Global Current Sensor Market 2024-2028
The current sensor market is forecasted to grow by USD 1.79 bn during 2023-2028, accelerating at a CAGR of 10.37% during the forecast period. The report on the current sensor market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rise in adoption of energy-efficient solutions, increasing demand for high-precision current measurement in semiconductor manufacturing processes, and growing integration of current sensors in industrial automation equipment and internet of things (IoT) devices.
Technavio's current sensor market is segmented as below:
By Type
- Open loop current sensors
- Closed loop current sensors
By Technology
- Hall effect
- Current transformer
- Flux gate
- Rogowski coil
By Geographical Landscape
- APAC
- North America
- Europe
- South America
- Middle East and Africa
This study identifies the rise in focus on industry 4.0 and smart manufacturing as one of the prime reasons driving the current sensor market growth during the next few years. Also, technological advancements in sensor design and rise in adoption of EVs and renewable sources will lead to sizable demand in the market.
The report on the current sensor market covers the following areas:
- Current sensor market sizing
- Current sensor market forecast
- Current sensor market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading current sensor market vendors that include ABB Ltd., ACEINNA Inc., Allegro MicroSystems Inc., Analog Devices Inc., CR Magnetics Inc., Eaton Corp. Plc, Honeywell International Inc., Infineon Technologies AG, LEM Holding SA, Melexis NV, Methode Electronics Inc., Mitsubishi Electric Corp., Ning Bo Sinomags Electronic Technology Co Ltd., NK Technologies, ROHM Co. Ltd., STMicroelectronics International N.V., Tamura Corp., TDK Corp., Texas Instruments Inc., and Yageo Corp.. Also, the current sensor market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.