Outlook on the Magnetic Angle Sensor Global Market to 2027 – Featuring Allegro MicroSystems, Alps Alpine and Littelfuse Among Others – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Global Magnetic Angle Sensor Market, By Type, By Range, By Application, By End User, Estimation & Forecast, 2017 – 2027” report has been added to ResearchAndMarkets.com’s offering.
The global magnetic angle sensor market held a market value of USD 798.9 million in 2020 and is estimated to reach USD 1,242.2 million by the year 2027. The market is anticipated to register a CAGR of 6.8% during the forecast period. The market volume in 2020 was estimated to be 607.76 million units.
Magnetic angle sensors are being used extensively in several verticals, such as transportation, aerospace, healthcare, consumer electronics, among others. These sensors aid in proximity detection, position sensing, flow rate sensing, and speed sensing, among others. The high rise of such application is bolstering the growth rate of the market.
Moreover, the automation and robotics industry are growing at a tremendous rate in the recent years. The inclination of stakeholders, including end users, towards sustainable and energy-efficient measures is indirectly driving the demand for the magnetic angle sensors. For instance, In February 2021, Good fellow, expanded their Green Production initiative, which promotes the use of environmentally safe products and processes that conserve energy and natural resources.
On the other hand, the high availability of substitutes curbs the market growth to a certain extent. In addition to that, the limited product offerings of players are also hindering the growth of the magnetic angle sensor market.
Companies Mentioned
- Allegro MicroSystems
- Alps Alpine
- AMS AG
- Crocus Technology
- Mouser Electronics
- Honeywell International
- Infineon Technologies AG
- Littelfuse Inc.
- MultiDimension Technology(MDT)
- Melexis
- NVE Corporation
- Renesas Electronics Corporation
- Robert Bosch GmbH
- Sensitec GmbH
- TDK Corporation
- Texas Instruments Incorporated
- Sensor Solutions
Growth Influencers:
Growing Demand for Magnetic Angle Sensors in Various End-Use Applications
Magnetic angle sensors are highly standardized and specialized for use in industrial, automotive, and consumer electronics field. These sensors can substitute mechanical switches, knobs, and buttons in smart homes as well as consumer electronic devices, including washing machines, refrigerators, and toys. Such sensors can enhance the functioning of electronic equipment, making it less susceptible to failure by friction and wear and tear, which is why it is more durable and reliable in comparison to mechanical products with analogous functions. Moreover, the space and weight advantages of these sensors saves material and transportation costs from the factory to consumers, making it more preferred among appliance manufactures.
Growing Demand from Automation and Robotics Industry
The magnetic angle sensors, especially, position sensor ICs, are a perfect solution to offer precision angle measurements in the robot joints. These sensors play a prominent role in facilitating the next generation of autonomous robots to possess fine joint motor control and similar human-like limb movement. The factor that increases the preference rate of magnetic angle sensor, in comparison to the conventional rotational measurement techniques, is the fact that it is low power and low-cost alternative. It also offers a high-speed refresh rate, that is sought by many end users. Thus, the increasing demand from automation and robotics industry pushes the market growth of the magnetic angle sensors market.
The global magnetic angle sensor market report provides insights on the below pointers:
- Market Penetration: Provides comprehensive information on the market offered by the prominent players
- Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
- Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
- Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global Magnetic angle sensor market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
- Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
- Pricing Analysis: Pricing analysis of various metals and other components used in the manufacturing of magnetic angle sensors
- Manufacturing Cost Analysis: Cost-share of various components in magnetic angle sensors, cost analysis of magnetic angle sensor, unit cost analysis of magnetic angle sensor
The global magnetic angle sensor market report answers questions such as:
- What is the market size and forecast of the global magnetic angle sensor market?
- What are the inhibiting factors and impact of COVID-19 on the global magnetic angle sensor market during the assessment period?
- Which are the products/segments/applications/areas to invest in over the assessment period in the global magnetic angle sensor market?
- What is the competitive strategic window for opportunities in the global magnetic angle sensor market?
- What are the technology trends and regulatory frameworks in the global magnetic angle sensor market?
- What is the market share of the leading players in the global magnetic angle sensor market?
- What modes and strategic moves are considered favorable for entering the global magnetic angle sensor market?
For more information about this report visit https://www.researchandmarkets.com/r/8ez9ne
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