Dublin, March 29, 2019 (GLOBE NEWSWIRE) -- The "Current Sensor Market by Type (1) (Closed Loop and Open Loop), Type (2) (Isolated and Non-Isolated Current Sensors), End User (Automotive, Healthcare, Energy, Consumer Electronics, Industrial, and Others), and Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The current sensor market is expected to grow at a CAGR of 8.34% to reach USD 3.6 billion by 2024 from USD 2.4 billion in 2019
The increasing use of battery-powered applications and renewable energy forms, and the growing market for Hall effect current sensors are among the key driving factors for the current sensor market growth.
Moreover, the growth of automotive electronic control systems and new vehicle technologies, and large-scale commercialization of IoT and IIoT are among the other factors fueling the growth of the current sensor market. However, the falling average selling prices of sensor components are affecting new market entrants and therefore are restraining the growth of current sensor market.
Demand for magnetic current sensors to boost market for isolated current sensors
The current sensor market, by type (2), is segmented into isolated and non-isolated types. The isolated current sensor market is expected to witness significant growth during the forecast period. The growth of the market for this segment is ascribed to the growing demand for magnetic current sensors worldwide due to their usability in a wide range of applications such as automotive HEV inverters and electronic power steering (EPS) systems, and in industrial and consumer inverters and motor control applications.
Automotive sector to hold largest share of current sensor market during forecast period
In this report, the current sensor market, by end user, has been segmented into automotive, consumer electronics, energy, industrial, healthcare, telecom and networking, and others. Among these, the automotive segment is expected to hold the largest share of current sensor market throughout the forecast period. This share of the automotive segment is attributed to the high volume of current sensors being used in automotive vehicles worldwide. Further, this growth is also ascribed to the increasing number of electric vehicles and hybrid vehicle (EV/HEV).
APAC to hold largest share of current sensor market from 2019 to 2024
In terms of market size, APAC is expected to dominate the current sensor market during the forecast period as it is likely to witness significant growth in the said market during the forecast period. The population growth and rapid urbanization in developing economies, such as China and India, have prompted the speedy development in the region, which will boost the demand for current sensors from several verticals, such as automotive, energy, industrial, healthcare, and telecom and networking.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Growth Opportunities in Current Sensor Market
4.2 Current Sensor Market, By Type (1)
4.3 Current Sensor Market in APAC, By Country and Industry
4.4 Current Sensor Market, By Type (2)
4.5 Current Sensor Market, By Geography (2019)
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Use of Battery-Powered Applications and Renewable Energy Forms
5.2.1.2 Growing Market for Hall Effect Current Sensors
5.2.2 Restraints
5.2.2.1 Falling Average Selling Prices of Sensor Components Affecting New Market Entrants
5.2.3 Opportunities
5.2.3.1 Growth of Automotive Electronic Control Systems and New Vehicle Technologies
5.2.3.2 Large Scale Commercialization of IoT and IIoT
5.2.4 Challenges
5.2.4.1 Accuracy Over A Varied Temperature Range
5.3 Value Chain Analysis
6 Current Sensor Market, By Type (1)
6.1 Introduction
6.2 Open Loop
6.2.1 Open Loop Current Sensors Offers Price Advantage Over the Other Type
6.3 Closed Loop
6.3.1 Closed Loop Current Sensors are to Grow at A Faster Rate for Sensors By Type
7 Current Sensor Market, By Type (2)
7.1 Introduction
7.2 Isolated Current Sensors
7.2.1 Magnetic Current Sensors
7.2.1.1 Hall Effect Current Sensors
7.2.1.1.1 Hall Effect Current Sensors is the Largest Market for Current Sensors
7.2.1.2 AMR Sensors
7.2.1.2.1 Motor Drives Application to Drive the Market for AMR Sensors
7.2.1.3 GMR Sensors
7.2.1.3.1 High Sensitivity Property of These Sensors Offers an Advantage Over Other Sensors
7.2.1.4 TMR Sensors
7.2.1.4.1 Low Power Consumption is the Key Advantage of These Sensors
7.2.1.5 Fluxgate Sensors
7.2.1.5.1 The Market for Fluxgate Sensors in Expected to Grow Significantly
7.2.2 Opto-Isolated Op Amp
7.2.2.1 Opto-Isolated Op Amp is an Evolving Technology
7.2.3 Shunt-Isolated Op Amp
7.2.3.1 Some New Applications of Shunt-Isolated Op Amp Might Help This Market Grow
7.3 Non-Isolated Current Sensors
7.3.1 Current Sensing Amplifiers
7.3.1.1 Current Sensing Amplifiers are the Fastest Growing Non-Isolated Current Sensors
7.3.2 Analog-To-Digital Converters
7.3.2.1 Analog-To-Digital Converters are Emerging Market for Isolated Current Sensors
8 Current Sensor Market, By End User
8.1 Introduction
8.2 Automotive
8.2.1 EV/HEV Applications Boosting Sales of Current Sensors in Automotive Industry
8.3 Consumer Electronics
8.3.1 CMOS Technology for Current Sensors is Prime Driver for Use of These Sensors in Consumer Electronics
8.4 Telecom and Networking
8.4.1 UPS / Battery Management are Major Applications of Current Sensors in Telecom and Networking Industry
8.5 Healthcare
8.5.1 Healthcare is Emerging Sector for Current Sensor Applications
8.6 Industrial
8.6.1 Industrial Automation to Drive Current Sensor Market for Industrial Sector
8.7 Energy
8.7.1 Increasing Renewable Energy Generation to Drive Current Sensor Market for Energy Sector
8.8 Others
9 Geographic Analysis
9.1 Introduction
9.2 North America
9.2.1 US
9.2.1.1 Automotive Industry to Drive Current Sensor Market in US During Forecast Period
9.2.2 Canada
9.2.2.1 Industrial, Automotive, and Consumer Electronics are Main End User Segments of Current Sensors in Canada
9.2.3 Mexico
9.2.3.1 Industrial Sector to Drive Current Sensor Market in Mexico
9.3 Europe
9.3.1 UK
9.3.1.1 Growth of EV and HEV to Drive the Growth of Current Sensors Market
9.3.2 Germany
9.3.2.1 Industrial Automation to Have Positive Impact on Current Sensor Market in Germany
9.3.3 Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.1.1 China is Largest Market for Current Sensors in APAC
9.4.2 Japan
9.4.2.1 Consumer Electronics and Industrial Automation to Drive Current Sensor Market in Japan in Coming Years
9.4.3 Rest of APAC
9.5 Rest of the World
9.5.1 Middle East and Africa
9.5.1.1 Telecommunications Industry to Drive Current Sensor Market in Middle East and Africa
9.5.2 South America
9.5.2.1 South America is Emerging Market for Current Sensors
10 Competitive Landscape
10.1 Overview
10.2 Ranking Analysis
10.3 Competitive Scenario
10.3.1 Product Launches and Developments
10.3.2 Mergers and Acquisitions, and Spin-Offs
10.3.3 Collaborations and Partnerships
10.3.4 Expansion, Contracts, and Agreements
11 Company Profile
11.1 Introduction
11.2 Key Players
11.2.1 Asahi Kasei Microdevices
11.2.2 Aceinna
11.2.3 Melexis
11.2.4 Allegro Microsystems
11.2.5 Infineon Technologies
11.2.6 TDK Corporation (TDK-Micronas GmbH)
11.2.7 Honeywell
11.2.8 Tamura Corporation
11.2.9 Texas Instruments
11.2.10 Silicon Labs
11.2.11 LEM International
11.3 Other Ecosystem Players
11.3.1 Sensitec
11.3.2 Kohshin Electric
11.3.3 Pulse Electronics
11.3.4 Vacuumschmelze GmbH
11.3.5 STMicroelectronics
11.3.6 Omron Corp (Omron IA)
11.3.7 ICE Components
11.3.8 Magnesensor Technology
11.3.9 American Aerospace Controls (AAC)
11.3.10 Electrohms Pvt. Ltd.
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