Global Magnetometer Market

Posted by Rupali Dagade on August 30th, 2019

Global Magnetometer Market was valued US$ 8.97Bn in 2017 and is expected to reach US$ 19.17Bn by 2026, at a CAGR of 8.8% during a forecast period.

Magnetometers have been one of the most important pillars of advanced day science. Its significance in research, near earth geometrics, space exploration, oil & gas and minerals exploration and consumer electronics devices has transformed the human life to a greater extent. In recent years, the magnetometers market has seen a tremendous development, owing to its ever-increasing applications. The majority of vendors in the magnetometers market showcase to spend more in R&D activities to proliferate and better position their products in the market.

Global Magnetometer Market

According to 2016, technology segment vector magnetometer accounted for share contributing to US$ 4.78 billion of revenue generated in the overall market. It is also expected to hold maximum market share between forecasting periods, exhibit around 6.72% CAGR during the forecast period. This is mainly due to the rising demand of magneto-resistive technology across the globe followed by fluxgate and squid technology.

In term of application sector, consumer electronics accounted for more than 20% of the total market share in 2016. This segment is projected to showcase a CAGR of 8.21% during the forecast period. This is mainly due to the rising interest and demand of low cost magnetometer sensors usage in consumer electronics. Aeronautics and Defense is the second largest shareholding segment which is predicted to grow around CAGR of 7.07% during the forecast period. While predicting outcomes application dominates the magnetometer market with the CAGR of 9.74% by volume during forecast period. However, healthcare industry and Defense and aerospace are the fastest growing segment during the forecast period followed by media and entertainment.

Geographically, North America held predominance in 2016 as the region boasts significant presence of prominent players in the market. Among the countries, US has emerged at fore on the back of significant technological advancements witnessed in the last few years. Development in local magnetometer market is pumped by the increasing investment across diverse industries such as defense and aeronautics, consumer electronics among others.

Scope of the Global Magnetometer Market

Global Magnetometer Market, by Product:

• Single Axis

• 3 — Axis

• 3 Dimensional

Global Magnetometer Market, by Technology

• Scalar Magnetometer

o Proton Precession Magnetometer

o Ionized Gas Magnetometer

o Over Hauser Effect Magnetometer

• Vector Magnetometer

o Fluxgate Magnetometer

o SQUID Magnetometer

o Search-coil Magnetometer

o Rotating Coil Magnetometer

o Magneto Resistive Magnetometer

Global Magnetometer Market, by Form Factor:

• Fixed

• Portable

Global Magnetometer Market, by Application

• Surveyors

o Geographical

o Archeological

• Energy

o Coal exploration

o Oil and gas exploration

o Mineral Exploration

• Health Care Monitoring

• Pipe line monitoring

• Natural Calamities

• Research and Monitoring

• Industrial

• Defense and Aeronautics

• Consumer Electronics

Global Magnetometer Market, by Geography

• North America

• Europe

• Asia-Pacific

• Middle East & Africa

• South America

Key Players operating in the Global Magnetometer Market

• artington 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.

• VectorNav Technologies

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