instrument Co., Ltd., Alps Alpine Co., Ltd., Honeywell International, Inc., Analog Devices, Inc., Crocus Technology, Inc., Avalanche Technology Inc., Micron Technology, Inc.

Scope of the Study

Market Segments covered in the Report:

By Vertical
  • Consumer Electronics
  • Automotive
  • Industrial
  • Aerospace & Defense
  • Others
By Application
  • High Magnetic Field Application
  • Low Magnetic Field Application
By Geography
  • North America
  • US
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
  • LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA
Companies Profiled
  • Robert Bosch GmbH
  • TDK Corporation
  • TE Connectivity Ltd.
  • Cubic Sensor and Instrument Co., Ltd.
  • Alps Alpine Co., Ltd.
  • Honeywell International, Inc.
  • Analog Devices, Inc.
  • Crocus Technology, Inc.
  • Avalanche Technology Inc.
  • Micron Technology, Inc.
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Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Magnetoresistive Element Market, by Vertical
1.4.2 Global Magnetoresistive Element Market, by Application
1.4.3 Global Magnetoresistive Element Market, by Geography
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.3 Porter’s Five Forces Analysis
Chapter 4. Global Magnetoresistive Element Market by Vertical
4.1 Global Consumer Electronics Market by Region
4.2 Global Automotive Market by Region
4.3 Global Industrial Market by Region
4.4 Global Aerospace & Defense Market by Region
4.5 Global Others Market by Region
Chapter 5. Global Magnetoresistive Element Market by Application
5.1 Global High Magnetic Field Application Market by Region
5.2 Global Low Magnetic Field Application Market by Region
Chapter 6. Global Magnetoresistive Element Market by Region
6.1 North America Magnetoresistive Element Market
6.1.1 North America Magnetoresistive Element Market by Vertical
6.1.1.1 North America Consumer Electronics Market by Country
6.1.1.2 North America Automotive Market by Country
6.1.1.3 North America Industrial Market by Country
6.1.1.4 North America Aerospace & Defense Market by Country
6.1.1.5 North America Others Market by Country
6.1.2 North America Magnetoresistive Element Market by Application
6.1.2.1 North America High Magnetic Field Application Market by Country
6.1.2.2 North America Low Magnetic Field Application Market by Country
6.1.3 North America Magnetoresistive Element Market by Country
6.1.3.1 US Magnetoresistive Element Market
6.1.3.1.1 US Magnetoresistive Element Market by Vertical
6.1.3.1.2 US Magnetoresistive Element Market by Application
6.1.3.2 Canada Magnetoresistive Element Market
6.1.3.2.1 Canada Magnetoresistive Element Market by Vertical
6.1.3.2.2 Canada Magnetoresistive Element Market by Application
6.1.3.3 Mexico Magnetoresistive Element Market
6.1.3.3.1 Mexico Magnetoresistive Element Market by Vertical
6.1.3.3.2 Mexico Magnetoresistive Element Market by Application
6.1.3.4 Rest of North America Magnetoresistive Element Market
6.1.3.4.1 Rest of North America Magnetoresistive Element Market by Vertical
6.1.3.4.2 Rest of North America Magnetoresistive Element Market by Application
6.2 Europe Magnetoresistive Element Market
6.2.1 Europe Magnetoresistive Element Market by Vertical
6.2.1.1 Europe Consumer Electronics Market by Country
6.2.1.2 Europe Automotive Market by Country
6.2.1.3 Europe Industrial Market by Country
6.2.1.4 Europe Aerospace & Defense Market by Country
6.2.1.5 Europe Others Market by Country
6.2.2 Europe Magnetoresistive Element Market by Application
6.2.2.1 Europe High Magnetic Field Application Market by Country
6.2.2.2 Europe Low Magnetic Field Application Market by Country
6.2.3 Europe Magnetoresistive Element Market by Country
6.2.3.1 Germany Magnetoresistive Element Market
6.2.3.1.1 Germany Magnetoresistive Element Market by Vertical
6.2.3.1.2 Germany Magnetoresistive Element Market by Application
6.2.3.2 UK Magnetoresistive Element Market
6.2.3.2.1 UK Magnetoresistive Element Market by Vertical
6.2.3.2.2 UK Magnetoresistive Element Market by Application
6.2.3.3 France Magnetoresistive Element Market
6.2.3.3.1 France Magnetoresistive Element Market by Vertical
6.2.3.3.2 France Magnetoresistive Element Market by Application
6.2.3.4 Russia Magnetoresistive Element Market
6.2.3.4.1 Russia Magnetoresistive Element Market by Vertical
6.2.3.4.2 Russia Magnetoresistive Element Market by Application
6.2.3.5 Spain Magnetoresistive Element Market
6.2.3.5.1 Spain Magnetoresistive Element Market by Vertical
6.2.3.5.2 Spain Magnetoresistive Element Market by Application
6.2.3.6 Italy Magnetoresistive Element Market
6.2.3.6.1 Italy Magnetoresistive Element Market by Vertical
6.2.3.6.2 Italy Magnetoresistive Element Market by Application
6.2.3.7 Rest of Europe Magnetoresistive Element Market
6.2.3.7.1 Rest of Europe Magnetoresistive Element Market by Vertical
6.2.3.7.2 Rest of Europe Magnetoresistive Element Market by Application
6.3 Asia Pacific Magnetoresistive Element Market
6.3.1 Asia Pacific Magnetoresistive Element Market by Vertical
6.3.1.1 Asia Pacific Consumer Electronics Market by Country
6.3.1.2 Asia Pacific Automotive Market by Country
6.3.1.3 Asia Pacific Industrial Market by Country
6.3.1.4 Asia Pacific Aerospace & Defense Market by Country
6.3.1.5 Asia Pacific Others Market by Country
6.3.2 Asia Pacific Magnetoresistive Element Market by Application
6.3.2.1 Asia Pacific High Magnetic Field Application Market by Country
6.3.2.2 Asia Pacific Low Magnetic Field Application Market by Country
6.3.3 Asia Pacific Magnetoresistive Element Market by Country
6.3.3.1 China Magnetoresistive Element Market
6.3.3.1.1 China Magnetoresistive Element Market by Vertical
6.3.3.1.2 China Magnetoresistive Element Market by Application
6.3.3.2 Japan Magnetoresistive Element Market
6.3.3.2.1 Japan Magnetoresistive Element Market by Vertical
6.3.3.2.2 Japan Magnetoresistive Element Market by Application
6.3.3.3 India Magnetoresistive Element Market
6.3.3.3.1 India Magnetoresistive Element Market by Vertical
6.3.3.3.2 India Magnetoresistive Element Market by Application
6.3.3.4 South Korea Magnetoresistive Element Market
6.3.3.4.1 South Korea Magnetoresistive Element Market by Vertical
6.3.3.4.2 South Korea Magnetoresistive Element Market by Application
6.3.3.5 Singapore Magnetoresistive Element Market
6.3.3.5.1 Singapore Magnetoresistive Element Market by Vertical
6.3.3.5.2 Singapore Magnetoresistive Element Market by Application
6.3.3.6 Malaysia Magnetoresistive Element Market
6.3.3.6.1 Malaysia Magnetoresistive Element Market by Vertical
6.3.3.6.2 Malaysia Magnetoresistive Element Market by Application
6.3.3.7 Rest of Asia Pacific Magnetoresistive Element Market
6.3.3.7.1 Rest of Asia Pacific Magnetoresistive Element Market by Vertical
6.3.3.7.2 Rest of Asia Pacific Magnetoresistive Element Market by Application
6.4 LAMEA Magnetoresistive Element Market
6.4.1 LAMEA Magnetoresistive Element Market by Vertical
6.4.1.1 LAMEA Consumer Electronics Market by Country
6.4.1.2 LAMEA Automotive Market by Country
6.4.1.3 LAMEA Industrial Market by Country
6.4.1.4 LAMEA Aerospace & Defense Market by Country
6.4.1.5 LAMEA Others Market by Country
6.4.2 LAMEA Magnetoresistive Element Market by Application
6.4.2.1 LAMEA High Magnetic Field Application Market by Country
6.4.2.2 LAMEA Low Magnetic Field Application Market by Country
6.4.3 LAMEA Magnetoresistive Element Market by Country
6.4.3.1 Brazil Magnetoresistive Element Market
6.4.3.1.1 Brazil Magnetoresistive Element Market by Vertical
6.4.3.1.2 Brazil Magnetoresistive Element Market by Application
6.4.3.2 Argentina Magnetoresistive Element Market
6.4.3.2.1 Argentina Magnetoresistive Element Market by Vertical
6.4.3.2.2 Argentina Magnetoresistive Element Market by Application
6.4.3.3 UAE Magnetoresistive Element Market
6.4.3.3.1 UAE Magnetoresistive Element Market by Vertical
6.4.3.3.2 UAE Magnetoresistive Element Market by Application
6.4.3.4 Saudi Arabia Magnetoresistive Element Market
6.4.3.4.1 Saudi Arabia Magnetoresistive Element Market by Vertical
6.4.3.4.2 Saudi Arabia Magnetoresistive Element Market by Application
6.4.3.5 South Africa Magnetoresistive Element Market
6.4.3.5.1 South Africa Magnetoresistive Element Market by Vertical
6.4.3.5.2 South Africa Magnetoresistive Element Market by Application
6.4.3.6 Nigeria Magnetoresistive Element Market
6.4.3.6.1 Nigeria Magnetoresistive Element Market by Vertical
6.4.3.6.2 Nigeria Magnetoresistive Element Market by Application
6.4.3.7 Rest of LAMEA Magnetoresistive Element Market
6.4.3.7.1 Rest of LAMEA Magnetoresistive Element Market by Vertical
6.4.3.7.2 Rest of LAMEA Magnetoresistive Element Market by Application
Chapter 7. Company Profiles
7.1 Robert Bosch GmbH
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Research & Development Expense
7.1.5 Recent strategies and developments:
7.1.5.1 Product Launches and Product Expansions:
7.1.6 SWOT Analysis
7.2 TDK Corporation
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Regional & Segmental Analysis
7.2.4 Research & Development Expenses
7.2.5 Recent strategies and developments:
7.2.5.1 Partnerships, Collaborations, and Agreements:
7.2.5.2 Product Launches and Product Expansions:
7.2.6 SWOT Analysis
7.3 TE Connectivity Ltd.
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Research & Development Expense
7.3.5 SWOT Analysis
7.4 Cubic Sensor and Instrument Co., Ltd.
7.4.1 Company Overview
7.4.2 SWOT Analysis
7.5 Alps Alpine Co., Ltd.
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Segmental and Regional Analysis
7.5.4 Recent strategies and developments:
7.5.4.1 Product Launches and Product Expansions:
7.5.5 SWOT Analysis
7.6 Honeywell International, Inc.
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental and Regional Analysis
7.6.4 Research & Development Expenses
7.6.5 SWOT Analysis
7.7 Analog Devices, Inc.
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Regional Analysis
7.7.4 Research & Development Expenses
7.7.5 SWOT Analysis
7.8 Crocus Technology, Inc.
7.8.1 Company overview
7.8.2 Recent strategies and developments:
7.8.2.1 Product Launches and Product Expansions:
7.8.3 SWOT Analysis
7.9 Avalanche Technology Inc.
7.9.1 Company Overview
7.9.2 Recent strategies and developments:
7.9.2.1 Product Launches and Product Expansions:
7.9.3 SWOT Analysis
7.10. Micron Technology, Inc.
7.10.1 Company Overview
7.10.2 Financial Analysis
7.10.3 Segmental and Regional Analysis
7.10.4 Research & Development Expense
7.10.5 SWOT Analysis
Chapter 8. Winning Imperative for the Magnetoresistive Element Market

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