Current Sensor Market Expected to Reach $2.61 Billion by 2027, Emerging Trends, Size, Share, and Key Dynamics
November 26, 2021
PORTLAND, OREGON, UNITED STATES, November 26, 2021 /EINPresswire.com/ -- Current sensors, also commonly referred to as current transformers or CTs, are devices that measure current running through a wire by using magnetic field to detect the current and generate a proportional output. They are used with both AC and DC current. They are used in various applications such as motor driving circuits and inverter circuits. The current sensors are used in various industries such as automotive, consumer electronics, and telecommunication.
Allied Market Research published latest report, titled, “Current Sensor Market by Type (Open Loop and Closed Loop), Current Sensing Technology (Hall Effect, Current Transformer, Flux Gate, and Rogowski Effect), and End Use (Automotive, Consumer Electronics, Industrial, Telecommunication, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027.” According to a report, the global current sensor industry size was valued at $1.65 billion in 2019, and is projected to reach $2.61 billion by 2027, growing at a CAGR of 6.3% from 2020 to 2027.
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The global Current Sensor Market report provides an in-depth study of the market dynamics such as drivers, restraints, opportunities, and the current market scenario. The report also focuses on the subjective aspect of the industry. Furthermore, the Current Sensor Market takes in the key findings, in regards to market overview and investment opportunities. At the same time, the report also encompasses the competitive landscape including comprehensive profiles of the major frontrunners in the industry.
The leading players are considered based on their revenue size, product portfolio, market share, key marketing stratagems, and overall contribution to the market growth.
Major players profiled in the report are Infineon Technologies, Honeywell International Inc., Texas Instruments, Allegro MicroSystems, LLC, Tamura Corp., TDK Corporation, LEM International SA, Pulse Electronics, Eaton Corporation PLC, Sensitec GmbH
The global Current Sensor Market share is analyzed on the basis of type, application, end user, and region. By region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. The region across North America is classified into the U.S, Canada, and Mexico. Europe includes countries such as Germany, the UK, France, Italy, Spain, and rest of Europe. At the same time, Asia-Pacific covers countries such as Japan, China, South Korea, India, and rest of Asia-Pacific. Finally, LAMEA is segmented into Latin America, the Middle East, and Africa
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COVID-19 impact analysis
The outbreak of the COVID-19 pandemic left a significant impact on the global economy. The Current Sensor Market report provides a detailed study of the micro- and macro-economic impacts of the pandemic. Moreover, the analysis depicts the direct impact of COVID-19 on the Current Sensor Market growth. It recapitulates the detailed information about the market extent and shares owing to the impact of the outbreak. The report also emphasizes on the supply chain and the Current Sensor Market sales. Last but not the least; the study also exhibits a post-COVID-19 scenario, portraying different measures and initiatives taken by the government bodies across the world.
• Qualitative as well as quantitative assessment of the market on the basis of the detailed categorization involving both the economic and non-economic factors.
• Analysis at country and regional level, which portrays the Current Sensor Market share of the product or service in different regions.
• Elaborative company profiles section, which provides different pointers such as key executives, business enactment, company overview, product/service portfolio, R&D expenditure, current scenario, and prime strategies of the key market players.
• The forecasted market outlook of the Current Sensor Market based on recent developments, which incorporate the analysis of drivers, market trends, and growth opportunities.
• The COVID-19 impact on the Current Sensor Market Growth
• Post-sales support and free customization
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