PUNE, India, September 19, 2017 /PRNewswire/ --
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.
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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"
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"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.
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"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.
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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).
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