Global magnetic angle sensor market is estimated to witness a rise in revenue from US$ 949.0 million in 2023 to US$ 1,715.5 million by 2032. The market is expected to register a CAGR of 6.8% over the forecast period 2024-2032. In terms of volume, the market is registering a CAGR of 5.8% during the same period.

The magnetic angle sensor market is expected to witness significant growth in the coming years, driven by various factors such as the increasing demand for these sensors in multiple end-use applications, rising demand from the automation and robotics industry, and growing digitalization trends in manufacturing processes. The transportation, aerospace & defense, healthcare, and consumer electronics sectors are among the key industries that are driving the market growth.

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Key Drivers of Market Growth

1. Technological Advancements
   The magnetic angle sensor market is buoyed by rapid technological advancements. Innovations in sensor technology are enhancing accuracy, reducing size, and improving performance. This evolution is pivotal in sectors such as automotive, aerospace, and consumer electronics, where precision is critical.
2. Automotive Industry Demand
   The automotive industry is a significant contributor to the market's growth. Magnetic angle sensors are integral to advanced driver-assistance systems (ADAS) and electric vehicle (EV) applications. They provide crucial data for vehicle stability control, steering angle measurement, and battery management systems.
3. Rising Automation in Manufacturing
   The trend towards greater automation in manufacturing processes drives demand for magnetic angle sensors. These sensors are used in robotics, automation systems, and industrial machinery to ensure precise control and monitoring, thereby enhancing productivity and operational efficiency.
4. Growing Consumer Electronics Market
   The proliferation of consumer electronics is another growth driver. Magnetic angle sensors are increasingly utilized in smartphones, wearables, and other gadgets for orientation detection, motion sensing, and user interface enhancement.

List of Key Companies Profiled:

• Allegro MicroSystems
• Alps Alpine
• AMS AG
• Crocus Technology
• Mouser Electronics
• Honeywell International
• Infineon Technologies AG
• Littelfuse Inc.
• MultiDimension Technology(MDT)
• Melexis
• NVE Corporation
• Renesas Electronics Corporation
• Robert Bosch GmbH
• Sensitec GmbH
• TDK Corporation
• Texas Instruments Incorporated
• Sensor Solutions
• Other Prominent Players

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Segmentation Overview

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