Market size for current sensor exceeded USD 2 billion in 2022 and will observe more than 10% CAGR from 2023-2032 due to the rising adoption of hybrid and electric vehicles worldwide.
Motor drive applications will witness over 8% CAGR from 2023-2032 owing to increasing deployment across the manufacturing industries to help in controlling and regulating several rotating equipment.
Asia Pacific market size for current sensor will record over 10% CAGR from 2023-2032 on account of the rising customer inclination for electronic devices.
Allegro MicroSystems, Inc., Honeywell International Inc., Infineon Technologies AG, Omron Corporation, and TDK Corporation. The ecosystem also involves various innovative players, such as Melexis, and TAMURA Corporation are some well-known current sensor industry players.