(Yole Group) Magnetic sensors are widely used in Automotive, Mobility, Industrial, Energy, Medical, and Consumer applications. Thanks to their wide variety of functions, magnetic sensors have spread into numerous applications, leading the market to a value of $2.9B in 2023. The market is expected to reach $3.7B five years from now, growing at $4% CAGR23-29. In value, the market is mainly led by Automotive & Mobility with profound transformations in the domain including the electrification and sensorization of cars leading the market to reach $2.3B in 2029 (See link for report details).
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