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Global Magnetic Field Sensors Market Expected to Reach $2.9 Billion by 2020

Research and Markets has announced the addition of the "Magnetic Field Sensors Market by Type, Technology, Applications and Geography - Forecasts & Analysis to 2013 - 2020" report to their offering.

The market size of the magnetic field sensors market is expected to grow from the $1.6 Billion that it accounted for in 2013 to $2.9 Billion by 2020, at an estimated CAGR of 8.04% from 2014 to 2020

In the modern world, numerous types of magnetic field sensors are being used in different verticals. The necessity for magnetic field sensors is increasing mainly due to the better efficiency and sensing performance that they offer. They have a special place in different industry verticals. The major applications are found in the automotive industry, consumer electronics industry, homeland security, healthcare, and the defense industry.

This report is based on the extensive research study on the world magnetic field sensors market and aims to identify the market in its entirety along with all its sub-segments through extensively detailed classifications, in terms of both revenue and unit shipments.

Within the auto segment, as the consumers demand features that improve safety, handling, stability, performance, comfort, convenience, and other attributes of a vehicle, more sensors are being developed to cater to this surging demand. The market is expected to continue to grow as the car manufacturers are finding more ways to integrate sensor-related features in their production vehicles. The report also contains qualitative data on the trends in sensors in xEV, along with insights about the global decreasing sales of the magnetic field sensors in the smartphones market.

Source: http://www.researchandmarkets.com/

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