The magnetic sensors market is expected to grow from USD 3.403 billion in 2025 to USD 4.602 billion in 2030, at a CAGR of 6.22%.
A magnetic sensor measures the strength of the geomagnetism and magnetism produced by a current or a magnet. There are several variants and versions of magnetic sensors. The most basic magnetic sensors that can track changes in magnetic flux density are coils. A coil is not typically decimated due to its simplistic construction. However, the magnetic flux's rate of change affects the output voltage. A stationary magnet or magnetic flux that fluctuates extremely slowly might not be detectable by a coil. A sensor called a reed switch has metal pieces (reed) projecting from the left and right sides that are enclosed in a glass tube with a gap where the reeds overlap. Magnetic sensors are frequently employed in security and military applications such as navigation, location monitoring, antitheft systems, and the detection, differentiation, and positioning of ferromagnetic and conducting items.
The market for energy-saving and high-performing appliances has gradually increased in recent years, which has resulted in a large increase in the sales of smart home gadgets. This feature is anticipated to fuel the growth of the magnetic sensor market and to encourage the incorporation of the product into numerous consumer electronic devices, including service robots, smart door locks, and wireless security systems. Additionally, key firms in the electronics segment have seen a rise in sales in recent years, which has significantly impacted the magnetic sensors market. As per their annual reports, Apple Inc. saw an increase of almost 33% in their revenues from 2020 to 2021, increasing from US$ 274 billion to US$ 365 billion, with the smartphone and tablet segment accounting for almost 52.48% of the total revenue in 2021; the segment also saw an increase of 39% as per the reports. Initiatives undertaken by key firms to innovate existing technology have also fuelled the growth of this market. For instance, in January 2023, TDK Corporation, one of the key global suppliers of magnetic sensors, partnered with Texas Instruments to develop the TDK i3 Micro Module, a module that combines the edge AI, mesh network capability, and high-performance SmartIndustrialTM MEMS accelerometer and digital output temperature sensor from TDK into a single component.
Due to the existence of numerous growing economies like China and South Korea, two of the world's most prominent producers of consumer electronics, the Asia Pacific region commands sizeable market shares of the worldwide magnetic sensors market. One of the main industries in the area, particularly in nations like India and Japan, is the automobile sector. The demand for magnetic sensors is significant in this industry and the market is anticipated to expand even more over the projected period due to the rising use of applications, such as anti-braking systems (ABS) and anti-locking systems, where magnetic sensors are extensively used. Meanwhile, North America also represents a sizable portion of the magnetic sensors market owing to the presence of several key manufacturers of magnetic sensors, including Diodes Inc. Allegro Microsystems, and Honeywell Inc., which are significant global suppliers of these sensors.
| Report Metric | Details |
|---|---|
| Total Market Size in 2026 | USD 3.403 billion |
| Total Market Size in 2031 | USD 4.602 billion |
| Growth Rate | 6.22% |
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Segmentation | Type, Application, End-User, Geography |
| Geographical Segmentation | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Companies |
|