Current sensors to see growth this decade despite COVID-19 impact now

biosensor roswell and imec
Sensors are used in a wide array of industries to collect data from cars, robots, planes and medical devices. COVID-19 will slow the sensors market some, but 8% annual growth is expected through 2030, according to Fact.MR. (Getty Images)

The global current sensors market is expected to grow 2.5 times in the next decade, reaching $2.7 billion by the end of 2030, according to market research by Fact.MR.  That’s an annual growth rate of about 8%.

Current sensors of the direct sensing type will dominate the demand, making up 75% of the global market, the firm said. Isolated circuit-based sensors will grow faster, however, because of mounting demand for IoT applications and auto industry advancements.

In North America, current sensors used in industrial automation and consumer electronics will dominate, making up more than half of the market share in the continent by 2030, and growing at a rate of 7% annually over the decade.  North America accounts for about 30% of the global market.

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Fact.MR said that the COVID-19 pandemic will affect demand and supply of current sensors, affecting growth but only for the near term.

Texas Instruments introduced a current-sense amplifier in 2019 called the INA 185, which is the smallest of its type in a leaded package, Fact.MR said. Other major players include Infineon Technologies AG, Honeywell International, TDK, Silicon Laboratories, Tamura, Melexis NV, Asahi Kasei Microdevices and Allegro MicroSystems.

Separately, the sensors market segment for Advanced Driver Assistance Systems is expected to grow 14%  annually over the next decade, according to a different market study by Future Market Insights.  That prediction comes as analysts there said the pandemic has brought auto manufacturing “to a screeching halt” leading to plummeting ADAS sensors sales through 2020. With vehicle manufacturing expected to fall as much as 50% in 2020 there will be bleak prospects for ADAS sensors in the near term.

RELATED: What is a sensor?

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