Magnetometer Market Introduction and Overview
According to SPER Market Research, the Global Magnetometer Market is estimated to reach USD 6.14 billion by 2032 with a CAGR of 6.72%.
The report includes an in-depth analysis of the Global Magnetometer Market, including market size and trends, product mix, end users, and supplier analysis. A magnetometer detects the direction and strength of a magnetic field at a specified location. Magnetometers are classified into two types based on their axis: single axis magnetometers and three axis magnetometers. Magnetometers are used in mission-critical automobile applications such as electronic compass, GPS navigation, and magnetic field sensing. Magnetometers can now be found in consumer electronics applications such as computer tablets, cellphones, gaming and audio/video devices, desktop PCs, and personal electronics, thanks to advancements in microelectromechanical system (MEMS) technology. Manufacturers should expect a rise in opportunities during the projected period as the use of stationary magnetometers, also known as fixed magnetometers, grows.
- Consumer Electronics: The increasing popularity of smartphones, wearables, and other consumer electronic gadgets that use magnetometers for a variety of applications such as navigation, gaming, and augmented reality has been a major driver of the magnetometer market.
- Aerospace and Defense: Magnetometers are used in a variety of applications in the aerospace and defense industries, including navigation, missile detection, and space exploration. As these sectors modernize and grow, so does the demand for improved magnetometer technologies.
Market Opportunities and Challenges
The magnetometer market offers various fascinating opportunities that drove its expansion. The growing need for magnetometers in a variety of industries and applications supported these potential.The fast expansion of consumer electronics created a tremendous business potential. With the increased use of smartphones, wearable devices, and augmented reality applications, the necessity for precise magnetometers for navigation and motion detection has become critical. The rise of mobile gaming and virtual reality has also increased demand for magnetometers, which play an important part in offering immersive experiences. Another arising market opportunity for magnetometer technology was the Internet of Things (IoT). Magnetometers were required for a variety of applications, including motion detection, orientation sensing, and navigation, as the IoT ecosystem grew.
The magnetometer market was confronted with a number of challenges that threatened its growth and development. These difficulties ranged from technology restrictions to commercial dynamics. One of the most significant challenges was technological restrictions. While magnetometers have advanced significantly, there are still limitations to reaching the ultra-high precision and sensitivity required for some specific applications. Magnetometers with extraordinary accuracy were frequently required by industries such as defense, aerospace, and scientific research, and attaining these demanding standards was a problem for producers. Another key difficulty in the magnetometer industry was competition. As the demand for magnetometers rose across industries, the market got more competitive, with new firms entering and old ones expanding.
Market Competitive Landscape
The magnetometer market's competitive environment was characterized by a mix of established and rising competitors contending for market share. The competitive dynamics of the market were driven by variables such as technical breakthroughs, product innovation, price tactics, and the capacity to respond to varied industry needs. At the top of the competitive pyramid were well-established enterprises with a long history in the industry. These industry leaders have considerable experience, high brand recognition, and a large consumer base.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Type, By Product Type, By Form Factor, By Application, By End User
|
| Regions covered | Asia-Pacific, Europe, Middle East and Africa, North America, Latin America
|
| Companies Covered | Barington Instruments Ltd, Cryogenic Limited, FOERSTER Holding GmbH, Gem Systems Advanced Magnetometers, Geometrics, Honeywell International Inc, Infeneon Technology, Lake Shore Cryotronics, Inc, Lockhead Martin Corporation, Marine Magnetics Corp, NXP Semiconductors N.V, Scintrex Limited, Tristan Technologies, Inc, VectorNav Technologies
|
COVID-19 Impact on Global Magnetometer Market
The pandemic of COVID-19 had a mixed effect on the magnetometer market. Disrupted supply chains and manufacturing activities initially resulted in temporary production delays and distribution issues. Magnetometer demand fluctuated as certain industries declined, while others, such as healthcare and research, saw increasing usage. Product development and sales activities were hampered by remote work and travel restrictions. The pandemic, on the other hand, provided chances for COVID-19 research and diagnosis. The virus was studied using medical devices and equipment equipped with magnetometers, and IoT applications grew in response to the necessity for contactless navigation and motion detection.
Key Target Audience
- Geophysical Exploration
- Aerospace and Defense
- Consumer Electronics
- Industrial Manufacturing
Our in-depth analysis of the Magnetometer Market includes the following segments:
|
By Type:
|
Scalar Magnetometer
Proton Precession
Optical Pumped Magnetometer
Vector Magnetometer
Fluxgate
Search Coil
Rotating Coil
NV Magnetometer
|
|
By Product Type:
|
Single Axis
3-Axis
3-dimensional
|
|
By Form Factor:
|
Portable
Fixed
|
|
By Application:
|
Geophysical Survey
Pipeline Monitoring
Navigation Services
|
|
By End User:
|
Consumer Electronics
Oil and Gas
Mining
Aerospace and defense
Automotive
Healthcare
Industrial
Others
|
Key Topics Covered in the Report
- Global Magnetometer Market Size (FY’2022-FY’2032)
- Overview of Global Magnetometer Market
- Segmentation of Global Magnetometer Market By Type (Scalar Magnetometer, Proton Precession, Optical Pumped Magnetometer, Vector Magnetometer, Fluxgate, Search Coil, Rotating Coil, NV Magnetometer.)
- Segmentation of Global Magnetometer Market By Product Type (Single Axis, 3-Axis, 3-dimensional.)
- Segmentation of Global Magnetometer Market By Form Factor (Portable, Fixed)
- Segmentation of Global Magnetometer Market By Application (Geophysical Survey, Pipeline Monitoring, Navigation Services)
- Segmentation of Global Magnetometer Market By End User (Consumer Electronics, Oil and Gas, Mining, Aerospace and defense, Automotive, Healthcare, Industrial, Others.)
- Statistical Snap of Global Magnetometer Market
- Expansion Analysis of Global Magnetometer Market
- Problems and Obstacles in Global Magnetometer Market
- Competitive Landscape in the Global Magnetometer Market
- Effects of COVID-19 and demonetization on Global Magnetometer Market
- Details on Current Investment in Global Magnetometer Market
- Competitive Landscape of Global Magnetometer Market
- Prominent Players in the Global Magnetometer Market
- SWOT Analysis of Global Magnetometer Market
- Global Magnetometer Market Future Outlook and Projections (FY’2022-FY’2032)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1 Research data source
2.1.1 Secondary data
2.1.2 Primary data
2.1.3 SPER’s internal database
2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2. COVID-19 Impacts of the Global Magnetometer Market
5. Market variables and outlook
5.1. SWOT analysis
5.1.1 Strengths
5.1.2 Weaknesses
5.1.3 Opportunities
5.1.4 Threats
5.2. PESTEL analysis
5.2.1 Political landscape
5.2.2 Economic landscape
5.2.3 Social landscape
5.2.4 Technological landscape
5.2.5 Environmental landscape
5.2.6 Legal landscape
5.3. PORTER’S five forces analysis
5.3.1 Bargaining power of suppliers
5.3.2 Bargaining power of Buyers
5.3.3 Threat of Substitute
5.3.4 Threat of new entrant
5.3.5 Competitive rivalry
5.4. Heat map analysis
6. Global Magnetometer Market, By Type, 2019-2032 (USD Million)
6.1. Scalar Magnetometer
6.2. Proton Precession
6.3. Optical Pumped Magnetometer
6.4. Vector Magnetometer
6.5. Fluxgate
6.6. Search Coil
6.7. Rotating Coil
6.8. NV Magnetometer
7. Global Magnetometer Market, By Product Type, 2019-2032 (USD Million)
7.1. Single Axis
7.2. 3-Axis
7.3. 3-dimensional
8. Global Magnetometer Market, By Form Factor, 2019-2032 (USD Million)
8.1. Portable
8.2. Fixed
9. Global Magnetometer Market, By Application, 2019-2032 (USD Million)
9.1. Geophysical Survey
9.2. Pipeline Monitoring
9.3. Navigation Services
10. Global Magnetometer Market, By EndUser, 2019-2032 (USD Million)
10.1. Consumer Electronics
10.2. Oil and Gas
10.3. Mining
10.4. Aerospace and defense
10.5. Automotive
10.6. Healthcare
10.7. Industrial
10.8. Others
11. Global Magnetometer Market, By Region, 2019-2032 (USD Million)
11.1. North America
11.1.1. United States
11.1.2. Canada
11.1.3. Mexico
11.2. Europe
11.2.1. Germany
11.2.2. United Kingdom
11.2.3. France
11.2.4. Italy
11.2.5. Spain
11.2.6. Rest of Europe
11.3. Asia-Pacific
11.3.1. China
11.3.2. Japan
11.3.3. India
11.3.4. Australia
11.3.5. South Korea
11.3.6. Rest of Asia-Pacific
11.4. South America
11.4.1. Brazil
11.4.2. Argentina
11.4.3. Rest of South America
11.5. Middle East & Africa
11.5.1. Kingdom of Saudi Arabia
11.5.2. United Arab Emirates
11.5.3. Rest of Middle East & Africa
12. Company Profiles
12.1. Barington Instruments Ltd
12.1.1. Company details
12.1.2. Financial outlook
12.1.3. Product summary
12.1.4. Recent developments
12.2. Cryogenic Limited
12.2.1. Company details
12.2.2. Financial outlook
12.2.3. Product summary
12.2.4. Recent developments
12.3. FOERSTER Holding GmbH
12.3.1. Company details
12.3.2. Financial outlook
12.3.3. Product summary
12.3.4. Recent developments
12.4. Gem Systems Advanced Magnetometers
12.4.1. Company details
12.4.2. Financial outlook
12.4.3. Product summary
12.4.4. Recent developments
12.5. Geometrics
12.5.1. Company details
12.5.2. Financial outlook
12.5.3. Product summary
12.5.4. Recent developments
12.6. Honeywell International Inc
12.6.1. Company details
12.6.2. Financial outlook
12.6.3. Product summary
12.6.4. Recent developments
12.7. Infeneon Technology
12.7.1. Company details
12.7.2. Financial outlook
12.7.3. Product summary
12.7.4. Recent developments
12.8. Lake Shore Cryotronics, Inc
12.8.1. Company details
12.8.2. Financial outlook
12.8.3. Product summary
12.8.4. Recent developments
12.9. Lockhead Martin Corporation
12.9.1. Company details
12.9.2. Financial outlook
12.9.3. Product summary
12.9.4. Recent developments
12.10. Marine Magnetics Corp
12.10.1. Company details
12.10.2. Financial outlook
12.10.3. Product summary
12.10.4. Recent developments
12.11. NXP Semiconductors N.V
12.11.1. Company details
12.11.2. Financial outlook
12.11.3. Product summary
12.11.4. Recent developments
12.12. Scintrex Limited
12.12.1. Company details
12.12.2. Financial outlook
12.12.3. Product summary
12.12.4. Recent developments
12.13. Tristan Technologies, Inc
12.13.1. Company details
12.13.2. Financial outlook
12.13.3. Product summary
12.13.4. Recent developments
12.14. VectorNav Technologies
12.14.1. Company details
12.14.2. Financial outlook
12.14.3. Product summary
12.14.4. Recent developments