Lucintel Forecasts Magnetic Sensor Market to Reach $3.1 Billion by 2028

Market-Research

According to the recent study the magnetic sensor market is projected to reach an estimated $3.1 billion by 2028 from $2.2 billion in 2023, at a CAGR of 7.1% from 2023 to 2028. Growth in this market is primarily driven by increasing usage of magnetic sensors in transportation and consumer electronics industries along with growing demand for IOT technologies in various applications.

A more than 150 – page report is developed to understand trends, opportunities and forecast in magnetic sensor market by product type (hall effect, anisotropic magnetoresistance, and others), range (<1 microgauss, 1 microgauss–10 gauss, and >10 gauss), application (speed sensing, proximity detection/NDT, position sensing, and others), end use industry (transportation, consumer electronics, healthcare, aerospace & defense, and others), and region.

Download sample report by clicking on below link https://www.lucintel.com/magnetic-sensor-market.aspx

“Hall effect market is expected to remain the largest segment during the forecast period.”

Based on product type, the magnetic sensor market is segmented into hall effect, anisotropic magnetoresistance, and others. Lucintel forecasts that the hall effect market is expected to remain the largest segment due to the growing application of these sensors in ADAS and hybrid electric vehicles for speed as well as position measurement.

“Within the magnetic sensor market, the transportation segment is expected to remain the largest end use industry”

Based on end use industry the transportation segment is expected to witness the highest growth over the forecast period due to the increasing demand for Zigbee in healthcare, hall effect product type to support remote monitoring facilities, and consumer comfort and convenience enhancement.

“Asia pacific will dominate the magnetic sensor market in near future”

APAC will remain the largest region due to the increasing demand for improved vehicles and smartphones with integrated sensors in the region and presence of key manufacturer in China and Japan.

Download Brochure of this report by clicking on https://www.lucintel.com/magnetic-sensor-market.aspx

Major players of magnetic sensor market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. are among the major magnetic sensor providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/magnetic-sensor-market.aspx or helpdesk@lucintel.com

About Lucintel

At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times. For further information, visit www.lucintel.com

Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056

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