Magnetic Sensors Market Strategies and Share 2031
The magnetic sensors market size is projected to reach US$ 9.89 billion by 2031 from US$ 5.58 billion in 2023. The market is expected to register a CAGR of 7.40% during 2023–2031. Increasing demand for hybrid and electrical vehicles is likely to remain a key trend in the market.
Magnetic Sensors Market Analysis
The market has witnessed significant growth in recent years, driven by rising automotive industries, growing government initiatives for the adoption of electric vehicles, and a rise in the demand for consumer electronics. Due to the mounting demand in the automotive sector, the magnetic sensors market is projected to exhibit a robust growth rate throughout the forecast period. Magnetic sensor manufacturers are constantly engaged to provide efficient devices that can be integrated across the automotive industry. For example, in September 2022, ALPS ALPINE CO. LTD unveiled two new products to its product portfolio to support the ongoing electrification of vehicles. These high-precision and high-output magnetic angle sensors were built for automotive applications such as steering angle detection and electronic shifters automotive motors. Thus, magnetic sensor devices for contactless operations and enhanced angular speed and rotation angle measurements drive its demand in the automotive industry. In addition, the increasing investment and R&D activities for developing advanced sensory devices by the manufacturers are one of the prominent factors fueling the market. The manufacturers are focused on building sensors that can be incorporated into the devices with features such as speed, motion detection, and proximity to cater to the automotive industry's demand, propelling the demand for magnetic sensors.
Magnetic Sensors Market Overview
Magnetic sensors are the devices used to detect speed, distance, rotation, position, and angle by converting magnetic data into electrical signals. Electrical circuits process the converted signals. Magnetic sensors became prevalent and used in various applications because of their easy operation and enhanced vibrations, water, and dust tolerance. These are high-frequency magnetic sensors, and the electric resistance and the external load can limit the frequency usage. The built-in magnetic sensors identify iron and create a digital or analog output signal. Hall switches, reed switches, and other magnetic sensors sense the magnetic field of a magnet or electric coil
Magnetic sensors are widely used in various industries such as aerospace, automotive, electronics, medical devices, and others, driving the market. High penetration of advanced, feature-rich smartphones and tablets has augmented the need for advanced sensing components estimated to impact the magnetic sensors market over the forecasted period positively.
With introducing the Industry 4.0 concept in manufacturing facilities, adopting automation for mass customizations is vital in large-scale production in a shorter time. The use of advanced machinery to reduce the downtime of the production process and provide accurate results is propelling the demand for magnetic sensors and fueling the market size.
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Magnetic Sensors Market: Strategic Insights
Market Size Value in US$ 5.2 billion in 2022 Market Size Value by US$ 9.2 billion by 2030 Growth rate CAGR of 7.40% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Magnetic Sensors Market: Strategic Insights
| Market Size Value in | US$ 5.2 billion in 2022 |
| Market Size Value by | US$ 9.2 billion by 2030 |
| Growth rate | CAGR of 7.40% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Magnetic Sensors Market Drivers and Opportunities
Rise in the Demand for Consumer Electronics
The magnetic sensors market growth is directly associated with the growth of the electronic industry. Growing urbanization and rising disposable income worldwide contribute to the consumer electronics market growth. For instance, according to the US Bureau of Economic Analysis, disposable personal income (DPI) in the US increased by 0.5% in February 2023 compared to January 2023. The growth in an individual’s disposable income increases the standard of living and contributes to the strong purchasing power of consumer electronics such as smartphones, refrigerators, and microwaves. This factor propels the country's electronic industry, further driving the market for advanced sensing applications.
Moreover, the rise in government initiatives to boost domestic production output is crucial in driving the electronic industry. According to the Ministry of Electronics & IT in March 2023, the Indian electronics manufacturing industry is expected to reach US$ 300 billion by 2031–2031. Under the National Policy on Electronics 2021 (NPE 2021), special schemes are introduced for large-scale electronics manufacturing. The" Production Linked Incentive Scheme (PLI) for Largescale Electronics Manufacturing," introduced in April 2021, provides a 4–6% incentive to eligible electronic manufacturing companies over their incremental sales year-on-year. In addition, the" Modified Electronics Manufacturing Clusters (EMC 2.0) Scheme" was introduced in April 2021 to provide financial assistance and support to companies planning to open manufacturing facilities in the country. Such initiatives by the government attract global electronic manufacturers to set up units in the country, which leads to increased electronic production and the launch of advanced manufacturing facilities, driving the demand for magnetic sensors. Magnetic sensors are used in consumer electronics, such as exercise equipment, household appliances, digital cameras, and others, further fueling the market growth.
Growing Technological Advancement
Technological advancements play a fundamental role in the growth of the market. The adoption of magnetic sensors to develop advanced sensing devices for electronic control systems in various end-user verticals is driving the demand for magnetic sensors. These systems guarantee enhanced safety, resulting from which magnetic sensors' adoption has observed a huge surge. The advanced sensing elements ensure high reliability and efficiency, enhancing electronic systems' performance in various end-user industries and fostering the market.
Magnetic Sensors Market Report Segmentation Analysis
Key segments that contributed to the derivation of the magnetic sensors market analysis are type, applications, and end-user.
- Based on the type, the magnetic sensors market is segmented into hall effect sensors, magnetoresistive sensors, SQUID sensors, fluxgate sensors, and others. The hall effect sensors segment is anticipated to witness significant growth in the forecasted period.
- Based on application, the market is segmented into speed sensing, detection/NDT, Position sensing, navigation and electronic compass, flow rate sensing, and others. The speed sensing segment is anticipated to witness significant growth in the forecasted period.
- Based on end-user, the market is segmented into RF FEM, transportation, consumer electronics, healthcare, aerospace and defense, industrial, BFSI, and others. The transportation segment is anticipated to witness significant growth in the forecasted period.
Magnetic Sensors Market Share Analysis by Geography
The geographic scope of the magnetic sensors market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
Asia Pacific is anticipated to witness significant growth in the forecasted period. APAC region is one of the fastest growing economies, rapidly adopting magnetic sensors due to their low cost and ruggedness. China and Japan led the market. India and China, with a huge population, generate the demand for magnetic sensors due to the rise in demand for consumer electronics. The ability of magnetic sensors to detect current and angular positions generates demand for various sensing applications in end-user industries such as automotive, industrial, healthcare, and others, further fostering the APAC market growth.
Magnetic Sensors Market Report Scope
Magnetic Sensors Market News and Recent Developments
The magnetic sensors market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the magnetic sensors market are listed below:
- Infineon Technologies AG announced that they have combined its proven expertise in magnetic position sensors with its established linearized tunnel magnetoresistance (TMR) technology to launch the XENSIV™ TLI5590-A6W magnetic position sensor. The sensor comes in a wafer-level package and is well-suited for linear and angular incremental position detection. The device is qualified for industrial and consumer applications according to the JEDEC standard JESD47K and can be used as a replacement for optical encoders and resolvers. It is well suited for positioning lenses for zoom and focus adjustment in cameras. (Source: Infineon Technologies AG, Press Release, 2023)
- Melexis announced that they have expanded its popular MLX9042x series of 3D magnetic position sensing solutions with the MLX90423. This new device blends high accuracy for long strokes (up to 30mm), stray field immunity (SFI) and ISO26262 (supports up to ASIL D system integration). This cost-effective solution is ideal for automotive ADAS applications with space constraints such as braking systems (brake rod). (Source: Melexis, Press Release, 2023)
Magnetic Sensors Market Report Coverage and Deliverables
The “Magnetic Sensors Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Magnetic sensors market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Magnetic sensors market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Magnetic sensors market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the magnetic sensors market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Applications, and End-User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The global magnetic sensors market is estimated to register a CAGR of 7.40% during the forecast period 2023–2031.
Increasing demand for hybrid and electrical vehicles to play a significant role in the global magnetic sensors market in the coming years.
The key players holding majority shares in the global magnetic sensors market are Asahi Kasei Microdevices Corporation, Silicon Austria Labs GmbH, Honeywell International Inc., Infineon Technologies AG, KOHSHIN ELECTRIC CORPORATION, Melexis, Murata Manufacturing Co. Ltd, Sensitec GmbH, Sensoronix, and TE Connectivity.
The global magnetic sensors market is expected to reach US$ 9.89 billion by 2031.
Asia Pacific dominated the magnetic sensors market in 2023.
The rise in the demand for consumer electronics is the major factors that propel the global magnetic sensors market.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Magnetic Sensors Market - By Type
1.3.2 Magnetic Sensors Market - By Applications
1.3.3 Magnetic Sensors Market - By End-User
1.3.4 Magnetic Sensors Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. MAGNETIC SENSORS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. MAGNETIC SENSORS MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. MAGNETIC SENSORS MARKET - GLOBAL MARKET ANALYSIS
6.1. MAGNETIC SENSORS - GLOBAL MARKET OVERVIEW
6.2. MAGNETIC SENSORS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. MAGNETIC SENSORS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. HALL EFFECT SENSORS
7.3.1. Overview
7.3.2. Hall Effect Sensors Market Forecast and Analysis
7.3.3. Hall ICs Market
7.3.3.1. Overview
7.3.3.2. Hall ICs Market Forecast and Analysis
7.3.4. Hall Elements Market
7.3.4.1. Overview
7.3.4.2. Hall Elements Market Forecast and Analysis
7.4. MAGNETORESISTIVE SENSORS
7.4.1. Overview
7.4.2. Magnetoresistive Sensors Market Forecast and Analysis
7.4.3. Anisotropic Magnetoresistive (AMR) Sensors Market
7.4.3.1. Overview
7.4.3.2. Anisotropic Magnetoresistive (AMR) Sensors Market Forecast and Analysis
7.4.4. Giant Magnetoresistive (GMR) Sensors Market
7.4.4.1. Overview
7.4.4.2. Giant Magnetoresistive (GMR) Sensors Market Forecast and Analysis
7.4.5. Tunnel Magnetoresistive (TMR) Sensors Market
7.4.5.1. Overview
7.4.5.2. Tunnel Magnetoresistive (TMR) Sensors Market Forecast and Analysis
7.5. SQUID SENSORS
7.5.1. Overview
7.5.2. SQUID Sensors Market Forecast and Analysis
7.5.3. High-Temperature SQUID Market
7.5.3.1. Overview
7.5.3.2. High-Temperature SQUID Market Forecast and Analysis
7.5.4. Low-Temperature SQUID Market
7.5.4.1. Overview
7.5.4.2. Low-Temperature SQUID Market Forecast and Analysis
7.6. FLUXGATE SENSORS
7.6.1. Overview
7.6.2. Fluxgate Sensors Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. MAGNETIC SENSORS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATIONS
8.1. OVERVIEW
8.2. APPLICATIONS MARKET FORECASTS AND ANALYSIS
8.3. SPEED SENSING
8.3.1. Overview
8.3.2. Speed Sensing Market Forecast and Analysis
8.4. DETECTION/NDT
8.4.1. Overview
8.4.2. Detection/NDT Market Forecast and Analysis
8.5. POSITION SENSING
8.5.1. Overview
8.5.2. Position Sensing Market Forecast and Analysis
8.6. NAVIGATION AND ELECTRONIC COMPASS
8.6.1. Overview
8.6.2. Navigation and Electronic Compass Market Forecast and Analysis
8.7. FLOW RATE SENSING
8.7.1. Overview
8.7.2. Flow Rate Sensing Market Forecast and Analysis
8.8. OTHERS
8.8.1. Overview
8.8.2. Others Market Forecast and Analysis
9. MAGNETIC SENSORS MARKET - REVENUE AND FORECASTS TO 2028 - END-USER
9.1. OVERVIEW
9.2. END-USER MARKET FORECASTS AND ANALYSIS
9.3. RF FEM
9.3.1. Overview
9.3.2. RF FEM Market Forecast and Analysis
9.4. TRANSPORTATION
9.4.1. Overview
9.4.2. Transportation Market Forecast and Analysis
9.5. CONSUMER ELECTRONICS
9.5.1. Overview
9.5.2. Consumer Electronics Market Forecast and Analysis
9.6. HEALTHCARE
9.6.1. Overview
9.6.2. Healthcare Market Forecast and Analysis
9.7. AEROSPACE AND DEFENSE
9.7.1. Overview
9.7.2. Aerospace and Defense Market Forecast and Analysis
9.8. INDUSTRIAL
9.8.1. Overview
9.8.2. Industrial Market Forecast and Analysis
9.9. BFSI
9.9.1. Overview
9.9.2. BFSI Market Forecast and Analysis
9.10. OTHERS
9.10.1. Overview
9.10.2. Others Market Forecast and Analysis
10. MAGNETIC SENSORS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Magnetic Sensors Market Overview
10.1.2 North America Magnetic Sensors Market Forecasts and Analysis
10.1.3 North America Magnetic Sensors Market Forecasts and Analysis - By Type
10.1.4 North America Magnetic Sensors Market Forecasts and Analysis - By Applications
10.1.5 North America Magnetic Sensors Market Forecasts and Analysis - By End-User
10.1.6 North America Magnetic Sensors Market Forecasts and Analysis - By Countries
10.1.6.1 United States Magnetic Sensors Market
10.1.6.1.1 United States Magnetic Sensors Market by Type
10.1.6.1.2 United States Magnetic Sensors Market by Applications
10.1.6.1.3 United States Magnetic Sensors Market by End-User
10.1.6.2 Canada Magnetic Sensors Market
10.1.6.2.1 Canada Magnetic Sensors Market by Type
10.1.6.2.2 Canada Magnetic Sensors Market by Applications
10.1.6.2.3 Canada Magnetic Sensors Market by End-User
10.1.6.3 Mexico Magnetic Sensors Market
10.1.6.3.1 Mexico Magnetic Sensors Market by Type
10.1.6.3.2 Mexico Magnetic Sensors Market by Applications
10.1.6.3.3 Mexico Magnetic Sensors Market by End-User
10.2. EUROPE
10.2.1 Europe Magnetic Sensors Market Overview
10.2.2 Europe Magnetic Sensors Market Forecasts and Analysis
10.2.3 Europe Magnetic Sensors Market Forecasts and Analysis - By Type
10.2.4 Europe Magnetic Sensors Market Forecasts and Analysis - By Applications
10.2.5 Europe Magnetic Sensors Market Forecasts and Analysis - By End-User
10.2.6 Europe Magnetic Sensors Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Magnetic Sensors Market
10.2.6.1.1 Germany Magnetic Sensors Market by Type
10.2.6.1.2 Germany Magnetic Sensors Market by Applications
10.2.6.1.3 Germany Magnetic Sensors Market by End-User
10.2.6.2 France Magnetic Sensors Market
10.2.6.2.1 France Magnetic Sensors Market by Type
10.2.6.2.2 France Magnetic Sensors Market by Applications
10.2.6.2.3 France Magnetic Sensors Market by End-User
10.2.6.3 Italy Magnetic Sensors Market
10.2.6.3.1 Italy Magnetic Sensors Market by Type
10.2.6.3.2 Italy Magnetic Sensors Market by Applications
10.2.6.3.3 Italy Magnetic Sensors Market by End-User
10.2.6.4 United Kingdom Magnetic Sensors Market
10.2.6.4.1 United Kingdom Magnetic Sensors Market by Type
10.2.6.4.2 United Kingdom Magnetic Sensors Market by Applications
10.2.6.4.3 United Kingdom Magnetic Sensors Market by End-User
10.2.6.5 Russia Magnetic Sensors Market
10.2.6.5.1 Russia Magnetic Sensors Market by Type
10.2.6.5.2 Russia Magnetic Sensors Market by Applications
10.2.6.5.3 Russia Magnetic Sensors Market by End-User
10.2.6.6 Rest of Europe Magnetic Sensors Market
10.2.6.6.1 Rest of Europe Magnetic Sensors Market by Type
10.2.6.6.2 Rest of Europe Magnetic Sensors Market by Applications
10.2.6.6.3 Rest of Europe Magnetic Sensors Market by End-User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Magnetic Sensors Market Overview
10.3.2 Asia-Pacific Magnetic Sensors Market Forecasts and Analysis
10.3.3 Asia-Pacific Magnetic Sensors Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Magnetic Sensors Market Forecasts and Analysis - By Applications
10.3.5 Asia-Pacific Magnetic Sensors Market Forecasts and Analysis - By End-User
10.3.6 Asia-Pacific Magnetic Sensors Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Magnetic Sensors Market
10.3.6.1.1 Australia Magnetic Sensors Market by Type
10.3.6.1.2 Australia Magnetic Sensors Market by Applications
10.3.6.1.3 Australia Magnetic Sensors Market by End-User
10.3.6.2 China Magnetic Sensors Market
10.3.6.2.1 China Magnetic Sensors Market by Type
10.3.6.2.2 China Magnetic Sensors Market by Applications
10.3.6.2.3 China Magnetic Sensors Market by End-User
10.3.6.3 India Magnetic Sensors Market
10.3.6.3.1 India Magnetic Sensors Market by Type
10.3.6.3.2 India Magnetic Sensors Market by Applications
10.3.6.3.3 India Magnetic Sensors Market by End-User
10.3.6.4 Japan Magnetic Sensors Market
10.3.6.4.1 Japan Magnetic Sensors Market by Type
10.3.6.4.2 Japan Magnetic Sensors Market by Applications
10.3.6.4.3 Japan Magnetic Sensors Market by End-User
10.3.6.5 South Korea Magnetic Sensors Market
10.3.6.5.1 South Korea Magnetic Sensors Market by Type
10.3.6.5.2 South Korea Magnetic Sensors Market by Applications
10.3.6.5.3 South Korea Magnetic Sensors Market by End-User
10.3.6.6 Rest of Asia-Pacific Magnetic Sensors Market
10.3.6.6.1 Rest of Asia-Pacific Magnetic Sensors Market by Type
10.3.6.6.2 Rest of Asia-Pacific Magnetic Sensors Market by Applications
10.3.6.6.3 Rest of Asia-Pacific Magnetic Sensors Market by End-User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Magnetic Sensors Market Overview
10.4.2 Middle East and Africa Magnetic Sensors Market Forecasts and Analysis
10.4.3 Middle East and Africa Magnetic Sensors Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Magnetic Sensors Market Forecasts and Analysis - By Applications
10.4.5 Middle East and Africa Magnetic Sensors Market Forecasts and Analysis - By End-User
10.4.6 Middle East and Africa Magnetic Sensors Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Magnetic Sensors Market
10.4.6.1.1 South Africa Magnetic Sensors Market by Type
10.4.6.1.2 South Africa Magnetic Sensors Market by Applications
10.4.6.1.3 South Africa Magnetic Sensors Market by End-User
10.4.6.2 Saudi Arabia Magnetic Sensors Market
10.4.6.2.1 Saudi Arabia Magnetic Sensors Market by Type
10.4.6.2.2 Saudi Arabia Magnetic Sensors Market by Applications
10.4.6.2.3 Saudi Arabia Magnetic Sensors Market by End-User
10.4.6.3 U.A.E Magnetic Sensors Market
10.4.6.3.1 U.A.E Magnetic Sensors Market by Type
10.4.6.3.2 U.A.E Magnetic Sensors Market by Applications
10.4.6.3.3 U.A.E Magnetic Sensors Market by End-User
10.4.6.4 Rest of Middle East and Africa Magnetic Sensors Market
10.4.6.4.1 Rest of Middle East and Africa Magnetic Sensors Market by Type
10.4.6.4.2 Rest of Middle East and Africa Magnetic Sensors Market by Applications
10.4.6.4.3 Rest of Middle East and Africa Magnetic Sensors Market by End-User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Magnetic Sensors Market Overview
10.5.2 South and Central America Magnetic Sensors Market Forecasts and Analysis
10.5.3 South and Central America Magnetic Sensors Market Forecasts and Analysis - By Type
10.5.4 South and Central America Magnetic Sensors Market Forecasts and Analysis - By Applications
10.5.5 South and Central America Magnetic Sensors Market Forecasts and Analysis - By End-User
10.5.6 South and Central America Magnetic Sensors Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Magnetic Sensors Market
10.5.6.1.1 Brazil Magnetic Sensors Market by Type
10.5.6.1.2 Brazil Magnetic Sensors Market by Applications
10.5.6.1.3 Brazil Magnetic Sensors Market by End-User
10.5.6.2 Argentina Magnetic Sensors Market
10.5.6.2.1 Argentina Magnetic Sensors Market by Type
10.5.6.2.2 Argentina Magnetic Sensors Market by Applications
10.5.6.2.3 Argentina Magnetic Sensors Market by End-User
10.5.6.3 Rest of South and Central America Magnetic Sensors Market
10.5.6.3.1 Rest of South and Central America Magnetic Sensors Market by Type
10.5.6.3.2 Rest of South and Central America Magnetic Sensors Market by Applications
10.5.6.3.3 Rest of South and Central America Magnetic Sensors Market by End-User
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. MAGNETIC SENSORS MARKET, KEY COMPANY PROFILES
12.1. ALLEGRO MICROSYSTEMS, LLC
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. AMS AG
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. ASAHI KASEI MICRODEVICES CORPORATION
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. HONEYWELL INTERNATIONAL INC.
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. INFINEON TECHNOLOGIES AG
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. MELEXIS
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. MURATA MANUFACTURING CO., LTD.
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. NVE CORPORATION
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. NXP SEMICONDUCTORS
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. TE CONNECTIVITY
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
The List of Companies
1. Allegro MicroSystems, LLC
2. ams AG
3. Asahi Kasei Microdevices Corporation
4. HONEYWELL INTERNATIONAL INC.
5 .Infineon Technologies AG
6. Melexis
7. Murata Manufacturing Co., Ltd.
8. NVE Corporation
9. NXP Semiconductors
10. TE Connectivity
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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