Global Current Sensor Market Analysis and Trends
New York, August 25, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Global Current Sensor Market Analysis & Trends – Industry Forecast to 2028” – https://www.reportlinker.com/p06127682/? Utm_source = GNW
8% over the period 2020 – 2028.
Some of the major trends seen in the market include the increased production of hybrid and electric cars, the deployment of IOT and IIOT with current sensors, and the increasing use of battery-powered systems.
Global Current Sensors Market: Market Dynamics
The widespread use of current sensors in the automotive industry is driving the growth of the market. As many vehicle components gradually automate, using assistance systems to assist drivers while ensuring safety, the use of electric currents is expanding significantly. In addition, electric motors are widely used for the electrification of vehicles such as cars to improve comfort and safety. This increases the use of a current sensor to measure for the optimization of consumption and the decrease of emissions to avoid the destruction of the electrical components in a vehicle, subsequently stimulating the growth of the current sensor industry. . The growing demand for current sensors, which can offer consistency and durability, is further boosting the growth of the current sensor market.
For example, the main car manufacturers in the region such as Audi, Groupe PSA, BMW Group, etc. deeply focus on the development of innovative automotive safety systems such as ADAS as well as self-driving cars. These technologies and systems are highly dependent on current sensors for their proper functioning.
On the other hand, intense price pressure leading to lower average selling prices is likely to obstruct the profit frontiers. In addition, the growing demand in the consumer electronics industry will further boost the current sensor market.
Impact of COVID-19 on the current sensor
The COVID-19 outbreak is negatively impacting the Current Sensor market. Lack of accessibility of raw materials and components due to supply chain disruption has hampered the production capacity of sensor manufacturers. A decline in the purchasing power of customers and a decline in the number of electric vehicles would further hamper the growth of the industry. However, the post-COVID-19 consequence will fuel the production of autonomous technologies, such as industrial robots and autonomous electric vehicles, which will accelerate the growth of the current size of the sensor market.
Isolated current sensor segment, dominates the market in 2020
The insulated current sensors segment generated huge revenue in 2020 and gained prominence during the forecast period. The expansion of the isolated current sensor can be attributed to the increasing demand for magnetic current sensors around the world due to their accessibility, in a wide variety of applications. In addition, the loneliness of existing detection circuits is vital for technical and regulatory reasons in many applications, such as industrial and commercial in-line drives, electric / hybrid electric vehicles (EV / HEV), gas meters. home energy, solar panels and many more. less visible applications, where high voltages and currents are general.
The Asia-Pacific region is a leader in the global market
Asia-Pacific is likely to experience huge demand during the forecast period due to the increased use of these sensors in the automotive, building automation, energy and manufacturing sectors. . Asia-Pacific is one of the important regions for the automotive industry due to the increased manufacture and sales of passenger cars in many countries such as China, Japan and South Korea. The growing acceptance of isolated current sensors for hybrid and electric vehicles in the automotive industry is propelling the growth of the current sensor market in the region.
The list of major profiled players in the market includes:
• Allegro Microsystems
• API technologies
• Eaton Corporation SA
• Honeywell International Inc
• Infineon Technologies
• Kohshin Electric Corporation
• Pulse Electronics Corporation
• Shenzhen Socan technology
• Stmicroelectronics SA
• Tamura Corporation of America
• TDK Company
• Texas Instruments
• Vacuumschmelze Gmbh & Co
The list of profiled regions / countries in the market includes:
• The rest of Europe
• New Zealand
• Rest of Asia-Pacific
• Saudi Arabia
• United Arab Emirates
• Rest of the Middle East
• Rest of Latin America
Rest of the world (RoW)
• South Africa
Read the full report: https://www.reportlinker.com/p06127682/?utm_source=GNW
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