According to the new market research report “Hall-Effect Current Sensor Market by Type, Technology, Output (Linear and Threshold), Industry (Industrial Automation, Automotive, Consumer Electronics, Telecommunication, Utilities, Medical, Railways), and Region – Global Forecast to 2023”, published by MarketsandMarkets™ , the market is expected to grow from USD 906.7 Million in 2017 to USD 1,473.7 Million by 2023, at a CAGR of 8.4% between 2017 and 2023. The factors driving the growth of this market are the continuous technological advancements, growing use of fully integrated and programmable current sensors, advantage of galvanic isolation-based Hall-Effect current sensors, and growing demand for intelligent Hall-Effect current sensors.
Browse 69 Market Data Tables and 45 Figures spread through 151 Pages and in-depth TOC on “Hall-Effect Current Sensor Market – Global Forecast to 2023”
Download PDF Brochure:
Hall-Effect current sensor market for closed-loop current sensors expected to grow at the highest CAGR during the forecast period
The Hall-Effect current sensor market for closed-loop current sensor is expected to grow at the highest CAGR between 2017 and 2023. Closed-loop current sensors help end users by providing higher accuracy and faster response time for current sensing applications.
Hall-Effect current sensor market for the automotive industry to grow at the highest CAGR between 2017 and 2023
The automotive industry is expected to witness the highest CAGR in the overall Hall-Effect current sensor market between 2017 and 2023. In the automotive industry, current measurement is required for applications such as current control, protection of devices from overcurrent, and power management including control of motor drives, converter control, overcurrent protection, and battery management. The growing demand for eco-friendly electric and hybrid electric vehicles in the automotive industry would drive the Hall-Effect current sensor market.
Asia Pacific expected to lead the Hall-Effect current sensor market between 2017 and 2023
Asia Pacific is expected to hold the largest size of the Hall-Effect current sensor market during the forecast period. This is mainly attributed to the high growth in emerging economies such as China, India, South Korea, and Japan, where there is a rising need for power management. With the growing trend of cloud connectivity in APAC, industries would adopt Industrial Internet of Things (IIoT)-based current sensors for current measurement applications in this region.
Inquiry Before Buy @ http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=201606539
The major players operating in the Hall-Effect current sensor market are ABB Ltd (Switzerland), Honeywell International, Inc. (US), STMicroelectronics N.V. (Switzerland), Allegro MicroSystems LLC (USA), Asahi Kasei Microdevice Corporation (Japan), Infineon Technologies AG (Germany), Melexis NV (Belgium), LEM Holding SA (Switzerland), TDK Corporation (Japan), and Kohshin Electric Corporation (Japan).
Browse Related Reports
Magnetic Sensor Market by Type (Hall Effect, Magnetoresistive (AMR, GMR, TMR), SQUID, Fluxgate)), Range (<1 Microgauss, 1 Microgauss–10 Gauss, and >10 Gauss), Application, End-User Industry, Geography – Global Forecast to 2023
E-Compass Market by Technology (Fluxgate, Hall Effect, Magnetoresistive), Type (1&2 Axis, 3 Axis, 6 Axis, 9 Axis), Application (Consumer Electronics, Aerospace & Defense, Automotive, Surveying, Marine) and Geography – Global Forecast to 2022
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.