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Giant Magnetoresistance (GMR) sensors have gained immense popularity across aerospace, power system, biomedical field, and modern transport systems. GMR technology has become sought-after owing to its innate ability to detect the low magnetic field. Lately, the application of GMR technology has become broad, spanning from applications in the automotive sector to compass functionality in mobile phones. It can also be used in biometric measurements of biosensors and eyes for the detection of viruses. Business Research Insights forecasts the market for giant magnetoresistive sensor to touch USD 266.9 million by 2027.
The expansion of consumer electronics, automotive, medical biological, aerospace and defense sectors has fared well for major companies gearing to tap global markets. Some of the major companies gearing to boost their portfolios are delineated below:
1. Honeywell International Inc.
Headquartered in North Carolina, Honeywell International Inc. is an American company founded in 1906. The company deals in building technologies, aerospace, safety and productivity solutions (SPS) and performance materials and technologies (PMT). Honeywell is reported to have a global workforce of 103,000 employees in 2020. The company expects to become carbon neutral in its facilities and operations by 2035.
2. Bartington Instruments Ltd.
Bartington Instruments was founded in 1985 and has amassed huge experience in the manufacturing and developing magnetic field sensors. The company manufactures and designs magnetic susceptibility instruments, high precision fluxgate magnetometers and other equipment. Bartington Instruments claims its 80% of products are exported globally across sectors, such as oil and mineral exploration, surveillance, defense, space and medicine, among others.
3. Robert Bosch GmbH
Robert Bosch GmbH, headquartered in Gerlingen, Germany, employs approximately 402,600 associates globally. The company has 440 subsidiaries and regional companies across 60 countries. Bosch provides innovative solutions for Industry 4.0, smart homes and connective mobility. The company specializes in sensor technology, services and software, along with IoT cloud and cross-domain solutions. Bosch mainly operates in industrial technology, mobility solutions, energy and building technology and consumer goods.
4. TE Connectivity Ltd.
TE Connectivity Ltd, founded in 2007, is headquartered in Switzerland and the U.S. The company manufactures and designs sensors and connectors for industries, including industrial equipment, automotive, aerospace, data communication systems, oil and gas, defense, energy and consumer electronics. TE Connectivity is reported to have approximately 89,000 employees globally.
5. MEMSIC, Inc.
Headquartered in China, MEMSIC, Inc. was founded in 1999 and is the global leader in sensing solutions and MEMS technology. mCube exclusively authorized MEMSIC for all its inertial sensor technologies and forayed into the field of capacitive accelerometers and Gyro Sensors in 2020. MEMSIC has gained immense experience in MEMS sensors and is expanding its product line in Hall sensors and other domains.
6. Analog Devices, Inc.
Analog Devices, Inc., founded in 1965, is headquartered in Massachusetts, U.S. The company is a global leader in manufacturing, designing and marketing a broad portfolio of mixed-signal, Integrated Circuits (ICs), Digital Signal Processing (DSP) and high-performance analog in all types of electronic equipment. Analog Devices specializes in innovative products, including sensors based on Microelectromechanical Systems (MEMS), Radio Frequency (RF), data converters and power management products.
7. Asahi Kasei Corporation
Tokyo-based Asahi Kasei Corporation grew as a diversified chemical manufacturer in the 1920s. The company develops electronics-related materials, chemicals and fiber products and seeks growth potentials across North America, Europe, Asia Pacific and South America. Asahi Kasei Corporation has been providing products and services that offer solutions to various social and environmental challenges.
Exponential Use of Smartphones Turns out to be a Boon
Amidst the havoc wrecked by the onslaught of the COVID-19 pandemic in the consumer electronics and automotive sectors, an uptick in the penetration of smartphones has offset the challenges of the pandemic. In essence, the shortage of semiconductors had an indirect impact on GMR sensor solutions and services. Bullish investments in aerospace, defense and automotive sectors will remain instrumental for GMR sensor manufacturers and suppliers. According to OICA, automotive production (cars and commercial vehicles) in China was pegged at 26,082,220 in 2021. Meanwhile, the U.S. witnessed 9,167,214 automotive productions in 2021.
Leading manufacturers and suppliers of Giant Magnetoresistance (GMR) sensors could rethink their strategies and emphasize investments in R&D activities and innovations to stay ahead of the curve.