According to BlueWeave Consulting, The Global Magnetometer Market is expected to grow with a significant rate during the forecast period 2019-2025; owing to rising of Magnetometer in various industry such as surveyors, energy, healthcare monitoring, pipeline monitoring, natural calamities, industrial, defense & aeronautics, and consumer electronics. The demand for these instruments in several sectors, such as defense & aerospace and military for object detection will boost the Magnetometer market in the upcoming year.
Moreover, the major factor driving the market growth is technological advancements in magnetometer coupled with greater utilization by manufacturing industries for enhanced data quality, improved sensitivity, and operational efficiency. Furthermore, the demand for consumer electronics enabled with GPS which provide integrated and seamless positioning solutions will accelerate the growth of Magnetometer market. Additionally, integration of sensors and advancement of technologies in magnetic magnetometers would help in improving the scope of the magnetic magnetometers in several Industries will drive the global magnetometer market in the next few years.
Competitive Landscape
Companies such as Bartington Instruments Ltd, Cryogenic Limited, GEM Technologies, Geometrics, Inc., Honeywell International, Inc., Infineon Technologies AG, Foerster Holding GmbH, Lake Shore Cryotronics, Inc., Lockheed Martin Corporation, NXP Semiconductors N.V., Scintrex Limited, Marine Magnetics Corp., Tristan Technologies, Inc., Robert Bosch GmbH. and VectorNav Technologies. are the key players for Manufacturing of Magnetometer.
Vector technology of Magnetometer is projected to be the leading segment of the overall market during the forecast period
On the basis of Technology type, the Magnetometer market has been segmented into Scalar Magnetometer and Vector Magnetometer. Vector Magnetometer dominates the global Magnetometer owing to growing its application in aerospace Industry for measuring features in a specific direction. Scalar Magnetometer will trigger by the augmentation in uses in environmental surveys, geophysical exploration, and weapon detection.
3-Axis product type of magnetometer is expected to be the dominating segment of the overall market during the forecast period
On the basis of Product type, the Magnetometer market has been segmented into Single Axis, 3 – Axis, and 3 Dimensional. 3 – Axis will lead the market owing to growing its uses in electronics devices smartphones, tablets etc. Single Axis market will drive by its uses in Cryogenic probes to measure magnetization inside RF for its features like portable, high-performance instrument which provides precision measurements and display of the intensity of static and slowly varying magnetic fields in the direction of the probe.
Consumer Electronics is projected to lead the industry for utilizing applications of the Magnetometer during the forecast period
On the basis of Application, the global Magnetometer market has been segmented into Surveyors, Energy, Health Care Monitoring, Pipe Line Monitoring, Natural Calamities Research & Monitoring, Industrial Defense & Aeronautics, and Consumer Electronics. By application type, Consumer Electronics will lead the market owing to the rise in demand for electronics devices enabled with GPS. Pipe Line Monitoring market will drive by the demand of magnetometer for mapping underground utilities such as pipes and cables by channeling electrical current through the item to be mapped.
North America accounts for the lion’s share of the global Magnetometer market during the anticipated period.
On the basis of region, the Magnetometer market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America dominates the world Magnetometer market over the forecast period owing to the presence of major manufacturing companies coupled with the huge demand of magnetometer in aerospace and defense. The Asia Pacific is projected to be the fastest growing market throughout the forecast period due to the rise in demand of magnetometer in military & defense sectors towards sophisticated machines for performing submarine in countries like China and India.
Key Target Audience:
- Market research and consulting firms
- Industry associations
- Global Magnetometer Manufacturing firms
- Research organizations and consulting companies
- Global Magnetometer distributors
- Organizations, associations and alliances related to Magnetometer market
- Regulatory bodies