Current Sensor Market: Size, Share, Growth | Trends & Analysis 2020-2027

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Current Sensor Market
As per the current sensor market trend, rise in
adoption of power management system sin data
centers for improved efficiency speed with
reduced power expenditure is anticipated to fuel
the market demand. Current sensors integrated
with backup power systems such as inverters and
UPS systems enable protection of battery at the
stage of charge and offer efficiency, increasing
their demand in data centers. Moreover, stringent
government regulations in relation to control of
data center power consumption is also one of the
major factors that influence the current sensor
market growth.
Shantanu SachanLead Analyst, Semiconductor and
Electronics at Allied Market Research
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Current Sensor Market
A current sensor is a device that detects
electric current in a wire and generates a signal
proportional to that current. The generated
signal could be analog voltage or current or a
digital output. These are categorized in open
loop and closed loop and use technologies such as
Hall-effect, Rogowski effect, and flux gate.
Current sensors are used in various industries
such as consumer electronics and
automotive. According to a recent report
published by Allied Market Research, titled,
Current Sensor Market by Type, Current Sensing
Technology, And End Use Opportunity Analysis and
Industry Forecast, 2020-2027, the global current
sensor industry size was valued at 1.65 billion
in 2019, and is projected to reach 2.61 billion
by 2027, growing at a CAGR of 6.3 from 2020 to
2027. Growth in demand for Hall Effect
technology in current sensor, adoption of
industrial robots, and increase in trend of
hybrid vehicles in the automotive industry drive
the current sensor market growth. However,
technical issues and high costs associated with
current sensors across the globe hamper the
market growth. On the contrary, rapid adoption of
5G technology increases demand for closed loop
current sensors, which is expected to create
lucrative opportunities for the current sensor
market. 
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Current Sensor Market
The rise in implementation of latest developing
technologies, such as Industrial Internet of
Things (IIoT) and cloud-computing, has created
high demand for industrial robots in
manufacturing, particularly in countries such as
China and South Korea which has in turn created
current sensor market demand. These industrial
robots require current sensing applications for
circuit, DC motors, and servos that measure
accurate power requirement and functionality of
robots. Therefore, the growth in adoption of
industrial robots increases the current sensor
market demand. The COVID-19 outbreak has
currently restrained the research development
activities in the electronics semiconductor
industry and has led to shutdown of several
manufacturing facilities globally. The shortage
or unavailability of raw materials and components
due to supply chain disruption has hindered the
production capacity of sensor manufacturers.
Further, decline in purchase capability among
consumers due to uncertain economy and decrease
in the adoption of electric vehicles will further
hinder the market growth. The global current
sensor market is segmented on the basis of type,
current sensing technology, end use, and region.
On the basis of type, the market is bifurcated
into open loop and closed loop. By current
sensing technology, the market is classified into
hall effect, current transformer, flux gate, and
Rogowski coil. On the basis of end use, it is
divided into automotive, consumer electronics,
industrial, telecommunication, and others. Region
wise, the current sensor market trends are
analyzed across North America, Europe,
Asia-Pacific, and LAMEA. 
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Current Sensor Market

• Key Findings Of The Study
• By type, the open loop segment held the highest
  revenue of 1,172.4 million in 2019, and
  contributed a major part in current sensor market
  share.
• By current sensing technology, the Hall Effect
  segment held the highest revenue of 676.2
  million in 2019.
• By end use, the industrial segment held the
  highest revenue share of the market in 2019,
  generating 633.7 million as per the market
  analysis.
• By region, Asia-Pacific is expected to dominate
  the market, garnering a major share during the
  forecast period.

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Current Sensor Market

• Major Companies
• Atotech Deutschland GmbH,
• ARC Technologies, Inc.,
• MacDermid, Inc.,
• KC Jones Plating Company,
• Okuno Chemical Industries Co., Ltd.
• COVENTYA International, C.
• Uyemura Co., Ltd.,
• Nihon Parkerizing Co., Ltd.,
• ERIE PLATING COMPANY,
• Bales Metal Surface Solutions (Bales)

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Current Sensor Market
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