Worldwide hall-effect current sensor market request is expected to be esteemed at US$1128.0Million in 2022, estimate to develop at a CAGR of 9.4%to be esteemed at US$2765.0Million from 2022 to 2032. Development is credited to the rising interest in end-use enterprises like modern mechanization, car, and customer hardware. From 2016-2021 a CAGR of 7.4% was enlisted for the hall-effect current sensor market.
Covering a gamut of applications, Hall-Effect Current Sensor derives its applications in solar inverters, solar panel tracking, motor current sensing, robots, machinery, conveyor belts, escalators, moving cranes, consumer electronics devices and automotive. The growing need for current measurement rises the demand for Hall-Effect Current Sensors.
Current measurement is necessary for a variety of applications in various industries. Hall-Effect Current Sensor is a magnetic sensor which can sense current in any device and works on Hall Effect principle, which states that if a current carrying conductor is placed near a magnetic field, a voltage will be generated which will be directly proportional to the product of the current and magnetic field.
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Global Hall-Effect Current Sensor Market: Market Dynamics
Rising use of fully programmable current sensors due to the continuous technological advancements and the developmental strategies implemented such as contracts and agreements, product developments, partnerships, and expansions implemented by competitive players are the primary factors driving the growth of the market.
Also Hall Effect sensors offer various benefits such as high speed operations, broad operating temperature range, ease of use, cost effectiveness, robust & reliable performance with logic compatible input and output. These are some necessary features are required for the advanced electronics which we use today.
Also the Hall-Effect Current Sensor is a critical component in almost every industry. Like in automotive industry the Hall-Effect Current Sensor is used 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. Also the rising demand for electric vehicles is expected to drive the market in near future.
However, low cost Hall-Effect Current Sensor with poor performance can thwart the growth of Hall-Effect Current Sensor market.
Global Hall-Effect Current Sensor Market: Regional Outlook
Regionally, the global Hall-Effect Current Sensor market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa (MEA), Asia Pacific excluding Japan (APEJ) and Japan.
The APAC region is expected to be the fastest-growing region for Hall Effect current sensors market. The major reason being the increasing adoption of Hall Effect current sensors is in automotive industries. While North America, an early adopter of the technology exhibited a significant growth, the trend expected to continue over the forecast period.
In the developed economies of the US and Canada, there is a high focus on innovations obtained from Research and Development (R&D) to increase accuracy and thus is expected to boost the market growth.
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Global Hall-Effect Current Sensor Market: Competition Landscape
The key vendors in the global Hall-Effect Current Sensor market are ABB Ltd, Honeywell International, Inc., STMicroelectronics N.V., Allegro MicroSystems LLC., Asahi Kasei Microdevice Corporation, Infineon Technologies AG, Melexis NV, LEM Holding SA, TDK Corporation and Kohshin Electric Corporation. Collaborating with other manufacturers in the Hall Effect current sensors market is the key strategy followed by major market vendors to gain competitive edge.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
- In February 2021- Allegro Microsystems, Inc. introduced the A17700, an automotive-grade interface IC for resistive bridge pressure sensors featuring top-of-the-line signal conditioning algorithms. The A17700 delivers premium performance and increased system efficiency with flexible interface options – all in a small form factor.
- In June 2020, Allegro MicroSystems, LLC introduced an advanced hall-effect current sensor with accurate 400 kHz Current Sensor IC with 5 kV isolation rating. Enabling more efficient power conversion in higher frequency switching applications, the ACS37002 has 400kHz sensing bandwidth up to 180 A with low offset and better than 1% typical total accuracy over the full –40°C to 150°C auto temperature range.
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Key Segments Profiled in the Hall-Effect Current Sensor Industry Survey
Hall-Effect Current Sensor Market by Technology:
- BiCMOS
- CMOS
- High Power Dissipation
- Low Input Density
- High Current Drive
Hall-Effect Current Sensor Market by Industry:
- Industrial Automation
- Automotive
- Consumer Electronics
- Telecommunication
- Utilities
- Medical
- Railways
- Aerospace & Defense
Hall-Effect Current Sensor Market by Region:
- North America Hall-Effect Current Sensor Market
- Latin America Hall-Effect Current Sensor Market
- Western Europe Hall-Effect Current Sensor Market
- Eastern Europe Hall-Effect Current Sensor Market
- Asia Pacific Hall-Effect Current Sensor Market
- Japan Hall-Effect Current Sensor Market
- Middle East and Africa Hall-Effect Current Sensor Market
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