The Global Magnetic Sensor Market size is expected to reach $5.9 billion by 2030, rising at a market growth of 5.8% CAGR during the forecast period. In the year 2022, the market attained a volume of 1,514.9 million Units experiencing a growth of 5.9% (2019-2022).
Magnetic sensors play a key role in position detection within the automotive system. Therefore, Automotive segment generated $1,549.2 million revenue in the market in 2022. As a result, magnetic sensors are employed for rotational angle measurement in applications where rotational movement needs to be monitored. This is especially critical in applications such as the steering system, where magnetic sensors assist in determining the steering wheel’s position. These aspects will drive the demand for magnetic sensors in the future.
The major strategies followed by the market participants are Product Launches as the key developmental strategy to keep pace with the changing demands of end users. For instance, In October, 2023, TDK Corporation unveiled the HAL 3927 sensor, a linear, ratiometric analog output. The launched product would be designed for automotive and industrial applications. Moreover, In July, 2023, MultiDimension Technology Co., Ltd. announced the launch of several TMR switch sensors, including dual-axis quadrature-waveform TMR1222/TMR1228 bipolar switches. The launched product would be used for automotive level-sensing applications.
Based on the Analysis presented in the KBV Cardinal matrix; Honeywell International, Inc. is the major forerunner in the Market. In January, 2021, Honeywell International, Inc. released LIB Optical Caliper Sensor, an Optical Caliper Measurement Sensor. The launched product would offer an effective solution for measuring the true thickness of electrode material during coating and also at the pressing station during LIB manufacturing. Companies such as Infineon Technologies AG, Robert Bosch GmbH, and NXP Semiconductors N.V. are some of the key innovators in the Market.
Market Growth Factors
Growing automation in various industries
Magnetic sensors are extensively used for position sensing in industrial machinery and equipment. Whether it’s monitoring the position of a robotic arm, detecting the location of a conveyor belt, or ensuring the proper alignment of components in a manufacturing line, magnetic sensors provide precise and reliable information. This accuracy is crucial for maintaining the desired workflow and correctly positioning each component. Monitoring rotational speed and linear velocity is a fundamental aspect of industrial automation. This information is essential for maintaining optimal operational speeds, preventing malfunctions, and facilitating efficient production processes. Thus, these factors will propel the expansion of the market in the coming years.
Increasing demand for magnetic sensors in consumer electronics
Magnetic sensors are integral to smartphones, contributing to several essential features. One of the primary applications is in the implementation of electronic compasses. These sensors, often based on magnetometer technology, enable smartphones to determine their orientation relative to the Earth’s magnetic field. This functionality is crucial for navigation applications like map and GPS services. Gesture recognition enhances user interfaces, allowing users to interact with devices through gestures without physical touch, which is particularly relevant in smartphones and other smart devices. These factors are expected to help in the expansion of the market.
Market Restraining Factors
Limited precision in extreme conditions
The sensors may be influenced or saturated in environments with strong external magnetic fields, leading to inaccurate readings. This is particularly relevant in industries where large magnets or magnetic materials are used. Calibration and positioning strategies are often employed to mitigate the impact of external magnetic fields, but extreme conditions can pose challenges. Mechanical stress and vibrations in certain environments, such as those encountered in heavy machinery or automotive applications, can impact the physical integrity of magnetic sensors. The alignment and positioning of sensor components may be affected, leading to deviations in sensor output. Design considerations for ruggedness and resilience become crucial in such applications. These aspects can hamper the growth of the market in the future.
End-use Outlook
Based on end-use, the market is divided into automotive, consumer electronics, industrial, and others. The automotive segment recorded the maximum revenue share in the market in 2022. One of the primary factors contributing to the growth of magnetic sensors in the automotive sector is the ongoing trend toward vehicle electrification. Electric vehicles (EVs) and hybrid vehicles utilize magnetic sensors for various applications, including motor control, battery management, and position sensing. Magnetic sensors play a crucial role in accurately determining the position of components such as the rotor in electric motors, ensuring optimal performance and efficiency. Owing to these factors, the segment will expand rapidly in the coming years.
Technology Outlook
On the basis of technology, the market is divided into hall effect, anisotropic magnetoresistance, giant magnetoresistance, tunnel magnetoresistance, and others. In 2022, the anisotropic magnetoresistance segment witnessed a substantial revenue share in the market. Anisotropic magnetoresistance (AMR) sensors are known for their high sensitivity to magnetic fields. This attribute makes them particularly suitable for applications where precise and accurate measurements of magnetic changes are essential. The ability to detect subtle variations in magnetic fields enhances the performance of AMR sensors in diverse applications. Therefore, there will be increased growth in the segment.
Application Outlook
On the basis of application, the market is segmented into position sensing, speed sensing, detection/NDT, navigation & electronic compass, and others. The position sensing segment procured the largest revenue share in the market in 2022. Magnetic sensors offer high precision and accuracy in measuring position, making them crucial in applications where exact positioning is essential, such as in robotics, automotive systems, and industrial automation. Similarly, in wind turbines, solar panels, and other renewable energy systems, magnetic sensors are used for position sensing to optimize the performance and efficiency of these systems. As new technologies emerge, such as autonomous vehicles, drones, and smart infrastructure, there’s an increased demand for accurate and reliable position sensing, further driving the need for advanced magnetic sensor applications.
Regional Outlook
By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific segment acquired the highest revenue share in the market. The Asia Pacific region has been a hub for rapid industrialization, with countries like China, India, and South Korea experiencing significant economic growth. This industrial expansion has increased demand for automation and control systems, where magnetic sensors are crucial. The APAC region’s manufacturing, automotive, and electronics industries extensively utilize magnetic sensors for applications like position sensing, speed detection, and control systems. As a result, the segment will grow rapidly in the coming years.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Honeywell International, Inc., Microsemi Corporation (Microchip Technology), NVE Corporation, NXP Semiconductors N.V., Robert Bosch GmbH, TDK Corporation, MEMSIC Semiconductor Co., Ltd. (IDG Capital Investment Consultant Beijing Co Ltd.), Infineon Technologies AG, Magnetic Sensors Corporation and MultiDimension Technology Co., Ltd.
Recent Strategies Deployed in Magnetic Sensor Market
Mergers & Acquisition
Mar-2022: Robert Bosch GmbH took over Atlatec, a company that creates high-resolution 3D maps for Level 3 and 4 autonomous driving. This acquisition expanded Bosch’s expertise in the field of high-resolution digital maps and made it even more diversified. Consequently, this made Bosch the only company that offers its customers all the necessary building blocks of automated driving from actuators and sensors to software and maps, from a single source.
Apr-2020; Infineon Technologies AG acquired Cypress Semiconductor Corporation, an American semiconductor design and manufacturing company. This acquisition would aim to empower Infineon to provide semiconductors, automotive microcontrollers, sensors, and security solutions.
Partnerships, Collaborations & Agreements
Jan-2023: Infineon Technologies AG partnered with NuCurrent, a developer of high-efficiency antennas for wireless power applications. This partnership aimed to include NuCurrent’s wireless power systems technology and design capabilities to broaden the market via OEMs.
Dec-2021: Robert Bosch GmbH came into partnership with NextNav, a leader in next-generation GPS. The partnership focused on enabling more precise vertical location in barometric pressure sensors. The small and low-power barometric pressure sensors would enable capabilities across use cases including delivering altitude data across consumer technology devices such as drones, wearables, and navigation devices, and powering functionality in industrial applications.
Product Launches and Product Expansions
Nov-2023: NVE Corporation announced the launch of the new ALT021-10E analog magnetometer, the world’s Most Sensitive Magnetometer IC, and more Ultra-Miniature Converters. The launched product would support a variety of low-field sensing applications consisting of motion, speed, and position control and non-contact current sensing, mechatronics and robotics, and navigation.
Oct-2023: TDK Corporation unveiled the HAL 3927 sensor, a linear, ratiometric analog output. The launched product would be designed for automotive and industrial applications.
Jul-2023: MultiDimension Technology Co., Ltd. announced the launch of several TMR switch sensors, including dual-axis quadrature-waveform TMR1222/TMR1228 bipolar switches. The launched product would be used for automotive level-sensing applications.
Nov-2022: Infineon Technologies AG launched the new XENSIV TLE4971 family, a current sensor portfolio for automotive applications. The launched product would design in a TISON package with a combined rail and available in four different pre-programmed current ranges which include 25 A, 50 A, 75 A, and 120 A.
Oct-2022: Infineon Technologies AG unveiled the XENSIV connected sensor kit, a new IoT sensor platform. The launched product would develop for rapid prototyping and development of customized IoT solutions.
Jul-2022: TDK Corporation released a TAS4240 TMR-based angle-sensor for automotive and industrial applications. The launched product would allow precise angle measurements in applications where high performance would be required and space would be limited.
Nov-2021: Honeywell International, Inc. introduced the Honeywell Compact Inertial Navigation System and Honeywell Radar Velocity System, the two new resilient navigation systems. The launched product would offer multiple layers of protection that enable continued operations even in Global Navigation Satellite Systems challenged or denied environments.
Oct-2021: Infineon Technologies AG introduced the new XENSIV TLE4972, the first automotive current sensor. The launched product would be ideal for xEV applications such as traction inverters used in hybrid and battery-driven vehicles and for battery main switches.
Jan-2021: Honeywell International, Inc. released LIB Optical Caliper Sensor, an Optical Caliper Measurement Sensor. The launched product would offer an effective solution for measuring the true thickness of electrode material during coating and also at the pressing station during LIB manufacturing.
Dec-2020: NXP Semiconductors N.V. introduced a complete portfolio of new radar sensor chipset solutions, that could surround vehicles in a 360-degree safety cocoon. The launched product portfolio would allow the identification and classification capabilities of imaging radar.
Scope of the Study
Market Segments covered in the Report:
By End-use (Volume, Million Units, USD Billion/Million, 2019-2030)


    • Automotive
    • Consumer Electronics
    • Industrial
    • Others


By Technology (Volume, Million Units, USD Billion/Million, 2019-2030)


  • • Hall Effect
    • Anisotropic Magnetoresistance
    • Giant Magnetoresistance
    • Tunnel Magnetoresistance
    • Others


By Application (Volume, Million Units, USD Billion/Million, 2019-2030)


  • • Position Sensing
    • Speed Sensing
    • Detection/NDT
    • Navigation & Electronic Compass
    • Others


By Geography (Volume, Million Units, USD Billion/Million, 2019-2030)


  • • North America


o US
o Canada
o Mexico
o Rest of North America


  • • Europe


o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe


  • • Asia Pacific


o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific


  • • LAMEA


o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled


  • • Honeywell International, Inc.
    • Microsemi Corporation (Microchip Technology)
    • NVE Corporation
    • NXP Semiconductors N.V.
    • Robert Bosch GmbH
    • TDK Corporation
    • MEMSIC Semiconductor Co., Ltd. (IDG Capital Investment Consultant Beijing Co Ltd.)
    • Infineon Technologies AG
    • Magnetic Sensors Corporation
    • MultiDimension Technology Co., Ltd.


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