CURRENT MEASUREMENT SENSOR MARKET TO REACH USD 4.79 BILLION BY 2027 | CAGR 9.6% – FORENCIS RESEARCH

Current Measurement Sensor MarketΒ - Global Industry Analysis and Forecast 2020 to 2027

Global Current Measurement Sensor Market: Key Highlights

  • According to the new market research report Current Measurement Sensor  Market by Type (Isolation ADC, Magnetic Sensor), by Technology (Hall-Effect, MEMS, Anisotropic Magneto Resistance (AMR), Giant Magneto-Resistive (GMR), and Tunnel Magneto-Resistance (TMR)), by End Use Industry (Automotive, Energy & Power, Industrial, Consumer Electronics, Healthcare, Networking & Telecommunication, and Others), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) – Global Forecast (2020 to 2027)”, the global Current Measurement Sensor  market is estimated to reach USD 4.79 Billion by 2027 at a CAGR of around 9.6% during the review period.
  • Current measurement is an important process in many power and instrumentation system. The Current sensor primarily used for circuit control and protection.
  • A current sensor is a device that senses and converts the current to easily measured output voltage. Current sensor is a device that recognize the electric current in a wire whether it is low or high to create an indicator relative to it.

Current Measurement Sensor Market

Global Current Measurement Sensor Market: Key Market Dynamics

  • Increasing demand of electric and hybrid electric vehicles and rising need for renewable energy power generation will drive the current measurement sensor market
  • Moreover, commercialization of IoT sensors will become an opportunity for the current measurement sensor market during assessment period
  • However, technological issues and accuracy over various temperature range will restrain the market during growth period

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Global Current Measurement Sensor Market: Regional Overview

  • Asia-Pacific

Asia-Pacific is expected to hold largest market share in current measurement sensor market during growth period. China, India, Japan, and South Korea will drive the market. Increasing population, growing automotive and manufacturing industry, and increasing demand for industry 4.0 will drive the market in Asia-Pacific. Availability of quality connectivity, matured IT infrastructure, trained manpower with industry 4.0 expertise, supportive government regulations will increase the automotive, energy & power, consumer electronics, and industrial manufacturing market.

  • Europe

Europe is expected to grow at faster rate during the forecast period. Supportive government regulations, increasing electric and hybrid electric vehicles market, and rising healthcare market will drive the market. Germany, France, Switzerland, and Italy will drive the current measurement sensor market in Europe. Moreover, presence of global players such as Infineon Technologies AG and STMicroelectronics will add fuel in the growth of the current measurement sensor market in Europe.    

Global CURRENT MEASUREMENT SENSOR Market: Key Players Overview

  • Infineon Technologies AG:

The company engages in the provision of semiconductor solutions to various end use applications such as automotive, communication, consumer electronics, industrial, and security & solutions among others. The Infineon current sensors provide accurate and stable current measurement up to 120A. The products are intended for use in high-voltage industrial applications such as electric drives, photovoltaic inverters, power supplies or battery management systems. In May 2019, company launched XENSIV TLI4971, a new current sensor for industrial applications

  • Silicon Laboratories:

The company engages in the provision of wireless, microcontrollers, isolators timing, and other products. The company provide isolated analog and ADCs for various broad range of applications such as c-dc switching power supplies, isolated dc-dc supplies, UPS systems, and inverters for motor control. In March 2019, the company launched Si89xx family for current and voltage sensors. This family includes four product categories:  Si892x isolated analog amplifiers optimized for shunt-current sensing, Si8931/2 isolated analog amplifiers optimized for general-purpose voltage sensing, Si8935/6/7 isolated DSM devices optimized for voltage sensing—an industry first, and Si8941/6/7 isolated DSM devices optimized for shunt-current sensing

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Published : 2020-07-27