Global Current Sensor Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

“Global Current Sensor Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global current sensor market report has been segmented on the basis of type, end user, and region.

Global Current Sensor Market: Overview

Current sensor is used for detecting and converting electrical signal to receive output voltage proportional to the current in the wire. When current passes through the circuit, there is voltage drop across the path and magnetic field is generated near current carrying conductor. Current sensor is designing technique and conventional method for current sensing.

Global Current Sensor Market: Dynamics

Increasing use of current sensors in renewable energy equipments, coupled with battery-powered solutions are major factor driving growth of the global current sensor market. Increasing demand for hall-effect current sensor in industrial sector is another factor fueling growth of the target market. Furthermore, growing adoption of industrial internet of things and Internet of things applications is a factor expected to support growth of the global current sensor market over the forecast period

However, current sensor introduces supplementary resistance in circuit path which may affect output resistance is a factor that could affect usage current sensor. Nevertheless, growing adoption in automotive electronic control systems can create high revenue opportunities for key players in the target market.

Global Current Sensor Market: Segment Analysis

Among the type segments, the magnetic current sensors segment is expected to register high growth in terms of revenue over the forecast period. Increasing adoption of magnetic current sensors segment for various applications in automotive sector such as electronic power steering system, hybrid electric vehicle converter, motor control, and many more is a factor driving growth of this segment in the target market.

Among the end user segments, the energy segment is expected to register fastest high growth in terms of revenue over the forecast period. Increasing use of renewable energy sources such as wind power, solar power for production of electricity, coupled with increasing trend for smart homes are factors supporting growth of this segment in the global market. The automotive segment dominates the global market in terms of revenue and expected to maintain its position in the near future. Increasing adoption of hybrid and electrical vehicles among end users, owing to growing concerns regarding carbon emission is a factor expected to augment growth of the automotive segment in the global current sensor market.

Global Current Sensor Market: Regional Analysis

Market in North America is expected to accounts for major share in terms of revenue over the forecast period. Increasing demand of current sensors in industries such as automotive, energy, healthcare, and telecommunication in countries such as China, India, and Japan in this region is a factor driving growth of the target market. In addition, growing consumer electronics sector, owing to availability of low cost labor and raw materials are factors fueling growth of the target market in this region. Market in North America is anticipated to register lucrative growth in terms of revenue in the near future, followed by Europe.

Global Current Sensor Market Segmentation:

Segmentation by Type:

• Non-Isolated Current Sensors
  • Analog-To-Digital Converters
  • Current Sensing Amplifiers
• Isolated Current Sensors
  • Shunt-Isolated Op Amp
  • Opto-Isolated Op Amp
  • Magnetic Current Sensors
    • TMR Sensors
    • AMR Sensors
    • GMR Sensors
    • Fluxgate Sensors
    • Hall Effect Current Sensors

Segmentation by End User:

• Healthcare
• Automotive
• Energy
• Telecom and Networking
• Consumer Electronics
• Industrial
• Others

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa