The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The magnetometer market has demonstrated strong growth, rising from $2.32 billion in 2023 to $2.50 billion in 2024, with a CAGR of 7.7%. This growth is attributed to electric vehicle adoption, defense sector investments for magnetic anomaly detection, and consumer electronics demand. Forecasts predict continued growth to $3.21 billion by 2028, with a CAGR of 6.5%, driven by aerospace, defense, and automotive sector demands. Major trends include technology advancements and improvements in sensor technology and MEMS.

The magnetometer market is experiencing a significant boost due to the increasing demand for electric vehicles. These vehicles, reliant on electric power, utilize magnetometers to ensure precise navigation and orientation, crucial for their efficient operation. With global electric car sales witnessing a substantial surge, reaching 10.2 million units in 2022, the magnetometer market is forecasted to grow steadily, estimated at $X billion in 2023, $Y billion in 2024, and $Z billion in 2028. Additionally, the aerospace and defense industry, thriving with an 11% increase in commercial aircraft deliveries in 2023, further drives the demand for magnetometers, cementing their indispensable role in various applications.

Get A Free Sample On The Magnetometer Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=13875&type=smp

What Are The Key Trends That Influence Magnetometer Market Share Analysis?

Major companies in the magnetometer market are enhancing their profitability by developing innovative products like AMR magnetometer sensors. An AMR (Anisotropic MagnetoResistive) magnetometer sensor measures magnetic fields by detecting resistance changes due to the orientation of magnetic field lines relative to the sensor’s material. For example, in February 2023, MEMSIC Inc., a US-based semiconductor manufacturing company, launched the AMR magnetometer MMC5616WA. These magnetometers offer advanced features for diverse applications, including automotive, industrial, and consumer electronics, providing smart and secure sensing of physical motion and displacement. They are crucial in medical, wearable, and smart home applications due to their reliable and intelligent detection capabilities.

Which Market Players Are Driving Growth In The Magnetometer Market?

Major companies operating in the magnetometer market report are Robert Bosch GmbH, Honeywell International Inc., Asahi Kasei Corporation, STMicroelectronics N.V., Infineon Technologies AG, NXP Semiconductors, Master Magnetics Inc., Lake Shore Cryotronics Inc., Cryogenic Limited, Institut Dr. Foerster GmbH & Co. KG, PCE Instruments Limited, Scintrex Limited, Gem Systems Inc., Apogee Instruments Inc., VectorNav Technologies, Metrolab Technology SA, Senis AG, Tristan Technologies Inc., Group3 Technology Ltd., AlphaLab Inc., Geonics Ltd., Marine Magnetics Corp., Metronix GmbH, Nucrypt LLC, Bartington Instruments Ltd

How Is The Global Magnetometer Market Segmented?

The magnetometer market covered in this report is segmented –

1) By Type: Scalar Magnetometer, Proton Precession, Fluxgate, Vector Magnetometer, Optical Pumping, Other Types
2) By Form Factor: Portable, Fixed
3) By Application: Navigation, Space Exploration, Medical Devices, Geophysics And Mining, Industrial Automation, Other Applications
4) By Industry Vertical: Aerospace And Defense , Automotive, Consumer Electronics, Healthcare, Industrial, Other Industries

Read The Full Magnetometer Market Report Here
https://www.thebusinessresearchcompany.com/report/magnetometer-global-market-report

The Magnetometer Global Market Report 2024 provides an overview of the magnetometermarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The magnetometer market forecast analyzes magnetometer market size, magnetometer market share, leading competitor and their market positions.

The Table Of Content For The Magnetometer Market Include

1. Magnetometer Market Executive Summary
2. Magnetometer Market Segments
3. Magnetometer Market Size And Template Market Growth Rate
4.  Key Magnetometer Market Trends
5. Major Magnetometer Market Drivers
……
25. Key Mergers And Acquisitions In The Magnetometer Market
26. Top Magnetometer Companies
27. Magnetometer Market Opportunities And Strategies
28. Magnetometer Market, Conclusions And Recommendations
29. Appendix

Explore Similar Reports From The Business Research Company:

Bone Densitometer Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/bone-densitometer-global-market-report

Automotive Chassis Dynamometer Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/automotive-chassis-dynamometer-global-market-report

Spirometer Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/spirometer-global-market-report

Learn More About The Business Research Company
The Business Research Company has published over 15000+ reports in 27 industries, spanning 60+ geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Contact us at:The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info

Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on: