Lewes, DE -- (SBWIRE) -- 02/10/2016 -- Report forecast the global MEMS magnetic sensors market to grow at a CAGR of 19.06% during the period 2016-2020.

A sensor measures or responds to physical changes in its environment and transforms mechanical signals into electric signals. Magnetic sensors use magnetic fields to sense changes in speed, motion, and direction.

MEMS-based magnetic sensors are small devices used for measuring and detecting magnetic fields. Most of these devices function by detecting Lorentz force effects, during which the resonant frequency or voltage change may be measured electronically or optically for mechanical displacement.

The demand for three-axis magnetic field sensors for low-power, low-cost applications like electronic compasses for smartphones is increasing. For these applications, manufacturers prefer Lorentz-force MEMS-based magnetometers to other magnetic sensors such as magnetic tunnel junction (MTJ) and anisotropic magnetoresistance (AMR).

The report covers the present scenario and the growth prospects of the global MEMS magnetic sensors market for 2016-2020. To calculate the market size, the report consider the revenue generated from the sale of MEMS magnetic sensors around the world.

The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA

According to the report, the global MEMS magnetic sensors market is driven by many factors, including reduced sensor size and low manufacturing cost. These sensors do not require microfabrication of magnetic material, and their small size ensures suitability and better performance in most applications. This, along with the use of the semiconductor chip manufacturing process, ensures a high throughput of these sensors. The high adoption rate of these sensors in the automotive sector will also support market growth, as automakers integrate these sensors to improve the efficiency of their vehicles.

Further, the report states that the effect of temperature on sensor functioning is one of the major challenges

Global MEMS Magnetic Sensors Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the Global MEMS Magnetic Sensors Market: Allegro Microsystems, Bosch, Asahi Kasei Microsystems, Honeywell and Infineon.

Other Prominent Vendors in the market are: Aichi Steel, Diodes, Melexis, MEMSIC, Micronas, Yamaha, Alps Electric, and STMicroelectronics.

Market driver
- Reduced product size and low manufacturing cost
- For a full, detailed list, view our report

Market challenge
- Effect of temperature on sensor operation
- For a full, detailed list, view our report

Market trend
- Growing adoption of wearable devices
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 51 pages and 22 Exhibit "Global MEMS Magnetic Sensors Market 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market Overview, Market Landscape, Technology landscape, Market segmentation by application, Geographical segmentation, Key leading countries, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Key suggestions for investors and vendors, Appendix.

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