Position measurement sensor using magnetoresistive technology discussed in this app note from Analog Devices. Link here (PDF)
Anisotropic magnetoresistive (AMR), thin film materials are becoming increasingly important in today’s position sensing technologies. Magnetoresistive (MR) position measurement has many advantages over traditional technologies. Reliability, accuracy, and overall robustness are the primary factors contributing to the development of MR sensing technologies. Low cost, small relative size, contactless operation, wide temperature range, dust and light insensitivity, and operation over a wide magnetic field range all lead to a robust sensor design.