Magnetometer market is anticipated to worth USD 1,901 million by 2025s
Published | 06 April 2019
According to BlueWeave
Consulting, the global Magnetometer market is anticipated to worth USD 1,901
million by 2025, with a CAGR of 5.9% during 2019-2025. The Global Magnetometer Market
is expected to grow with a significant rate during the forecast period
2019-2025, owing to the rising of the Magnetometer in various industries such
as surveyors, energy, healthcare monitoring, pipeline monitoring, natural
calamities, industrial, defense & aeronautics, and consumer electronics.
The demand for these instruments in several sectors, such as defense &
aerospace and military for object detection, will boost the Magnetometer market
in the upcoming year.
Moreover, the major factor
driving the market growth is technological advancements in magnetometer coupled
with higher utilization by manufacturing industries for enhanced data quality,
improved sensitivity, and operational efficiency. Furthermore, the demand for
consumer electronics enabled with GPS, which provides integrated and seamless
positioning solutions, will accelerate the growth of the Magnetometer market.
Additionally, the integration of sensors and the advancement of technologies
would help to improve the scope of the magnetic magnetometers in several
industries.
The inclusion of
magnetometers to the PCB boards is an emerging trend through which it offers
additional advantages coupled with the huge demand of consumer electronics that
will contribute to the Magnetometer market growth during the forecast period.
The magnetometer market is driven due to its enhanced data quality, improved
sensitivity, and operational efficiency in manufacturing industries. With the
improvements in the processing and display speed is an enhancement in the
effectiveness of these instruments, which will augment the global Magnetometer
market in the forecast period.
Browse Detailed Analysis
with TOC, “Global Magnetometer Market
Size, by Technology (Scalar Magnetometer and Vector Magnetometer), by Product
Type (Single Axis, 3 - Axis, and 3 Dimensional), by Application(Surveyors,
Energy, Health Care Monitoring, Pipe Line Monitoring, Natural Calamities Research
& Monitoring, Industrial Defense & Aeronautics, and Consumer
Electronics), by Region (North America, Europe, Asia Pacific, Middle East &
Africa and Latin America); Growth Potential, Trends Analysis, Competitive
Market Size and Forecast, 2019-2025”
At https://www.blueweaveconsulting.com/global-magnetometer-market-bwc19141
Vector
technology is projected to be the leading segment of the overall market during
the forecast period.
Based on technology type,
the Magnetometer market segmented into Scalar Magnetometer and Vector
Magnetometer. The Vector Magnetometer dominates the global Magnetometer owing
to growing its application in the aerospace industry for measuring features in
a specific direction. Scalar Magnetometer will trigger by the augmentation in
uses in environmental surveys, geophysical exploration, and weapon detection.
3-Axis
product type of magnetometer is expected to be the dominating segment of the
overall market during the forecast period
Based on product type, the
Magnetometer market segmented into Single Axis, 3 – Axis, and 3
Dimensional. 3 – Axis will lead the
market owing to growing its uses in electronics devices smartphones, tablets,
etc. Single Axis market will drive by its applications in Cryogenic probes to
measure magnetization inside RF for its features like a portable,
high-performance instrument, which provides precision measurements and display
of the intensity of static and slowly varying magnetic fields in the direction
of the probe.
Consumer
Electronics is projected to lead the industry for utilizing applications of the
Magnetometer during the forecast period.
Based on Application, the
global Magnetometer market segmented into Surveyors, Energy, Health Care
Monitoring, Pipe Line Monitoring, Natural Calamities Research & Monitoring,
Industrial Defense & Aeronautics, and Consumer Electronics. By application
type, Consumer Electronics will lead the market owing to the rise in demand for
electronics devices enabled with GPS. Pipe Line Monitoring market will drive by
the demand of magnetometer for underground mapping utilities such as pipes and
cables by channeling electrical current through the item to be mapped.
North
America accounts for the lion’s share of the global Magnetometer market during
the anticipated period.
Based on region, the
Magnetometer market has been segmented into North America, Europe, Asia
Pacific, Middle East & Africa, and Latin America. North America is expected
to dominate the Magnetometer market during the forecast period, owing to the
presence of major manufacturing companies and aerospace and defense. The Asia
Pacific is projected to be the fastest-growing market throughout the forecast
period due to the rise in demand of magnetometer in military & defense
sectors towards sophisticated machines for performing submarine in countries
like China and India.
Global
Magnetometer Market Competitive Landscape
Companies such as Bartington
Instruments Ltd, Cryogenic Limited, GEM Technologies, Geometrics, Inc.,
Honeywell International, Inc., Infineon Technologies AG, Foerster Holding GmbH,
Lake Shore Cryotronics, Inc., Lockheed Martin Corporation, NXP Semiconductors
N.V., Scintrex Limited, Marine Magnetics Corp., Tristan Technologies, Inc.,
Robert Bosch GmbH, and VectorNav Technologies are the key players for
Manufacturing of Magnetometer.
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