, By Loop Type (Closed Loop, Open Loop), By End Use (Automotive, Consumer Electronics, Telecom and Networking, Medical, Energy and Power, Industrial, Others), and Region
Covid-19 Impact Analysis:
Covid-19 has highly impacted the market dynamics, competition, and supply chain of almost all industries. The revenues have gone down in 2020 and are expected to resume an uptrend gradually from 2021 and continue to grow further. The report covers all the segments that were affected by the pandemic.
According to the report, The Current Sensor Market is estimated to grow from USD 2.2 billion in 2020 to USD 4.1 billion by 2026 at a healthy CAGR of 11.1% during the forecast period.
Market Segments' Analysis
Based on end-use, the Current Sensor market has been classified into automotive, consumer electronics, telecom and networking, medical, energy and power, industrial, and others. The automotive segment accounted for the largest market share in 2020. This is mainly attributed to the rising adoption of current sensors in EVs and HEVs. Significant developments in EVs/HEVs require progress on the electrification of powertrains, which further boosts the demand for current sensors.
By region, the North American Current Sensor market accounted for the largest share in 2020 and is expected to grow at a significant CAGR during the review period. The current sensor market growth is mainly propelled by growing governmental concerns to conserve the environment towards implementation of renewable sources of energy for electricity generation & conversion, further bolstering the regional market growth.
The Asia-Pacific Current Sensor market is expected to grow at the highest CAGR of more than 8% during the review period. This growth is mainly attributed to expanding establishments of hyper-scale data centers across Japan, China, India, and South Korea. These hyper-scale data centers are highly integrated with current sensors in different power management devices such as SMPS, datacenter UPS, and Power Distribution Units (PDUs), which further proliferate the regional market expansion.
The following are the key players in the Current Sensor Market
· Allegro MicroSystems, LLC (US)
· TDK Corporation (TDK-Micronas GmbH) (Germany)
· Infineon Technologies AG (Germany)
· Melexis NV (Belgium)
· Honeywell International Inc. (US)
· Asahi Kasei Microdevices Corporation (Japan)
· ABB Group (Switzerland)
· NK Technologies (US)
· Tamura Corporation (Japan)
· Vacuumschmelze GmbH & Co KG (Germany)
Frequently Asked Questions –
This report provides vital information and valuable insights, enabling the users to identify the strategic growth opportunities in the market. The report aims at answering the following key questions:
- What is the current and future market size of Current Sensor Market?
- How has the COVID-19 pandemic impacted the market? How fast is it expected to recover?
- What will be the short and long-term effects of the pandemic?
- How are other market factors affecting the market dynamics?
- Which segments offer high-growth opportunities in the long run?
- How fierce is the Current Sensor Market competition?
- What are the key emerging trends and unmet needs in the present market?
- What are the strategic growth opportunities and key success factors?
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