Current sensors, also commonly referred to as current transformers or CTs, are devices that measure the current running through a wire by using a magnetic field for detection of the current and generate a proportional output. They are used with both AC and DC current. They are used in various applications such as motor driving circuits and inverter circuits. Current sensors are used in various industries such as automotive, consumer electronics, telecommunication.
Rise in adoption of power management system in data centers for improved efficiency & speed with reduced power expenditure fuel the market demand. The 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, increase their demand in data centers. Moreover, stringent government regulation in relation to the control of data center power consumption is also one of the major factors that influence the current sensor market growth.
The adoption of industrial robots and the increase in the 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 current sensor market growth. On the contrary, the rapid adoption of 5G technology increases the demand for closed loop current sensors, which is expected to create lucrative opportunities for the current sensor market.
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 market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players that have major global current sensor market share include Infineon Technologies, Honeywell International Inc., Texas Instruments, Allegro MicroSystems, LLC, Tamura Corp., TDK Corporation, LEM International SA, Pulse Electronics, Eaton Corporation PLC, and Sensitec GmbH, which are profiled in this report. The global current sensor industry key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence market growth.
CURRENT SENSOR MARKET SEGMENTATION
By Type
- Open loop
- Closed loop
By Current Sensing Technology
- Hall Effect
- Current Transformer
- Flux Gate
- Rogowski Coil
By End User
- Automotive
- Consumer Electronics
- Industrial
- Telecommunication
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Companies
- Infineon Technologies
- Honeywell International Inc.
- Texas Instruments
- Allegro MicroSystems, LLC
- Tamura Corp.
- TDK Corporation
- LEM International SA
- Pulse Electronics
- Eaton Corporation PLC
- Sensitec GmbH
Table of Contents
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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