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The global magnetic sensors market size is expected to reach USD 3.22 billion by 2025LONDON, June 12, 2018 /PRNewswire/ -- Magnetic Sensor Market Size, Share, & Trends Analysis Report By Technology (Hall Effect, AMR, GMR, TMR), By Application (Automotive, Consumer Electronics, Industrial), By Region, And Segment Forecasts, 2018 - 2025 Magnetic sensing devices are integrated into EVs' power systems to monitor auxiliary motor inverters. Some sensing technologies, such as the Hall Effect technology, have been in the market for over two decades and their application base is increasing despite their early maturity. Although Hall Effect is a highly mature technology, continuous improvements and advancements still make it a competitive sensor technology applicable to a wide range of industry verticals. Further Key Findings from the Report Suggest: • Magnetic sensing components are increasingly finding applications in power distribution units (PDUs) due to increasing demand for data centers • In the renewable energy domain, such sensors are being used in wind and solar power plants to provide switching, position and angular sensing, and current sensing • Market incumbents are focusing on using high-quality materials to ensure superior performance, create awareness about performance and sophisticated features, and identify new markets in order to extend their customer base and remain competitive in the market • The market is poised to witness significant growth owing to favorable government regulations encouraging the use of Anti-lock Braking System (ABS) and growing consumer preference for navigation tools, such as GPS, in automobiles • Multinational sensor manufacturers and vendors are focusing on mergers and acquisitions as a part of their strategy to gain a competitive advantage to overcome the challenges of lack of product differentiation and market maturity Download the full report: https://www.reportbuyer.com/product/5399405 About Reportbuyer Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers For more information: Sarah Smith Research Advisor at Reportbuyer.com Email: [email protected] Tel: +1 (718) 213 4904 Website: www.reportbuyer.com View original content:http://www.prnewswire.com/news-releases/the-global-magnetic-sensors-market-size-is-expected-to-reach-usd-3-22-billion-by-2025--300664771.html SOURCE ReportBuyer |