Advancements in Current Sensor Technology: Implications for the Market

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MarketsandMarkets Presents
The Global Current Sensor Market is expected to
grow from USD 2.3 billion in 2021 to USD 3.8
billion by 2026 it is expected to grow at a CAGR
of 10.8 during 20212026. Key factors fueling
this markets growth include growing use of
battery-powered systems and increasing focus on
renewable energy, high adoption of Hall-effect
current sensors, and increasing demand in
consumer electronics industry. Deployment of IoT
and IIoT with current sensors and increasing
manufacturing of hybrid and electric cars create
a strong demand for current sensor for efficient
industrial operations in the midst of COVID-19.
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MarketsandMarkets Presents
Isolated Current Sensor is expected to gain a
significant share of Current Sensor Market by
2026 The Isolated Current Sensor is expected to
account for the larger share of the Current
Sensor Market by 2026. The growth of the segment
can be attributed to the increasing demand for
magnetic current sensors worldwide due to their
usability in a wide range of applications.
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MarketsandMarkets Presents
Isolated Current Sensor is expected to gain a
significant share of Current Sensor Market by
2026 Moreover, the isolation of current sensing
circuitry is needed for technical and regulatory
reasons in many applications, such as
line-operated industrial and commercial motors,
electric/hybrid electric vehicles (EVs/HEVs),
solar arrays, home energy metering, and many
other less-visible applications, where high
voltages and currents are common. Download PDF
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MarketsandMarkets Presents
Based on End User, consumer electronics to
witness the highest CAGR in Current Sensor Market
during 20212026 The Current Sensor Market for
consumer electronics segment is expected to grow
with the highest CAGR during the forecast period.
The consumer electronics segment includes home
appliances, smartwatches, tablets, smartphones,
etc. Sensors play an important role in improving
the performance of a range of consumer electronic
devices and creating effective humanmachine
interfaces. As technologies used in consumer
electronics are evolving, smart consumer
electronics devices are being manufactured,
thereby leading to an improved lifestyle of
people. Current sensors are expected to witness
high adoption in consumer electronic devices in
the coming years.
5
MarketsandMarkets Presents
Current Sensor Market in APAC to grow at the
highest CAGR during the forecast period The
Current Sensor Market in APAC is expected to grow
at the highest CAGR during the forecast period
attributed to the increased use of these sensors
in the automotive, building automation, energy,
and manufacturing industries. APAC is one of the
important regions for the automotive industry due
to increased passenger car manufacturing and
sales in various countries such as China, Japan,
and South Korea. The growing adoption of isolated
current sensors for electric and hybrid vehicles
in the automotive industry is driving the growth
of the market for current sensors in APAC.
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MarketsandMarkets Presents
Key Players Key Players in the market include
Asahi Kasei Microdevices (AKM) (Japan), ACEINNA
(US), Melexis (Belgium), Allegro MicroSystems
(US), TDK Corporation (Japan), LEM International
(Switzerland), Infineon Technologies (Germany),
Tamura Corp. (Japan), Texas Instruments (US), and
Honeywell (US). Browse For More Details -
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urrent-sensor-market-26656433.html
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MarketsandMarkets Presents
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