Current sensor Market is expected to reach USD 3.71 Billion by 2024 | Global Industry analysis by Major Companies like Phoenix Contact, Texas Instruments, etc.
The global Current sensor market is estimated to touch a valuation of USD 3.71 billion by 2024, at a CAGR close to 8.3% from 2018 to 2023 (forecast period), as per Market Research Future (MRFR). The global Current sensor market was valued at USD 2.12 Billion in 2017, according to the report.
The current sensors are quite demanding today as the integration of it within the circuits has increased. These current sensors are used for sensing the AC and DC currents within the circuit. These sensors are clamped around the wires to do the needful. Moreover, they are also treated as open-loop or closed-loop sensors for output detection in designated units. They measure the rating within the unit range of some milli-amperes to up to a thousand Amperes.
Top Contenders:
The strategic contenders in the current sensor market are Pulse Electronics Corporation (US), Phoenix Contact (Germany), Texas Instruments, Inc. (US), Honeywell International Inc (US), Tamura Corporation (Japan), Melexis NV (Belgium), Vacuumschmelze GmbH & Co. KG (Germany), Infineon Technologies AG (Germany), Allegro MicroSystems, LLC (UK), and AKM Semiconductor Inc (US), to name a few.
Market Segmentation
Based on the type classification, the global current sensor market is classified into different types that include a digital or inductive current sensor, open-loop current sensor, and closed-loop current sensor.
Based on the current type classification, the global current sensor market is integrated for sensing different current types that include Direct Current and Alternating Current.
Based on the technology classification, the global current sensor market is segmented into the implementation of different technologies such as hall-effect current sensing and giant magnetoresistive current sensing.
Based on the application segmentation, the global current sensor market is segmented into different applications, such as industrial inverters, automotive, motor control, consumer electronics, power monitoring, and others.
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Regional Classification
The global current sensor market is widely spread across various regions of the globe. Some of these regions include North America, Asia-Pacific, Europe, and other parts of the world. As per the records of the previous forecast period, North America did generate the highest revenue and is expected to reciprocate accordingly in the present period as well. All other regions are also experiencing an increase in demands, which will come out as a productive outcome for the global market.
Major Highlights of TOC Covers:
1. Executive Summary
2. Key Business Trends
3. Regional Trends and Growth
4. Product Trends
5. End-use Trends
6. Definition and Forecast Parameters
7. Current sensor Market Segmentation
8. Current sensor Market Landscape
9. Vendor Matrix
10. Company Profiles
11. Business Overview
12. Financial Data
13. Product Landscape
14. Strategic Outlook
15. SWOT Analysis
16. Regional Current sensor Market Share
17. Country Current sensor Market Share
18. Revenue and Sales Forecast
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