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The Global Magnetic Sensor Market size is expected to reach $2.6 billion by 2023, rising at a market growth of 5.9% CAGR during the forecast period.
Advancements in sensing technologies and growing applications of sensing devices in various industry verticals are the factors that is expected to drive the market growth. Regulations pertaining to installation of magnetic sensors in automobiles and installation of the same in the safety equipment is expected to offer market opportunities during the forecast period.
Magnetic sensors are vital part of navigation systems and are majorly used in automobiles and smartphones. Advanced sensing systems are greatly in demand due to rapid growth in smartphones. Market trends is expected to significantly influence the market growth during the forecast period. Magnetic sensing devices have also found their adoption in used the field of medical R&D and Non-Destructive Testing (NDT).
Machine learning (ML) and artificial intelligence (AI) systems have significantly advanced in recent years. However, they are currently limited to executing only those tasks they are specifically designed to perform and are unable to adapt when encountering situations outside their programming or training.
DARPA’s OFFensive Swarm-Enabled Tactics (OFFSET) program envisions future small-unit infantry forces using small unmanned aircraft systems (UASs) and/or small unmanned ground systems (UGSs) in swarms of 250 robots or more to accomplish diverse missions in complex urban environments.
To perpetuate the pace of innovation and progress in microelectronics technology over the past half-century, it will take an enormous village rife with innovators. This week, about 100 of those innovators throughout the broader technology ecosystem, including participants from the military, commercial, and academic sectors, gathered at DARPA headquarters at the kickoff meeting for the Agency’s new CHIPS program, known in long form as the Common Heterogeneous Integration and Intellectual Property (IP) Reuse Strategies program.