Industrial Current Sensor Market Scope
An industrial current sensor is a device that detects and converts current to an easily measurable output voltage, which is proportional to the current through the measured path. There are a wide variety of sensors that are based on different technology and have different characteristics for a variety of applications. They are mostly used in power electronics systems such as frequency converters, traction converters, UPS systems, or welding systems to quickly and accurately detect current.
The Industrial Current Sensor market study is segmented by Type (Open Loop Sensor and Closed Loop Sensor), by Application (Aerospace & Defense, Automotive, Consumer Electronics, Telecommunication, Industrial Automation, Utilities and Medical) and major geographies with country level break-up.
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Industrial Current Sensor market throughout the predicted period.
Honeywell International Inc. (Uni8ted States), Infineon Technologies (Germany), Eaton (Ireland), Allegro Microsystems (Uni8ted States), ABB Ltd. (Switzerland), STMicroelectronics (Switzerland), Melexis (Belgium), Harting Technology Group (Germany), Mors Smitt (United States) and Tamura Corporation (Japan) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are TE Connectivity (Switzerland), ICE Components Inc. (United States), TDK Corporation (Japan), Phoenix Contact (Germany) and Omron (Japan).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Industrial Current Sensor market by Type, Application and Region.
On the basis of geography, the market of Industrial Current Sensor has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
In 2016, TDK Corporation has acquired InvenSense, Inc. for USD 13.00 per InvenSense share, for a total acquisition price of USD 1.3 billion. This Acquisition promotes further growth in sensor and actuator products of TDK, and will strengthen TDK’s position as a stronger global player for sensor solutions.
On March 23, 2021, Allegro MicroSystems, Inc., has announced a new, coreless Hall-effect current sensor for demanding automotive and industrial systems. It offers higher accuracy and sensitivity, additional fault detection capabilities, and user programmability.
Market Trend
- Growing Trend in Current Switch/Relay Market such as Smarter Relays
Market Drivers
- Growing Demand from Power Electronics Applications to Protect Against Overload or Underload
- East Integration with the Existing System
Opportunities
- Technological Advancements such as New Microprocessor-based Current Sensors
- Increasing Demand from Transportation Sector such as Electric Vehicle
Restraints
- High Manufacturing and Operational Cost
Challenges
- Availability of Substitute Products
Key Target Audience
Industrial Current Sensor Manufacturers, Components & Parts Suppliers, Semiconductor & Electronics Company, Traders/Distributors/Exporters/Importers, Industry Bodies & Associations and Others
Customization available in this Study:
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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