Current Sensor Market | Allegro Microsystems, Koshin Electrin, ACEINNA, Asahi Kasei Microdevices, LEM International, Silicon Labs, and Melexis

The current sensor market is witnessing developments in products such as hall effect sensors. The hall effect sensor has gained wide adoption in multiple applications owing to its advantages, such as very low power consumption, which reduces current consumption as low as microamps. These sensors are non-contacting, keeping them wear-free and giving them a long life. Additionally, hall effect sensors can be used in harsh environments and are highly reliable. Their capabilities, such as pre-programmable electric angles and outputs, are increasing their adoption particularly in applications requiring fully integrated and programmable sensors.

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The current sensor market can be hampered by some factors such as manufacturing costs. New technologies, such as hall effect sensors, are comparatively expensive, limiting their adoption and affecting the market growth to some extent. The overall sensors market is highly fragmented and companies are focusing on competitive pricing strategies to gain a higher market share. This has a considerable impact on the profitability in the market, which is another factor hindering the growth of the market.

Current Sensor Market size is expected to have modest growth over the forecast period owing to demand for these sensors in several application areas including battery-operated devices, energy, telecommunication, consumer electronics, industrial, and renewable energy applications. The current sensing has gained vital importance in instrumentation and power systems as it can be used to enhance & monitor the performance of the system.

Major players in the current sensor market :

o Allegro Microsystems
o Koshin Electrin
o ACEINNA
o Asahi Kasei Microdevices
o LEM International
o Silicon Labs
o Melexis

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Arun Hegde
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Global Market Insights, Inc.
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