The Global Magnetic Field Calibrator Market size is projected to grow from an estimated USD $1.5 billion in 2018 to USD $2.3 billion by 2028, at a CAGR of 6.7%. Increasing magnetic field interference in consumer electronics and automotive industries are some of the major factors boosting market growth.
The Magnetic Field Calibrator is a device that provides magnetic field calibration measurements for magnetometers, which are digital sensors used to measure the strength and direction of an electromagnetic field. They can be single sensor calibrators or multi-sensor calibrators. The magnetic field calibrator should have at least one calibrated magnetometer channel in order to provide accurate readings.
On the basis of Type, the market is segmented into Single Sensor Calibration and Multi-Sensor Calibration. The single sensor calibration type is expected to be the largest contributor in revenues by 2028, as it has been dominating this segment for a long time now.
In this method, a single sensor is calibrated for the magnetic field by using another external and known or stable magnetic source of interest. The calibration process comprises two phases: i) measuring the output value from both sensors with respect to an unknown input signal; ii) calibrating the sensor until its output matches that in-phase (i). Single Sensor Calibration can be done either as part of the installation or during repair work on equipment.
Multi-Sensor Calibration consists of sensors that are calibrated in a particular location, and these measurements can then be extrapolated to other locations. This allows for correction factors to compensate for variations in the Earth's magnetic field strength at different points around the world.
This calibration approach is typically used when there are many magnetic sources near each other (such as an industrial site). When measuring such complex environments, it may be difficult or impossible to calibrate one sensor accurately enough for all applications. Multi-sensor data provides more accurate results than single-sensor measurement.
On the basis of Application, the market is segmented into Automotive, Consumer Electronics, Healthcare and Medical, Aerospace & Defense.
The use of Magnetic Field calibrators in automotive is increasing as the requirement for accuracy and reliability are high. Therefore, there has been a significant increase in demand for these devices among OEMs. The sensors calibrate their magnetic field to match with the earth's magnetic field so that they can calculate distances accurately and reliably.
The Consumer Electronics industry is expected to increase the demand for magnetic field calibrators as they will be needed in various manufacturing processes such as semiconductor fabrication. The sensors are used in many of these processes, including etching and diffusion steps. They help manufacturers detect any deviations from their desired values so that they can adjust accordingly or even stop production if a product does not pass quality standards.
In medical imaging, Magnetic Field Calibrator is used for determining the magnetic field of various parts of a patient's body. This helps in finding out how much radiation needs to be applied during radiography and nuclear medicine procedure. In MRI, it is one of the important parameters that are set prior to scanning.
The aerospace & defense industry is one of the potential end-user industries for magnetic field calibrators. Aircraft and spacecraft manufacturers, as well as military contractors, need to keep their high-precision equipment calibrated in order to produce aircraft with accurate performance characteristics. This includes everything from precision instruments such as fuel gauges and altimeters on an airplane or GPS systems that allow pilots to navigate accurately by satellite without getting lost.
Magnetic field calibration ensures accuracy when it comes to things like angle measurements, distance calculations, timing signals, accelerometers, and gyroscopes used in guidance systems for missiles or rockets (especially those intended for space use), navigation devices for submarines, or other underwater vehicles.
On the basis of Region, the market is segmented into North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa.
The North American market is projected to grow with the highest CAGR during the forecast period. The growth in this market is mainly due to the rising demand for magnetic field calibrators in automotive applications, which are driving players towards innovations and improvements of existing products as well as the development of new product offerings.
The European region will be closely followed by North America; Europe is expected to have a considerable share owing to its large number of key companies operating their business operations out of this region. This has also increased the level of competition among these established brands, thereby contributing significantly towards regional dominance.
The Asia Pacific market accounted for less than four percent of revenue share in the year 2019. The region is expected to witness significant growth owing to its vast pool of untapped potential and rapid technological developments.
The Middle East & Africa will become an emerging yet promising market for magnetic field calibrators with a moderate share from other regions (such as the Asia Pacific) given the recent initiatives taken by Saudi Arabia, UAE, and Iran towards building or upgrading their power grids.
The global magnetic field calibrator market is driven by the need for accurate measurements of physical quantities. It has been observed that a non-uniformity in measurement leads to errors that could be critical at times – such as high precision engineering and scientific research, manufacturing processes, or calibration and quality control systems. The increase in demand for devices with higher accuracy levels will create scope for growth opportunities over the forecast period (2021–2028).
Up Market Research published a new report titled “Magnetic Field Calibrator Market research report which is segmented by Types (Single Sensor Calibration, Multi-Sensor Calibration), By Applications (Automotive, Consumer Electronics, Healthcare and Medical, Aerospace & Defense, Other), By Players/Companies Schloeder-EMV, Matesy GmbH, Parker Research Corporation, JUTECH Measurement & Contrlâ€Ž, SPEKTRA Dresden GmbH, Narda STS, Adams Magnetic Products, Extech Instruments”.
|Report Attributes||Report Details|
|Report Title||Magnetic Field Calibrator Market Research Report|
|By Type||Single Sensor Calibration, Multi-Sensor Calibration|
|By Application||Automotive, Consumer Electronics, Healthcare and Medical, Aerospace & Defense, Other|
|By Companies||Schloeder-EMV, Matesy GmbH, Parker Research Corporation, JUTECH Measurement & Contrlâ€Ž, SPEKTRA Dresden GmbH, Narda STS, Adams Magnetic Products, Extech Instruments|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||210|
|Number of Tables & Figures||147|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Single Sensor Calibration, Multi-Sensor Calibration and By Application Automotive, Consumer Electronics, Healthcare and Medical, Aerospace & Defense, Other.
Some of the companies that are profiled in this report are:
Magnetic Field Calibrator Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Magnetic Field Calibrator Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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