The Global Current Sensor Market size is expected to reach $2 billion by 2027, rising at a market growth of 8. 1% CAGR during the forecast period. The current sensor refers to a device that is capable of detecting the flow of electric current in a wire or conductor, and creates a signal proportional to that current.
New York, Aug. 31, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Current Sensor Market By Type, By Technology, By Output Type, By End User, By Regional Outlook, COVID-19 Impact Analysis Report and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06131626/?utm_source=GNW
This created signal can be in the form of current or digital output or analog voltage. The current sensors can be classified into two types of loops viz. closed-loop, and open-loop and use technologies like Fluxgate, Hall-effect, and Rogowski effect. The application of current sensors is found in different types of industries like automotive and consumer electronics.
They can also monitor the current flow by employing the resistor in the direct path of the current, which will help to measure the fall in the voltage. The current sensing circuit generates a voltage output or proportional current in the path of the flowing current being measured.
The growth for the current sensor market is fueling, owing to the increase in the adoption of power management systems in data centers, which is enhancing the speed and efficiency with the reduction in power expenditure. Current sensors are being integrated with backup power systems like UPS systems and inverters that will protect the battery while getting charged and provide efficiency, thus, leading to increased demand in data centers. In addition, the government has strictly implemented rules to control the power consumption of data centers, which is one of the key factors boosting the growth of the current sensor market.
Impact The outbreak of the Covid-19 has severely affected the research & development activities in the semiconductor and electronics industry which led to the closure of various manufacturing facilities around the world. The scarcity of raw components and materials is hindering the production capacity of sensor manufacturers and created disruption in the supply chain. The current sensor industry has acquired excessive growth, owing to increased manufacturing of hybrid & electric vehicles, the rising building automation sector, and increasing investments in consumer electronics in the past decade.
The outbreak of the global COVID-19 pandemic restricted both the demand and supply of this market. However, it is anticipated that the market would witness new growth momentum as industries overcome the effects of the COVID-19 pandemic. In contrast, an undetermined economy and a decline in the adoption of electric vehicles are leading to the drop in purchasing capability of the consumers, which is hampering the growth of the current sensor market.
Based on Type, the market is segmented into Open Loop and Close Loop. In several industries such as telecom, the closed-loop sensor is used for the linear flow of current in servers and circuits, due to which this sector has become popular in the telecom industry. Base stations are highly adopting these sensors to get Switch-Mode Power Supplies (SMPS) and Uninterrupted Power Supplies (UPS) to calculate impulse current, direct current (DC), and alternating current (AC). In addition, these sensors are resistant to electrical noise, offering constant current flow in the electrical systems like computer room air conditioning (CRAC) units, power supplies, and power distribution units (PDU) due to which the growth of the market is augmenting.
Based on Technology, the market is segmented into Hall Effect, Current Transformer, Flux Gate and Others. There are some more advantages offered by hall-effect technology like wide frequency bandwidth, low power consumption, linearity, and high accuracy. For more advancements in Hall-effect technology, industry leaders are inclining towards galvanic isolation-based technology and BiCMOS architecture. The applications of programmable & intelligent Hall-effect sensors are found in smart batteries, smart fuse devices, traction motor invertors, and industrial robots.
Output Type Outlook
Based on Output Type, the market is segmented into Analog and Digital. The Analog market dominated the Global Current Sensor Market by Output Type 2020, growing at a CAGR of 7.2 % during the forecast period. The Digital market is expected to witness highest CAGR of 9.4% during (2021 - 2027).
End User Outlook
Based on End User, the market is segmented into Industrial, Automotive, Consumer Electronics, Telecommunication and Others. Automotive user acquired the highest revenue share of current sensor market in 2020 and is estimated to witness considerable growth over the forecast period. This growth is attributed to the high adoption of current sensors in hybrid electric vehicles and electric vehicles. Evolution in the electrification of powertrains will lead to improvements in electric and hybrid electric vehicles, due to which there will be a surge in the demand for current sensors.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Asia-Pacific is estimated to witness a promising revenue share of the current sensor market during the forecast period. This rise in the current sensor market is due to the growing use of these sensors in the building automation, manufacturing, energy, and automotive industries. There is an increase in the manufacturing and sales of passenger cars in several countries of the Asia-Pacific region like South Korea, China, and Japan. The increment in the implementation of isolated current sensors for hybrid and electric vehicles in the automotive industry is accelerating the regional current sensor market growth.
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Honeywell International, Inc. and Texas Instruments, Inc. are the forerunners in the Current Sensor Market. Companies such as TDK Corporation, Infineon Technologies AG, and Asahi Kasei Corporation are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Melexis N.V. (Xtrion N.V.), Allegro Microsystems, Inc. (Sanken Electric Co., Ltd.), LEM International S.A., Honeywell International, Inc., TDK Corporation, Texas Instruments, Inc., Infineon Technologies AG, Asahi Kasei Corporation, Tamura Corporation, and Aceinna, Inc.
Recent Strategies Deployed in Current Sensor Market
Partnerships, Collaborations, and Agreements:
Oct-2020: Aceinna entered into a distributor agreement with Digi-Key Electronics, a global electronic components distributor. This agreement aimed to allow Digi-Key to expand its Marketplace product line and would offer Digi-Key users a broad variety of solutions and products in the autonomous vehicle guidance, sensing, and power management spaces.
Mar-2020: Aceinna came into partnership with WPG Americas, a subsidiary of WPG Holdings, the largest global electronic components distributor. This partnership aimed to make it more efficient and easy for developers to source, research, and extract top-class sensing solutions for the design of autonomous vehicles and power management applications.
Mergers and Acquisitions:
Aug-2020: Allegro MicroSystems took over Voxtel, a leading supplier of innovative electro-optical imaging products. This acquisition aimed to integrate Voxtel’s substantial laser and imaging expertise with Allegro’s automotive leadership and scale to allow the next generation of ADAS.
Apr-2020: Infineon Technologies completed the acquisition of Cypress Semiconductor Corporation, an American semiconductor design and manufacturing company. This acquisition would add to a distinct portfolio of software ecosystems, connectivity components, microcontrollers, and high-performance memories.
Feb-2018: Asahi Kasei Microdevices acquired Senseair, a Swedish manufacturer of NDIR gas sensor modules. This acquisition aimed to deeply integrate both the companies’ technological knowledge and market networks to expand Asahi’s business activities in the market for gas, and alcohol sensors, which are swift growing.
May-2017: TDK Corporation completed the acquisition of InvenSense, provider of the MotionTracking sensor system on-chip. This acquisition aimed to integrate TDK’s strengths in magnetic sensor technologies, the comprehensive portfolio of sensor products from TDK Group’s TDK-Micronas, EPCOS, and Tronics with InvenSense’s sensor and software platforms to boost TDK’s sensor business and support its global presence in the sensor business.
Product Launches and Product Expansions:
Jul-2021: Melexis launched a free, online simulation tool for magnetic sensor evaluation and module design. This tool provides users’ engineering teams the capability to develop and stimulate their own magnets based on Melexis’ Triaxis 2D/3D sensors. By utilizing the simulation application, engineers could instantly design a custom magnetic sensor module to their own specifications.
Jun-2021: Melexis released next-generation current sensors, MLX91219 and MLX91218. These sensors are aimed at automotive power-conversion applications. They offer several benefits like optional 3.3V or 5V operation, high resolution, and combined over-current detection circuitry. The MLX91219 is a conventional hall current sensor. By utilizing a ferromagnetic C-core, currents can be calculated from the ranges of 200A to beyond 2000A. This sensor has a flexible U-shield for crosstalk immunity, which helps in calculating currents within the ranges of 200A to 2000A.
Apr-2021: TDK Corporation released the CUR 4000 sensor, which expanded its Micronas Hall-effect sensor portfolio. This sensor is developed for highly precise current measurements in automotive & industrial applications, which provides non-intrusive, galvanic isolated contactless current sensing. All these features would contribute to the future of high-voltage systems of hybrid and electric vehicles (xEV).
Mar-2021: Allegro MicroSystems unveiled ACS37610, a new coreless Hall-effect current sensor. This sensor is aimed at demanding automotive and industrial systems, providing more precision and sensitivity, additional fault detection offerings, and customer programmability.
Jan-2021: Melexis unveiled the MLX91216 XHF extra high-field current sensor. This launch expanded the ease and precision of its distinct IMC-Hall technology into high-current measurement for increasing automotive applications.
Dec-2020: Melexis launched its second-generation isolated integrated current sensors, MLX91220 and MLX91221. These sensors are built on the first generation of current sensors that integrate sensing elements and high precision signal conditioning with voltage isolation. In addition, these new generation current sensors can be accessed in miniature SOIC8 narrow body and SOIC16 wide-body packages, which are improved by boost the bandwidth to 300 kHz.
Jul-2020: Allegro MicroSystems launched a new current sensor named ACS37002. This sensor has an integrated conductor for high-frequency switching applications and has a sensing bandwidth of 400 kHz up to 180 A with a less offset and 1% precision, typical across the whole automotive temperature that ranges from -40°C to 150°C.
Jul-2020: Texas Instruments launched TMCS1100 and TMCS1101, the industry’s first zero-drift Hall-effect current sensors. These sensors allow the low drift and high precision over time & temperature and also offer reliable 3-kVrms isolation that is particularly crucial for AC or DC high-voltage systems like solar inverters, energy storage equipment, industrial motor drives, and power supplies.
Jun-2020: Allegro MicroSystems introduced ACS37002 portfolio of advanced Hall-effect current sensors. This product portfolio includes all in easy-to-utilize surface-mount packages.
Mar-2020: Allegro MicroSystems unveiled the ACS37612, the world’s first standalone Hall-based coreless current sensor. This sensor calculates currents range from 200A to >1000A flowing via a PCB or a busbar with a typical precision of 1% and without needing a magnetic concentrator core or a shield.
Scope of the Study
Market Segments covered in the Report:
• Open Loop
• Close Loop
• Hall Effect
• Current Transformer
• Flux Gate
By Output Type
By End User
• Consumer Electronics
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Melexis N.V. (Xtrion N.V.)
• Allegro Microsystems, Inc. (Sanken Electric Co., Ltd.)
• LEM International S.A.
• Honeywell International, Inc.
• TDK Corporation
• Texas Instruments, Inc.
• Infineon Technologies AG
• Asahi Kasei Corporation
• Tamura Corporation
• Aceinna, Inc.
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06131626/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: email@example.com US: (339)-368-6001 Intl: +1 339-368-6001