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Global Current Sensor Market: Things to Focus on to Ensure Long-term Success 2020-2026

Current sensors are used in a variety of applications. In some devices, current sensors are used for control system diagnosis, power metering, the control of complex loads from electric motors and current supply measurement. While in others it is used for condition monitoring of rechargeable batteries and charge integration.

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Global Current Sensor Market: Things to Focus on to Ensure Long-term Success 2020-2026

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  1. Global Current Sensor Market: Leading Segments and their Growth Drivers 2026

  2. Industry Overview • Accordingly, to Global Market Insights research report global current sensor market Shifting trends towards factory automation with the advent of industry 4.0 along with demand for power management systems will drive industry outlook. • Current sensors are used in a variety of applications. In some devices, current sensors are used for control system diagnosis, power metering, the control of complex loads from electric motors and current supply measurement. While in others it is used for condition monitoring of rechargeable batteries and charge integration. • Specialized current sensor market are gaining witnessing major demand for application in commercial appliances, to offer safety cut-off features and surge trips. Large-scale automation of factories is generating huge demand for motor drives, converters and battery management, which are run by current sensors. Rapid expansion of automated manufacturing industries will bolster the demand for current sensors.

  3. Continue… • Massive expansion of telecom infrastructure along with deployment of 5G technology in developing economies of MEA and APAC region will favor business growth. The outbreak of COVID-19 has resulted in lockdown and associated trade restrictions worldwide which in turn has affected both demand and supply for current sensors. This may hinder industry growth for a short period. • However, overall growth in demand for intelligent and programmable current sensors will boost industry expansion over the coming years. Estimates suggest that global current sensor market will exceed the USD 3.5 billion mark by 2026. • Battery management is witnessing major demand due to rising application scope in automotive sector in EVs, automotive circuit protection systems and EV-charging stations. Rising adoption electric vehicles, plug-in Hybrid Vehicles and hybrid electric vehicles requiring rechargeable batteries will boost the deployment of battery management systems. Current sensor industry share from battery management application is set to grow at 5% CAGR through 2026.

  4. Browse Full Market Research Report @ https://bit.ly/3hYIFnx Request for a Sample of this Research report @ https://bit.ly/2PkQ9Fe

  5. Growth Drivers • Growing adoption of Hall effect technology in current sensor • Commercialization of industrial automation and IIoT • Flourishing automotive electronics component manufacturing in India • Increasing demand for hybrid and electrical vehicles globally • Rising trend toward renewable energy in power generation • Growing adoption of power management system in data centers

  6. Continue… • The competitive landscape of the global Current Sensor Market is inclusive of players such as Aceinna, Allegro Microsystems, LLC., Asahi Kasei Microdevices Corporation, Honeywell International Inc., Infineon Technologies AG, KOHSHIN ELECTRIC CORPORATION, Littelfuse, Inc., Melexis, NVE Corporation, Omron Corporation, ROHM CO. LTD., Sensitec GmbHs, Silicon Laboratories, STMicroelectronics N.V. , TAMURA Corporation, TDK Corporation, TE Connectivity, Texas Instruments Incorporated, VACUUMSCHMELZE GmbH & Co. KG, Vishay Intertechnology, Inc.

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