MAGNETIC SENSORS MARKET ANALYSIS

Key Developments

• In October 2023, Renesas Electronics Corp., a leading global supplier of semiconductor solutions, announced the development of its new inductive position sensor (IPS) technology. This advanced technology is designed for highly accurate motor position sensor ICs, catering to robotics, industrial, and medical applications.
• In October 2023, Melexis, a global leader in semiconductor solutions for the automotive industry, announced the expansion of its popular MLX9042x series of 3D magnetic position sensing solutions with the introduction of the MLX90423. This new device offers high accuracy for long strokes of up to 30mm, stray field immunity (SFI), and compliance with ISO26262, supporting integration into ASIL D systems. This cost-effective solution is particularly well-suited for automotive ADAS applications with space constraints, such as braking systems.
• In January 2023, Infineon Technologies AG, a prominent semiconductor manufacturer, announced the launch of the XENSIV TLI5590-A6W magnetic position sensor. This innovative sensor combines the company's expertise in magnetic position sensors with its advanced linearized tunnel magnetoresistance (TMR) technology. It is designed in a wafer-level package and is ideal for both linear and angular incremental position detection. The device meets the JEDEC standard JESD47K for industrial and consumer applications, making it a suitable alternative to optical encoders and resolvers.
• In April 2020, TDK Corporation, a leading global electronics company, announced a collaboration with Genetesis, a U.S.-based firm specializing in magnetocardiography (MCG) technology. Genetesis, known for its innovative medical imaging solutions for cardiac diagnostics, is set to leverage TDK Corporation's extensive global reach and expertise in biomagnetic sensors. The partnership also includes advancements in piezoelectric actuators, magnetic noise suppression systems, MEMS technologies, and other related fields.

*Definition: The global magnetic sensors market consists of various types of sensors such as hall effect sensors, anisotropic magnetoresistance (AMR) sensors, giant magnetoresistance (GMR) sensors, and tunnel magnetoresistance (TMR) sensors that are used to detect and measure the magnetic field, magnetic flux, magnetic poles, current and angle of rotation. These magnetic sensors have applications in industries such as consumer electronics, automotive, industrial, aerospace & defense and healthcare. The increasing demand for magnetic sensors from automotive and consumer electronics industries is expected to drive the growth of the global magnetic sensors market during the forecast period.