Global Magnetic Field Sensor Market To Have Significant Growth Rates 2030

Magnetic field sensors are used for detecting magnetic fields and process this information. The outcome of the position, size, width, speed, and strength or the direction of an applied magnetic field can be converted into specific output signals. It is broadly utilized in several industries for contactless current sensing, rotation sensing, linear, and angular position. The global magnetic field sensor market is driven by the growth in the automotive industry and continuous growth in the consumer electronics segment. The major role of magnetic sensors in applications such as navigation and penetration of MEMS technology is impelling market growth in the upcoming period.