The current sensor market is projected to grow from USD 2.4 billion by 2019 to USD 3.6 billion by 2024 at a CAGR of 8.34%.


APAC is estimated to hold the major share of the current sensor market by 2019. This growth is mainly attributed to the population growth and rapid urbanization in developing economies, such as China and Japan, which have accelerated the regional development and would in turn boost the demand for current sensors from several end users, such as industrial, energy, telecom and networking, and healthcare sectors, and automotive and consumer electronics industries.

The countries measured in the region are China, India, Japan, Australia, and South Korea. Also, the rapid adoption of the renewable sources for power generation and electric vehicles in China is the major factor contributing to the growing current sensor market in APAC. China has the fastest adoption rate for new renewable energy sources. It also has the maximum number of new electric vehicles registered in the region. China and India were among the top 6 countries for the maximum installation of renewable energy in 2016, and China witnessed the growth of 78% in the registration of electric vehicles in 2017.

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A few key players operating in the current sensor market are Asahi Kasei Microdevices (Japan), Melexis (Belgium), Allegro Microsystems (US), Infineon Technologies (Germany), and Honeywell (US).

Asahi Kasei Microdevices (Japan) and Allegro MicroSystems (US) are among the major players in the current sensors market. Asahi Kasei Microdevices (Japan) is a leader in process control solutions and overall valve industry. The company provides advanced sensing solutions and superior mixed-signal integrated circuits (ICs). It has expertise in the design and manufacturing of high-performance analog and digital ICs. It operates in 2 major segments—Semiconductors and Magnetic Sensors. The company has a strong geographic presence with subsidiaries and affiliates in the US, France, South Korea, China, Japan, and Taiwan.

AKM offers 2 series of current sensors for industrial and automotive applications. The company provides open-loop current sensors that ensure high accuracy and fast response time. These sensors have applications in inverter control, overcurrent detection, and electrical power detection, among others. The company spends heavily on the development of new products and technologies to strengthen its portfolio. AKM continuously realigns its business strategies to meet the changing needs of its customers and proactively branches into new fields to expand its business. It focuses on enhancing its ability to create new businesses by connecting its technologies, business models, and human resources internally as well as externally through joint R&D, business alliances, and mergers and acquisitions.

Flowserve is a leading manufacturer and aftermarket service provider of flow control products. It develops, manufactures, and markets high-performance semiconductors. The company provides high-performance current sensor ICs for automotive and industrial applications. It focuses on innovation in the areas of motor control, regulation, and magnetic field sensing applications. Product innovation has always been a prominent part of Allegro MicroSystems’ growth strategy for expanding its market presence.

The company has recently launched many current sensors ICs for automotive, industrial, consumer electronics, and other applications. For future growth, Allegro MicroSystems is likely to focus on providing the best of the next-generation sensor type, giant magnetoresistance (GMR) sensors. The company has more than 300 leading global original equipment manufacturers (OEMs) and distributors to sell its products in all the major regions. Allegro MicroSystems has a strong presence in most of the emerging economies. In April 2018, Allegro MicroSystems launched a new high-precision, back-biased, programmable Hall-Effect sensor IC. It includes differential Hall elements and is packaged in a custom back-biased package that includes an integrated magnet. In March 2018, Allegro MicroSystems launched a new family of current sensor ICs that provide economical and precise solutions for AC or DC current sensing. This new family can be used in automotive and industrial applications, with an accuracy of ±2.1% over the lifetime of the IC.

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