Use of magnetic sensors is rapidly expanding, driven by user demands in automotive, industrial, military/aerospace and consumer applications. Initially, magnetic sensors were developed and used almost exclusively for navigation and tracking purposes, mostly in the military/aerospace and industrial arenas. A key factor in selecting the right type of sensor is cost. Some manufacturers foresee costs for their chips at less than a dollar for consumer electronic items like mobile phones. Another crucial parameter is sensitivity. Designing a magnetometer with a wider bandwidth can alleviate noise sensitivity levels. The GMR effect discovered in the late 1980s is actually a quantum effect. GMR sensors utilize the quantum nature of electrons that have two spin states, up and down. Conducting electrons with spin direction parallel to the sensor film's magnetic orientation move easily and thus produce low electrical resistance.