Current Sensor Market Size By Type (Closed Loop, Open Loop), By Technology (Micro-Electromechanical System (MEMS), Hall Effect, Shunt, Fluxgate, Magneto Resistive), By End Use (Automotive, Consumer Electronics, Industrial, Healthcare, Telecommunication),

Current Sensor Market Size By Type (Closed Loop, Open Loop), By Technology (Micro-Electromechanical System (MEMS), Hall Effect, Shunt, Fluxgate, Magneto Resistive), By End Use (Automotive, Consumer Electronics, Industrial, Healthcare, Telecommunication), By Application (Motor Drive, Converter & Inverter, Battery Management, Uninterrupted Power Supply (UPS) & Switched-Mode Power Supply (SMPS)), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 - 2026

The current sensor market is likely to witness healthy revenue growth owing to the rising trend of smart-home automation and the increasing adoption of Internet of Things applications. Current sensors also known as current transformers are basically devices measuring the current that is running through a wire by utilizing the magnetic field for detecting the current and produce a proportional output. Current sensors are utilized with both AC as well as DC power supply. These further allows measuring current passively, without disturbing the circuit in any possible way.

In addition, with technological advancements the current sensor technology is also beneficial to the energy sector. These sensors are utilized in the energy sector to generate savings in both energy and cost. As a result, current sensors are one of the most common sensor technologies utilized in development of smart homes across the globe.

The current sensor market is bifurcated in terms of type, technology, application, end-use, and regional landscape.

Based on technology, the current sensor market is classified into magneto resistive, flux gate, shunt, hall effect, and MEMS. Among these, the MEMS segment held a market share of over 5% in 2019 owing to the growing adoption of the products in the automotive sector, attributing to their high accuracy and low cost. The technology is extensively used for the purpose of passenger safety, tire pressure detection, antitheft systems, vehicle dynamic control, detection of rollover & skidding, vehicle navigation system, and electronic stability control of the vehicles among others.

In terms of application, the overall current sensor market is segmented into UPS & SMPS, battery management, converter & invertor, motor drive, and others. The converter & invertor segment held a market share of more than 20% in 2019 owing to the growing product adoption in telecom and data centers to minimize energy use and offer higher resilience.

With respect to end-use, the current sensor market is categorized into telecom, healthcare, industrial, consumer electronics, automotive, and others. The telecom sector will witness growth rate of nearly 5% over the forecast time period due to rising initiatives for 5G deployment and infrastructure development worldwide. Several global economies are actively transitioning to the 5G infrastructure, which is creating numerous lucrative business opportunities for the market.



From a regional frame of reference, Middle east & Africa region held a market share of nearly 8% in 2019 owing to the rapidly growing trend of smart home automation in the region. The use of IoT technologies is reshaping the industry practices and automating operations to improve efficiencies, driving revenue growth in the region.