Global MEMS Magnetic Sensor Market Size Likely to Surpass at a CAGR of 7.65% By 2033

As per the current market research conducted by the CMI Team, the Global MEMS Magnetic Sensor Market size is expected to record a CAGR of 7.65% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 3.05 Million. By 2033, the valuation is anticipated to reach USD 5.77 Million.

MEMS Magnetic Sensor Market: Growth Factors and Dynamics

• Increasing Adoption in Automotive Applications: MEMS magnetic sensors are heavily adopted in automotive applications. They can be found in most automobile designs as position sensors, speed detectors, and measurement devices of angle readings. The role of MEMS magnetic sensors is considered essential for completing safety improvements in the vehicle’s safe operation and general driving experience.

• Growing Demand in Consumer Electronics: MEMS magnetic sensors have become increasingly prevalent in the consumer electronics industry, particularly for electronic compasses in smartphones, tablets, and wearables. These sensors provide precise orientation detection, enabling navigation functionalities.

• Technological Advancements: Progress in miniaturization and microfabrication techniques has facilitated the integration of magnetic sensing elements with electronic circuits on a single silicon chip. This integration offers key benefits, including high sensitivity, low power consumption, and a compact form factor.

• Expanding Applications: The miniaturization and microfabrication techniques have allowed magnetic sensing elements to be seamlessly incorporated with electronic circuits on the same silicon chip. This results in improved sensitivity, reduced power usage, and a smaller size. Regions such as North America and Europe, with strict regulations regarding vehicle safety and automation, are driving the increased adoption of MEMS magnetic sensors in the automotive and industrial sectors.

• Rapid Industrialization and Urbanization: The Asia Pacific region is witnessing fast growth in the MEMS magnetic sensor market. The growth of the MEMS magnetic sensor market has been supported by increased automotive manufacturing, a high investment in smart infrastructure, and a growing adoption of IoT solutions.

• Growing Demand for Miniature Components: OEMs are trying to save space by including more miniature components, calling for new market vendors and increasing competition.

• Rising Demand for Navigation and Geographic Information Systems (GIS): MEMS magnetic sensors also form a critical part of navigation and geospatial information systems that require high-precision heading and positioning data in automobile, aviation, and maritime applications. The sensor and location-based services in smartphones highly trigger this demand..

MEMS Magnetic Sensor Market: Partnership and Acquisitions

• In April 2020, Infineon Technologies AG acquired Cypress Semiconductor Corporation, a San Jose-based company, marking a significant strategic development step. The acquisition aims to link the real with the digital world and shape digitalization, becoming a trusted partner for customers and distributors in the automotive, industrial, and IoT markets.

• In December 2022, Melexis released the MLX90376, an absolute magnetic position sensor IC designed for 360° rotary automotive applications. It offers strong stray field immunity (SFI) and supports system integration up to ASIL D level functional safety. The MLX90376 belongs to the Triaxis high-end family and can be housed in SMP-4 PCB-less or surface-mount device (SMD) packaging.

Report Scope

MEMS Magnetic Sensor Market: COVID-19 Analysis

The COVID-19 pandemic has significantly impacted the MEMS Magnetic Sensor Market, with the industry experiencing positive and negative effects. Here are some of the key impacts:

• Disruption in Supply Chains: The pandemic has damaged supply chains considerably, especially in the semiconductor and electronics industries. Lockdowns, in full force or imposition of various health safety measures, had manufacturing facilities shut down, resulting in delayed production and delivery of MEMS magnetic sensors. It then caused an impact on the availability of components in sensor production, thereby pushing up lead time and cost for manufacturers.

• Decreased Demand in Certain Sectors: During the initial phases of the pandemic, demand for MEMS magnetic sensors in sectors such as automotive and consumer electronics experienced a decline. The automotive industry faced significant challenges, including production halts and reduced consumer spending, leading to decreased sensor orders. Similarly, the consumer electronics market saw a temporary slowdown as retail outlets closed and consumers prioritized essential goods over electronics.

• Shift in Focus to Healthcare Applications: Conversely, the pandemic accelerated the demand for MEMS magnetic sensors in the healthcare sector. The need for advanced medical devices, such as diagnostic equipment and patient monitoring systems, increased significantly. MEMS sensors played a crucial role in enhancing the functionality and accuracy of these devices, leading to a shift in focus for some manufacturers toward healthcare applications.

• Increased Adoption of Automation and IoT: The pandemic highlighted the importance of automation and IoT solutions in various industries as companies sought to improve operational efficiency and reduce reliance on manual labor. This shift has driven increased demand for MEMS magnetic sensors, integral to smart devices and automation systems. The growing trend toward digital transformation is expected to sustain the demand for these sensors in the post-pandemic era.

• Innovation and R&D Investments: Despite the challenges posed by the pandemic, many companies in the MEMS magnetic sensor market continued to invest in research and development. The focus was on developing more advanced sensors with higher accuracy, lower power consumption, and greater integration capabilities. The pandemic underscored the need for resilient and adaptable technology, prompting sensor manufacturers to innovate and create solutions that could meet evolving demands across different sectors. These innovations are expected to drive long-term growth in the MEMS magnetic sensor market.

• Economic Uncertainty and Investment Delays: The economic uncertainty brought about by the pandemic led to delays in investments and capital expenditures across various industries. Many companies postponed or scaled back their projects, impacting the demand for MEMS magnetic sensors in industrial machinery, aerospace, and infrastructure development applications. However, as economic conditions stabilized and recovery efforts took hold, there was renewed interest in investing in advanced technologies, including MEMS sensors, to drive growth and competitiveness.

In conclusion, the COVID-19 pandemic has had a mixed impact on the MEMS Magnetic Sensor Market, with some challenges and opportunities arising from the pandemic.

List of the prominent players in the MEMS Magnetic Sensor Market:

• Allegro Microsystems
• Alps Electric
• AMS AG
• Analog Devices
• Asahi Kasei Micro
• ASC GmbH
• Honeywell International
• Infineon Technologies
• Melexix
• Micronas Semiconductor
• Murata Manufacturing
• NXP Semiconductor
• Robert Bosch
• STMicroelectronics
• Texas Instruments
• Others

The MEMS Magnetic Sensor Market is segmented as follows:

By Type

• Capacitive Type
• Double Torsion Pendulum Type
• Other

By Range

• Less than 1 Microgauss
• Between 1 Microgauss to 10 Gauss
• Greater than 10 Gauss

By Application

• Speed Sensing
• Position Sensing
• Proximity Detection/NDT
• Navigation and Electronic Compass
• Flow Rate Sensing
• Other

By End-user Industry

• Automotive
• Consumer Electronics
• Healthcare & Medical
• Aerospace & Defense
• Industrial
• Other

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America