Magnetoresistance Sensor Market Highlights

The Global Magnetoresistance Sensor Market is expected to grow from USD 2,021.9 million in 2018 to USD 3,149.5 Million by 2024, at a CAGR of 7.7% during the forecast period.

The various advantages of magnetoresistance sensor including its affordability, temperature stability, and robustness, is increasingly leading to its deployment in various sectors such as consumer electronics, automotive, aerospace defense, and biotechnology. These sensors were earlier used in magnetic hard disk drives. However, these find important applications in  consumer electronics and automotive sectors for sensing current, position, speed, and angle along with the earth’s magnetic field in compass applications.

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Magnetoresistance Sensor Market Key Players

The major players dominating the magnetoresistance sensor Market are AMS (Austria), Murata (Japan), TE Connectivity (Switzerland), Asahi Kasei Micro Devices Corporation (Japan), Honeywell International Inc. (US), Analog Devices (US), NXP Semiconductor N.V.(Netherlands), Infineon Technologies AG (Germany), Memsic Inc.(US), and Robert Bosch GmbH (Germany).

Other prominent players studied for the magnetoresistance sensor market are Diodes Incorporated (US), Magnachip Semiconductor (South Korea), Panasonic (Japan), Allegro Microsystems Inc. (US), Micronas Semiconductor Holdings AG (Switzerland), Melexix NV (Belgium), Sanken Electric Co., Ltd (Japan), among others.

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Segment Overview

Magnetoresistance Sensor Market, by Type

• Hall Effect Sensors
• Magnetoresistive Sensors
• anisotropic magnetoresistive
• (AMR) sensors
• giant magnetoresistive (GMR) sensors
• tunnel magnetoresistive

Magnetoresistance Sensor Market, by a Range

• 1 microgauss–10 gauss
• 10 gauss
• 1 microgauss

Magnetoresistance Sensor Market, by Application

• Proximity Detection/NDT
• Position Sensing
• Speed Sensing
• Flow rate Sensing
• Navigation and Electronic Compass

Magnetoresistance Sensor Market, by End-User

• Consumer Electronics
• Healthcare
• Transportation
• Industrial
• BFSI
• Aerospace Defense
• Energy Power
• Food Beverages

By Region

The U.S.

• Canada
• North America
• Mexico

Europe

• The UK
• France
• Germany
• Rest of Europe
• Italy

Asia-Pacific

• Japan
• India
• South Korea
• China
• Rest of Asia-Pacific
• Latin America
• the Middle East
• LAMEA
• Africa

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Magnetoresistance Sensor Market Regional Analysis

The global market for magnetoresistance sensor is estimated to grow at a significant rate during the forecast period from 2019 to 2024. The geographical analysis of magnetoresistance sensor market has been conducted for North America, Europe, Asia-Pacific, Middle East and Africa, and Central and South America.

North America accounts for the largest share in the magnetoresistance sensor market due to the  high adoption of these sensors in automotive applications. Growth in the number of automobiles and development of connected cars are leading to the high adoption of magnetoresistance sensors in this region. Automobile manufacturers are increasingly implementing miniature magnetic sensing devices into automobiles in order to provide improved communication capabilities, which is expected to further increase the demand for these sensors over the forecast period. Also, the high adoption of consumer electronics such as smart watches and smart wearables in the region, due to healthcare awareness and rising disposable incomes is expected to increase the growth of the market.