Global Magnetometer market is accounted for $8.64 billion in 2017 and is expected to reach $15.46 billion by 2026 growing at a CAGR of 6.7%. Increasing investments in research & development activities, growing utilization of magnetometer in various applications, and recent technological advancements are some of the factors bolstering the market growth during the forecast period. Furthermore, raising adoption in consumer electronics is another factor fuelling the market growth. On the other hand, intense competition and declining average selling price are hindering the market.
Vector magnetometer technology segment is likely to remain the major segment over the next seven years. Consumer electronics applications segment is expected to witness large market revenue over the forecast period. The Asia Pacific region accounted for the largest market share and is anticipated to grow at the highest rate due to massive demand for consumer electronics and automobiles from countries such as China, India, Japan, South Korea, and among others. North America followed by Europe is projected to be the largest market.
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Top Market Player’s
Some of the key players in Magnetometer market include Bartington Instruments Ltd, Cryogenic Limited, Fat Quarters Software and Electronics, GEM Technologies, Geometrics, Group3 Technology Ltd., Honeywell International Inc., Infineon Technologies AG, Institut Dr. Foerster GmbH & Co. KG., Lake Shore Cryotronics, Inc., Lockheed Martin Corporation., Marine Magnetics Corp., Murata Manufacturing Co., Ltd., NXP Semiconductors N.V, Robert Bosch GmbH, S2M Magnetic Bearings, Scintrex, STMicroelectronics N.V., Tristan Technologies, Inc., and VectorNav Technologies.
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- Vector Magnetometers
- Scalar Magnetometer
- Consumer Electronics
- Defense and Aeronautics (including Space)
- Health care monitoring
- Natural Calamities Research and Monitoring
- Pipe line monitoring
- North America
- Asia Pacific
- South America
- Middle East & Africa
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