The global magnetic sensors market size is expected to reach USD 3.65 billion by 2022 according to a new report by Grand View Research, Inc. Technological advancements and an increased awareness regarding vehicle safety are anticipated to drive the global magnetic sensors market growth over the forecast period. Escalating demand for GPS & navigation enabled smartphones and wearable devices is expected to further incite industry growth. Magnetic sensing devices are used for detecting and measuring magnetic fields. These sensors assist in wear-free measurement of angular speed and angle of rotation with contactless operation. They are widely used in consumer electronic devices such as smartphones and wearable devices for position sensing, switching, current sensing, and angular sensing. In addition, they are used in white goods and heavy consumer durables such as air conditioners and refrigerators.
http://www.grandviewresearch.com/industry-analysis/magnetic-sensors-market
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