Magnetic Field Sensors Market Growth, Trends, Analysis and Forecast

Technavio Announces the Publication of its Research Report – Global Magnetic Field Sensor Market 2016-2020

Technavio recognizes the following companies as the key players in the global magnetic field sensor market: Allegro MicroSystems, Asahi Kasei, Infineon Technologies, and Micronas Semiconductor.

Other Prominent Vendors in the market are: Bosch Sensortec, Honeywell, Melexis Microelectronic Systems, MEMSIC, and NXP Semiconductors.
Commenting on the report, an analyst from Technavio’s team said: “A trend which is propelling market growth is the emergence of wearable tech. Globally, individuals are increasingly adopting wearable devices to enhance the quality of their lifestyle. Wearable tech is a mobile form of communications technology that is worn on the body and can be used to monitor daily activities and access smartphone functionalities. It includes smart watches, smart glasses (such as Google Glass), smart fabrics, heart rate monitors, and fitness tracking gadgets (such as FitBit Surge). Magnetic sensor manufacturers such as Infineon have started developing MEMS magnetic sensors to support the requirements of wearable technology.”
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According to the report, a key growth driver is the improved efficiency in the automotive segment. Numerous sensors are required in modern cars, and many more automotive applications are expected to be introduced in the coming years. This can be attributed to consumers demanding features that improve safety, handling, stability, performance, comfort, and convenience. In vehicles, the body and powertrain segments show the highest potential for magnetic field sensors.
Further, the report states that one challenge that could hamper market growth is the adverse effect of temperature on sensor operations.
About the Magnetic Field Sensor Market

Magnetic field sensors are devices used to sense and...