Yole Group highlights a significant $1 billion investment surge over two years in TMR technology.
OUTLINE
The magnetic sensor market is expected to reach US$3.7 billion in 2029, with an estimated 4% CAGR from 2023 to 2029.
Allegro Microsystems and TDK: One leads in revenue, the other in volume.
A significant US$1 billion investment surge from players like Allegro, TDK, Bosch, LEM etc., leveraging the technology’s sensitivity, bandwidth, and low power consumption to sense position and current.
Magnetic sensors find widespread application across automotive, mobility, industrial, energy, medical, and consumer sectors. Their versatility has led to their adoption in various fields, propelling the market to a value of US$2.9 billion in 2023. According to Yole Group, the market will grow to US$3.7 billion by 2029, with a CAGR of 4% between 2023 and 2029.
Pierre Delbos,
Technology & Market Analyst, MEMS & Sensing at Yole Group
“The automotive & mobility segment significantly dominates the market with sales of more than US$2 billion by 2029. This segment is driven by important shifts such as vehicle electrification and sensor integration. Conversely, consumer applications lead in terms of volume. At Yole Group, we anticipate a nearly US$600 million market by 2029, also growing at a 4% CAGR between 2023 and 2029”.
The evolving landscape of magnetic sensor applications extends to the industrial & energy and medical sectors. By 2029, these sectors are expected to reach US$830 million and US$30 million, respectively. Factors such as the proliferation of DC-charging stations with integrated current sensors due to vehicle electrification, the demand for position sensors, switches, and latches driven by Industry 4.0, and the potential implementation of predictive maintenance using current sensors contribute to the promising outlook in these sectors.
In this context, Yole Group releases its market & technology report Magnetic Sensors 2024. In this report, the company provides a comprehensive overview of magnetic sensor applications and details on key magnetic sensor market metrics & dynamics. With this new study, Yole Group offers key technical insights into future technology trends and challenges and gives an in-depth understanding of the magnetic sensor value chain, infrastructure, and players. What will the TMR technology market shares be in five years? Who are the key suppliers to watch, and how will the magnetic sensor market evolve? Discover all these answers and more!
Titre du visuel
june 2021
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Additionally, by leveraging their deep understanding of emerging technologies and their impact on the automotive industry, Yole Group offers invaluable insights into the integration of magnetic sensors within electrified vehicles. Their comprehensive analysis not only highlights the increasing role of magnetic sensors in optimizing vehicle performance and efficiency but also sheds light on the evolving automotive landscape driven by electrification trends. Through meticulous automotive teardown track analyses, such as BYD 8-in-1 powertrain controller, Yole Group uncovers the details of sensor implementation, paving the way for enhanced design strategies and technological advancements in the automotive sector. As electrification continues to reshape the automotive industry, Yole Group’s interdisciplinary approach ensures that stakeholders are well-equipped to navigate the complexities of this transformative era.
Yole Group’s MEMS and sensing team invites you to follow the technologies, related devices, applications, and markets on www.yolegroup.com.
In this regard, Yole Group will attend the MEMS & SENSORS TECHNICAL CONGRESS – MSTC 2024 from May 1 to 2 in Los Angeles, CA, USA. More information HERE.
Do not hesitate to ask for a meeting with our experts at Image Sensor Europe: HERE.
Pierre Delbos, Technology & Market Analyst, MEMS & Sensing at Yole Group“The automotive & mobility segment significantly dominates the market with sales of more than US$2 billion by 2029. This segment is driven by important shifts such as vehicle electrification and sensor integration. Conversely, consumer applications lead in terms of volume. At Yole Group, we anticipate a nearly US$600 million market by 2029, also growing at a 4% CAGR between 2023 and 2029”.
