PUBLISHER: The Business Research Company | PRODUCT CODE: 1670794
PUBLISHER: The Business Research Company | PRODUCT CODE: 1670794
On-board magnetic sensors are magnetic sensors that are installed and tested on a circuit board. Functioning as transducers, these sensors convert variations in magnetic fields into electrical impulses, which are utilized to measure and identify changes in the magnetic field. On-board magnetic sensors are capable of detecting magnetic fields to provide precise measurements of direction, orientation, and position.
The primary categories of on-board magnetic sensors include hall effect sensors, squid (superconducting quantum interference device) sensors, magneto resistive sensors, and others. Hall effect sensors, a specific type within this range, have the capability to ascertain both the direction and strength of a magnetic field generated by electromagnets or permanent magnets. Their output adjusts proportionally to the power of the measured magnetic field. These sensors come in variants suitable for low-field (<1 microgauss), earth field (1 microgauss to 10 gauss), and bias magnetic field (>10 gauss) applications. They find application in diverse industries such as automotive, healthcare, consumer electronics, aerospace and defense, industrial, and more.
The on-board magnetic sensors research report is one of a series of new reports from The Business Research Company that provides on-board magnetic sensors market statistics, including the on-board magnetic sensors industry's global market size, regional shares, competitors with on-board magnetic sensors market share, detailed on-board magnetic sensors market segments, market trends and opportunities, and any further data you may need to thrive in the on-board magnetic sensors industry. The on-board magnetic sensors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The on-board magnetic sensor market size has grown strongly in recent years. It will grow from $1.57 billion in 2024 to $1.7 billion in 2025 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to consumer electronics demand, industrial automation, miniaturization and cost reduction, R&D investments, and renewable energy
The on-board magnetic sensor market size is expected to see strong growth in the next few years. It will grow to $2.35 billion in 2029 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to the increasing adoption of 5g and connectivity, smart infrastructure, AI and machine learning, augmented reality (AR), and virtual reality (VR). Major trends in the forecast period include technological advancements, mems-based magnetic sensors, automotive safety systems enhancement, integration with other sensors, and energy-efficient sensors.
The onboard magnetic sensors market is poised for growth, driven by the increasing demand for consumer electronic devices. Consumer electronic devices, designed for regular use by end-users, utilize onboard magnetic sensors for tasks such as resolving speed, direction, alignment, and rotational positions. The demand for consumer electronic devices is evident in the UK, where smartphone numbers reached 71.8 million in 2022, reflecting a 3.8% increase over 2021, according to Uswitch Limited. Projections suggest that by 2025, around 95% of the UK's population, or approximately 65 million people, will own smartphones. This surge in consumer electronic device adoption fuels the growth of the onboard magnetic sensors market.
The expansion of the automotive industry plays a pivotal role in driving the onboard magnetic sensor market forward. Onboard magnetic sensors find applications in the automotive sector for tasks such as detecting the position, speed, and direction of components due to their accuracy and reliability in measuring magnetic fields. The Society of Motor Manufacturers and Traders Limited projects a significant growth in total car manufacturing, reaching 751,422 units in 2023, a 16.70% increase from 2022's 643,755 units. This robust growth in the automotive industry contributes to the overall expansion of the onboard magnetic sensor market.
Technological advancements stand out as a key trend in the onboard magnetic sensor market, with major companies embracing new technologies to maintain their market positions. Allegro MicroSystems Inc., a US-based technology company, exemplifies this trend by launching A33110 and A33115, magnetic position sensors utilizing vertical Hall Technology (VHT) and cutting-edge tunneling magnetoresistance (TMR) technology. This innovative technology combines precision with redundancy for safety-critical systems, using TMR and vertical Hall components.
Next-generation solutions like tunnel-magnetoresistance (TMR) angle sensors are a focal point for major companies in the onboard magnetic sensor market. These sensors provide higher precision, reliability, and efficiency in sensor technology. TDK Corporation, a US-based provider of electronic solutions, introduced the TAS4240 TMR-based angle sensor for automotive and industrial applications in July 2022. The TAS4240, in a compact TSSOP8 package, offers two redundant analog single-ended SIN or COS outputs, enabling precise angle measurements for applications demanding high performance and limited space.
In November 2023, Allegro MicroSystems Inc. acquired Crocus Technology for $420 million. This acquisition accelerates Allegro's TMR roadmap, strengthening its position in the magnetic sensing market. Allegro anticipates becoming a leading TMR semiconductor company, expanding TMR technology utilization across key growth sectors such as e-mobility, clean energy, and automation. Crocus Technology, a US-based provider of advanced magnetic sensor products with TMR technology, complements Allegro's commitment to innovation in magnetic sensing.
Major companies operating in the on-board magnetic sensor market include Honeywell International Inc., Asahi Kasei Microdevices Corporation, Texas Instruments Incorporated, Infineon Technologies AG, TE Connectivity Ltd., STMicroelectronics NV, TDK Corporation, Murata Manufacturing Co. Ltd., NXP Semiconductors N.V., Analog Devices Inc., Alps Electric Co Ltd., ams OSRAM AG, Littelfuse Inc., Diodes Incorporated, Sanken Electric Co Ltd., Melexis NV, Allegro Microsystems Inc., Pepperl+Fuchs GmbH, Macome Corporation, ABLIC Inc., MEMSIC Semiconductor Co. Ltd., MikroElektronika spol. S r. o, SparkFun Electronics Inc., Senseonics Holdings Inc., Sensitec GmbH
Asia-Pacific was the largest region in the on-board magnetic sensors market in 2024. The regions covered in the on-board magnetic sensor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the on-board magnetic sensor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The on-board magnetic sensors market consists of sales of fluxgate magnetometers and magnetometer arrays. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
On-Board Magnetic Sensor Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on on-board magnetic sensor market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for on-board magnetic sensor ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The on-board magnetic sensor market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.