The global demand for Magnetometer Market is presumed to reach the market size of nearly USD XX MN by 2027 from USD XX MN in 2020 with a CAGR of XX% under the study period 2021 - 2027.
Magnetometers are used for measuring magnetic fields or magnetic dipole moments. These devices are widely used to detect magnetic anomalies of various types and determine the dipole moment of magnetic materials. Some magnetometers can also measure the direction, strength, or relative change of a magnetic field at a particular location. A compass is an example of a magnetometer that measures the direction of an ambient magnetic field. Magnetometers are commonly used as a heading reference in an aircraft's altitude and heading reference system. Recently, magnetometers have been miniaturized to the extent that they can be incorporated in integrated circuits (ICs) and are increasingly used as miniaturized compasses.
The escalating applications of magnetometers in near-earth geometrics, oil and gas minerals exploration, space exploration, and consumer electronics devices drive the market growth of magnetometers. The rising usage of a magnetometer for detecting the interaction between the magnetic field and the alkali metal atoms and capability for detecting impurities in the magnet will propel the market growth. Massive investment by the key market players in research and development and the increasing production of atomic magnetometers is anticipated to push the market growth of magnetometers. Also, the growing adoption of smartphones and the use of magnetometers in smartphones for navigational purposes will boost the market growth of magnetometers. However, the need to regularly heat the magnetometer sensor vapor cell before performing any operation and the design issues faced by the engineers may hamper the market growth.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of magnetometer. The growth and trends of magnetometer industry provide a holistic approach to this study.
This section of the magnetometer market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Product Type
- Scalar Magnetometer
- Proton Precession
- Optical Pumped Magnetometer
- Vector Magnetometer
- Search coil
- Rotating Coil
- NV Magnetometer
By Form Factor
By Industry Vertical
- Geophysical Survey
- Detect Magnetic Anomalies
- Pipeline Monitoring
- Navigation Services
- Consumer Electronics
- Oil and Gas
- Aerospace and Defense
This section covers the regional outlook, which accentuates current and future demand for the Magnetometer market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Magnetometer Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the magnetometer market include Bartington Instruments Ltd., Lockheed Martin Ltd., Cryogenic ltd., NXP Semiconductors, Honeywell International Inc., Infineon Technologies AG, Lake Shore Cryotronics, Marine Magnetics Corp., Robert Bosch GmbH, GEM Technologies and Others
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information based on primary and secondary research. Secondary research has been done using various sources, including (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications. Additionally, our team conducts extensive primary research with key industry participants to gather first-hand data. The data is then analyzed and validated by industry experts.
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