Current Sensor Market Size for Automotive Sector is expected to witness fastest growth over 2019-2025

The automotive sector is expected to be one of the major application areas in the current sensor market. Automotive electronics are being highly developed owing to the growing demand for comfort & safety features in automotive such as electric steering systems, Advanced Driver Assistance Systems (ADAS), and others. Automotive manufacturers are adopting these components owing to the need for overcurrent protection, power management systems, and current control.

The closed-loop sensors are expected to witness growth in their adoption in the current sensor market owing to their advantages offered by them such as higher accuracy and faster response times. The faster response time of these components is useful in protecting semiconductor switches such as IGBTs and MOSFETs. These benefits make them an ideal choice in industries, such as aerospace, defense, and automotive, where accuracy is of vital importance. Additionally, the closed loop sensors eliminate the errors due to nonlinearity and sensitivity in the system.

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The current sensor market is witnessing developments in products such as hall effect sensors. The hall effect sensor has gained wide adoption in multiple applications owing to its advantages, such as very low power consumption, which reduces current consumption as low as microamps. These sensors are non-contacting, keeping them wear-free and giving them a long life. Additionally, hall effect sensors can be used in harsh environments and are highly reliable.

Asia Pacific is expected to be the key region for the current sensor market due to large requirements of current measurement devices owing to industrial developments and growth of the automotive sector. China, for instance, has very a large industrial sector where several manufacturers form industries such as electronics, automotive, and others.

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Allegro Microsystems, Koshin Electrin, ACEINNA, Asahi Kasei Microdevices, LEM International, Silicon Labs, and Melexis are some of the major players in the current sensor market. Companies are focusing on new product developments to increase market share in the market. For instance, in June 2019, ACEINNA expanded its range of products and the newly added products are capable of supporting 3.3 volts application, offering higher accuracy and wide bandwidth

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