Allegro Microsystems Takes Leadership Position in Magnetic Sensor Market

Allegro Microsystems holds a leading position in the magnetic sensor market with a market share of 23% in 2023. The company has a strong presence in automotive and industrial applications and has a broad technology portfolio. The magnetic sensor market is mainly dominated by the automotive and mobile sectors and is expected to reach a market value of $2.3 billion in 2029. The electrification and sensorization of vehicles are driving this growth.