By 2026, Asia Pacific current sensor market size is expected to surpass $ 1 billion, driven by the expanding deployment across the IT & telecom industry. Although the COVID-19 pandemic led to severe losses across industries worldwide during 2020, with a large percentage of population being vaccinated against the virus, the next few years are to see remarkable industrial growth in Asia. Also known as current transformers (CTs), current sensors are devices that are primarily used across various industry applications for measuring the current running through a wire using the magnetic field for detecting the current and generating a proportional output.
They are instrumental in determining how much energy is being consumed and when so that power costs can be reduced. As these sensors can assist in the detection of faulty machinery, they can prevent damage to industrial equipment to a considerable extent. The automotive, healthcare, and consumer electronics verticals are also expected to boost growth.
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Additionally, as customers are turning toward online services, a growing number of e-governance projects and data centers are emerging in Asia. This trend has influenced several governments to embrace new regulations and policies pertaining to data centers across the region. For instance, during November 2020, the Indian Ministry of Electronics and Information Technology (MeitY) announced a new data center policy for accelerating infrastructural status by bringing in more investments.
In terms of end-use, Asia Pacific current sensor market share is expected to gain considerably from the consumer electronics segment, which is expected to grow at more than 4% CAGR through the coming years. This is because smartphones, tablets, laptops, vacuum cleaners, microwave ovens, and washing machines, among other consumer electronics.
Some of these products have been witnessing tremendous demand despite the pandemic situation. Owing to the commendable support toward manufacturing activities from the governments of countries including South Korea, India, and China, APAC current sensor market is certain to expand through 2026. By types of current sensors, Asia Pacific current sensor market forecast is categorized into open loop current sensors and closed loop current sensors.
Closed loop current sensors are expected to see a growth rate of 9.5% through 2026, as data centers have been utilizing these devices for switch-mode power supplies (SMTS) and uninterrupted power supplies (UPS) through the measurement of direct current (DC), alternating current (AC), and impulse currents. As they help considerably in attaining faster response rates, higher accuracy and linearity in data applications, Asia Pacific current sensor market share is expected to augment.
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Some of the leading current sensors manufacturers for Asia Pacific are Honeywell International Inc., Omron Corporation, Allegro Microsystems, LLC, Infineon Technologies AG, and Littelfuse, Inc.
Table of Contents (ToC) of the report:
Chapter 1 Methodology and Scope
1.1 Research methodology
1.2 List of data sources
1.2.1 Secondary
1.2.2 Primary
Chapter 2 Executive Summary
2.1 Asia Pacific current sensor market snapshot
Chapter 3 Asia Pacific Current Sensor Insights
3.1 Industry coverage
3.2 Industry size, 2016 – 2026
3.3 Impact of COVID-19 pandemic
3.4 Value chain analysis
3.4.1 Company product snapshot
3.5 Innovation landscape
3.6 Regulatory norms & directives
3.7 Drivers & restraints
3.7.1 Market drivers
3.7.2 Market restraints
3.8 Industry analysis - Porter's
3.9 Competitive benchmarking, 2019
3.9.1 Strategy dashboard
3.10 PESTEL analysis
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