North America Magnetoresistive Element Market Size, Share & Industry Trends Analysis Report By Vertical (Consumer Electronics, Automotive, Industrial, Aerospace & Defense, and Others), By Application, By Country and Growth Forecast, 2023 - 2030
The North America Magnetoresistive Element Market would witness market growth of 5.0% CAGR during the forecast period (2023-2030).
Automotive, industrial automation, consumer electronics, and healthcare are sectors where magnetic sensors are increasingly in demand. Magnetic sensors require magnetoresistive elements as key building blocks, and as more people use sensors, demand for these components rises. The growing demand for flexibility and mobility is one factor influencing the development of the market. The market is driven by the requirement for accurate and dependable detection and sensing capabilities in numerous sectors.
These components are useful for applications including location sensing, proximity sensing, and current sensing because they have high sensitivity and precision in detecting as well as measuring magnetic fields. These abilities are highly needed in consumer electronics and automotive.
The incorporation of magnetoresistive sensors into automobiles is required by government regulations, which is a major driver anticipated to fuel market expansion throughout the forecast period. Due to the critical role these elements play in navigation systems in automobiles and smartphones, the demand for these sensors in the smartphone and automotive industries is anticipated to stay high soon.
Drones are redefining aviation similarly to what they are doing in many other industries. As they do so, they impact established and emerging industries and significantly increase the number of commercial and recreational drone pilots using Canadian airspace. UAVs may thereby improve the effectiveness and competitiveness of Canada's commercial sector. Several key drone industry actors are present in Canada, including federal agencies, academic institutions, non-profit organizations, and a range of drone businesses. The regional market will thus continue to expand during the projected period due to their demand.
The US market dominated the North America Magnetoresistive Element Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $557.6 million by 2030. The Canada market is poised to grow at a CAGR of 7.4% during (2023 - 2030). Additionally, The Mexico market would witness a CAGR of 6.4% during (2023 - 2030).
Based on Vertical, the market is segmented into Consumer Electronics, Automotive, Industrial, Aerospace & Defense, and Others. Based on Application, the market is segmented into High Magnetic Field Application, and Low Magnetic Field Application. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
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
- High Magnetic Field Application
- Low Magnetic Field Application
- US
- Canada
- Mexico
- Rest of North America
- 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 North America Magnetoresistive Element Market, by Vertical
- 1.4.2 North America Magnetoresistive Element Market, by Application
- 1.4.3 North America Magnetoresistive Element Market, by Country
- 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. North America Magnetoresistive Element Market by Vertical
- 4.1 North America Consumer Electronics Market by Country
- 4.2 North America Automotive Market by Country
- 4.3 North America Industrial Market by Country
- 4.4 North America Aerospace & Defense Market by Country
- 4.5 North America Others Market by Country
- Chapter 5. North America Magnetoresistive Element Market by Application
- 5.1 North America High Magnetic Field Application Market by Country
- 5.2 North America Low Magnetic Field Application Market by Country
- Chapter 6. North America Magnetoresistive Element Market by Country
- 6.1 US Magnetoresistive Element Market
- 6.1.1 US Magnetoresistive Element Market by Vertical
- 6.1.2 US Magnetoresistive Element Market by Application
- 6.2 Canada Magnetoresistive Element Market
- 6.2.1 Canada Magnetoresistive Element Market by Vertical
- 6.2.2 Canada Magnetoresistive Element Market by Application
- 6.3 Mexico Magnetoresistive Element Market
- 6.3.1 Mexico Magnetoresistive Element Market by Vertical
- 6.3.2 Mexico Magnetoresistive Element Market by Application
- 6.4 Rest of North America Magnetoresistive Element Market
- 6.4.1 Rest of North America Magnetoresistive Element Market by Vertical
- 6.4.2 Rest of North America 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
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