Current Sensor Market Share Estimated to Grow with a Healthy CAGR During Period 2020-2030

Posted by sneha patil on February 3rd, 2023

Current Sensor Market Highlights

Current sensors are used to detect and measure alternating and/or direct current in an electronic circuit using Hall effect sensing, and giant magnetoresistive sensitive technology. The current sensors find a variety of applications in power management devices, current supplies, inverters in electric vehicles, and battery-powered devices. Open loop current sensors integrated with Hall effect sensing technology are widely used for sensing current and offer the ability to work in low power mode. Manufacturing and consumer electronics are the largest end-users of current sensors. However, the automotive industry is expected to register the highest CAGR during the forecast period.

Current Sensor Market Key Players

The key players in the current sensor market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are Pulse Electronics Corporation (US), Honeywell International Inc. (US), Tamura Corporation (Japan), Melexis NV (Belgium), Vacuumschmelze GmbH & Co. KG (Germany), Infineon Technologies AG (Germany), Phoenix Contact (Germany), Texas Instruments, Inc. (US), Allegro MicroSystems, LLC (UK), and AKM Semiconductor Inc (US).

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Current Sensor Market Segment Overview

According to the current sensor market, the segmentation has been based upon the current type and the technological application that digitized the current sensor. Further, the current type has analyzed that the Current Sensor Market has been segmented on the basis of the alternating current and direct current technology. Apart from that, the direct type established that the Current Sensor Market has been segmented on the half effect sensing of the current as well as the giant magnetic current sensation. Therefore, the automotive sensor has been further segmented into the computer blade that serves the power supply. Hence, the region, or rather the marketing has been based upon the segmentation of the rest of the world. The monitoring of the power segment has been analyzed by the computer blades within the server and it acknowledges the high demand for the analysis

Regional Analysis

The market for current sensor is estimated to grow at a significant rate during the forecast period from 2019 to 2024. The geographic analysis of the current sensor market has been studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East & Africa, and South America). According to MRFR analysis, Asia-Pacific is expected to grow with the highest rate during the forecast period. The market growth in Asia-Pacific is high due to the increasing concentration of end-users such as consumer electronics and automotive industries. In addition, Asia-Pacific is at the forefront of digital transformation in semiconductor & electronics industry which impacts the production of power-efficient devices. The production of power efficient devices for consumer, automotive, and industrial applications has further increased the need for current measurement and ultimately the increased production of current sensors. Additionally, China, Taiwan, and Japan are among the largest exporters of electronic components in the Middle East & Africa and Europe. On the other hand, North America is estimated to continue dominating the current sensor market during the forecast period owing to the major contribution from the US and Mexico.

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sneha patil

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sneha patil
Joined: December 28th, 2020
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