Current Sensor Market To Witness Heightened Revenue Growth During Forecast Period 2022 – 2031 : Fact.MR

ICT companies are extensively adopting technologies such as cloud computing and artificial intelligence to ensure seamless operations as teams continue working from home. Focus on fast automation, use of real-time operation within various end-use sectors such as automotive, food & beverage and others will provide stimulus to the growth. The report offers actionable and valuable market insights of Isolated Current Sensor. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Isolated Current Sensor Market across various industries and regions.

The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Isolated Current Sensor market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Isolated Current Sensor This newly published and insightful report sheds light on Market Insights of Isolated Current Sensor, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Isolated Current Sensor MarketThe study offers comprehensive analysis on diverse features, including demand, product developments, policy & regulatory landscape, revenue generation, and sales in the current sensor market across the globe.

A comprehensive estimate on the current sensor market has also been considered through an optimistic scenario as well as a conservative scenario regarding the sales of current sensors during the forecast period. Price point comparison by region with global average price has also been considered in the study.

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Current Sensor Market: Segmentation

Fact.MR has studied the current sensor market with detailed segmentation on the basis of sensor type, sensing method, circuit type, end-use vertical, and key regions.

Sensor Type

  • Hall Effect
  • Open Loop
  • Split
  • Solid
  • Coreless
  • Closed Loop
  • Split
  • Solid
  • Coreless
  • Rogowski Coils

Sensing Method

  • Direct Current Sensing
  • Indirect Current Sensing

Circuit Type

  • Isolated
  • Non-Isolated

End-use Vertical

  • IT & Telecom
  • Consumer Electronics
  • Automotive
  • Industrial Automation
  • Healthcare
  • Energy & Utilities
  • Other

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

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Key Takeaways from Current Sensor Market Study

  • The global current sensor market is expected to create a value opportunity of around US$ 2.7 Bn during the forecast period, adding 2.5X more value in 2030 as compared to 2020.
  • The direct sensing-based current sensors segment will continue to dominate demand, accounting for more than three-fourth of the global share.
  • The isolated circuit-based current sensors segment is set to grow at a higher rate, facilitated by mounting demand for IoT applications and advancements in the automotive industry, over the forecast period.
  • The global current sensor market is expected to witness a rise in emerging countries such as India, China, and Brazil, owing to increasing focus towards digitalization and industrial automation.
  • East Asia is estimated to be the most lucrative market in terms of revenue generation, currently valued at US$ 510 Mn, and is expected to experience prolific expansion over the forecast period.
  • Current sensors used in industrial automation and consumer electronics will continue their dominance, accounting for more than half of the market share in North America by 2030, at a growth rate of 7% over the forecast period.
  • The COVID-19 pandemic has resulted in lockdowns and trade restrictions across the world, which has affected both, the demand and supply of current sensors. This will adversely affect market growth in the near term.

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Key Players to Focus on Product Innovation and Regional Expansion

Prominent players in the current sensor market are focusing on innovation of products through increased R&D expenditure. Numerous companies in the semiconductor industry file for patents, and many have been granted associated patents. These patents with respect to innovation help companies protect their intellectual rights and create a USP in this highly competitive market. Furthermore, companies are doing vertical integration to enjoy full profit of the value chain and increase their product portfolio. For instance, in 2019, Texas Instruments introduced the industry’s smallest current-sense amplifier in a leaded package, and the smallest, most accurate comparators. The INA185 current sense amplifier achieves high precision in less space and maintains high performance. Other prominent players in the current sensor market include Infineon Technologies AG, Honeywell International Inc., Texas Instruments Inc., TDK Corporation, Silicon Laboratories Inc., Tamura Corporation, Melexis NV, Asahi Kasei Microdevices Corporation, and Allegro MicroSystems LLC.

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