While the applications of hall-effect sensors continue to expand at an impressive pace, the automotive sector is likely to provide a considerable boost to the overall growth of the hall-effect sensors market. The growing demand for hall-effect sensors to develop automotive fuel level indicators is likely to provide a massive boost to the overall market for hall-effect sensors during the forecast period. In addition, hall-effect sensors are increasingly being used to time and assess the speed of various rotating components, such as shafts and wheels– another factor that is expected to boost the overall growth of the global hall-effect sensors market during the assessment period.
Hall-effect sensors are also deployed in different Tachometers that are primarily used to measure various parameters, including speed of the vehicle and rotation per minute (RPM). Technological advancements coupled with increasing interest in hall-effect sensors within the automotive sector are projected to bolster the overall growth of the global hall-effect sensors market.
In the current hall-effect sensors market landscape, market players are increasingly focusing on expanding their market share by launching new products and leveraging technical expertise of other competitors and forge strategic alliances to gain a competitive edge in the current market landscape. For instance, in June 2024, CERN Partner and Paragraf announced that both companies are entering a partnership to develop a new hall-effect sensor. While strategic partnerships are expected to grow in the upcoming years, product launch is likely to remain the most impactful growth strategy. In April 2019, TDK launched a novel 3D Hall Effect position sensor– a sensor that is increasingly gaining traction for autonomous driving applications.
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The outbreak of the novel COVID-19 pandemic has played an imperative role in disrupting the growth of several core industrial sectors, including automotive, consumer electronics, and telecommunications. The demand from automotive and consumer electronics sectors is projected to decline in 2024, due to stringent lockdown, trade, and transportation restrictions. In the COVID-19 era, the demand for touchless hall-effect sensors is on the rise across various industries– a factor that is likely to direct the hall-effect sensors market toward the path of recovery during the COVID-19 pandemic.
Hall-effect sensor detects a South Pole with the front side of the sensor. This means that the other side of the sensor will detect a North Pole. Sensors are placed alternately in the tool. In the event of external and strong magnetic fields in the surroundings of the hall-effect sensors, it might cause inconsistency in the results required. In devices embedded with hall-effect sensors, every single sensor of these devices detects a magnetic field in order to give an output signal. If a magnet is accidentally placed wrong on the rotor, then the sensor is unable to detect a magnetic field as the front of the sensor is facing the North Pole of the magnet (or the back side of the sensor is facing the South Pole of the magnet).
Hall-effect Sensors Market: Prominent Regions
The hall-effect sensors market in North America is expected to be expand during the forecast period, owing to the presence of key market players, technological advancements, and growth of consumer electronics and industrial automation in the region. The hall-effect sensors market in Europe is projected to be witness favorable growth during the forecast period, as rise in industrial activities and expansion of the automotive sector in the region are significant. The Asia Pacific hall-effect sensors market is likely to be expand during the forecast period, owing to the presence of a large number of players designing and producing hall-effect sensors.
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Hall-effect Sensors Market: Key Players
Key players operating in the global hall-effect sensors market are ABB, Allegro MicroSystems, LLC, Asahi Kasei Microdevice Corporation, Broadcom, Honeywell International Inc., Infineon Technologies AG, Kohshin Electric Corporation, LEM Holding SA, Melexis NV, STMicroelectronics, and TDK Corporation.
