Magnetometer Market Scope
Increasing demand for magnetic equipment in research and development based across the globe will assist in business growth of Magnetometers. Magnetometers are the devices used to measure magnetic fields and determining the presence of minerals and metals. These equipment are also used in determining the quantity and type of minerals available in the earth's crust and ocean bed. In addition to this, these devices are used in aerospace applications such as pipeline inspection, space exploration, as well as in drilling applications to determine the path for drilling. Moreover, increasing adoption of Vector Field Magnetometer (VFM) will also assist in improving the demand for magnetometers.
The market study is being classified by Type (Axis, Dimensional and Single Axis), by Application (Energy, Healthcare, Aerospace & Defense, Consumer Electronics, Surveyors, Industrial and Others) and major geographies with country level break-up.
Since the Magnetometers are one of the Technologically Advanced Products they are moderately available across the globe. Moreover, with the introduction to digital magnetometers, the competition across the global population has upsurged drastically which will generate robust competitive rivalry in the global magnetometer market. Research Analyst at AMA predicts that United States and European Manufacturers will contribute to the maximum growth of Global Magnetometer market throughout the predicted period.
Bartington Instruments Ltd (United Kingdom), Cryogenic Limited (United Kingdom), GEM Technologies (India), Geometrics Inc. (United States), Lake Shore Cryotronics Inc. (United States), Lockheed Martin Corporation (United States), NXP Semiconductors N.V. (Netherlands), Scintrex Limited (Canada), Honeywell International Inc. (United States) and Infineon Technologies AG (Germany) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Tristan Technologies Inc. (United States), Marine Magnetics Corp. (Canada), VectorNav Technologies (United States) and Foerster Holding GmbH (Germany).
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Magnetometer market by Type, Application and Region.
On the basis of geography, the market of Magnetometer has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Form, the sub-segment i.e. Scalar Magnetometer will boost the Magnetometer market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Vector Magnetometer, the sub-segment i.e.
will boost the Magnetometer market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Scalar Magnetometer, the sub-segment i.e. will boost the Magnetometer market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Trend
- Increasing Adoption of Vector Field Magnetometer (VFM)
- Introduction to Highly Advanced and Accurate Digital Magnetometers
Market Drivers
- Growing Use of Magnetometers in Numerous Industrial Applications
- Efficiently Detect Fluctuations in the Magnetic Field of the Earth
Opportunities
- Upsurging Adoption of Magnetometers in Marine Applications
- Growing Demand High Sensitivity Per Unit Volume Towards Biomagnetic Fields
Restraints
- Induces Magnetic Bias of Two Types viz. Hard Iron Bias and Soft Iron Bias
- Inability to be Used with Magneto Torquers
Challenges
- Lack of Precision Availed by the Conventional Magnetometers
Key Target Audience
Magnetometer Manufacturers, Magnetometer Distributors and Traders, Upstream and Downstream Buyers, Government Agencies, Research and Development Institutes, Magnetic Equipment Manufacturers and Others
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