The rapidly growing demand for silicon magnetic sensors for navigation feature of mobile devices is creating promising opportunities in the silicon magnetic sensors market. Silicon magnetic sensors are suitable for highly complex yet miniature integrated circuits used in mobile devices for seamless transfer of signals. With the ubiquity of smartphones for everyday functioning, of which navigation is significant, this is indirectly creating opportunities in the silicon magnetic sensors market.
The automotive industry is another key end user for silicon magnetic sensors. In fact, in 2014, the automotive sector held the leading share among other key end users of the silicon magnetic sensors market. For automotive components, silicon magnetic sensors is mainly used for safety purpose in the Antilock Breaking System (ABS). This is due to their reliability to keep the breaking system of automobiles in control in the event of an emergency situation. Besides this, measurements of linear angle, seed, and position are some other uses of silicon magnetic sensors for automotive components.
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In addition, silicon magnetic sensors find extensive use in electronics. Electronic compasses, gaming consoles, and computing peripherals heavily depend on silicon magnetic sensors for transmission of signal. Collectively, this extends handsome opportunities in the silicon magnetic sensors market.
Silicon Magnetic Sensors Market: Introduction
- A magnetic field sensor is an entrance transducer that converts a magnetic field into an electronic signal. Integrated semiconductor, notably silicon, magnetic field sensors, are manufactured using integrated circuit technologies. Integrated sensors are being increasingly developed for diverse applications owing to the advantage offered by the integration of the magnetic field sensitive element together with support and signal processing circuitry on the same semiconductor chip
- Magnetic sensors detect moving ferrous metal. The simplest magnetic sensor consists of a wire coiled around a permanent magnet. A ferrous object approaching the sensor changes magnetic flux through the coil, generating a voltage at the coil terminals.
- Magnetic sensors are a good alternative for the detection and measurement of various phenomena because of their easier technology and they can be easily acquired.
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Rise in demand in automotive and healthcare sectors
- Increase in demand for sensors across all industries is a key factor driving the silicon magnetic sensors market. Sensors are vital components of virtually all emerging technologies. Magnetic sensors offer several advantages of low cost, small size, long operating periods, wear-free, contactless operation and contain no moving parts; therefore, demand for magnetic sensors is considerably high.
- Expansion of the automotive industry across the globe is leading to the extensive use of magnetic sensors. Furthermore, the automation industry, medical equipment, consumer electronics, and security devices are also employing magnetic sensors. Consequently, the silicon magnetic sensors market is projected to expand significantly during the forecast period. Development of autonomous vehicles systems that are likely to run safely and be operated and managed without human intervention is estimated to further propel the global magnetic sensors market.
Asia Pacific to Hold Notable Share of Global Market
Asia Pacific held a prominent share of the global silicon magnetic sensor market. Increasing demand for magnetic sensors in automation, government policies, high demand for smart phones, automotive, and expansion of the defense sector are boosting the market of silicon magnetic sensor in the region.
North America and Europe are also estimated to hold notable share of the global market due to advancements in the technology in various sectors such as automotive where fully automated or semi-automated vehicles are expected to be rolled in these regions during the forecast period.
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Key Players Operating in Silicon Magnetic Sensors Market
The magnetic sensors with extensive potential for future applications include Hall devices, magneto-resistors, inductive coils and fluxgates. Key players are expanding their portfolio by penetrating into the various applications of silicon magnetic sensors.
Key players include:
- TE Connectivity.
- Analog Devices
- NXP semiconductors
- Texas Instruments
- ST Microelectronics
- Infineon Technologies AG
- Ams AG
- TDK Corporation
- Allegro MicroSystems, LLC
- Asahi Kasei Corporation
- Honeywell International Inc.