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Technology and the growing number of magnetic sensor applications are causing intriguing advances in the on-board magnetic sensor industry. The need for magnetic sensors in cars is an example. These sensors are crucial to many automobile applications, including ADAS, ESC, navigation, and others. Due to advances in autonomous cars and the popularity of electric vehicles (EVs), magnetic sensors on autonomous vehicles are in demand. These sensors are essential for precise component placement, detection, and control in high-tech automotive systems.
Another major advancement in vehicle on-board magnetic sensors is sensor component size reduction. Magnetic sensors are being developed to be smaller and more compact while improving performance. This is done for space-constrained applications. Miniaturization is popular in consumer electronics. Tablets, smartphones, and wearables have magnetic sensors. These sensors operate compass devices, gesture recognition, and gaming controllers. Consumer electronics manufacturers want to make smaller, lighter, and more sensor-rich products. This tendency supports that goal.
On-board magnetic sensors are being used in many industries as IoT applications increase. These sensors are used in IoT devices in factories, hospitals, and smart homes. Smart house applications include door and window monitoring using internal magnetic sensors. Industry uses them to detect and regulate equipment location. On-board magnetic sensors are used in many healthcare applications, including medical equipment tracking and patient positioning. This trend shows how the IoT ecosystem is growing increasingly reliant on trustworthy sensor technologies.
Aerospace and military developments also affect the on-board magnetic sensor market. Satellite, navigation, and avionics systems use magnetic sensors. Military applications including missile guidance, surveillance, and electronic warfare need on-board magnetic sensors. Due to technological advances in the aerospace and defense sectors, high-performance on-board magnetic sensors with enhanced sensitivity and accuracy will be needed.
As magnetoresistive sensor technology advances, the market for on-board magnetic sensors changes. Magnetoresistive sensors are ideal for precise applications due to their higher sensitivity and endurance than ordinary magnetic sensors. Anasotropic magnetoresistance (AMR) and giant magnetoresistance (GMR) sensors have made on-board magnetic sensors more effective. This idea follows the industrial trend toward better, faster sensing devices.
On-board magnetic sensors are popular in the auto aftermarket for adding modern navigation and safety systems to vintage cars. Sensors are also utilized to install systems. Customers add aftermarket magnetic sensors for parking assistance, blind spot monitoring, and accident avoidance. The need for more convenient and secure features in automobiles is driving this development.
On-Board Magnetic Sensor Market Highlights:
Global On-Board Magnetic Sensor Market Overview:
On-Board Magnetic Sensor Market Size was valued at USD 1.62 Billion in 2023. The On-Board Magnetic Sensor industry is projected to grow from USD 1.75608 Billion in 2024 to USD 3.09 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.32% during the forecast period (2024 - 2032). Surging demand for electronic consumer goods globally, rising activities in the automotive bolster, and growing adoption of magnetic sensors in the navigation sector due to their position detection and proximity switching capabilities are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
On-Board Magnetic Sensor Market Trends
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Growth of the consumer electronics sector is driving the market growth
Market CAGR for on-board magnetic sensors is being driven by the growing consumer electronics sector owing to the growth of laptops, tablets and other electronic gadgets largely for business needs, work-from-home scenarios, online classes, and gaming sectors are accelerating the market growth. Due to the magnetic sensors, smartphones are equipped with geophysical sensor technology for geophysical data acquisition. In addition, smartphones are equipped with multiple integrated sensors such as cameras, global positioning system receivers and others. According to Intelligence Node, the number of smartphone users in the United States crossed 273 million in 2021, and smartphone shipments reached 169 million units in 2021 globally. In many countries such as UAE, the US and others, consumers are increasingly concerned about long-term growth in personnel wealth. This factor results in low-density living and an increasing volume of households, thereby leading to the demand for consumer electronics as consumers are using smartphones, television, and personal computers. Furthermore, companies such as Microsoft, Samsung and others have been investing heavily in acquisitions, expansion and R&D for advancements in consumer electronics in these countries such as Mexico and the U.S.
Leading on-board magnetic sensors market players adopt necessary steps to enhance accuracy, overall performance, and wide operating range of on-board magnetic sensors. For instance, in September 2019, Asahi Kasei Microdevices Corp., a manufacturer of advanced sensing devices based on compound semiconductor technology, launched AK09940, a general-purpose, digital output, tri-axis magnetic sensor IC. It provides ultra-low noise of 40nT RMS and ultra-low power consumption of 4nA @100Hz. The magnetic sensor is based on a tri-axis electronic compass sensing solution, which can increase magnetic 6-DOF position tracking accuracy for wearable devices. AK09940 is used in AR-VR controller devices, magnetic particle testers, and metal contamination detection that can be noticed even if the sensor is concealed behind objects.
On-board magnetic sensors allow contactless, wear-free measurement of mechanical quantities in automobiles, such as angle of rotation and angular speed. They offer precise angular position measurements up to a wide range of 3600. In addition, these sensors are also used in industrial applications such as current measurement in AC-DC converters, overcurrent fault detection, and battery monitoring driving the on-board magnetic sensor market revenue.
On-Board Magnetic Sensor Market Segment Insights:
On-Board Magnetic Sensor Type Insights
The On-Board Magnetic Sensor Market segmentation, based on type, includes half effect sensors, magnetoresistive sensors, squid sensors, and others. The half-effect sensor segment dominated the market, accounting for 35% of market revenue (0.57 Billion). In developing economies, category growth is driven by the high utilization of hall effect technology-based sensors in various automotive applications in position sensing applications. However, magneto-resistive sensors are the fastest-growing category due to having a broad range of operating and advanced use of sensors for noticing magnetic field strength.
On-Board Magnetic Sensor Magnetic Density Insights
The On-Board Magnetic Sensor Market segmentation, based on magnetic density, includes < 1 microgauss (low-field sensor), microgauss to 10 gauss (earth field sensor), and > 10 gauss (bias magnetic field sensor). The > 10 gauss (bias magnetic field sensor) category generated the most income owing to increased use in automation equipment, conveyors, and other industrial applications. However, microgauss to 10 gauss (earth field sensor) is the fastest-growing category due to its better sensitivity and resolution.
Figure 1: On-Board Magnetic Sensor Market, by Magnetic Density, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
On-Board Magnetic Sensor Application Insights
The On-Board Magnetic Sensor Market segmentation, based on application, includes speed sensing, detection/NDT, position sensing, and navigation & electronic compass. The navigation & electronic compass segment dominated the market, accounting for major market revenue. In developing economies, category growth as these sensors are used in various devices to specifically monitor the local position and direction of significant objects, such as the pilot's helmet. However, position sensing is the fastest-growing category due to the growing adoption of integrated management systems in consumer electronics gadgets such as smartphones and tablets.
On-Board Magnetic Sensor Industry Verticals Insights
The On-Board Magnetic Sensor Market segmentation, based on industry verticals, includes healthcare, automotive, consumer electronics, aerospace & defense, industrial, and others. The automotive category generated the most income owing (70.4%) to the rising need for position sensing in steering wheel position, throttle controlling, automatic gear selection, and managing vehicle stability. However, aerospace & defense is the fastest-growing category due to the growing demand for complex development and production processes.
On-Board Magnetic Sensor Regional Insights
By region, the study delivers market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American on-board magnetic sensor market will dominate, due to the increased use of applications, such as anti-braking systems (ABS) and anti-locking systems, where magnetic sensors are widely utilized will boost the market growth in this region. Further, the US on-board magnetic sensor market held the largest market share, and the Canadian on-board magnetic sensor market was the fastest growing market in the North American region.
Further, the key countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: On-Board Magnetic Sensor Market SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's on-board magnetic sensor market accounts for the second-largest market share due to the growth of the automotive industry in this region. Further, the German on-board magnetic sensor market held the largest market share, and the UK on-board magnetic sensor market was the fastest growing market in the European region.
The Asia-Pacific on-board magnetic sensor market is expected to grow at the fastest CAGR from 2024 to 2032. This is due to the growth of consumer electronics, especially in emerging countries such as India and China, which will boost regional growth. Moreover, China’s on-board magnetic sensor market held the largest market share, and the Indian on-board magnetic sensor market was the fastest growing market in the Asia-Pacific region.
On-Board Magnetic Sensor Key Market Players & Competitive Insights
Leading market players are supporting heavily in research and development to extend their product lines, which will help the on-board magnetic Sensor market grow even more. Market participants are also undertaking numerous strategic activities to expand their footprint globally, with important market developments including unique product launches, mergers and acquisitions, higher investments, contractual agreements, and collaboration with other organizations. To enhance and survive in a more competitive and rising market climate, the on-board magnetic sensor industry must offer cost-effective items.
Manufacturing locally to decrease operational costs is one of the major business tactics manufacturers use in the global on-board magnetic sensor industry to benefit clients and increase the market sector. Major players in the on-board magnetic sensor market, including Asahi Kasei Microdevices Corporation (Japan), Austria Mikro Systeme (Austria), HONEYWELL INTERNATIONAL INC. (US), Infineon Technologies AG (Germany), Kohshin Electric (Japan), and others, are attempting to enhance market demand by investing in research and development operations.
Infineon Technologies AG is a semiconductor solutions provider. The company develops, designs, manufactures, and markets application-specific ICs. It offers microcontrollers, radio frequencies, sensors, interfaces, and transistor products. The company's products find application in diverse areas, including automotive, industrial power control, power management, consumer electronics, computing and data storage, switches and routers, sensing solutions, and security in IoT applications. In June 2019, Infineon Technologies AG expanded its sensor portfolio with a new AMR-based angle sensor aimed at providing high accuracy in low magnetic fields. The XENSIV TLE109A16 product line addresses the need for precise, fast, and cost-efficient angle measurement at one of the high functional safety levels in automotive and industrial applications.
Variohm Holdings Ltd. operates as a holding company. The Company, through its subsidiaries, offers position, pressure, and temperature sensors. Variohm Holdings designs develops, and delivers a broad range of sensor solutions. In November 2020, Variohm Group expanded by acquiring magnetic encoder specialist Phoenix America. Phoenix America is a leading magnetic encoder and magnetic sensor solutions specialist.
Key Companies in the On-Board Magnetic Sensor market include
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Asahi Kasei Microdevices Corporation (Japan)
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Austria Mikro Systeme (Austria)
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HONEYWELL INTERNATIONAL INC. (US)
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Infineon Technologies AG (Germany)
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Kohshin Electric (Japan)
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Melexis NV (Belgium)
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Murata Manufacturing Co., Ltd. (Japan)
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Sensitec GmbH (Germany)
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TE Connectivity (Switzerland)
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Austria Mikro Systeme (AMS) AG (Austria)
On-Board Magnetic Sensor Industry Developments
November 2019: Allegro MicroSystems launched the ATS17051, one of the first gear tooth sensor ICs designed to provide an incremental position for electric vehicle traction motors operating up to 30k RPM. The device addresses the engineers' traction motor challenges, which include vibration at startup and running mode, high rotational speed, mechanical space constraints, high operating temperatures, and ISO 26262 safety requirements.
On-Board Magnetic Sensor Market Segmentation:
On-Board Magnetic Sensor Type Outlook
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Half Effect Sensor
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Magneto Resistive Sensors
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Squid Sensors
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Others
On-Board Magnetic Sensor Magnetic Density Outlook
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< 1 Microgauss (Low-Field Sensor)
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Microgauss to 10 Gauss (Earth Field Sensor)
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> 10 Gauss (Bias Magnetic Field Sensor)
On-Board Magnetic Sensor Application Outlook
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Speed Sensing
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Detection/NDT
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Position Sensing
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Navigation & Electronic Compass
On-Board Magnetic Sensor Industry Verticals Outlook
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Healthcare
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Automotive
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Consumer Electronics
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Aerospace & Defense
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Industrial
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Others
On-Board Magnetic Sensor Regional Outlook
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North America
- US
- Canada
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Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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