NEW YORK, Dec. 14, 2015 /PRNewswire/ -- "Advancement in the sensor technologies is the key driver for the growth of Hall effect current sensor market"
The Hall effect current sensor market is expected to grow from USD 737.2 million in 2015 to USD 1.10 billion by 2020, at a CAGR of 8.5% during the forecast period. The factors driving the Hall effect current sensor market are technological advancements (in sensors), easy installation process of these sensors, and use of galvanic isolation principle. Hall effect current sensors have continuously been evolving. These sensors are now manufactured with BiCMOS technology, a combination of bipolar junction transistor and complementary metal oxide semiconductor. BiCOMS have high current drive per unit, low input density, high power dissipation, and low noise as compared to conventional COMS technology.
"The automotive industry holds the largest share in the hall effect current sensor market in 2015"
The growth of the automotive electronic control systems is driven largely by the safety and driver convenience features, and is expected to significantly propel the demand of sensor technologies. As a result, the hall sensors, with their proven cost efficiency and performance, are emerging as the key technology with respect to the current measurement in automotive applications. Whereas consumer electronics is expected to grow at the highest CAGR in Hall effect current sensor market in the coming years.
"The Asia-Pacific region holds the largest share and expected to grow with highest CAGR in the hall effect current sensor market from 2015 to 2020"
APAC's market is currently riding on a prosperous growth curve in terms of consumption of Hall effect current sensors for various applications. Industries such as consumer electronics, automotive, and industry automation are expected to exhibit high growth in this region. Countries such as Japan, India, South Korea, and China are driving the market of Hall effect current sensors in this region. However, China's economic downturn could act as a hindrance to the growth of this regional market. North America is estimated to account for the second-largest market share by the end of the forecast period. The consumer electronics segment is the fastest-growing application segment of the Hall effect current sensor market in North America.
In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted with key people. Break-up of profile of primary participants is given below as:
Breakdown of profile of primary participants:
- By Company Type: Tier 1 - 60 %, Tier 2 - 25% and Tier 3 - 15%
- By Designation: C level - 50%, Director level - 40%, Others - 10%
- By Region: North America - 40%, Europe - 20%, APAC - 30%, RoW - 10%
The growth of the automotive electronic control systems market is generating huge opportunities in Hall Effect current sensor market as automotive sector is mainly driven by the safety and driver convenience features, and is expected to significantly propel the demand of sensor technologies. The key drivers fueling the demand for automotive sensors are the stringent environmental and safety legislations, cost savings, customer demand, developments in new vehicle technologies such as hybrid vehicles, and the growing passenger vehicle production.
Major players in the hall effect current sensor market are LEM Holding SA (Switzerland), ABB Ltd. (Switzerland), Honeywell Sensing & Controls (U.S.), and Tamura Corporation (Japan), Asahi Kasei Microdevices Corporation (Japan), Allegro Microsystems, LLC (U.S.), Infineon Technologies AG (Germany), Melexis NV (Belgium), Micronas Semiconductor Holding AG (Switzerland), and TDK Corporation (Japan).
Reasons to Buy the Report:
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the hall effect current sensor market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the sub segments across the different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
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