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Magnetic Sensors Market Analysis By Technology (Hall Effect Sensing, AMR, GMR), By Application (Automotive, Consumer Electronics, Industrial) And Segment Forecasts To 2022LONDON, July 12, 2016 /PRNewswire/ -- The global magnetic sensors market size is expected to reach USD 3.65 billion by 2022 according to a new report by Grand View Research, Inc. Magnetic sensors find numerous applications across various verticals including automotive, consumer electronics, industrial, and others such as aerospace and defense, R&D, and non-destructive testing activities. Automotive applications segment dominated the industry accounting for over 50% of the market revenue share in 2014. These sensing devices form an essential part of major safety and driver assistance systems in modern day vehicles thereby driving their demand. Moreover, such sensors and switches have become a critical part of the battery systems in hybrid and Electronic Vehicles (EV) owing to their efficient and battery saving operation. Asia Pacific region dominates the global market in terms of demand and is projected to grow at a CAGR of nearly 12% over the forecast period. Presence of major end-use industries in the region has led to an increasing demand for such sensing modules in the region. Countries such as China, Japan, and India house most of the technological and automotive giants leading to an escalating demand over the forecast period. Key industry participants include Baumer, Honeywell International Inc., iC-Haus, Infineon Technologies AG, Mesmic Corporation, NXP Semiconductors, and Robert Bosch GmbH. Major vendors are based in countries from the European Union and Asia Pacific region to cater to an ever-increasing need for such sensing devices from the growing automotive and consumer electronic industry. Manufacturers resort to mergers, alliances, and vertical integration to streamline the process of procurement and drive profitability. Download the full report: https://www.reportbuyer.com/product/3863154/ About Reportbuyer Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers http://www.reportbuyer.com For more information: Sarah Smith Research Advisor at Reportbuyer.com Email: [email protected] Tel: +44 208 816 85 48 Website: www.reportbuyer.com To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/magnetic-sensors-market-analysis-by-technology-hall-effect-sensing-amr-gmr-by-application-automotive-consumer-electronics-industrial-and-segment-forecasts-to-2022-300297468.html SOURCE ReportBuyer |