Smartphones and automotives boost magnetic sensors
11 December 2013
Frost & Sullivan reports a boom in magnetic sensors, due to the “rapid proliferation” of smartphones and tablets, despite price drops
The analyst finds that the market earned $1.66billion in 2012, which is estimated to increase in 2019 to reach $3.51 billion in 2019.
The reason? Navigation is emerging as a ‘must-have’ feature in smartphones and cellular handsets which has spurred the magnetic sensors market around the world.
“Moreover, the mandatory fitment of magnetic sensors in vehicles due to regulations from the automotive sector has fuelled sale volumes,” said Frost & Sullivan Measurement and Instrumentation senior industry analyst V Sankaranarayanan.
However, manufacturers are reducing prices to penetrate markets such as consumer electronics. To counter, products must move from competing purely on price to non-price factors.
“Manufacturers are investing in technological advancements and the widening of magnetic sensor application areas,” notes Sankaranarayanan. “Magnetic sensors have already evolved greatly in terms of sensitivity, size, packaging and flexibility. Miniaturisation, in particular, will be a common trend in the global magnetic sensors market.”
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