Global Magnetometer Market is valued at approximately USD 1.8 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 5.96% over the forecast period 2023-2030. A Magnetometer is used to measure the magnitude, direction, and alignment of a magnetic field may all be determined scientifically using a magnetometer. It is employed in many different industries, including geopolitics, excavation, the search for minerals, navigation, and aircraft. Consumer electronics consumption is on the rise, and the automobile industry is another important driver of market expansion. The instrument uses Tesla units to measure magnetic flux density. Metrolab Technology launched the NMR Magnetic Field Camera MFC2046 which is built on the superior sensitivity of the NMR magnetometer PT2026, with a choice of two probe-array geometries. An increase in the need for magnetometers in geophysics and mining is one reason driving the growth of the globally magnetometer market with the growing prevalence of these magnetometers in the aerospace and military industries. The three-axis magnetometer is a key component used in spacecraft telemetry for developing the magnetic purity design in the aerospace and defence industries.
The increasing use of magnetometers in the consumer electronics industry, such as household appliances, digital cameras, mobile devices, toys, electronic instruments, and other electronic equipment, will be driving the global magnetometer market during the forecast period. For instance, in Feb. 2023, MEMSIC, the world's leading MEMS technology solution provider, launched a new AMR magnetometer MMC5616WA, as an upgrade to MEMSIC's large-scale production of ultra-small size AMR magnetometers, to meet the needs of rich application scenarios such as wearable devices, drones, and AR/VR. Thus, the increase in the usage of consumer electronics products such as household appliances, digital cameras, smartphones, toys, electronic instruments, and other electronic equipment is likely to propel the global magnetometer market during the forecast period. Additionally, rising development of flexible magnetic sensors and expansion of the education and research industry is anticipated to create the lucrative opportunity for the market during forecast period. However, the high costs of raw materials will impede the market growth rate.
The key regions considered for the Global Magnetometer Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the magnetometer market has grown as a result of increased investment by major manufacturers and government agencies in developing next-generation aerospace and defense systems. As the automobile industry in Asia Pacific grows, more magnetometer-based vehicle detection systems are being deployed for smart parking applications. This is anticipated to drive magnetometer market value in the region also the rising supportive government initiative for the development of magnetometers are propelling the lucrative demand for the market. For instance, In October 2022, the Indian Institute of Geomagnetism (IIG), an autonomous research institution under DST, Government of India, developed an over Hauser magnetometer. The over Hauser magnetometer sensor, installed at Ali Bag Magnetic Observatory (MO), can reduce India's dependence on commercial OH magnetometers for performing geomagnetic field measurements. North America is expected to grow significantly during the forecast period, owing to factors such as it is anticipated that higher requirements for magnetometers from the aerospace and defense industries would drive industry growth in North America. It is anticipated that more drones and unmanned aircraft (UAV) are going to employ military-grade fluxgate magnetometers which is likely to raise demand for magnetometers in North America.
Major market player included in this report are:
- Bartington Instruments Ltd,
- Cryogenic Limited,
- Gem Systems Advanced Magnetometers,
- Honeywell International Inc,
- Infineon Technology India Pvt Ltd.
- Lake Shore Cryotronics, Inc,
- Lockheed Martin Corporation,
- Marine Magnetics Corp,
- NXP Semiconductors N.V,
- Tristan Technologies, Inc,
Recent Developments in the Market:
- In September 2021, Honeywell International Inc. declared that the new 3-Axis space magnetometer design for tiny satellites has been certified. The brand-new magnetometer satisfies the needs of the emerging new space sector.
- In June 2020, Asahi Kasei Corporation unveiled the AK8781, an ultra-compact packaging latch-type Hall IC suitable for small DC brushless (BL) motors. It is a little package that reacts rapidly and can function in hot environments. The release of this product is predicted to contribute to the micro-miniaturization and high efficiency of DCBL motors.
Global Magnetometer Market Report Scope:
- Historical Data: 2020 - 2021
- Base Year for Estimation: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Product, Form Factor, Technology, Application, Type, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
- The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
By Product:
- Single Axis Magnetometer Market
- 3-Axis Magnetometer Market
- 3D Magnetometer Market
- Others
By Form Factor:
- Stationary Magnetometers
- Portable/Mobile Magnetometers
By Technology:
- MEMS
- Magneto Resistive
- Fluxgate/Coil
- Hall Effect
- Magneto Inductive
- SQUID
- Optically Pumped
- Nuclear Precession
By Application:
- Consumer Electronics
- Aerospace & Defense
- Education & Research
- Commercial
- Healthcare Monitoring
- Security
- Forensic
- Image Processing of the Magnetic Data
- Others
By Type:
- Scalar Magnetometers
- Vector Magnetometers
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Magnetometer Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Magnetometer Market, by Product, 2020-2030 (USD Billion)
- 1.2.3. Magnetometer Market, by Form Factor, 2020-2030 (USD Billion)
- 1.2.4. Magnetometer Market, by Technology, 2020-2030 (USD Billion)
- 1.2.5. Magnetometer Market, by Application, 2020-2030 (USD Billion)
- 1.2.6. Magnetometer Market, by Type, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Magnetometer Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Magnetometer Market Dynamics
- 3.1. Magnetometer Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Increasing Demand for Electric cars
- 3.1.1.2. Opportunities presented by aerospace and defence industry
- 3.1.2. Market Challenges
- 3.1.2.1. High production cost associated with raw material
- 3.1.3. Market Opportunities
- 3.1.3.1. Growth and Expansion of the education and research industry
- 3.1.3.2. Development of flexible magnetic sensors
Chapter 4. Global Magnetometer Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Magnetometer Market, by Product
- 5.1. Market Snapshot
- 5.2. Global Magnetometer Market by Product, Performance - Potential Analysis
- 5.3. Global Magnetometer Market Estimates & Forecasts by Product 2020-2030 (USD Billion)
- 5.4. Magnetometer Market, Sub Segment Analysis
- 5.4.1. Single Axis Magnetometer
- 5.4.2. 3-Axis Magnetometer
- 5.4.3. 3D Magnetometer
- 5.4.4. Others
Chapter 6. Global Magnetometer Market, by Form Factor
- 6.1. Market Snapshot
- 6.2. Global Magnetometer Market by Form Factor, Performance - Potential Analysis
- 6.3. Global Magnetometer Market Estimates & Forecasts by Form Factor 2020-2030 (USD Billion)
- 6.4. Magnetometer Market, Sub Segment Analysis
- 6.4.1. Stationary
- 6.4.2. Portable/Mobile Magnetometer
Chapter 7. Global Magnetometer Market, by Technology
- 7.1. Market Snapshot
- 7.2. Global Magnetometer Market by Technology, Performance - Potential Analysis
- 7.3. Global Magnetometer Market Estimates & Forecasts by Technology 2020-2030 (USD Billion)
- 7.4. Magnetometer Market, Sub Segment Analysis
- 7.4.1. MEMS
- 7.4.2. Magneto Resistive
- 7.4.3. Fluxgate/coil
- 7.4.4. Hall Effect
- 7.4.5. Magneto Inductive
- 7.4.6. SQUID
- 7.4.7. Optically Pumped
- 7.4.8. Nuclear Precession
Chapter 8. Global Magnetometer Market, by Application
- 8.1. Market Snapshot
- 8.2. Global Magnetometer Market by Application, Performance - Potential Analysis
- 8.3. Global Magnetometer Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
- 8.4. Magnetometer Market, Sub Segment Analysis
- 8.4.1. Consumer Electronics
- 8.4.2. Aerospace and Defence
- 8.4.3. Education and Research
- 8.4.4. Commercial
- 8.4.5. Healthcare Monitoring
- 8.4.6. Security
- 8.4.7. Forensic
- 8.4.8. Image Processing of the Magnetic Data
- 8.4.9. Others
Chapter 9. Global Magnetometer Market, by Type
- 9.1. Market Snapshot
- 9.2. Global Magnetometer Market by Type, Performance - Potential Analysis
- 9.3. Global Magnetometer Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
- 9.4. Magnetometer Market, Sub Segment Analysis
- 9.4.1. Scaler Magnetometer
- 9.4.2. Vector Magnetometer
Chapter 10. Global Magnetometer Market, Regional Analysis
- 10.1. Top Leading Countries
- 10.2. Top Emerging Countries
- 10.3. Magnetometer Market, Regional Market Snapshot
- 10.4. North America Magnetometer Market
- 10.4.1. U.S. Magnetometer Market
- 10.4.1.1. Product breakdown estimates & forecasts, 2020-2030
- 10.4.1.2. Form Factor breakdown estimates & forecasts, 2020-2030
- 10.4.1.3. Technology breakdown estimates & forecasts, 2020-2030
- 10.4.1.4. Application breakdown estimates & forecasts, 2020-2030
- 10.4.2. Canada Magnetometer Market
- 10.5. Europe Magnetometer Market Snapshot
- 10.5.1. U.K. Magnetometer Market
- 10.5.2. Germany Magnetometer Market
- 10.5.3. France Magnetometer Market
- 10.5.4. Spain Magnetometer Market
- 10.5.5. Italy Magnetometer Market
- 10.5.6. Rest of Europe Magnetometer Market
- 10.6. Asia-Pacific Magnetometer Market Snapshot
- 10.6.1. China Magnetometer Market
- 10.6.2. India Magnetometer Market
- 10.6.3. Japan Magnetometer Market
- 10.6.4. Australia Magnetometer Market
- 10.6.5. South Korea Magnetometer Market
- 10.6.6. Rest of Asia Pacific Magnetometer Market
- 10.7. Latin America Magnetometer Market Snapshot
- 10.7.1. Brazil Magnetometer Market
- 10.7.2. Mexico Magnetometer Market
- 10.8. Middle East & Africa Magnetometer Market
- 10.8.1. Saudi Arabia Magnetometer Market
- 10.8.2. South Africa Magnetometer Market
- 10.8.3. Rest of Middle East & Africa Magnetometer Market
Chapter 11. Competitive Intelligence
- 11.1. Key Company SWOT Analysis
- 11.1.1. Company 1
- 11.1.2. Company 2
- 11.1.3. Company 3
- 11.2. Top Market Strategies
- 11.3. Company Profiles
- 11.3.1. Bartington Instruments Ltd
- 11.3.1.1. Key Information
- 11.3.1.2. Overview
- 11.3.1.3. Financial (Subject to Data Availability)
- 11.3.1.4. Product Summary
- 11.3.1.5. Recent Developments
- 11.3.2. Cryogenic Limited
- 11.3.3. Gem Systems Advanced Magnetometer
- 11.3.4. Honeywell International Inc
- 11.3.5. Infineon Technology India Pvt Ltd.
- 11.3.6. Lake Shore Cryotronics, Inc
- 11.3.7. Lockheed Martin Corporation
- 11.3.8. Marine Magnetics Corp
- 11.3.9. NXP Semiconductors N.V
- 11.3.10. Tristan Technologies, Inc
Chapter 12. Research Process
- 12.1. Research Process
- 12.1.1. Data Mining
- 12.1.2. Analysis
- 12.1.3. Market Estimation
- 12.1.4. Validation
- 12.1.5. Publishing
- 12.2. Research Attributes
- 12.3. Research Assumption