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The global magnetometer market was valued at USD 3.64 billion in 2024 and is expected to grow from USD 3.94 billion in 2025 to USD 7.75 billion by 2032, registering a compound annual growth rate (CAGR) of 10.2% during the forecast period. North America held the largest market share in 2024, driven by extensive use of advanced magnetometer systems in defense, space exploration, and industrial sectors.
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