Global MEMS Magnetic Sensors Market 2016-2020
Overview of the global MEMS magnetic sensors market
Technavio’s market research analyst predicts the global micro-electro-mechanical systems (MEMS) magnetic sensors market to grow at an impressive CAGR of more than 19% by 2020. Since the automotive sector is the largest consumer of MEMS magnetic sensors, the increasing popularity of e-compasses due to their ability to enhance the users' navigation experience will result in its augmented implementation in automobiles during the forecast period. Additionally, its growing application in mobile phones, tablets, and white goods will foster the prospects for growth in this market during the forecast period.
In this market study, analysts have estimated eminent factors, such as the emerging consumer electronics applications of MEMS magnetic sensors, to drive market growth during the forecast period. MEMS magnetic sensors provide solutions based on current sensing, position sensing, angular sensing, and switching. Therefore, these sensors are gaining traction in various consumer applications like cameras, flat panels, printers, and scanners. Furthermore, the advent of technologies such as gesture recognition and controls used in smartphones and gaming consoles will enhance the prospects for growth in this market until 2020.
Geographical segmentation of the MEMS magnetic sensors market
Technavio’s market research analysts have estimated the APAC region to be the largest market for MEMS magnetic sensors during the forecast period. Due to the high economic growth of countries like China, India, and South Korea, the consumption of cars, smartphones, and tablets have increased rapidly. Since MEMS magnetic sensors are incorporated in cars, smartphones, and tablets for their efficient functioning, an increase in the demand for consumer goods will result in the steady growth of this market in APAC during the forecast period.
Competitive landscape and key vendors
The global MEMS magnetic sensors market is highly fragmented owing to the presence of numerous large and small providers. In this market, many OEMs are looking to save space by incorporating miniature components. This growing demand for miniature components will result in the entry of new market vendors, which in turn will further enhance the level of competition until 2020.
Key vendors in the market are -
- Allegro Microsystems
Other prominent vendors in the market include Asahi Kasei Microsystems, Aichi Steel, Diodes, Melexis, MEMSIC, Micronas, Yamaha, Alps Electric, and STMicroelectronics.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global MEMS magnetic sensors market?
- What are the key market trends impacting the growth of the global MEMS magnetic sensors market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the global MEMS magnetic sensors market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the global MEMS magnetic sensors market?
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