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Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Hall-Effect Current Sensors market. Market segmentation includes Type (Open-Loop, and Closed-Loop); Technology (BiCMOS, and CMOS); End-Use (Industrial Automation, Automotive, Consumer Electronics, Telecommunications, Utilities, and Other End-Uses).

Find Out More About Regions, Brands, Dominant, Active & Niche Companies Covered in the Report

24 November 4:22 a.m., Silicon Valley, California - According to the new market research report, the global market for Hall-Effect Current Sensors is projected to grow at a CAGR of 6.7% to reach US$1.4 billion by 2027, driven by increasing requirement to measure current in various industrial applications related to robotics, solar inverters and motor current sensing. The global Hall-Effect Current Sensors market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Open-Loop, one of the Hall-Effect Current Sensors type analyzed and sized in this study, is forecast to grow at over 6.5% and reach a market size of US$735.4 million by the end of the analysis period. The United States is forecast to readjust to a 6.6% CAGR. Within Europe, the worst affected by the pandemic, Germany will reach a market size of US$103 million growing at a CAGR of 6.4% over the next couple of years. In addition, over US$55.3 million worth of projected demand in the region will come from Rest of European markets. In Japan, the BiCMOS technology segment will reach a market size of US$116.8 million by the close of the analysis period. Facing a global backlash over the coronavirus outbreak and spread, China the world's second largest economy faces economic and geopolitical challenges including economic distancing which can likely put China's monopoly of global supply chains in crisis. The Industrial Automation end-use segment in this country against this backdrop will grow at a CAGR of 6.0% over the next couple of years to create an addressable market opportunity worth US$47.9 million by the year 2027.

The global market for hall-effect current sensors is expected to display impressive gains over the medium term, except for the temporary decline in 2020 mainly because of COVID-19 induced recessionary environment, due to extensive use of these devices in a comprehensive spectrum of industries and applications. These devices are commonly used in static converters, servo motor drives, DC motors, UPS devices, power supplies and batteries. The market expansion is stimulated by rising adoption of integrated and programmable current sensors as a result of technological advances along with consistent growth of the consumer electronics and automotive industries. Hall-effect current sensors are widely employed in automotive applications to control current, protect devices from over-current and power management. The market is slated to receive a notable boost from rising adoption of hybrid and electric vehicles in the future. Hall-effect current sensors deliver various advantages including extensive operating temperature range, high-speed operations, reliable performance and cost-effectiveness. Built on advanced semiconductor materials, these devices feature low carrier density and small conductivity. These merits make them perfect option for sophisticated electronics. The growth of Hall-effect current sensors is also augmented by increasing implementation of smart hall-effect sensors in several industries and advantages of galvanic isolation-based sensors. The high accuracy and faster response times have fueled the adoption of closed-loop current sensors in various applications such as aerospace & defense, medical and automotive. Future growth of the market is expected to be favored by ongoing advancements in consumer electronics and automotive industries that are creating the requirement of high-end sensing solutions. On the flip side, cheap sensors with poor performance and irregular magnetic strength that affects current flow remain key concerns that are likely to hinder the market growth. In addition, mounting competition across key end-use industries is prompting various players to demand low-cost hall-effect current sensors, which is eroding profit margins of vendors. However, increasing focus on energy measurement owing to rapid industrialization and urbanization along with potential use in eco-friendly hybrid and electric vehicles are expected to set a perfect ground for future expansion of the global Hall-effect current sensor market.

Research Methodology
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. The views, opinions and findings presented are based on validated engagements from a total executive pool size of 1218. Among this pool, 219 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 49 unique participations, a total of 22 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.

Key Competitors Covered in the Report -
Honeywell International, Inc.
ABB Ltd.
STMicroelectronics NV
Infineon Technologies AG
TDK Corporation
Melexis NV
Allegro MicroSystems LLC
Asahi Kasei Microdevices Corporation
Pulse Electronics Corporation
Vacuumschmelze GmbH & Co. KG
American Aerospace Control
Lem Holding SA

Segments Covered in the Report -
Type (Open-Loop, Closed-Loop)
Technology (BiCMOS, CMOS)
End-Use (Industrial Automation, Automotive, Consumer Electronics, Telecommunications, Utilities, Other End-Uses)

Geographies Analyzed in the Report -
World
USA
Canada
Japan
China
Europe
France
Germany
Italy
UK
Spain
Russia
Rest of Europe
Asia-Pacific
Australia
India
South Korea
Rest of Asia-Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Rest of World.

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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world`s only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.

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