Current Sensor Market Future Trend 2026


MarketsandMarketsTM has just released a new market research report titled "Current Sensor Market with COVID-19 Impact Analysis by Loop Type (Closed Loop and Open Loop), Technology (Isolated and Non-Isolated Current Sensors), Output Type (Analog and Digital), End-User, and Geography - Global Forecast to 2026". This market is predicted to increase from USD 2.3 billion in 2021 to USD 3.8 billion by 2026, growing at a C Growing battery-powered systems use, increased emphasis on renewable energy, widespread use of Hall-effect current sensors, and rising consumer electronics demand are some of the major drivers driving this market's growth. In the midst of COVID-19, the deployment of IoT and IIoT with current sensors and the rising production of hybrid and electric cars create a significant need for current sensors.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=26656433 

By 2026, the market for current sensors with an isolated current sensor is anticipated to grow significantly.

By 2026, the market for current sensors is anticipated to be dominated by isolated current sensors. Due to its adaptability to a variety of applications, magnetic current sensors are in higher demand globally, which is what is responsible for the segment's growth. In many applications, such as line-operated industrial and commercial motors, electric/hybrid electric vehicles (EVs/HEVs), solar arrays, home energy metering, and many other less-visible applications where high voltages and currents are common, the isolation of current sensing circuitry is also required for technical and regulatory reasons.

Consumer electronics will see the largest CAGR in the present sensor market between 2021 and 2026, based on end users.

During the projected period, the consumer electronics segment's sensor market is anticipated to develop at the greatest CAGR. Smartwatches, tablets, smartphones, and other home appliances are included in the consumer electronics segment. A variety of consumer electronic products can function better thanks to sensors, which also help to build powerful human-machine interfaces. Smart consumer electronics are being produced as a result of the advancement of technology utilised in consumer electronics, improving people's lifestyles. In the upcoming years, it is anticipated that consumer electronics will use current sensors more and more.

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APAC's current sensor market will experience the highest CAGR growth during the anticipated period.

Due to the rising use of these sensors in the manufacturing, automotive, building automation, and energy sectors, the APAC sensor market is anticipated to develop at the highest CAGR over the forecast period. APAC is one of the key markets for the automotive industry because of the rise in production and sales of passenger cars in nations like China, Japan, and South Korea. The market for current sensors is expanding in APAC due to the increasing use of isolated current sensors for electric and hybrid vehicles in the automotive industry.

ACEINNA (US), Melexis (Belgium), Allegro MicroSystems (US), TDK Corporation (Japan), LEM International (Switzerland), Infineon Technologies (Germany), Tamura Corp. (Japan), Texas Instruments (US), and Honeywell (US) are some of the major competitors in the market. To enhance their market shares, these businesses are progressively engaging in product launches and developments, acquisitions, collaborations, and expansions.

News Covered:

Current Sensor Market worth $3.8 billion by 2026 - Exclusive Report by MarketsandMarkets™

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