Market size of Hall effect sensors

The global market size for Hall Effect sensor reached US$ 0.8 billion in 2018 and is expected to reach around US$ 1.6 billion by 2025.

Analysis of the Hall effect sensors market

The worldwide Hall-effect sensors market is driven by increasing growth in automotive and consumer electronics, together with the increased use of high-end sensor products. The consumer electronics market is considering one of the fastest-growing applications for Hall Effect Sensors. In order to identify the actual location of the device itself, a range of consumer electronic products have begun to integrate electronic compasses as part of navigational equipment.

Thereafter, the automotive and telecommunications sectors are the next sectors that drive demand for Hall Effect Sensors. In the automotive market, a large volume of electronics was introduced into modern electronics, which control a number of functions, including door opening, windows, fuel cabinet, and so forth.

A Hall-effect sensor is mainly used when shafts and wheels are in speed and are also used for measuring internal ignition time, anti-lock braking systems and tachometers in a combustion engine. In fact, the electronics in the vehicle also need to be monitored that everything is working properly. Hall Effect Sensors are important to recognize these functions.

Another key factor that drives the market growth is the increased use of hall-effect sensors for automotive fuel level indicators. However, the innovative hall-effect sensor technologies and hall-effect sensors in hybrid vehicles are key opportunities for the market.