Global Industrial Current Sensor Market 2017-2021
About Industrial Current Sensor
Current sensors can read determine the type of current that is AC or DC, after which they generate analog or digital signals. Current sensors detect and convert an electric current to an output voltage that can easily be measured. Current sensors work on two current levels that are AC and DC. The current sensing process through DC involves measuring the drop in voltage, which is associated with the current passing through passive electrical components. While in AC, the measurement of the magnetic field surrounding the conductor takes place through which the AC current passes. These are the two most basic principles on which the current sensors.
Technavio’s analysts forecast the global industrial current sensor market to grow at a CAGR of 9.58% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global industrial current sensor market for 2017-2021. To calculate the market size, the report considers the new installations, sales, replacement, retrofit and services market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Industrial Current Sensor Market 2017-2021
Technavio recognizes the following companies as the key players in the global industrial current sensor market: Honeywell, Infineon Technologies, Eaton, and Allegro MicroSystems.
Other Prominent Vendors in the market are: Shenzhen Socan Technology, Pewatron, VACUUMSCHMELZE,
VPInstruments, DENT Instruments, and J&D.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Rising adoption of IIoT. The IIoT enables a large number of sensors to get connected to the overall industrial facility through the cloud technology. With the help of the IIoT, many current sensors that are deployed in different points within an industry can be integrated as one unit, as the response generated by each sensor is obtained at one place. Through smart current sensors, applications carried out in harsh atmospheres can be analyzed properly to derive meaningful information. Smart sensors enable operations to be carried out with less downtime, they minimize the lead-time, reduce inventory level, and enable better efficiency in processes.”
According to the report, one of the major drivers for this market is Current sensors are easy to integrate with existing applications. Current sensors are small and easy to integrate into equipment. Industries do not need any additional devices to measure current if they have deployed current sensors. These sensors are sufficient to calculate and regulate current efficiently. Therefore, there is no additional space required for mounting many devices on an equipment. Without changing the existing infrastructure, these sensors can also be mounted easily on an equipment placed in remote areas of industries. Current sensors are easily switchable from one version to another. This makes it convenient for end-users to retain their existing infrastructure or processes and accommodate any current sensor available in the market seamlessly into the operations.
Further, the report states that one of the major factors hindering the growth of this market is Connectivity challenges of current sensors. Sensors are used for several processes within a facility and exist in various easily mountable formats. These sensors are connected to the Internet to collate data generated from different current sensors attached within industries. However, the Internet access becomes a significant problem for the end-users. The differences in the level of connection results in discrepancies in readings obtained from sensors. This connectivity challenge impacts the effectiveness of current sensors. The variability in readings obtained affects the processes within the facilities.
Honeywell, Infineon Technologies, Eaton, Allegro MicroSystems, Shenzhen Socan Technology, Pewatron, VACUUMSCHMELZE, VPInstruments, DENT Instruments, and J&D.