Current Sensor Market worth $5.41 billion by 2030 - Exclusive Report by MarketsandMarkets - Seite 2

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Fluctuations in accuracy of current sensors over varying temperature ranges

Key Market Opportunities

Increase in manufacturing of hybrid and electric cars

Key Market Drivers

Growing use of battery-powered systems and increasing focus on renewable energy

 The report also includes descriptions of various current sensing technologies such as magnetic current sensors, current sensing amplifiers, opto-isolated operational amplifiers, and shunt isolated operational amplifiers. The non-contact measurement and high precision of Hall-effect and flux gate magnetic sensors are predominant. Shunt-based and amplifier-based solutions, however, are gaining prominence in precision applications like industrial automation, energy management, and car power distribution.

The contact-based sensing segment to contribute significant share during the forecast period.

In 2024, contact-based sensing segment dominated the current sensor market based on current sensing method due to its high accuracy, cost-effectiveness, and wide range of applications across various industries, primarily automotive, industrial, and consumer electronics. Rising demand of current sensors in battery management systems (BMS) in electric vehicles (EVs) and hybrid electric vehicles (HEVs) has significantly contributed to the growing demand for contact-based sensors because they support proper battery performance and energy usage tracking. Industrial automation and power electronics markets also highly depend on shunt-based current sensing for motor control, energy metering, and power distribution units (PDUs), where precise current measurement is essential. Low cost and ease of integration with respect to the far more complicated non-contact variants are only reasons they continue to enjoy such domination in the market. As developments proceed with further minimization and highly accurate shunting technology, such sensors remain the preferred solution to applications that demand precise and accurate current sensing across low power as well as high-power systems.