Global Magnetic Sensor Market Size, Share, Trends, COVID-19 Impact & Growth Forecast Report – Segmented By Type (Hall Effect, Anisotropic Magneto Resistance (AMR), Giant Magneto Resistance (GMR), Tunnel Magneto Resistance (TMR), Fluxgate, Others), Range (<1 Microgauss, 1 Microgauss–10 Gauss, and >10 Gauss), End-User (Automotive, Industrial, Energy, and Consumer Electronics), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Industry Analysis (2024 to 2029)

Updated On: January, 2024
ID: 9251
Pages: 180

Global Magnetic Sensor Market Size (2024 to 2029)

The global magnetic sensor market is predicted to reach USD 5.20 billion in 2024 and USD 7.89 billion by 2029, growing at a CAGR of 8.7% during the forecast period.

The magnetic sensor, also known as a magnetic field sensor, is classified in terms of measuring a full magnetic field or vector components of the magnetic field. Permanent magnets like neodymium magnets are used to activate magnetic sensors in various applications. The magnetic sensor is often employed to identify the magnitude and direction of the magnetic field. Increased demand for IoT and the production of high-quality consumer electronics, electric and hybrid vehicles, and detection devices worldwide are influencing the adoption of magnetic sensors in various end-user industries. This is supposed to stimulate the growth of the global magnetic sensors market during the forecast period. The rise in the adoption of robotics for factory automation, due to the policies of Industry 4.0, increases the need for magnetic sensors for various security applications on the world market.

Global Magnetic Sensor Market Drivers:

The automotive industry is among the leading markets for the global magnetic sensor market. Some of the main applications of magnetic sensors in this market are anti-lock braking systems and engine control management systems. Also, in the automotive industry, vehicle safety systems play an essential role as they are used for user safety. Therefore, they are widely installed in several countries, such as the United States, Canada, Australia, and Japan. Some of the other important applications of magnetic sensors in the automotive industry are vehicle position detection, automatic machine inspection, electronic stability control (ESC) systems, tire pressure monitoring systems (TPMS), and other vehicle manufacturing systems. The development of the service sector and the high growth rate of data centers and cloud providers further increase the demand for these sensors to be deployed in the power distribution unit (PDU), which is a crucial part of data centers. In addition, it is believed that the mandatory regulations of government agencies, such as the installation of safety equipment and detection elements in cars, create significant opportunities for the growth of the market studied.

In the case of automotive applications, GMR and TMR sensors have shown less energy consumption in continuous operation. They can also be easily accommodated in smaller package sizes than their counterparts; therefore, they see the increasing deployment of these sensors in auto parts. The demand for magnetic sensors is foreseen to increase in the automotive industry. Detection devices are increasingly used in this industry to improve vehicle comfort and fuel efficiency. Magnetic sensor suppliers focus on providing efficient devices that can serve a wide range of applications. The increased demand and penetration of electric and hybrid vehicles, as well as the use of GPS in cars, can also fuel the demand for magnetic sensors in the automotive industry.

Global Magnetic Sensor Market Restraints:

The market for magnetic sensors is likely to experience price erosion in the coming years. The fall in the average sales price is due to the pressure at which the manufacturers of magnetic sensors provide services to various end-user industries, such as automotive, consumer electronics, manufacturing, medicine, aerospace, and defense, face the reduction of the cost of your final application. It is estimated that the ASP of all magnetic sensors has fallen to 10.28% year-on-year compared to 2016.    Intense competition is another reason that has reduced the prices of magnetic sensors. It is difficult for new players to enter the market, which faces such price competitiveness. Despite the drop in average sales prices, the market should generate a significant demand from sectors such as the automobile and consumer electronics. The main challenges for companies operating in this segment are increasing their manufacturing capacity, providing better quality products, and reducing the overall cost of production.




Market Size Available

2023 to 2029

Base Year


Forecast Period

2024 to 2029



Segments Covered

By Type, Range, End User, and Region


Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa



Market Leaders Profiled

Asahi Kasei Microdevices Corporation, Allegro Microsystems, Infineon Technologies, TDK Corporation, Melexis, Alps Electric Co., Ltd, Baumer Ltd., Honeywell International, Inc., Elmos Semiconductor AG, TE Connectivity, AMS AG, NXP Semiconductor, iC-Haus, Koshin Electric, Memsic Corporation, Quspin, Sensitec GmbH, Crocus Technology, Coto Technology, Multidimension Technology Co., Ltd and Others.


This global magnetic sensor market research report has been segmented and sub-segmented based on the type, range, end-user, and region.

Global Magnetic Sensor Market - By Type:

  • Hall Effect Sensors

  • Anisotropic Magnetoresistive Sensors (AMR)

  • Giant Magnetoresistive Sensors (GMR)

  • Tunnel Magnetoresistive Sensors (TMR)

  • Fluxgate Sensors

  • Others

The Hall effect sensors accounted for a principal portion of the global magnetic sensors market in the review period, which is predicted to continue in the forecast period. However, tunnel magnetoresistive sensors (TMR) are likely to expand at the highest growth rate in the coming years.

Global Magnetic Sensor Market - By Range:

  • <1 Microgauss (low field sensors)

  • Microgauss - 10 Gauss (land field sensors)

  • > 10 Gauss (BIAS magnetic field sensors)

The > 10 Gauss range registered the maximum revenue share in the global magnetic sensors business, owing to its applications in the automotive industry.

Global Magnetic Sensor Market - By End-User:

  • Automotive

  • Industrial

  • Consumer Electronics

  • Energy

  • Others

The automotive sector is the leading end-user vertical for magnetic sensors, which accounts for a dominant revenue share. It is also predicted that this segment will expand with the highest CAGR in the foreseen years with the rising demand for electric and hybrid vehicles.

Global Magnetic Sensor Market - By Region:

  • North America

    • The United States

    • Canada

    • Rest of North America

  • Europe

    • The United Kingdom

    • Spain

    • Germany

    • Italy

    • France

    • Rest of Europe

  • The Asia Pacific

    • India

    • Japan

    • China

    • Australia

    • Singapore

    • Malaysia

    • South Korea

    • New Zealand

    • Southeast Asia

  • Latin America

    • Brazil

    • Argentina

    • Mexico

    • Rest of LATAM

  • The Middle East and Africa

    • Saudi Arabia

    • UAE

    • Lebanon

    • Jordan

    • Cyprus

Among these, the Asia Pacific magnetic sensors market dominated the global market in the previous years and is projected to expand with the highest annual growth rate in the outlook period. The extensive automotive industry, the presence of several consumer electronics manufacturers, and the increasing investments by key players are primarily driving the business growth in this area.


The major companies operating in the global magnetic sensor market include Asahi Kasei Microdevices Corporation, Allegro Microsystems, Infineon Technologies, TDK Corporation, Melexis, Alps Electric Co., Ltd, Baumer Ltd., Honeywell International, Inc., Elmos Semiconductor AG, TE Connectivity, AMS AG, NXP Semiconductor, iC-Haus, Koshin Electric, Memsic Corporation, Quspin, Sensitec GmbH, Crocus Technology, Coto Technology, Multidimension Technology Co., Ltd.


  • TDK Corporation, joining the Tokyo University of Medicine and Dentistry (TMDU) in 2019, performed the world's first real-time measurement of the magnetic field distribution of cardiac activity using the MR. This research, in collaboration with TDK and TMDU, is currently working on the development of precise measuring devices and magnetic sensors to replace existing SQUID sensors. 

  • Infineon launched its first magnetic sensors in June 2018, which is based on TMR technology, making it the first sensor manufacturer in the world to offer magnetic sensors based on the four magnetic technologies, namely HALL, GMR, TMR, and AMR. Infineon presented the new XENSIV TLE5501 angle sensor family at the Sensor + Test 2018 fair in Nuremberg. 

  • Allegro MicroSystems launched the first magnetic gear tooth sensor integrated circuit designed for traction motors in November 2019.

  • In June 2019, Infineon Technologies AG launched angle sensor products based on AMR-XENSIV TLE5109A16 for functional safety levels in automotive and industrial applications.

  • TDK, Asahi Kasei Microdevices developed a 3-axis magnetometer in January 2018, incorporating a magnetoresistive tunnel element designed with an advanced ASIC electronic compass.


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Frequently Asked Questions

How do advancements in IoT impact the demand for magnetic sensors?

With the proliferation of IoT devices, the demand for magnetic sensors has increased, as they are essential for applications like proximity sensing, object detection, and navigation in smart devices and appliances.

How are advancements in magnetic sensor technology impacting their miniaturization?

Technological advancements have led to the miniaturization of magnetic sensors, enabling their integration into smaller devices and applications, thus expanding their utility across various industries.

What are the main types of magnetic sensors dominating the market currently?

The market is predominantly driven by Hall Effect sensors, magnetoresistive sensors, and SQUID (Superconducting Quantum Interference Device) sensors, each offering specific advantages for different applications.

How do market players differentiate themselves in the competitive landscape of the magnetic sensor industry?

Market players differentiate themselves through innovations in sensor technology, strategic partnerships with end-user industries, and emphasis on factors like sensitivity, power efficiency, and robustness in sensor design and manufacturing.






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