Current Sensor Market by Sensor Type, Loop Type, Technology, Output Type, End-Use

List of Tables

[181 Pages Report] The Current Sensor Market size was estimated at USD 4.34 billion in 2023 and expected to reach USD 4.71 billion in 2024, at a CAGR 9.03% to reach USD 7.95 billion by 2030.

A current sensor measures the electric current flowing through a conductor. Current sensors are essential for monitoring and controlling power systems and are used to measure the current flowing through transmission lines, distribution networks, and electrical equipment. Current sensors are used for circuit control and protection while monitoring and enhancing the performances of electronic systems. They are primarily deployed in several electronic devices and components, such as batteries and chargers. Current sensors are useful in power metering, measurement of current supply, diagnosis of the control system, and controlling loads from motors. Current sensors integrated with backup power systems, such as uninterrupted power supply (UPS) systems and inverters, enable battery protection at the charge stage and offer increased electronic system efficiency, increasing demand for current sensors in data centers. Rising demand for Hall effect technology in current sensors and its increased use in manufacturing industries enhance the need for current sensors. However, technical concerns and high costs associated with current sensors significantly impede the adoption of current sensors. In addition, deploying IoT and IIoT with current sensors and utilizing advanced technology in current sensors is anticipated to create massive opportunities for market development.

KEY MARKET STATISTICS
Base Year [2023]	USD 4.34 billion
Estimated Year [2024]	USD 4.71 billion
Forecast Year [2030]	USD 7.95 billion
CAGR (%)	9.03%

Sensor Type: Constant utilization of current sensors to ensure the safe and efficient operation of electrical systems

Alternate-current current sensors are designed primarily to measure alternating current in electrical systems, where the direction of the flow of electric charge changes periodically. AC current sensors can measure complex waveforms with varying magnitudes and frequencies accurately. Direct-current current sensors are commonly employed in battery management systems, automotive electronics, telecommunications equipment, and data centers for measuring direct currents in electrical systems, where the flow of electric charge remains constant in one direction. DC current sensors can measure low-level currents with high precision and stability, providing galvanic isolation between high-voltage circuits and sensitive measuring devices.

Loop Type: Growing deployment of closed-loop current sensor for speedy & reliable parametres in the industry-based application

A closed-loop current sensor utilizes feedback to compare its output with input, allowing the system to continually adjust its output to achieve the desired result. Closed-loop current sensors are often used in industrial environments where accuracy and precision are important. A closed-loop current sensor is more robust to core saturation as the magnetic flux density inside the core is very small. However, an open-loop current sensor is a sensor that does not use feedback or any other form of control to achieve a desired result. An open loop system uses a single measurement or output signal that does not consider external influences such as environmental parameters or user inputs. Open loop systems are commonly used in consumer electronics such as televisions, DVD players, and cell phones. A closed-loop current sensor is commonly selected in applications that demand high accuracy, as it effectively eliminates sensitivity and nonlinearity error. Additionally, the fast response time required for protecting semiconductor switches (such as IGBTs and MOSFETs) can be achieved with the use of a closed-loop current sensor, ensuring accuracy and reliability in current measurements and making it an ideal choice for applications where precision and speed are crucial.

Technology: Advancement in isolated current sensor technology for current measurement in various application

Isolated current sensors are typically used to measure current in various applications and are designed to provide galvanic isolation from the main power source and other electronic circuits. These are categorized into three isolated sensors that are often considered as fully isolated, non-contact current sensing, including the current transformer (CT), the Rogowski coil, and the Hall-effect device. These sensors can convert a current signal into an isolated voltage signal. Some of these current-sensing circuits and signal conditioning are at high potential and directly connected to a conductor that carries hundreds of Amps. Non-isolated current sensors measure current in non-isolated applications with an output voltage proportional to the AC or DC. Non-isolated current sensors lack the galvanic isolation of their isolated counterparts but are often smaller and less expensive.

Output Type: Innovations in digital and wireless current sensors are the emerging need of current todays non-wired, automated sensing devices

Analog current sensors are designed to measure an analog current signal from a power source or load and provide high accuracy of electronic systems and a wide dynamic current range with good linearity in their output. Digital current sensors are designed to measure digital current signals from a power source or load, and they have been gaining popularity due to their fast response time and low cost. Wireless current sensors provide many benefits over traditional wired sensors, which can be installed quickly without wiring or connectors. They also offer greater flexibility in terms of installation locations and being able to monitor electronic systems remotely over long distances.

End-Use: Emerging deployment of the technologies integrated with the advanced current sensors for building automation and industrial verticals

Current sensors are widely used in the automotive industry for controlling and measuring electrical currents in onboard electrical systems and engine control units. Current sensors have become essential components in consumer electronics such as smartphones, tablets, wearables, and smart home devices due to their ability to gather data about users' activities and environmental conditions, including health tracking. In telecommunication, current sensors are employed for monitoring power usage and helping with communication signal analysis. Current sensors are also utilized in aerospace & defense to measure current flow in high-voltage systems or to monitor battery levels during flight. In building automation, increasing focus on energy efficiency while reducing operational costs, along with growing demand for automation solutions owing to their ability to improve occupant comfort levels, are increasing the adoption of current sensors in the installation of automation systems.

Regional Insights

In the Americas, the deployment of industrial robots, rapid adoption of 5G technology, and an upsurge in the trend of hybrid automobiles in the automotive industry increase the adoption of current sensors. In countries such as the United States, Canada, and Mexico, the growing adoption of smart home and smart city developments has raised the use of many electronic systems, including lighting control, HVAC control, home healthcare devices, and home appliances, significantly improving the adoption of current sensors. India and China have increased the requirement for current sensors owing to favorable regulatory compliances and the ongoing need for renewable energy infrastructure, power electronics, and automobiles. In Europe, the growing usage of current sensors in industrial automation, technological advancements in current sensors, and the rising expansion of consumer electronic products enhanced the utilization of current sensors in various industries.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Current Sensor Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Current Sensor Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Current Sensor Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Aceinna Inc., Allegro Microsystems, Inc., AMBO Technology, Asahi Kasei Corporation, Broadcom Inc., Cheemi Technology Co., Ltd., Coto Technology, Inc., CR Magnetics, Inc., CTS Corporation, DER EE Electrical Instrument CO., Ltd., Electrohms Private Limited, Emerson Electric Co., Hitachi, Ltd., Honeywell International Inc., ICE Components, Inc., Infineon Technologies AG, Kohshin Electric Corporation, LEM Holding SA, Littelfuse, Inc, Luksens Technologie GmbH, Melexis NV, Mitsubishi Electric Corporation, Monnit Corporation, Murata Manufacturing Co., Ltd., NXP Semiconductors N.V., Olimex Ltd., OMRON Corporation, Panasonic Holdings Corporation, Robert Bosch GmbH, Rockwell Automation Inc., Schneider Electric SE, Sensitec GmbH, Siemens AG, Silicon Laboratories Inc., Skyworks Solutions, Inc., STMicroelectronics International N.V., Suncall Corporation, Suzhou Novosense Microelectronics Co., Ltd., Tamura Corporation, TDK Corporation, TE Connectivity Ltd., Texas Instruments Incorporated, Vacuumschmelze GmbH & Co. KG, Yageo Corporation, and Yokogawa Electric Corporation.

Market Segmentation & Coverage

This research report categorizes the Current Sensor Market to forecast the revenues and analyze trends in each of the following sub-markets:

Sensor Type
- AC Current Sensors
- DC Current Sensors

Loop Type
- Closed Loop
- Open Loop

Technology
- Isolated Current Sensor
  - Magnetic Current Sensor
    - AMR
    - Fluxgate
    - GMR
    - Hall-effect
    - TMR

Opto-isolated op amp
Shunt-isolated op amp

Non-isolated Current Sensor
- Analog-to-Digital Converter
- Current Sensing Amplifier

Output Type
- Analog
- Digital
- Wireless

End-Use
- Aerospace & Defense
- Automotive
- Building Automation
- Consumer Electronics
- Industrial
- Telecommunication

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - Alaska
    - California
    - Illinois
    - Indiana
    - Louisiana
    - New York
    - Ohio
    - Pennsylvania
    - Texas
    - Vermont
    - West Virginia
    - Wyoming
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Current Sensor Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Current Sensor Market?

3. What are the technology trends and regulatory frameworks in the Current Sensor Market?

4. What is the market share of the leading vendors in the Current Sensor Market?

5. Which modes and strategic moves are suitable for entering the Current Sensor Market?

Product Code: MRR-501246436655

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Adoption of current sensors in smart grid and renewable energy infrastructure
  - 5.1.1.2. Government initiatives promoting industry 4.0 and robotic automation
- 5.1.2. Restraints
  - 5.1.2.1. High costs associated with current sensors
- 5.1.3. Opportunities
  - 5.1.3.1. Advancements in the design and models of current sensors
  - 5.1.3.2. Rise in the adoption of electric vehicles and hybrid-electric vehicles
- 5.1.4. Challenges
  - 5.1.4.1. Changing standards associated with current sensor technologies
5.2. Market Segmentation Analysis
- 5.2.1. Sensor Type: Constant utilization of current sensors to ensure the safe and efficient operation of electrical systems
- 5.2.2. Loop Type: Growing deployment of closed-loop current sensor for speedy & reliable parametres in the industry-based application
- 5.2.3. Technology: Advancement in isolated current sensor technology for current measurement in various application
- 5.2.4. Output Type: Innovations in digital and wireless current sensors are the emerging need of current todays non-wired, automated sensing devices
- 5.2.5. End-Use: Emerging deployment of the technologies integrated with the advanced current sensors for building automation and industrial verticals
5.3. Market Trend Analysis
- 5.3.1. Development of innovative current sensors by established players in North America with manufacturing expansion across South America to meet end-user demands
- 5.3.2. Government initiatives on the development and advancement of energy-efficient devices in APAC region
- 5.3.3. Strong regulatory framework to meet sustainability goals fuels high demand of current sensing technology from the end-use industries across Europe
5.4. Cumulative Impact of High Inflation
5.5. Porter's Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework Analysis

6. Current Sensor Market, by Sensor Type

6.1. Introduction
6.2. AC Current Sensors
6.3. DC Current Sensors

7. Current Sensor Market, by Loop Type

7.1. Introduction
7.2. Closed Loop
7.3. Open Loop

8. Current Sensor Market, by Technology

8.1. Introduction
8.2. Isolated Current Sensor
8.3. Non-isolated Current Sensor

9. Current Sensor Market, by Output Type

9.1. Introduction
9.2. Analog
9.3. Digital
9.4. Wireless

10. Current Sensor Market, by End-Use

10.1. Introduction
10.2. Aerospace & Defense
10.3. Automotive
10.4. Building Automation
10.5. Consumer Electronics
10.6. Industrial
10.7. Telecommunication

11. Americas Current Sensor Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Current Sensor Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Current Sensor Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. Melexis Boosts Accuracy of Hall-effect DC Current Sensing
- 14.3.2. TI Simplifies Current Sensing With the Industry's Most Accurate Hall-Effect Sensors and Integrated Shunt Solutions
- 14.3.3. Allegro MicroSystems to Acquire Crocus for USD 420 Million
- 14.3.4. Avnet and ACEINNA Ink Global Distribution Agreement
- 14.3.5. Novosense Launched The Automotive-Qualified Integrated Current Sensor Nsm2019 Featuring Low Impedance And High Isolation
- 14.3.6. TDK Invests in 2X Increased Production Capacity for TMR Magnetic Sensors
- 14.3.7. Asahi Kasei Microdevices Develops Ultra-Fast Current Sensing Technology with a Bandwidth of Several MHz
- 14.3.8. Suncall Corporation Taps Crocus Technologies TMR Sensor Technology to Develop Advanced Sensors for EV Industry
- 14.3.9. Mouser Electronics and Asahi Kasei Microdevices Sign Global Distribution Agreement
- 14.3.10. CTS Acquires Innovator in Electric Vehicle Sensors
- 14.3.11. LEM Launches Open Loop Hall Current Sensor for Automotive EV Traction Inverters

15. Competitive Portfolio

15.1. Key Company Profiles
15.2. Key Product Portfolio