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Hall-Effect Current Sensor Market Size will Grow at a Lucrative CAGR through 202
Hall Effect current sensors can be used to measure DC current, AC current, and even pulsed current waveforms. Transducers are designed to sense the primary current flowing through them and provide an output signal that is proportional to the measured primary current. In an open-loop type sensor, the output is a scaled (polarity and magnitude) voltage level. In a closed-loop type sensor, the output is a scaled (polarity and magnitude) current level. Applications for Hall Effect current transducers include battery management circuits, battery chargers, arc welders, uninterruptible power supplies (UPS), and inverters.
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The Hall effect current sensor market is expected to expand at a higher growth rate in the near future due to the increasing usage of fully integrated and programmable current sensors, technological advancements of different technologies in market, advantage of galvanic isolation-based Hall effect current sensors, and the increasing demand for intelligent Hall effect current sensors.
The industrial segment witnesses a rising need for current measurement, which has created a demand for Hall Effect current sensors. Industrial automation is expected to hold a major share of the global hall-effect current sensor market. There are different departments in automation industry where current sensors are utilized such as solar inverters, machinery, conveyor belts, robots, motor current sensing, solar panel tracking, moving cranes, and even in smart metering.
Key drivers of the hall-effect current sensor market include new technological advancements and increased usage and demand for programmable and integrated sensors. Different advantages isolation-based galvanic hall-effect current sensors. The most important sensor driving this market is intelligent hall-effect current sensors. The development strategies implemented by the players operating in the hall-effect current sensors market, such as contracts and agreements, partnerships, product developments and expansions; increases demand for intelligent Hall-Effect sensors and as open-loop current sensors provides different advantages such as protection of devices from over current and control of motor drives. However, the major restraining factor affecting the market is the demand for low-cost hall-effect current sensors, as it provides various advantages and facilities, the manufacturing cost is high.
The hall-effect current sensor market can be segmented based on output, type, technology, industry, and geography. Based on output, the market is segregated into linear and threshold. In terms of technology, the market can be segmented into BiCMOS and CMOS. Based on type, the hall-effect current sensor market can be segmented into open loop current sensor and closed-loop current sensor. Furthermore, in terms of industry, the hall-effect current sensor market can be categorized into automotive, consumer electronics, telecommunication, utilities medical, railways and aerospace & defense. Based on geography, the market is also segmented into Asia Pacific (APAC), North America, Europe, and Rest of the world (ROW)
The open-loop current sensor segment is expected to hold a prominent share of the hall-effect current sensor market during the forecast period, as open-loop current sensor provides protection for devices from overcurrent and manages power including control of motor drives, current control, battery management, converter control and overcurrent protection for automotive industry, the open-loop current sensor segment is expected to hold a larger share of the overall hall-effect current sensor market. Moreover, the demand for the sensor is increasing due to its compact size. Its Open-loop current sensor also provides AC/DC and impulse current measurement, high level of electric isolation between primary and secondary circuits, low power consumption, and large primary aperture.
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The key players operating in the hall-effect current sensor markets are ABB Ltd., Allegro Microsystems, Llc. (Sanken Electric Co., Ltd.), American Aerospace Controls, Asahi Kasei Microdevices Corporation, Electrohms Pvt Ltd, Honeywell International Inc., Infineon Technologies Ag Kohshin Electric Corporation, Lem Holding Sa, Magnesensor Technology (Mst), Melexis Nv, Pulse Electronics Corporation, Stmicroelectronics N.V.,TDK Corporation, and Vacuumschmelze Gmbh & Co.
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