Electronic Device Magnets Market Overview 2024-2028: Expected Market Size, Major Growth Drivers And Leading Segments As Per The Business Research Company’s Electronic Device Magnets Global Market Report 2024

The global market reports from The Business Research Company have been updated with the most recent market sizing data for 2024 and projections extended to 2033

LONDON, March 28, 2024 (GLOBE NEWSWIRE) — As per The Business Research Company’s Electronic Device Magnets Global Market Report 2024, the electronic device magnets market has experienced remarkable growth in recent years, driven by various factors such as the proliferation of personal and mobile computing, the emergence of hybrid work models, and the increasing demand for consumer electronics.

Market Growth and Projections

According to recent electronic device magnets market analysis, the electronic device magnets market size surged from $24.68 billion in 2023 to an estimated $27.33 billion in 2024, representing a robust compound annual growth rate (CAGR) of 10.8%. Looking ahead, the electronic device magnets market is poised for further expansion, with projected revenues reaching $39.04 billion by 2028, growing at a CAGR of 9.3%.

Learn More In-Depth On The Electronic Device Magnets Market


Drivers of Growth

Forecast Period (Upcoming Trends)

In the forecast period, the electronic device magnets market is expected to thrive due to:

  • Hybrid work models
  • Advancements in artificial intelligence (AI) and machine learning (ML)
  • Focus on employee wellbeing
  • Integration of virtual and augmented reality
  • Cybersecurity challenges and solutions

Major Trends

The electronic device magnets market is characterized by several notable trends that are shaping its future trajectory:

  • Technological convergence and integration
  • Data privacy and governance
  • Enterprise digital transformation
  • Shift towards cloud-based end-user computing (EUC) solutions
  • Adoption of unified endpoint management

Impact of Consumer Electronics

One significant driver of electronic device magnets market growth is the escalating demand for consumer electronics. These devices, including smartphones and laptops, rely on electronic device magnets for various functionalities such as speaker audio, sensor operation, and secure device closures. For instance, the resurgence in global sales of smartphones in Q1 2021 indicates a substantial market opportunity for electronic device magnets.

Major Players and Innovation

Several prominent companies are at the forefront of driving innovation in the electronic device magnets market. These include:

  • Shin-Etsu Chemical Co. Ltd.
  • TDK Corporation
  • Hitachi Metals Ltd.
  • Niron Magnetics (pioneering clean earth magnet technology)
  • And many others

Segment Analysis

The electronic device magnets market is segmented based on product type, material type, and end-user industry. Key segments include:

  1. Product Type: Ferrite Magnets, Neodymium Magnets, Samarium Cobalt Magnets, Alnico Magnets
  2. Material Type: Permanent Magnets, Electromagnets
  3. End User: Consumer Electronics, Aerospace and Defense, Industrial and Automation, Healthcare, Automotive, Energy, Consumer Goods, Others

Get A Free Sample Of The Global Electronic Device Magnets Market Report


The electronic device magnets market is witnessing robust growth, driven by a confluence of technological advancements, shifting consumer preferences, and evolving industry landscapes. With the proliferation of consumer electronics and the emergence of innovative magnet technologies, the market presents significant opportunities for companies to innovate and capitalize on emerging trends. As the market continues to evolve, proactive adaptation to changing dynamics will be crucial for companies aiming to maintain a competitive edge in this dynamic industry landscape.

Electronic Device Magnets Global Market Report 2024 by The Business Research Company provides insights on the electronic device magnets market size, electronic device magnets market segments, electronic device magnets market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.

The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Check Out Similar Market Intelligence Reports By The Business Research Company:

Permanent Magnet Global Market Report 2024


Superconductors Global Market Report 2024


Electronic And Precision Equipment Repair And Maintenance Global Market Report 2024


Learn More About The Business Research Company

The Business Research Company is a market intelligence firm pioneering in company, market, and consumer research. With offices all around the world, TBRC has specialist consultants in a variety of fields, including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model – World’s Most Comprehensive Database

The Business Research Company’s flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.

CONTACT: The Business Research Company Europe: +44 207 1930 708 Asia: +91 8897263534 Americas: +1 315 623 0293 Email: info@tbrc.info Follow us on: LinkedIn: https://in.linkedin.com/company/the-business-research-company Twitter: https://twitter.com/tbrc_info Facebook: https://www.facebook.com/TheBusinessResearchCompany YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ Blog: https://blog.tbrc.info/ Healthcare Blog: https://healthcareresearchreports.com/ Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. SingaporeOutlook.com takes no editorial responsibility for the same.