Published Date : Aug 16, 2018
Albany, New York, August 16, 2018: Driven by favorable government regulations encouraging the use of eco-friendly vehicles and the demand for environment friendly consumer appliances, the global magnetic sensors market will report a healthy growth between 2018 and 2026. Regionally, North America is likely to offer attractive growth opportunities to the market, finds a report titled “Magnetic Sensors Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026.” The study is currently available for sale on the official website of MarketResearchReports.biz.
The report contains valuable information on various factors enabling growth in the global magnetic sensors market. It also offers insights into potential threats. Besides this, the report offers relevant statistics and data obtained from trusted industrial sources. It is therefore compiled to offer a comprehensive overview of the global magnetic sensors market to its stakeholders.
The report predicts the market to significantly gain from the recent technological advancements on consumer electronics. Additionally, the demand for magnetic sensors is forecast to rise in response to the accelerating proliferation of IoT technology around the world. To support these advancements, improved sensing is imperative, which report has touted as the chief driver of the global magnetic sensors market. Taking clue from prevailing trends, consumer electronics companies from across the globe are deploying devices with magnetic sensors to offer enhanced security in contactless measurement. Following the practice, semiconductor provides in North America are investing in advanced technology sensors for use in household appliances, exercise equipment, smartphones, digital cameras, toys, and other electronic equipment.
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In the coming years, the market is likely to witness increasing demand from consumer electronics, automotive, and other industrial sectors. Among these, the automotive sector is forecast by the report to exhibit dominance in the global magnetic sensors market. The demand for improved fuel efficiency, performance, and safety is expected to increase application of magnetic sensors in the automotive industry.
In addition, the market is likely to gain from the rising demand for electric vehicles. In the consumer electronics segment, the market is projected to gain on account of the rising demand for health monitoring devices and smartwatches. Regionally, the global magnetic sensors market can be segmented into Europe, North America, South America, Asia Pacific, and the Middle East and Africa. Among these regions, North America emerged dominant in the global magnetic sensors market, trailed by Asia Pacific in 2017. According to the report, the U.S. held the largest share in the North America magnetic sensors market in North America in 2017.
Some of the leading companies operating in the global magnetic sensors market are Honeywell International Inc., Infineon Technologies AG, TE Connectivity Corporation, Alps Electric Co. Ltd, NXP Semiconductors, Asahi Kasei Corporation, Allegro Microsystems, Inc., Magnetic Sensors Corporation, Analog Devices, Inc., and Elmos Semiconductor AG.
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