PUBLISHER: Roots Analysis | PRODUCT CODE: 1771414
PUBLISHER: Roots Analysis | PRODUCT CODE: 1771414
As per Roots Analysis, the global current sensor market size is estimated to grow from USD 2.58 billion in the current year to USD 5.67 billion by 2035, at a CAGR of 7.42% during the forecast period, till 2035.
The opportunity for current sensor market has been distributed across the following segments:
Type of Current Range
Type of Current Sensing Methods
Type of Output
Type of Circuit
Type of Component
Type of Sales Channel
Type of Technology
Type of Form Factor
Mode of Application
End User
Company Size
Business Model
Geographical Regions
The current sensor market is rapidly evolving, fueled by the increasing need for digital devices that manage the flow of current in electric appliances. The risk of machinery damage arises during excessive flow or high voltage conditions, leading to a heightened demand for current sensors across multiple industrial sectors.
Current sensors are devices capable of detecting and measuring the current flow through electronic devices or conductors. They employ various sensing technologies, such as Hall effect, shunt resistors, and optical sensors to monitor and regulate electrical currents. Based on specific needs, these sensors can convert current into measurable outputs, including current, voltage, and digital signals. Beyond controlling current flow, current sensors assist in monitoring voltage variations, help reduce energy consumption, improve operational efficiency, and minimize downtime. Additionally, key factors driving growth consist of industrial automation, renewable energy systems, electric vehicles, and consumer electronics.
To address the increasing demand for current sensors across a wide array of industries, numerous companies are accelerating their research and development efforts to create innovative current sensing technologies. The ongoing pursuit of technological advancements in current sensors by industry leaders has created significant opportunities for growth. Nevertheless, the primary focus will stay on incorporating AI-based technologies and IoT sensors for improved precision in current flow monitoring. With continuous innovation and adoption, the current sensors market is projected to experience significant growth during the forecast period.
Based on type of current range, the global current sensor market is segmented into less than 100A, 100A-1,000A, and more than 1,000A. According to our estimates, currently, optimal range 100A-1,000A segment captures the majority share of the market. This is attributed to the increasing need for precise monitoring current sensors in industrial applications, renewable energy systems, and electric vehicles.
Additionally, current sensors in this range are known for their high performance and versatility, making them ideal for various applications that require effective energy management and monitoring. As industries place greater emphasis on energy efficiency and sustainability, the 100A-1,000A segment continues to see notable growth and demand.
Based on type of current sensing methods, the current sensor market is segmented into direct current sensing and indirect current sensing. According to our estimates, currently, direct current sensing segment captures the majority of the market. This can be attributed to its superior accuracy and capability for real-time monitoring, which is crucial for applications that demand precise data collection.
This approach is particularly preferred in sectors like industrial automation, electric vehicles, and renewable energy systems, where dependable performance and efficiency are vital. The increasing focus on precise energy management further strengthens the leadership of direct current sensing.
Although direct current sensing commands the largest share and is expected to experience a higher compound annual growth rate (CAGR), indirect current sensing also maintains a notable market share. This can be attributed to its importance in several industrial fields, including the automotive and energy sectors.
Based on type of output, the current sensor market is segmented into analog and digital outputs. According to our estimates, currently, the digital output segment captures the majority share of the market. This growth is primarily due to its benefits in precision, resistance to noise, and alignment with contemporary digital systems. Digital sensors enable seamless integration with sophisticated data processing and IoT applications, allowing for monitoring and analysis in real time.
Based on type of circuit, the current sensor market is segmented into isolated and non-isolated circuits. According to our estimates, currently, isolated circuit segment captures the majority share of the market. This can be attributed to its capability to provide improved safety and protection against electrical noise and surges, making it suitable for sensitive applications in sectors like industrial automation, renewable energy, and electric vehicles. Isolated circuits avoid ground loops and guarantee precise current measurements, which are essential for ensuring system reliability.
As safety standards become more stringent and the need for accurate monitoring rises, we anticipate that the isolated circuit segment will continue to gain momentum in the market and is expected to experience a higher CAGR during the forecast period.
Based on type of sales channel, the current sensor market is segmented into online and offline. According to our estimates, currently, online segment captures the majority share of the market. This can be attributed to the increasing popularity of e-commerce and the convenience it provides to consumers.
Moreover, these online platforms offer easy access to a diverse range of products, competitive pricing, and customer reviews, which enhance the overall purchasing experience. Additionally, the rising adoption of digital technologies in industrial sectors and the presence of comprehensive product information online further stimulate the growth of online sales.
Based on type of technology, the current sensor market is segmented into Hall Effect, shunt, flux gate, magneto-resistive, current transformer, and Rogowski coil. According to our estimates, currently, Hall Effect segment captures the majority share of the market. This can be attributed to its versatility, accuracy, and capability to measure both AC and DC currents.
Additionally, Hall Effect sensors are compact and highly dependable, making them suitable for a variety of applications, including electric vehicles, renewable energy systems, and industrial automation, thanks to their size and reliability.
Based on type of form factor, the current sensor market is segmented into PCB-mount, module-style, open-loop, closed-loop, and surface-mount configurations. According to our estimates, currently, PCB-mount segment captures the majority share of the market. This can be attributed to its compact design and the ease with which it can be integrated into various electronic systems. Additionally, PCB-mounted sensors are preferred in applications such as consumer electronics, automotive, and industrial automation due to their limited space requirements and high reliability
Based on mode of application, the current sensor market is segmented into automotive power trains, battery management, converters & inverters, fast DC chargers (EV), grid infrastructure, motor drives, overload detection, starters & generators, UPS & SMPS, and others. According to our estimates, currently, battery management segment captures the majority share of the market. This can be attributed to the increasing adoption of electric vehicles (EVs) and the rising demand for effective energy storage solutions.
Based on end user, the current sensor market is segmented into aerospace & defense, automotive, building automation, consumer electronics, healthcare, industrial automation, railways, renewable energy, telecom & networking, utilities, and others based on the end users. According to our estimates, currently, automotive segment captures the majority share of the market.
This can be attributed to the swift rise of electric vehicles (EVs) and advancements in automotive electronics. It is worth noting that current sensors play a vital role in EVs for battery management, motor control, and safety. With the increasing emphasis on electrification and automation, we anticipate that this segment will continue to hold its prominent position in the market.
Based on company size, the current sensor market is segmented into large size companies and small and mid-size companies. According to our estimates, currently, large companies capture the majority share of the market. This can be attributed to the fact that large enterprises possess the resources and capabilities to make substantial investments in research and development, manufacturing capabilities, and marketing, which allows them to create current sensors at a lower cost per unit than their smaller counterparts.
Additionally, the current sensors offered by medium and small-sized companies are cost-effective options that maintain good quality. This segment is projected to grow at a higher CAGR, due to the rising demand and improved availability of better current sensors in the market.
Based on business model, the current sensor market is segmented into B2B, B2C and B2B2C. According to our estimates, currently, B2B captures the majority share of the market. This can be attributed to the growing implementation of current sensor technology across various industries, including aerospace, manufacturing, healthcare and finance.
Additionally, the B2C model is likely to experience a higher CAGR, during the forecast period, as current sensor technologies become increasingly user-friendly, leading to more consumers integrating them for personalized uses, smartphone compatibility, and enhanced user experiences.
Based on geographical regions, the current sensor market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and the rest of the world. According to our estimates, currently, North America captures the majority share of the market. This can be attributed to the technological infrastructure and high concentration of innovative firms that are actively engaged in the development and implementation of advanced current sensing technologies.
Additionally, North America serves as the home for numerous leading current sensor manufacturers, who utilize state-of-the-art research and development to maintain their competitive edge. The increasing demand for electric vehicles, renewable energy systems, and industrial automation in North America generates a considerable customer base for current sensors, as these systems and vehicles depend on direct current.
The report on the current sensor market features insights on various sections, including:
4.2.2. Currency Coverage