Current Sensor Market to Perceive Substantial Growth During 2021 to 2025 | Allegro MicroSystems, LLC, TDK Corporation (TDK-Micronas GmbH), Infineon Technologies AG, Melexis NV, Honeywell International Inc

Latest research on Current Sensor Market report covers forecast and analysis on a worldwide, regional and country level. The study provides historical information of 2016-2021 together with a forecast from 2021 to 2025 supported by both volume and revenue (USD million). The entire study covers the key drivers and restraints for the Current Sensor market. this report included a special section on the Impact of COVID19. Also, Current Sensor Market (By major Key Players, By Types, By Applications, and Leading Regions) Segment’s outlook, Business assessment, Competition scenario and Trends. The report also gives 360-degree overview of the competitive landscape of the Current Sensor industries.

Current Sensor market is growing at a CAGR of 8% during the forecast period (2021-2025).

The Current Sensor market is highly competitive and consists of a number of major players. Top Companies like Allegro MicroSystems, LLC, TDK Corporation (TDK-Micronas GmbH), Infineon Technologies AG, Melexis NV, Honeywell International Inc., Asahi Kasei Microdevices Corporation, ABB Group, NK Technologies, Tamura Corporation, Vacuumschmelze GmbH & Co KG

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Industry News And Developments:

- December 2019 - Purdue University innovators developed a sensing module that works with machine learning (ML) for applications ranging from electric cars to manufacturing and home design. It is a small and noninvasive sensor that monitors electric currents. In applications such as electric vehicles, include using a resistor as a current sensor or using a non-invasive Hall sensor, which cannot measure small currents. The Purdue team uses a machine-learning algorithm with the sensor to help interpret and gather data such as energy usage, problems with the current, and the best approaches to manufacturing.

- July 2019 - TT Electronics announced an innovative approach for developing customized solutions for the harsh environmental requirements of the aerospace and defense market. Building on the company’s existing range of current sensor modules, this new and highly diverse modular technique leverages Hall-Effect and Rogowski sensors, as well as amplifiers and digital converters. Ambient temperature ranges of -55C to +125C and a 30A to 2000A AC or DC capability make these current sensor modules ideally suited for electrical systems, generators, and motor drive applications. With a generic single-phase configuration, its TRL5 standard circuit boards can be coated, fully potted, built into a housing, or re-configured into a multi-phase product.

Scope of the Report

- Increasing the use of battery-powered and renewable energy applications drives the market. Smartphones, tablets, and other portable devices are requiring increasingly smaller form factors and lower rates of power consumption. A highly accurate, ultra-low-power solution for estimating remaining battery life and for protecting the circuitry and Li+ battery from overcurrent conditions, the requirement of current sensors is a necessity. Open-loop sensors are typically used in battery-powered applications. They require less power than closed-loop sensors and are better able to withstand overloads. According to Leftronic Inc., 2.71 billion people in the world own a smartphone in 2019, and by 2020, the number of smartphone users is projected to reach 2.87 billion. This further drives more demand for current sensors.

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Key Market Trends

Hall Effect Sensors in Automotive Sector to Witness a Significant Growth

- With increase advancement technology in automotive, the trends towards electric vehicle production are highly being recommended in various countries. A complex architectural diagram of an electric car generally incorporates 15-20 current sensors. Other than this, 2-3 current sensors are needed for brushless (BLDC) electric motor control. The EVs of companies like BMW, Volkswagen, etc. use this kind of motor-control-current device.

- Typically, current sensors are found battery current monitoring, solar power inverters, and power inverters that drive traction motors in mid and full hybrid electric vehicles. CMOS Hall-effect based magnetic sensors integrate advanced features and provide high-level output signals functionality. Sophisticated magnetic sensors hold programmable memory and even microcontroller logic allowing for a fully custom calibrated output. Also, it is possible to implement standard interfaces that simplify communication with other circuits in EV.

Asia-Pacific Accounts For Significant Market Growth

- Asia-Pacific is anticipated to account for significant growth. The population growth and rapid urbanization in developing economies, such as China, India, and Japan, have prompted the speedy development in the region, which will boost the demand for the current sensor from end-users such as energy, automotive, telecom and networking, industrial, and healthcare.

- According to the Consumer Electronics and Appliances Manufacturers Association, in India, the appliances and consumer electronics industry is projected to double to Rs 1.48 lakh crore by 2024-25. As players are manufacturing fully integrated and programmable current sensors based on BiCMOS or CMOS technology, with increasing production of consumer electronics, the demand for these current sensors will increase effectively.

- In robots, there are hundreds of sensors made today to sense virtually anything

What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: Current Sensor Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

The research includes historic data from 2015 to 2020 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format

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