Electrification and sensorization of cars and promising consumer applications will drive the magnetic sensor market to $4.5B in 2027.
- Updated market data and forecasts in US$ and units for the period 2018-2027
- Detailed market breakdown per application, per function and per end-system
- 2021 estimated magnetic sensor stakeholders’ revenue breakdown per end-market and latest released products.
- Updated market trends in Automotive & Mobility, Consumer, and Industrial & Infrastructure
- Key trends at the technology level including Hall, AMR, GMR and TMR and focus on the promising current sensing magnetic sensor function
- Market data and forecasts for 2018-2027 in units, US$ by end-markets, by magnetic sensor functions, by key applications, and by technology, including Hall, AMR, GMR, TMR and others
- Magnetic sensor main trends and market drivers in Automotive & Mobility, Consumer, and Industrial & Infrastructure
- Competitive landscape with player market shares by technology and market, supply chain analysis and market dynamics
- Technology descriptions and comparisons, main trends, and focus on magnetic current sensors
- Provide an understanding of the magnetic sensors business in three end-markets: Automotive & Mobility, Consumer, and Industrial & Infrastructure, with detailed breakdowns per application or end-system.
- Present the main market drivers and their influence on the magnetic sensor business.
- Explore the ecosystem’s development: main players and their portfolios, estimated revenues per end-market and per magnetic sensor function
- Provide in-depth understanding of magnetic sensor technology trends
Table of Contents
Applications / end-systems tracked by Yole Développement 10
Methodologies & Definitions 13
About the Authors 14
What we got right, what we got wrong 16
3-page summary 19
Executive summary 23
- Magnetic sensors
Market forecasts 79
- Magnetic sensor market forecasts by end-market in volume (Bunits)
- Magnetic sensor market forecasts by end-market in revenue ($M)
- 2017 vs. 2022 forecast comparison
- Market forecasts by magnetic sensors functions
- Market Forecasts by Sensor Function and by End-Market
- Market Forecast by application
- Biggest growth opportunities
- Average Selling Prices (ASP)
- Magnetic sensor market growth
Market trends 111
- Automotive & Mobility
- Industrial & Infrastructure
Market Shares and Supply Chain 152
- Players Map 153
- Players positioning by technology and market 154
- Main players’ technology portfolio 155
- New products since 2017
- Overview of the TMR business 161
- Leading players’ presence by sensor function
- Magnetic sensor market shares (revenue and volume shares)
- Magnetic sensor market shares by end-market
- Magnetic sensors supply chain
- Who is supplying who in the eCompass market?
- Magnetic sensors ecosystem development
- US-China trade war
Technology trends 174
- Different technologies
- Magnetic sensor functions
- Focus on magnetic current sensors
- Magnetic sensor market growth
- Market trends summary
- Technology market shares forecasts
- General Conclusions
- What is coming next for magnetic sensors?
About Yole Développement 215
Global mega-trends and promising applications will push the magnetic sensor market to $4.5B in 2027
Despite the worldwide chip shortage and the Covid-19 pandemic, the overall magnetic sensor market is expected to grow from $2.6B in 2021 to $4.5B in 2027 with a 9% compound annual growth rate (CAGR21-27).
- Thanks to global trends like Advanced Driver Assistance Systems (ADAS), electrification and sensorization of cars, we expect the Automotive & Mobility market to reach $3B in 2027 with a 10% CAGR21-27. Switches are used to increase the awareness of cars. Speed and position sensors are used for safety and driving assistance applications. Also magnetic current sensors are used for high voltage and battery-related applications. As such, a promising market lies ahead for magnetic sensors.
- There has recently been interest in wearable devices like smartwatches and True Wireless Stereo (TWS) earbuds. Photography requirements of smartphone users are also growing. This means that there will be a strong demand for switches, position sensors and eCompasses. Hence, the magnetic sensor market for Consumer applications will grow with a 7% CAGR21-27, reaching $912M in 2027.
- The Industrial & Infrastructure market is smaller than the others mentioned previously, with $561M estimated revenue by 2027. However, it is driven by mega-trends like Industry 4.0, autonomous industrial vehicles, and the construction of more charging infrastructure due to car electrification. These mega-trends are creating new targetable markets for magnetic switches, latches, position, and current sensors.
Strong dynamics coming from tenacious players to secure future strategic positioning
The magnetic sensor market has been quite dynamic since 2017. Global mega-trends have forced players to align their strategies with the market.
- The two leaders of the magnetic sensor market are Allegro Microsystems and Infineon. They are head-to-head on market shares by value.
- AKM remains a strong competitor as it is evolving in the consumer market with its eCompass. It is also evolving in the Industrial & Infrastructure market with its position and current sensors.
These market trends mean that stakeholders were very active in investments, partnerships, mergers, acquisitions and fundraising to develop magnetoresistance-derived (xMR) technologies. Sinomags acquired Sensitec, for example. MEMSIC raised about $150M, while TDK and AKM partnered to develop a tunnel MR (TMR) eCompass.
A bright future for xMR sensors
Today, the Hall effect remains the most commonly-used technology in the magnetic sensor market. Hall sensors are cheap, small, and easy to integrate. However, new applications in electric and autonomous vehicles are fostering the demand for anisotropic MR (AMR), giant MR (GMR) and TMR sensors, as they require highly accurate measurements. TMR technology is particularly gaining ground in current and position sensing. Crocus Technology succeeded to integrate TMR sensors monolithically, hence shrinking the form factor, reducing power consumption and overall price of the sensor. Key players in the industry are working on TMR sensors, and we see growing interest in this technology.
Ablic, AceInna, AKM, Allegro Microsystems, Alps Alpine, AMS, Analog Devices, Bosch, Crocus Technology, Diodes, Honeywell, Infineon, Isentek, Melexis, MEMSIC, MultiDimension, Murata, NVE, NXP, PNI, Polar Semiconductor, Rohm,, Sensitec (Sinomags), ST Microelectronics, TDK (TDK Japan and TDK Micronas), TE connectivity, Texas Instruments, Tower Semiconductor, TSMC, Voltafield, Xfab, Yamaha and more
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