The On Board Magnetic Sensor Market report provides detailed information regarding the major factors influencing the growth of the on-board magnetic sensor market.
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Main players are Asahi Kasei Micro devices (Japan), Sanken Electric (Allegro Subsidiary) (Japan), Infineon Technologies (Germany), TDK Corporation (Japan), Melexis NV (Belgium), Murata Manufacturing (Japan), Honeywell International (US), TE Connectivity (Switzerland), AMS (Austria), NXP Semiconductors N.V. (Netherlands).
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The key factors contributing to the growth of the on-board magnetic sensor market are continuous growth in the use of on-board magnetic sensors for consumer electronics applications and role of on-board magnetic sensors in navigation. However, the inconsistent magnetic field is the key restraints for the growth of the on-board magnetic sensor market.
The scope for on-board magnetic sensors in the hybrid and electric vehicles market is the major opportunity for the studied market.
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“Hall effect sensors expected to hold largest market size during forecast period”
For most of the consumer electronics and automotive applications, a Hall effect sensor is one of the most apparent choices owing to its non contacting feature, durability, and robustness to dirt and other environmental contaminants. Thus, Hall effect sensors are expected to hold the leading position in the on-board magnetic sensor market between 2018 and 2023.
“On-board magnetic sensor market in APAC expected to grow at highest CAGR during forecast period”
APAC is expected to be the fastest-growing market. The on-board magnetic sensor market in APAC is divided into India, China, Japan, South Korea, and Rest of APAC.
This growth is mainly due to the increasing demand for Hall effect sensors for industrial automation applications in automotive and consumer electronics industries in emerging economies such as China and India. In addition, continuous technological advancements and connectivity of Hall effect sensors with IoT would drive the market growth in APAC during the forecast period.
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In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry experts.
The breakup of the profiles of primary participants has been given below:
- By Company Type: Tier 1—45%, Tier 2—30%, and Tier 3—25%
- By Designation: Managers—60% and C-Level Executives—40%
- By Region: Americas—45%, Europe—35%, APAC—15%, and RoW—5%
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