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Magnetometer Sensor Market is estimated to grow at a CAGR of 7.5% from 2022 to 2031
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Advancements in Testing Methods Boost R&D in 3D Magnetic Sensors
Use of magnetic sensors in the mixed reality market and industrial, medical, and automotive sectors has been rising significantly for the last few years. Magnetometer sensors are utilized to monitor diverse operating conditions while performing test and measurement tasks. Thus, advancements in testing methods are expected to boost development of sensors for test and measurement applications. This, in turn, is expected to fuel the global magnetometer sensor market.
Magnetic sensor market manufacturers are focused on R&D in 3D magnetic sensors in order to enhance their market share. Infineon Technologies AG has developed products based on 3D magnetic sensors. The TLI493D-W2BW XENSIV 3D magnetic sensor combines high-accuracy magnetic field measurements with an extremely small footprint and extremely low power consumption (minimum 7 nA).
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Magnetometer sensors are also utilized to detect both linear magnetic and angular movements. 3D magnetic sensors provide high accuracy for several parameters such as pressure, proximity, position, fluid flow, etc. These sensors possess several advantageous properties, including high sensitivity, high linearity, large field range, and low power consumption. 3D magnetometer sensors are also more convenient to use due to their design flexibility and programming. These sensors deliver measurement accuracy and performance needed to comply with stringent requirements of safety-critical automotive and other applications.
Development and Launch of Novel Products to Propel Magnetometer Sensor Market
Rise in adoption of magnetometer sensors in the automotive industry is projected to drive the market during the forecast period. Rapid progress in the Advanced Driver Assistance System (ADAS) and other autonomous driving systems has led to several challenges related to performance and functional safety of vehicles. Magnetic sensors address these challenges, as these sensors provide measurement accuracy and performance required for safety-critical automotive applications such as steering, braking, and transmission systems.
The future of magnetometer sensor market relies on investments in technologies such as 3D sensing, tunnel magnetoresistance, and giant magnetoresistance. Players in the market are focused on R&D to cater to the needs of various end-use markets and to expand their magnetic sensor product portfolio.
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Trends in the magnetometer sensor market also indicate toward a rise in R&D in analog bridge magnetic sensors. For instance, in June 2019, NVE Corporation launched the ALT025 Tunneling Magnetoresistance (TMR) analog bridge magnetic sensor with a large signal and a wide linear range. This product is used in various applications such as motion, speed, position control, noncontact current sensing, mechatronics, and robotics.
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Extensive Usage of Vector Magnetometers in Automotive, Geographical Surveys, Space Explorations
In terms of measurement type, the global magnetometer sensor market has been divided into scalar magnetometers and vector magnetometers. The vector magnetometers segment held a major share of 61.4% of the global market in 2021. The segment is expected to maintain the status quo and rise at a growth rate of 8.0% during the forecast period. Vector magnetometers detect the flux density value in a specified direction in a three-dimensional space. These magnetometers are ideal for investigating not only the technical magnetization process but also the magnetocrystalline anisotropy in a single crystal specimen. This is due to their ability to measure three components of the magnetization vector concurrently, utilizing three pairs of pick-up coil systems.
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