Charting Progress: Current Sensor Market Eyes $4.7 Billion Milestone by 2028
It is anticipated that the Current Sensor Market , which was estimated to be worth USD 2.8 billion in 2023, will expand significantly to USD 4.7 billion by 2028. This growth trajectory shows a strong 10.4% compound annual growth rate (CAGR) for the 2023–2028 forecast period. This market expansion is the result of several factors, one of which is the rising need for current sensors in a variety of industries, including consumer electronics, healthcare, industrial, and automotive. These sensors are essential for keeping an eye on and managing electrical currents in a variety of applications while maintaining dependability, efficiency, and safety. The market is expanding further due to technological developments that improve sensor sensitivity, accuracy, and miniaturisation. The need for current sensors is predicted to be high in the upcoming years due to the ongoing development of electrical systems and the growing emphasis on sustainability and energy efficiency. Download PDF Brochure