Current Sensor Market Size By Type (Closed Loop, Open Loop), By Technology (Micro-Electromechanical System (MEMS), Hall Effect, Shunt, Fluxgate, Magneto Resistive), By End Use (Automotive, Consumer Electronics, Industrial, Healthcare, Telecommunication), By Application (Motor Drive, Converter & Inverter, Battery Management, Uninterrupted Power Supply (UPS) & Switched-Mode Power Supply (SMPS)), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Jul 2020  |  Report ID: GMI4120  |  Authors: Preeti Wadhwani, Shubhangi Yadav

Report Format: PDF   |   Pages: 670   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Current Sensor Market size exceeded USD 2 billion in 2019 and is poised to grow at around 6% CAGR between 2020 and 2026. The industry shipments are projected to reach 3 billion unit by 2026.
 

Rising adoption of power management system in data centers to improve the efficiency & speed and reduce the power cost will fuel the market demand. The current sensors integrated with inverter and UPS systems enable the protection of battery stage of charge and offer a high level of efficiency, driving their demand in data centers. Moreover, stringent government regulation regarding the control of data center power consumption is also one of the major factors influencing the current sensor market growth.
 

Current Sensor Market
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The COVID-19 outbreak is currently restraining the research & development activities in the electronics & semiconductor industry and has led to shutdown of several manufacturing facilities worldwide. The unavailability of raw materials and components due to supply chain disruption has hindered the production capacity of sensor manufacturers. Also, decline in buying capability among consumers and decrease in the adoption of electric vehicles will further hinder the market growth. However, the post-COVID-19 impact will boost the development of autonomous technologies, such as industrial robots and autonomous electric cars, accelerating the market growth in the coming years.
 

Current Sensor Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 2 Billion (USD)
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 6.0% 2026 Value Projection: 3.5 Billion (USD)
Pages: 670 Tables, Charts & Figures: 1382
Geographies covered (16): U.S., Canada, UK, Germany, France, Italy, Spain, Russia, China, India, Japan, South Korea, Australia, Brazil, Mexico, GCC
Segments covered: Type, Technology, Application, End-use, Region
Companies covered (20): Aceinna, Allegro Microsystems, LLC., Asahi Kasei Microdevices Corporation, Honeywell International Inc., Infineon Technologies AG, KOHSHIN ELECTRIC CORPORATION, Littelfuse, Inc., Melexis, NVE Corporation, Omron Corporation, ROHM CO. LTD., Sensitec GmbHs, Silicon Laboratories, STMicroelectronics N.V. , TAMURA Corporation, TDK Corporation, TE Connectivity, Texas Instruments Incorporated, VACUUMSCHMELZE GmbH & Co. KG, Vishay Intertechnology, Inc.
Growth Drivers:
  • Growing adoption of Hall effect technology in current sensor
  • Commercialization of industrial automation and IIoT
  • Flourishing automotive electronics component manufacturing in India
  • Increasing demand for hybrid and electrical vehicles globally
  • Rising trend toward renewable energy in power generation
  • Growing adoption of power management system in data centers
Pitfalls & Challenges:
  • Technical issues and high costs associated with current sensors

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Ongoing technological advancement in Hall effect-based sensors is expected to propel the market growth

The Hall-effect current sensors held a market share of over 45% and is anticipated to register around 6% growth during the forecast period. The growth is majorly attributed to ongoing technological development in Hall-based current sensor such as coreless technology. This helps sensor manufacturers to reduce the Bill of Material (BOM) and design size, increasing their integration in several industry verticals.
 

The Hall effect technology also offers several advantages such as high accuracy, linearity, wide frequency bandwidth, and low power consumption. Industry leaders are focusing on BiCMOS architecture and galvanic isolation-based technology for advancements in Hall effect technology. The intelligent & programmable Hall effect sensors find applications in industrial robots, traction motor invertors, smart batteries, and smart fuse devices. The rising development in coreless sensors and demand for programmable sensors in industrial automation will drive the adoption of Hall effect technology in the market.
 

Proliferation of 5G technology will increase the demand for closed loop current sensor

U.S. Current Sensor Market

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The closed loop current sensor market accounted for over 60% revenue share in 2019 and is predicted to expand at a CAGR of more than 6% through 2026. These sensors offer high accuracy, low temperature drift, and fast response time in several industrial and commercial applications. These sensors can easily convert the output into voltage, which increases their integration in the telecom sector for high bandwidth and development of network infrastructure.
 

The emerging 5G technology developments in the U.S. and other developed nations will bring infrastructure deployments ranging from servers, base-stations, distributed antenna system to UPS, SMPS, and telecommunication power supplies. This will drive the market for closed loop current sensors in near future.
 

The closed loop sensor segment is gaining high popularity in the telecom industry for linear flow of current in circuits and servers. These sensors are heavily adopted at base stations for Uninterrupted Power Supplies (UPS) and Switch-Mode Power Supplies (SMPS) to measure alternating (AC), direct (DC), and impulse current.
 

Adding to this, closed loop sensors are immune to electrical noise, which offers stable current flow in the electrical systems such as at Power Distribution Unit (PDU), Computer Room Air Conditioning (CRAC) units, and power supplies, further propelling the market growth.
 

Surge in industrial robots will boost the adoption of motor drives

China Current Sensor Market

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The motor drives current sensor demand was over USD 800 million in 2019 and is expected to cross USD 1 billion by 2026 led by increasing demand from industrial assets such as industrial pumps, fans, blowers, and robots. The rising implementation of technologies, such as Industrial Internet of Things (IIoT) and cloud-computing, has boosted the demand for industrial robots in manufacturing, particularly in countries such as China and South Korea adding an opportunity for the current sensor market. These industrial robots require current sensing applications for circuity, DC motors, and servos that measure accurate power requirement and functionality of robots.
 

The rising trend toward industrial automation is one the major trends propelling the demand for industrial robots in the manufacturing sector. This will increase the demand for motor drive, allowing robots to be battery-powered and helping to drive heavy loads in the starting position with proper flow of current.
 

Rising demand for eco-friendly hybrid vehicles in the automotive sector will contribute to market growth

The automotive segment accounted for 40% current sensor market shipments globally in 2019 owing to technological developments in vehicular systems such as ABS system, self-driving technologies, and ADAS. Current sensors have several applications in advanced automotive such as battery management, overcurrent protection, converter control, and control of motor drives. The integration of advanced automotive system will further propel the growth of the market.
 

These sensors are also experiencing high market opportunity from the electric & hybrid vehicle segment. These sensors efficiently monitor the current consumption from battery and deliver real-time information about the charging status and battery management. The growing adoption of Electric Vehicles and Hybrid Electric Vehicles (EVs/HEVs) due to several countries focusing on green energy initiatives and low fuel emission will drive the market for current sensors in the automotive sector.
 

Rising trend toward renewable power generation in the U.S. is. propelling the market growth

North America Current Sensor Market

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North America current sensor market dominated over 35% revenue share in 2019 and will exhibit around 6% growth rate till 2026. The region is witnessing an extensive adoption of smart home and smart city trends, which resulted in the proliferation of several electronic systems including lighting control, HVAC control, home healthcare devices, home appliances, portable electronic devices, infotainment systems, and others. The adoption of these devices will increase the deployment of Battery Management Systems (BMS) and electronic safety systems, creating an opportunity for the industry in the region.
 

Rising government concerns toward the emission of greenhouse gases, majorly CO2, have propelled the adoption of renewable energy for electricity generation and energy conversion. This will positively influence the market demand over the coming years. These sensors deliver fast response time and high output bandwidth for photovoltaic systems and inverter configuration.
 

Focus on new product development to stay competitive in the market

The key players in the industry include Allegro MicroSystems, TDK Corporation, Silicon Laboratories, Aceinna, and Infineon Technologies AG. The companies in the market are focusing on developing application-specific sensors to cater to the high demand among competitors. For instance, in June 2020, Allegro MicroSystems, LLC launched an advanced Hall effect current sensor series, which offers accuracy of 1% and sensing bandwidth up to 400 kHz. This sensor offers a wide operating temperature range suitable for automotive & industrial applications.
 

The current sensor market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipments in Million Units from 2016 to 2026 for the following segments:

Market, By Type

  • Closed loop
  • Open loop

Market, By Technology

  • MEMS
  • Hall effect
  • Shunt
  • Fluxgate
  • Magneto resistive

Market, By End Use

  • Automotive
  • Consumer electronics
  • Industrial
  • Healthcare
  • Telecommunication
  • Others

Market, By Application

  • Motor drive
  • Converter & inverter
  • Battery management
  • UPS & SMPS
  • Others

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • France
    • Italy
    • Germany
    • Spain
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • GCC

 

Frequently Asked Questions (FAQ) :

The market size of current sensor exceeded USD 2 billion in 2019.
The industry share of current sensor is poised to grow at around 6% CAGR between 2020 and 2026.
North America current sensor market dominated over 35% revenue share in 2019 and will exhibit around 6% growth rate till 2026.
According to the analysts at GMI, the industry shipments are projected to reach 3 billion units by 2026.
The market growth of hall-effect current sensors is majorly attributed to ongoing technological development in Hall-based current sensor such as coreless technology which helps sensor manufacturers to reduce the Bill of Material (BOM) and design size, increasing their integration in several industry verticals.
The key players in the industry include Allegro MicroSystems, TDK Corporation, Silicon Laboratories, Aceinna, and Infineon Technologies AG.

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Premium Report Details

  • Published Date: Jul 2020
  • Pages: 670
  • Tables: 1346
  • Charts / Figures: 36
  • Companies covered: 20
  • Countries covered: 16

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