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Magnetic Angle Sensor Market is projected to grow at a CAGR of 6.8% during the forecast period 2021-2027

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.

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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.

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.

Segments Overview:

The global magnetic angle sensor market is segmented into type, range, application, and end user.

By Type
• Hall Effect Sensors
• Magnetoresistive Sensors
o Anisotropic Magnetoresistive Sensors (AMR)
o Giant Magnetoresistive Sensors (GMR)
o Tunnel Magnetoresistive Sensors
• Others
The hall effect sensors segment is held the largest market share during the base year of around 46% owing to its growing adoption. On the basis of magnetoresistive sensors, the tunnel magnetoresistive sensors market volume is projected to cross 12 million unit by 2027.

By Range
• <1 microgauss
• 1 microgauss-10 gauss
• >10 gauss
The >10 gauss segment held the largest share of more than 43%. This segment is estimated to grow steadily due to its use in strong field sources in different applications in the electronic field.

By Applications
• Speed Sensing
• Proximity Detection/NDT
• Position Sensing
• Navigation and Electronic compass
• Flow rate Sensing
• Others
The position sensing segment is anticipated to grow at the largest share of about 30% owing to the rising applications in testing rotary motions. The speed sensing segment is anticipated to grow at the fastest rate of 7.4% due to the rising use of these in speedometers and pitometers.

By End User,
• Transportation
• Consumer Electronics
• Healthcare
• Aerospace & Defense
• Industrial
• BFSI
• Others
The aerospace and defense segment is projected to be the fastest growing with a rate of 8.1% owing to the high demand for magnetic angle sensors in this field. Moreover, the banking, financial services, and insurance (BFSI) segment volume is expected to cross 37 million units by 2027.

Regional Overview

By region, the global magnetic angle sensor market is divided into Europe, North America, Asia Pacific, Middle East & Africa, and South America.
The Asia Pacific region is expected to hold the largest market share of around 34% owing to the increasing automation industry in Asian countries. Moreover, Asia Pacific is one of the largest smartphone manufacturers across the globe, which contributes significantly to the market growth.
The North American market for magnetic angle sensors is anticipated to grow at the rate of 6.4% owing to the rising awareness regarding magnetic angle sensors and its widespread applications. Furthermore, increasing demand for consumer electronics is driving the growth in European region. The Latin American and Middle East and African market is also projected to grow at a considerable rate over the forecast period.

Competitive Landscape

Key players operating in the global magnetic angle sensor market include 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, and Sensor Solutions, among others.

Major 6 players in the market hold approximately 50% of the market share. These market players are investing in collaborations, mergers & acquisitions, and expansions to create a competitive edge in the market. For instance, in November 2019, Allegro MicroSystems launched ATS17051. It a gear tooth sensor ICs which is designed to offer incremental position for electric vehicle traction motors which operate up to 30 thousand RPM.

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Table Of Content

Chapter 1. Research Framework
1.1. Objective
1.2. Product Overview
1.2.1. Market Segmentation
1.2.2. Market & Segment Definitions
1.3. Research Methodology
1.3.1. List of Primary & Secondary Sources
1.3.2. Market Size Estimation
1.3.2.1. Assumption for the Study
1.3.2.2. Data Triangulation

Chapter 2. Executive Summary: Global Magnetic Angle Sensor Market

Chapter 3. Global Magnetic Angle Sensor Market Overview
3.1. Industry Value Chain Analysis
3.1.1. Raw Material Provider
3.1.2. Manufacturer
3.1.3. Distributor
3.1.4. End Users
3.2. Industry Outlook
3.3. PESTLE Analysis
3.4. Porter’s Five Forces Analysis
3.4.1. Bargaining Power of Suppliers
3.4.2. Bargaining Power of Buyers
3.4.3. Threat of Substitutes
3.4.4. Threat of New Entrants
3.4.5. Degree of Competition
3.5. Market Dynamics and Trends
3.5.1. Key Trends
3.5.2. Growth Drivers
3.5.3. Restraints/ Challenges
3.6. Market Growth and Outlook
3.6.1. Market Revenue Estimates and Forecast (US$ Mn), 2017-2027
3.6.2. Market Volume Estimates and Forecast (Mn Units), 2017-2027
3.6.3. Pricing Analysis
3.7. Covid-19 Impact Assessment on Market Growth Trend
3.7.1. Growth Trend Shift Analysis
3.7.2. Industry Best Practices

Chapter 4. Competition Dashboard
4.1. Market Concentration Rate
4.2. Company Market Share Analysis (Value %), 2020
4.3. Competitor Mapping

Chapter 5. Magnetic Angle Sensor Market Analysis- By Type
5.1. Key Insights
5.2. Market Size and Forecast, 2017 – 2027 (US$ Mn and Mn Units)
5.2.1. Hall Effect Sensors
5.2.2. Magnetoresistive Sensors
5.2.2.1. Anisotropic Magnetoresistive Sensors (AMR)
5.2.2.2. Giant Magnetoresistive Sensors (GMR)
5.2.2.3. Tunnel Magnetoresistive Sensors (TMR)
5.2.3. Others

Chapter 6. Magnetic Angle Sensor Market Analysis, By Range
6.1. Key Insights
6.2. Market Size and Forecast, 2017 – 2027 (US$ Mn and Mn Units)
6.2.1. <1 microgauss
6.2.2. 1 microgauss-10 gauss
6.2.3. >10 gauss

Chapter 7. Magnetic Angle Sensor Market Analysis, By Application
7.1. Key Insights
7.2. Market Size and Forecast, 2017 – 2027 (US$ Mn and Mn Units)
7.2.1. Speed Sensing
7.2.2. Proximity Detection/NDT
7.2.3. Position Sensing
7.2.4. Navigation and Electronic compass
7.2.5. Flow rate Sensing
7.2.6. Others

Chapter 8. Magnetic Angle Sensor Market Analysis, By End User
8.1. Key Insights
8.2. Market Size and Forecast, 2017 – 2027 (US$ Mn and Mn Units)
8.2.1. Transportation
8.2.2. Consumer Electronics
8.2.3. Healthcare
8.2.4. Aerospace & Defense
8.2.5. Industrial
8.2.6. BFSI
8.2.7. Others

Chapter 9. Magnetic Angle Sensor Market Analysis, By Region
9.1. Key Insights
9.2. Market Size and Forecast, 2017 – 2027 (US$ Mn and Mn Units)
9.2.1. North America
9.2.1.1. The U.S.
9.2.1.2. Canada
9.2.1.3. Mexico
9.2.2. Europe
9.2.2.1. Western Europe
9.2.2.1.1. The UK
9.2.2.1.2. Germany
9.2.2.1.3. France
9.2.2.1.4. Italy
9.2.2.1.5. Spain
9.2.2.1.6. Rest of Western Europe
9.2.2.2. Eastern Europe
9.2.2.2.1. Poland
9.2.2.2.2. Russia
9.2.2.2.3. Rest of Eastern Europe
9.2.3. Asia Pacific
9.2.3.1. China
9.2.3.2. India
9.2.3.3. Japan
9.2.3.4. Australia & New Zealand
9.2.3.5. ASEAN
9.2.3.6. Rest of Asia Pacific
9.2.4. Middle East & Africa
9.2.4.1. UAE
9.2.4.2. Saudi Arabia
9.2.4.3. South Africa
9.2.4.4. Rest of MEA
9.2.5. South America
9.2.5.1. Argentina
9.2.5.2. Brazil
9.2.5.3. Rest of South America

Chapter 10. North America Magnetic Angle Sensor Market Analysis
10.1. Key Insights
10.2. Market Size and Forecast, 2017 – 2027 (US$ Mn and Mn Units)
10.2.1. By Type
10.2.2. By Range
10.2.3. By Application
10.2.4. By End User
10.2.5. By Country

Chapter 11. Europe Magnetic Angle Sensor Market Analysis
11.1. Key Insights
11.2. Market Size and Forecast, 2017 – 2027 (US$ Mn and Mn Units)
11.2.1. By Type
11.2.2. By Range
11.2.3. By Application
11.2.4. By End User
11.2.5. By Country

Chapter 12. Asia Pacific Magnetic Angle Sensor Market Analysis
12.1. Key Insights
12.2. Market Size and Forecast, 2017 – 2027 (US$ Mn and Mn Units)
12.2.1. By Type
12.2.2. By Range
12.2.3. By Application
12.2.4. By End User
12.2.5. By Country

Chapter 13. Middle East & Africa Magnetic Angle Sensor Market Analysis
13.1. Key Insights
13.2. Market Size and Forecast, 2017 – 2027 (US$ Mn and Mn Units)
13.2.1. By Type
13.2.2. By Range
13.2.3. By Application
13.2.4. By End User
13.2.5. By Country

Chapter 14. South America Magnetic Angle Sensor Market Analysis
14.1. Key Insights
14.2. Market Size and Forecast, 2017 – 2027 (US$ Mn and Mn Units)
14.2.1. By Type
14.2.2. By Range
14.2.3. By Application
14.2.4. By End User
14.2.5. By Country

Chapter 15. Company Profile
15.1. Allegro MicroSystems
15.2. Alps Alpine
15.3. AMS AG
15.4. Crocus Technology
15.5. Mouser Electronics
15.6. Honeywell International
15.7. Infineon Technologies AG
15.8. Littelfuse Inc.
15.9. MultiDimension Technology(MDT)
15.10. Melexis
15.11. NVE Corporation
15.12. Renesas Electronics Corporation
15.13. Robert Bosch GmbH
15.14. Sensitec GmbH
15.15. TDK Corporation
15.16. Texas Instruments Incorporated
15.17. Sensor Solutions

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Updated : 2022-05-23 07:36 GMT+08:00