Magnetic Angle Sensor Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2027

The global Magnetic Angle Sensor Market is estimated to witness a rise in revenue from US$ 837.1 Mn in 2021 to US$ 1,242.2 Mn by 2027. The market is registering growth at a CAGR of 6.8% over the forecast period 2022-2027. In terms of volume, the market is registering a CAGR of 5.8% during the projection period. Magnetic angle sensors detect the orientation of an applied magnetic field by measuring sine and cosine angle components with monolithically integrated magnetoresistive elements. These sensors aid in proximity detection, position sensing, flow rate sensing, and speed sensing among others. Magnetic angle sensors are being used extensively in several industry verticals, such as transportation, aerospace & defense, healthcare, and consumer electronics among others.

The market is majorly driven by various growth factors such as growing demand for magnetic angle sensors in various end-use applications and rising demand from the automation and robotics industry. Angular position sensors are used, wherever a rotational movement is detected in the vehicle such as measurement of the steering angle or the throttle position, headlamp leveling, and vehicle level measurement. Magnetic angle sensors are highly standardized and specialized for use in industrial, automotive, and consumer electronics fields. Furthermore, the increasing trend of digitalization, automation, and robotics in the manufacturing processes will foster the overall growth of the magnetic angle sensors market over the forecast period. However, the availability of alternative products and limited product portfolios will hinder market growth in the longer run.

Key Insights of the Report: 

• The latest study published by Astute Analytica analyzes the global magnetic angle sensor market for the period of 2017-2027; where historical years are 2017-2020, the base year is 2021, and the forecast period is 2022-2027.
• The research report offers a detailed study of market determinants including market drivers, restraints, opportunities, and trends; along with an attractive presentation in the form of impact analysis to gain a simpler and easy comparison view of all market determinants.
• The research study is a compilation of 15 chapters distributed across 246 pages with 89 tables and 92 figures.
• The market estimates are presented in terms of value (US$ Mn) and volume (Mn Units).
• Along with market estimations, the market study was conducted on the basis of various economic models such as PESTLE and Porter’s five force models.
• Detailed value chain analysis of the industry was conducted. It includes raw material suppliers, magnetic angle sensor manufacturers, distributors, and end-users.
• The competitive dashboard section includes analysis on the basis of Concentration Ratio (CR), based on market size and market presence of key companies.

Global Magnetic Angle Sensor Market Overview

• Based on type, Magnetoresistive sensors hold the fastest CAGR during the forecast period. In the magnetoresistive sensors, the Tunnel Magnetoresistive Sensors (TMR) segment holds the highest CAGR in the global magnetic angle sensor market due to its wide applicability in commercial applications. Tunnel-magnetoresistance (TMR) sensors can be installed in steering columns to improve the accuracy of automated parking systems.
• The range of magnetic angle sensors market is classified into <1 microgauss, 1 microgauss-10 gauss, and >10 gausses. Among these, the range of >10 guess segment holds the highest share in the global magnetic angle sensor market in 2021.
• In terms of application, position sensing has the highest market share in 2021. This is due to the increasing demand for position sensors in automotive. Furthermore, various consumer electronic devices such as wearable electronics, smartphones, gaming consoles, and Augmented Reality & Virtual Reality (AR/ VR) devices are integrated with magnetic position sensors.
• Based on end-users, the transportation industry has the highest share in the magnetic angle sensor market. The surge in demand for safety and navigation features in the automotive industry has increased the usage of magnetic sensors in this industry.
• The Asia Pacific is the highest shareholder region in the global magnetic angle sensor market and is further expected to continue its dominance over the forecast period. China is the highest shareholder country in the APAC magnetic angle sensor market. Significant market share of the Asia Pacific magnetic angle sensor market is attributed to a growing demand for magnetic sensors in cars and consumer electronics in the region.

Competitive Landscape

The key players in the global magnetic angle sensor market are Honeywell International, Infineon Technologies AG, Littelfuse Inc., Renesas Electronics Corporation, Robert Bosch GmbH, and Alps Alpine among others. Through extensive research, it is found that big players have adopted various competitive strategies such as mergers & acquisitions in order to have a stronghold in the stabilized market scenarios. Furthermore, leading companies are expanding their geographical boundaries by acquiring small brands and domestic companies.

Strategies Adopted by Key Market Players

• In March 2021, Allegro MicroSystems, Inc. announced the launch of the A31315 sensor, sensor to the 3DMAG family of rotary and linear magnetic position sensor ICs for automotive and industrial applications.
• In June 2021, Melexis expanded its portfolio of non-contact position sensors, with the addition of two new devices which complement the existing MLX90364/5/6/7 products.
• In January 2021, Renesas Electronics Corporation launched its magnet-free IPS2550 inductive position sensor. Features improved performance and easy customization, as well as total stray field immunity, and reduced weight and form factor.
• In June 2019, NVE Corporation announced the launch of ALT025 Tunneling Magnetoresistance (TMR) analog bridge magnetic sensor with an extraordinary amount of signal and a wide linear range.
• In 2017, TDK's subsidiary TDK-Micronas acquired ASIC specialist ICsense to further grow its sensor business. TDK is expanding its sensor business by completing a lineup of various sensors, in addition to its own pressure, temperature, current and magnetic sensors.

Segmentation Overview

The following are the different segments of the Global Magnetic Angle Sensor Market.

By Type segment of the Global Magnetic Angle Sensor Market is sub-segmented into:

• Hall Effect Sensors
• Magnetoresistive Sensors
• Anisotropic Magnetoresistive Sensors (AMR)
• Giant Magnetoresistive Sensors (GMR)
• Tunnel Magnetoresistive Sensors (TMR)
• Others

By Range segment of the Global Magnetic Angle Sensor Market is sub-segmented into:

• <1 microgauss
• 1 microgauss-10 gauss
• >10 gauss

By Application segment of the Global Magnetic Angle Sensor Market is sub-segmented into:

• Speed Sensing
• Proximity Detection/NDT
• Position Sensing
• Navigation and Electronic compass
• Flow rate Sensing
• Others

By End User segment of the Global Magnetic Angle Sensor Market is sub-segmented into:

• Transportation
• Consumer Electronics
• Healthcare
• Aerospace & Defense
• Industrial
• BFSI
• Others

By Region segment of the Global Magnetic Angle Sensor Market is sub-segmented into:

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Western Europe
    • The UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Western Europe
• Eastern Europe
  • Poland
  • Russia
  • Rest of Eastern Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • ASEAN
  • Rest of Asia Pacific
• Middle East & Africa (MEA)
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA
• South America
  • Argentina
  • Brazil
  • Rest of South America