Hall-Effect Current Sensor Market Pit Falls and Growth Prospects by 2024

1
Hall-Effect Current Sensor Industry, Business
Development Analysis by 2024 Global Market
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Fuel Cell Market size worth 25.5bn by 2024
2
Regional Analysis of Hall-Effect Current
Sensor Market

• The Asia Pacific hall-effect current sensor
  market is projected to dominate the industry over
  the forecast timespan. This growth can be
  attributed to the increasing need for power
  management in growing economies including Japan,
  South Korea, India, and China.
• The expanding cloud connectivity systems have led
  to the increasing adoption of Industrial Internet
  of Things (IIoT) based devices in this region.
  The rise in the number of consumer electronics
  and automotive industries in Asia Pacific is
  propelling the industry growth.

3

• Application Analysis of Hall-Effect Current
  Sensor Market
• The hall-effect current sensor market is
  segmented into open-loop and closed loop. The
  closed-loop devices are projected to grow at a
  high rate owing to their applications in critical
  industries such as aerospace, defense,
  automotive, and medical. Features such as higher
  accuracy and faster response time have led to an
  increase in the adoption. Open loop systems are
  prone to temperature drift saturation and are
  less immune to electrical noise as compared to
  closed-loop sensors.
• By end-use, the hall-effect current sensor market
  is classified as automotive, industrial
  automation, consumer electronics, medical,
  utilities, aerospace defense,
  telecommunication, and railways. Due to various
  applications of the devices in the automotive
  industry, such as current measurement for
  overcurrent protection, control of motor drives,
  battery management, and converter control, they
  are significant in the automotive industry.
  Increasing number of automotive industries in
  emerging economies, such as China and India,
  contribute to the hall-effect sensor market
  growth. The rising demand for eco-friendly hybrid
  vehicles in the automotive sector also
  contributes towards the growth. Moreover, they
  are utilized in consumer electronics
  applications, such as in digital cameras,
  household appliances, and electronic instruments.

4
Competitive Market Share of Hall-Effect Current
Sensor Market

• Companies operating in the hall-effect current
  sensor market are American Aerospace Controls,
  ABB Ltd., Magnesensor Technology, Sanken Electric
  Company Ltd., Honeywell International, Inc.,
  Vacuumschmelze GmbH Co., KG, Pulse Electronics
  Corporation, Infineon Technologies AG, Kohshin
  Electric Corporation, Asahi Kasei Microdevices
  Corporation, HARTING Technology Group, Melexis
  NV, and Electrohms Private Limited.
• The growing competition among these players to
  introduce new products with advanced technologies
  is providing impetus to the hall-effect current
  sensor market.

5

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