Giant Magneto Resistance (GMR) Sensors Market Size, Share, Growth, and Industry Analysis, By Type (Standard Multilayer, High Temperature Multilayer, Low Hysteresis High Temperature Multilayer, Spin Valve and Other), By Application (Automotive, Consumer Electronics, Industrial Applications, Aerospace & Defense, Medical & Biological and Others), Regional Insights, and Forecast To 2032

Updated On: 22 April 2024

Report Overview

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The global giant magneto resistance (GMR) sensors market size was USD 210.9 million in 2022. As per our research, the market is expected to reach USD 345.8 million by 2029, exhibiting a CAGR of 7.4% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the giant magneto resistance (GMR) sensors market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Giant magneto resistance (GMR) sensors is a quantum mechanical magnetoresistance effect observed in multilayers composed of alternating ferromagnetic and non-magnetic conductive layers. The 2007 Nobel Prize in Physics was awarded to Albert Fert and Peter Grünberg for the discovery of GMR. The effect is observed as a significant change in the electrical resistance depending on whether the magnetization of adjacent ferromagnetic layers are in a parallel or an antiparallel alignment. The overall resistance is relatively low for parallel alignment and relatively high for antiparallel alignment.

GMR sensors are made up of a stack of thin films, typically consisting of a ferromagnetic layer, a non-magnetic layer, and another ferromagnetic layer. The thickness of the layers is typically a few nanometers. When a magnetic field is applied, the magnetization of the ferromagnetic layers aligns with the field. This alignment changes the resistance of the sensor.

COVID-19 Impact: Pandemic Decreased the Market Demand                             

The COVID-19 pandemic has had a significant impact on the giant magneto resistance (GMR) sensors market share. The pandemic forced many factories and production lines to shut down, which led to a decline in the production of vehicles and consumer electronics. This, in turn, led to a decline in the demand for giant magneto resistance (GMR) sensors. The pandemic also led to a decrease in the demand for vehicles and consumer electronics. This was due to factors such as the economic slowdown, the fear of infection, and the shift to online shopping. The pandemic also led to a shift to alternative technologies, such as Hall sensors. Hall sensors are less expensive and more sensitive to low magnetic fields than GMR sensors. This made them a more attractive option for some applications, such as airbag sensors.

Latest Trends

"Increasing demand for GMR sensors in automotive applications is expected to fuel the growth in the market"

Giant magneto resistance (GMR) sensors are used in a variety of automotive applications, such as anti-lock braking systems (ABS), engine control modules, and airbag sensors. The increasing demand for safety features in vehicles is driving the demand for Giant magneto resistance (GMR) sensors in the automotive market. ABS is a safety system that prevents wheels from locking up during braking. This helps to maintain control of the vehicle during braking, especially in slippery conditions. Giant magneto resistance (GMR) sensors are used in ABS systems to measure the speed of each wheel. This information is used to control the braking system and prevent the wheels from locking up. ECMs are used to control the engine's performance. GMR sensors are used in ECMs to measure various engine parameters, such as the air intake, the exhaust gas, and the engine speed. This information is used by the ECM to control the fuel injection, the ignition timing, and other engine functions.

Segmentation

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• By Type Analysis

According to type, the market can be segmented into Standard Multilayer, High Temperature Multilayer, Low Hysteresis High Temperature Multilayer, Spin Valve and Other.

• By Application Analysis

Based on age, the market can be divided into Automotive, Consumer Electronics, Industrial Applications, Aerospace & Defense, Medical & Biological and Others.

Driving Factors 

"Growing demand for GMR sensors in consumer electronics applications to foster the market growth"

Giant magneto resistance (GMR) sensors are used in HDDs to read and write data on the disk platters. Giant magneto resistance (GMR) sensors are more sensitive than other types of sensors, such as Hall sensors, and they can read data more accurately. This makes them ideal for use in HDDs, where data accuracy is critical. Giant magneto resistance (GMR) sensors are used in touch screens to detect the presence of a finger or other object. GMR sensors are more accurate and reliable than other types of touch screen sensors, such as resistive touch sensors. This makes them ideal for use in high-end touch screens, such as those found in smartphones and tablets. GMR sensors are used in proximity sensors to detect the presence of an object. Proximity sensors are used in a variety of applications, such as car parking sensors, security systems, and proximity alarms. GMR sensors are more accurate and reliable than other types of proximity sensors, such as ultrasonic sensors.

"Increasing demand for GMR sensors in industrial applications to result in the expansion of the market"

GMR sensors are used in robotics to sense the position and orientation of objects. GMR sensors are more accurate and reliable than other types of sensors, such as Hall sensors. This makes them ideal for use in robotics, where accuracy and reliability are critical. GMR sensors are used in machine tools to sense the position and speed of the cutting tool. GMR sensors are more accurate and reliable than other types of sensors, such as optical sensors. This makes them ideal for use in machine tools, where accuracy and reliability are critical. GMR sensors are used in wind turbines to sense the wind speed and direction. GMR sensors are more accurate and reliable than other types of sensors, such as ultrasonic sensors. This makes them ideal for use in wind turbines, where accuracy and reliability are critical.

Restraining Factors

"Low sensitivity of GMR sensors to low magnetic fields to hamper the market growth"

The low sensitivity of GMR sensors to low magnetic fields is a restraining factor in their market. GMR sensors are typically sensitive to magnetic fields in the range of 10 to 100 Oersteds (Oe). This means that they are not sensitive to very weak magnetic fields, such as those produced by the Earth's magnetic field. This can be a problem in some applications, such as magnetic field imaging and non-destructive testing. In these applications, it is important to be able to detect very weak magnetic fields.

Regional Insights

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"Asia Pacific to lead the market owing to the presence of a large number of OEMs and automotive suppliers. "

The Asia Pacific region has shown the highest giant magneto resistance (GMR) sensors market growth. There are a large number of OEMs and automotive suppliers in the Asia Pacific region, which is driving the demand for GMR sensors. The governments in the Asia Pacific region are providing increasing support for the automotive and electronics industries, which is driving the demand for GMR sensors.

Key Industry Players

"Key players are employing advanced technologies in order to stimulate further growth of the market.  "

All the major players are motivated to offer superior and more advanced services in order to gain a competitive edge in the market. To increase their market presence, vendors are using a variety of techniques, including product launches, regional growth, strategic alliances, partnerships, mergers, and acquisitions.

List of Market Players Profiled

• Allegro MicroSystems: Milpitas, California, United States
• Infineon Technologies: Neubiberg, Germany
• Robert Bosch: Gerlingen, Germany
• NVE: Fremont, California, United States
• Yamaha: Shibuya, Tokyo, Japan
• Sensitec: Ettlingen, Germany
• Alps Alpine: Nagano, Japan

Report Coverage

This report examines an understanding of the giant magneto resistance (GMR) sensors market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.