Magnetic Sensor Market Size To Reach $4.39 Billion By 2030

Magnetic Sensor Market Growth & Trends

The global magnetic sensor market size is expected to reach USD 4.39 billion by 2030, registering a CAGR of 6.4% from 2025 to 2030, according to a new report by Grand View Research, Inc. Growing emphasis on automobile safety, coupled with steadily declining prices of sensors, has supported product demand. Integration of sophisticated technology in consumer electronics is also expected to drive the magnetic sensor market.

In addition to smartphones, magnetic sensors are being increasingly integrated into wearables such as fitness bands and smartwatches. The trend of embedding these components with giant magnetoresistance (GMR) films has gained a lot of importance. This procedure aids in detecting and reading data from microelectromechanical systems (MEMS), such as MRAMs, temporary memory processing units, and hard drives.

Sensors are being increasingly incorporated in automobiles to achieve fuel efficiency and ensure the safety and convenience of the occupants. Governments in several European countries are encouraging customers to adopt electric vehicles (EVs) to address the issue of air pollution. This, in turn, is driving demand for magnetic sensors, since they are integrated into EVs’ power systems for monitoring supplementary motor inverters.

The Hall Effect technology is quite mature as compared to other sensing technologies. However, in spite of this, its application base continues to witness a steady increase, which can be attributed to continuous developments that still make it a preferred choice in several industry verticals.

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Magnetic Sensor Market Report Highlights

• Based on technology, the Hall effect segment held the largest market share of 29.0% in 2024. The TMR segment is projected to exhibit the fastest CAGR over the forecast period.

• Based on application, the automotive sector holds the major share in the market in 2024. The consumer electronics segment is anticipated to grow substantially during the forecast period.

• The North America magnetic sensor industry is anticipated to grow over the forecast period. The magnetic sensor industry in the U.S. is mature and technologically advanced, with sustained demand across automotive, aerospace, defense, and industrial applications.

• Asia Pacific magnetic sensor industry led globally with revenue share of 47.26% in 2024, which is attributed to the prospering automotive and consumer electronics manufacturing industries in the region, as well as the presence of prominent sensor manufacturers in China and Japan.

Magnetic Sensor Market Segmentation

Grand View Research has segmented global magnetic sensor market report based on technology, application, and region:

Magnetic Sensor Technology Outlook (Volume, Million Units; Revenue, USD Million, 2018 - 2030)

• Hall Effect

• Anisotropic Magnetoresistance (AMR)

• Giant Magnetoresistance (GMR)

• Tunnel Magnetoresistance (TMR)

• Others

Magnetic Sensor Application Outlook (Volume, Million Units; Revenue, USD Million, 2018 - 2030)

• Automotive

• Consumer Electronics

Magnetic Sensor Regional Outlook (Volume, Million Units; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

• Latin America

  • Brazil

• Middle East and Africa (MEA)

  • KSA

  • UAE

  • South Africa

List of Key Players of Magnetic Sensor Market

• Asahi Kasei Baumer Ltd.

• Alps Alpine Co., Ltd.

• Elmos Semiconductor SE

• Honeywell International, Inc.

• Allegro MicroSystems, Inc.

• iC-Haus

• MEMSIC Semiconductor Co., Ltd.

• MultiDimension Technology Co., Ltd.

• NVE Corporation

• NXP Semiconductors