Published on : Feb 22, 2016
ALBANY, New York, February 22, 2016: A new report, titled ‘Global MEMS Magnetic Sensors Market 2016-2020,’ is featured on ResearchMoz.us. The report states that the global MEMS magnetic sensors market is predicted to expand at a 19.06% CAGR during the period between 2016 and 2020 owing to the improved efficiency of the automotive industry and low manufacturing cost.
A sensor measures and/or responds to physical changes in the environment and then transforms mechanical signals into electric ones. Magnetic fields are used by magnetic sensors to sense any changes in motion, speed, and direction. MEMS-based magnetic sensors are devices utilized for detecting and measuring magnetic fields. Most MEMS-based magnetic sensors function simply by detecting Lorentz force effects. During this, the voltage change or the resonant frequency is measured optically or electronically for mechanical displacement.
The demand for 3-axis magnetic field sensors for low-cost and low-power applications such as electronic compasses for smartphones is expected to increase in the years to come. For these applications, leading manufacturers prefer Lorentz-force MEMS-based magnetometers over other magnetic sensors including magnetic tunnel junction and anisotropic magnetoresistance.
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The global MEMS magnetic sensors market is segmented on the basis of region and end-user. The global MEMS magnetic sensors market is divided by geography into Europe, the Americas, and Asia Pacific. The entry of new companies in the global MEMS magnetic sensors market is expected to make the market highly competitive. Some of the leading companies operating in the global MEMS magnetic sensors market are Allegro Microsystems, Infineon, Honeywell, Bosch, and Asahi Kasei Microsystems. Some other players expected to contribute massively towards the growth of the global MEMS magnetic sensors market are Melexis, STMicroelectronics, Alps Electric, Yamaha, and Aichi Steel.
The negative effects of temperature on sensor operation are expected to hamper the growth of the global MEMS magnetic sensors market in the years to come. However, the growing adoption of wearable devices is predicted to contribute towards the growth of the global MEMS magnetic sensors market throughout the forecast period. Based on end use, the global MEMS magnetic sensors market is classified into the automotive industry, the surveillance and security sector, the healthcare sector, and the wireless and communication sector.
The global MEMS magnetic sensors market is expected to progress at a rapid pace throughout the forecast period due to factors such as reduced product size and high performance of magnet sensors. The changing government rules and regulations are encouraging energy-efficient applications predicted to boost the global MEMS magnetic sensors market in the coming few years.
Factors such as lengthy design phase, the increasing need for continuous optimization of technology, and operational and functional issues are predicted to hamper the growth of the global MEMS magnetic sensors market in the next few years. However, changing market trends such as the increasing popularity of electronic compasses and the development of indoor navigation are expected to drive the global MEMS magnetic sensors market through the forecast period. With the introduction of new companies, the global MEMS magnetic sensors market is expected to undergo many changes.
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