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Frost & Sullivan: Demand from Smartphone and Automotive Segments Drives Global Magnetic Sensors Market

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Frost & Sullivan: Demand fromFrost & Sullivan: Demand from Smartphone and Automotive Segments Drives Global Magnetic Sensors Market PR Newswire LONDON, Dec. 16, 2013 - Product innovation and competitive pricing are key factors for success The rapid proliferation of smart phones and tablets has caused the global magnetic sensors market to boom. This growth curve will continue as declining price points make magnetic sensors affordable for mass-market penetration. New analysis from Frost & Sullivan (http://www.sensors.frost.com), Analysis of the Global Magnetic Sensors Market, finds that the market earned revenues of $1.66 billion in 2012 and estimates this to reach $3.51 billion in 2019. The study also outlines the prospective areas of growth globally, end user- and application-wise. With navigation emerging as a must-have feature in smartphones and cellular handsets, the need for digital compasses has spurred the global magnetic sensors market. "Moreover, the mandatory fitment of magnetic sensors in vehicles due to regulations from the automotive sector has fuelled sale volumes," said Frost & Sullivan Measurement and Instrumentation Senior Industry Analyst V Sankaranarayanan. "Opportunities for magnetic sensor vendors in the automotive industry will continue to open up as new applications emerge." However, this immense potential may not translate into equivalent revenues as intense competition leads to pricing pressures.
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Frost & Sullivan: Demand from Smartphone and Automotive Segments Drives Global Magnetic Sensors Market

PR Newswire

- Product innovation and competitive pricing are key factors for success

The rapid proliferation of smart phones and tablets has caused the global magnetic sensors market to boom. This growth curve will continue as declining price points make magnetic sensors affordable for mass-market penetration.

New analysis from Frost & Sullivan (http://www.sensors.frost.com), Analysis of the Global Magnetic Sensors Market, finds that the market earned revenues of $1.66 billion in 2012 and estimates this to reach $3.51 billion in 2019. The study also outlines the prospective areas of growth globally, end user- and application-wise.

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