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Press Release / Technology / Magnetoresistance Sensor Market 2019 Size, Segments, Industry Growth and Global Trends by Forecast to 2024

Magnetoresistance Sensor Market 2019 Size, Segments, Industry Growth and Global Trends by Forecast to 2024

By kiran on September 04 2019 | 93 Views

Magnetoresistance Sensor Market Research Report: By Type (Giant, Anisotropic, Tunnel, Thin-Film Magnetoresistance Sensors and others)

Magnetoresistance Sensor Market Highlights:
The Global Magnetoresistance Sensor Market is expected to grow from USD 2,021.9 million in 2018 to USD 3,149.5 Million by 2024, at a CAGR of 7.7% during the forecast period.
The various advantages of magnetoresistance sensor including its affordability, temperature stability, and robustness, is increasingly leading to its deployment in various sectors such as consumer electronics, automotive, aerospace & defense, and biotechnology. These sensors were earlier used in magnetic hard disk drives. However, these find important applications in  consumer electronics and automotive sectors for sensing current, position, speed, and angle along with the earth’s magnetic field in compass applications.
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Major Key Players:
The major players dominating the magnetoresistance sensor Market are AMS (Austria), Murata (Japan), TE Connectivity (Switzerland), Asahi Kasei Micro Devices Corporation (Japan), Honeywell International Inc. (US), Analog Devices (US), NXP Semiconductor N.V.(Netherlands), Infineon Technologies AG (Germany), Memsic Inc.(US), and Robert Bosch GmbH (Germany).
Other prominent players studied for the magnetoresistance sensor market are Diodes Incorporated (US), Magnachip Semiconductor (South Korea), Panasonic (Japan), Allegro Microsystems Inc. (US), Micronas Semiconductor Holdings AG (Switzerland), Melexix NV (Belgium), Sanken Electric Co., Ltd (Japan), among others.
Regional Analysis:
The global market for Magnetoresistance Sensor Market is estimated to grow at a significant rate during the forecast period from 2019 to 2024. The geographical analysis of magnetoresistance sensor market has been conducted for North America, Europe, Asia-Pacific, Middle East and Africa, and Central and South America.
North America accounts for the largest share in the magnetoresistance sensor market due to the  high adoption of these sensors in automotive applications. Growth in the number of automobiles and development of connected cars are leading to the high adoption of magnetoresistance sensors in this region. Automobile manufacturers are increasingly implementing miniature magnetic sensing devices into automobiles in order to provide improved communication capabilities, which is expected to further increase the demand for these sensors over the forecast period. Also, the high adoption of consumer electronics such as smart watches and smart wearables in the region, due to healthcare awareness and rising disposable incomes is expected to increase the growth of the market.
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Segmentation:
The magnetoresistance sensor market has been segmented on the basis of type, application, end user, and region.

On the basis of type, the market has been segmented into giant magnetoresistance sensor, anisotropic magnetoresistance sensor, tunnel magnetoresistance sensor, thin-film magnetoresistance sensors, and others.
By application, the market has been segmented into magnetic field measurement, biomolecular detection, thin-film solar cells, magnetic storage, transistors, three-dimensional measurement, and others.
Based on end user, the market has been segmented into consumer electronics, biotechnology, healthcare, automotive, aerospace and defense, and others.
By region, the market has been segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and Central and South America.

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