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Market Opportunities and Challenges in the Current Sensor Industry

The Current Sensor Market size is expected to reach USD 3.8 billion by 2026 from USD 2.3 billion in 2021, at a CAGR of 10.8% from 2021 to 2026

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Market Opportunities and Challenges in the Current Sensor Industry

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  1. MarketsandMarkets Presents The Global Current Sensor Market is expected to grow from USD 2.3 billion in 2021 to USD 3.8 billion by 2026; it is expected to grow at a CAGR of 10.8% during 2021–2026. Key factors fueling this markets growth include growing use of battery- powered systems and increasing focus on renewable energy, high adoption of Hall-effect current sensors, and increasing demand in consumer electronics industry. Deployment of IoT and IIoT with current sensors and increasing manufacturing of hybrid and electric cars create a strong demand for current sensor for efficient industrial operations in the midst of COVID-19.

  2. MarketsandMarkets Presents Isolated Current Sensor is expected to gain a significant share of Current Sensor Market by 2026 The Isolated Current Sensor is expected to account for the larger share of the Current Sensor Market by 2026. The growth of the segment can be attributed to the increasing demand for magnetic current sensors worldwide due to their usability in a wide range of applications.

  3. MarketsandMarkets Presents Isolated Current Sensor is expected to gain a significant share of Current Sensor Market by 2026 Moreover, the isolation of current sensing circuitry is needed for technical and regulatory reasons in many applications, such as line- operated industrial and commercial motors, electric/hybrid electric vehicles (EVs/HEVs), solar arrays, home energy metering, and many other less-visible applications, where high voltages and currents are common. Download PDF Sample @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=266 56433

  4. MarketsandMarkets Presents Based on End User, consumer electronics to witness the highest CAGR in Current Sensor Market during 2021–2026 The Current Sensor Market for consumer electronics segment is expected to grow with the highest CAGR during the forecast period. The consumer electronics segment includes home appliances, smartwatches, tablets, smartphones, etc. Sensors play an important role in improving the performance of a range of consumer electronic devices and creating effective human–machine interfaces. As technologies used in consumer electronics are evolving, smart consumer electronics devices are being manufactured, thereby leading to an improved lifestyle of people. Current sensors are expected to witness high adoption in consumer electronic devices in the coming years.

  5. MarketsandMarkets Presents Current Sensor Market in APAC to grow at the highest CAGR during the forecast period The Current Sensor Market in APAC is expected to grow at the highest CAGR during the forecast period attributed to the increased use of these sensors in the automotive, building automation, energy, and manufacturing industries. APAC is one of the important regions for the automotive industry due to increased passenger car manufacturing and sales in various countries such as China, Japan, and South Korea. The growing adoption of isolated current sensors for electric and hybrid vehicles in the automotive industry is driving the growth of the market for current sensors in APAC.

  6. MarketsandMarkets Presents Key Players Key Players in the market include Asahi Kasei Microdevices (AKM) (Japan), ACEINNA (US), Melexis (Belgium), Allegro MicroSystems (US), TDK Corporation (Japan), LEM International (Switzerland), Infineon Technologies (Germany), Tamura Corp. (Japan), Texas Instruments (US), and Honeywell (US). Browse For More Details - https://www.marketsandmarkets.com/Market-Reports/current- sensor-market-26656433.html

  7. MarketsandMarkets Presents About MarketsandMarkets™ MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

  8. MarketsandMarkets Presents Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: sales@marketsandmarkets.com Visit Our Website: https://www.marketsandmarkets.com Content Source: https://www.marketsandmarkets.com/PressReleases/current- sensor.asp

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