The MarketsandMarkets research report, titled "Hall-Effect Current Sensor Market by Type, Technology, Output, Industry, and Region”, indicates that the market for Hall-effect current sensors is expected to grow from $906.7 Million in 2017 to $1,473.7 Million by 2023, at a CAGR of 8.4% between 2017 and 2023. Factors driving growth are continuous technological advancements, growing use of integrated and programmable current sensors (sensor fusion), advantage of galvanic isolation-based Hall-Effect current sensors, and growing demand for intelligent Hall-Effect current sensors.
Findings & Facts
- Hall-Effect current sensor market for closed-loop current sensors expected to grow at the highest CAGR during the forecast period
- Hall-Effect current sensor market for the automotive industry to grow at the highest CAGR between 2017 and 2023
- Asia Pacific expected to lead the Hall-Effect current sensor market between 2017 and 2023
- 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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