Giant magnetoresistance (GMR) is primarily a quantum mechanical magnetoresistance effect which is detected in the multilayers composed of alternating non-magnetic as well as ferromagnetic conductive layers. Giant magnetoresistive sensors are employed for speed, position and angle sensing. Major application area of giant magnetoresistive sensor includes consumer electronics, aerospace and defense among others. Moreover, microelectronics and biotechnology is also some of the prime application area of giant magnetoresistive sensors.

Increasing demand and application of MEMS focused sensors are acting as one of the drivers for the giant magnetoresistive sensor market globally. Application of giant magnetoresistive sensors for sensing magnetic field and electrical currents in industrial sector is one of the major driving factors for the market globally.

Moreover, Giant magnetoresistive sensors are primarily implemented in Lab-on-a-Chip devices in order to identify and detect magnetic nanoparticles that are applied as tags for different biomolecules. Rising application of GMR sensors across automotive sector is another major driving factor for the market worldwide.

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Increasing proliferation of advanced smart electronic gadgets in developed as well as developing nations is also fueling the growth of giant magnetoresistive sensors globally. Growing application of different sort of sensors in high end medical devices is boosting the market across globally. 

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Steering angle measurement along with crank shaft position and speed sensing are some of the key application areas of giant magnetoresistive sensors in automotive sector.