Current Sensor Market Expected to Reach $2.61 Billion by
2027
“As per the current sensor market trend, rise in adoption of power management system sin data
centers for improved efficiency & speed with reduced power expenditure is anticipated to fuel the
market demand. 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, increasing
their demand in data centers. Moreover, stringent government regulations in relation to control
of data center power consumption is also one of the major factors that influence the current
sensor market growth.”
According to Shantanu Sachan,
Semiconductor and Electronics
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KEY FINDINGS OF THE STUDY
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By type, the open loop segment held the highest revenue of $1,172.4 million in 2019, and
contributed a major part in current sensor market share.
By current sensing technology, the Hall Effect segment held the highest revenue of $676.2
million in 2019.
By end use, the industrial segment held the highest revenue share of the market in 2019,
generating $633.7 million as per the market analysis.
Major key players profiled cover in Report:
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Pulse Electronics
TAMURA CORPORATION
Eaton
ALLEGRO MICROSYSTEMS, INC.
LEM Group and many more.
Market dynamics
Drivers
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Growth in demand for Hall effect technology in current sensor
Adoption of industrial robots boost the demand for market
Increase in trend of hybrid vehicles in automotive industry
Restraints
• Technical issues and high costs associated with current sensors
Opportunities
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Rapid adoption 5G technology increases the demand for closed loop current sensor r
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Analyst Review:
Current sensors, also commonly referred to as current transformers or CTs, are devices that
measure current running through a wire by using magnetic field to detect 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. The current sensors are
used in various industries such as automotive, consumer electronics, and telecommunication.
The global current sensor market is expected to register a significant growth during the forecast
period, owing to development of Hall Effect sensor technology. Furthermore, numerous
advantages of current sensors such as linearity, high accuracy, low power consumption, and wide
frequency bandwidth, which fuel growth of the current sensor market. However, technical issues
and high costs associated with current sensors across the globe hamper the current sensor
market growth.
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