Magnetoresistance Sensor Market Size to 2027
Author : Akshay Rathore | Published On : 23 Jun 2022
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.
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 NV(Netherlands), Infineon Technologies AG (Germany), Memsic Inc.(US), and Robert Bosch GmbH (Germany).
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The global market for magnetoresistance sensor 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.