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Hall Effect Current Sensor Market Challenges, Key Players Overview by 2023
The Hall-Effect current sensor market is expected to grow from USD 906.7 Million in 2017 to USD 1,473.7 Million by 2023, at a CAGR of 8.4% between 2017 and 2023.
Hall-Effect current sensors play a vital role in current measuring applications in various industries such as industrial automation, consumer electronics, automotive, medical, utilities, aerospace & defense, telecommunication, and railways. The Hall-Effect current sensor Market is expected to be valued at USD 1,473.7 million by 2023, growing at a CAGR of 8.4% between 2017 and 2023. The growth of this market is propelled by the continuous technological advancements in Hall-Effect current sensors, growing use of fully integrated and programmable current sensors, advantage of galvanic isolation-based Hall-Effect current sensors, and growing demand for intelligent Hall-Effect current sensors.
LEM Holding SA (Switzerland), Allegro MicroSystems LLC (USA), Honeywell International Inc. (US), TDK Corporation (Japan), KOHSHIN ELECTRIC CORPORATION (Japan), and ABB Ltd (Switzerland) are the leading players in the Hall-Effect current sensor market. Product developments, distribution agreements, expansions, acquisitions, and partnerships are some of the key strategies adopted by the major players to gain a competitive edge in this market.
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LEM is one of the key players in the Hall-Effect current sensor market. The company offers open-loop and closed-loop current sensors based on BiCMOS or CMOS technology. It caters to innovation-driven growth markets, such as industrial automation, automotive, and consumer electronics, by offering fully integrated and programmable current sensors based on the Hall-Effect technology. LEM concentrates on business strategies such as acquisitions, agreements, partnerships, and distribution contracts. For instance, in May 2016, LEM introduced digital output versions of HO and HLSR open-loop Hall-Effect current transducers with analog to digital (A/D) conversion. It operates using an onboard sigma-delta modulator and gives a 1-bit serial bit stream output. The new transducers can use a supply voltage of 3.3 V or 5 V, and the operating temperature range is from −40°C to +105°C.
Allegro is one of the biggest players in the Hall-Effect current sensor market. The company provides Hall-Effect current sensor for industrial automation, consumer electronics, automotive, medical, utility, and telecommunication. Allegro majorly focuses on the strategy of product development to accelerate its organic growth and strengthen its product portfolio. For instance, in April 2017, Allegro introduced a new optimized Hall-Effect integrated circuit (IC) ATS699 and rare earth pellet combination that provides a user-friendly solution for direction, detection, and true zero-speed digital gear-tooth sensing.
This new IC employs patented algorithms for the special operational requirements of automotive transmission and recreational vehicle applications. It is also compatible with non-automotive applications such as white goods, gymming equipment, and industrial equipment. In January 2017, Allegro introduced a new dual die, highly programmable linear hall sensor IC that is an ideal solution for safety-critical applications. It incorporates full die redundancy with the added benefits of full diagnostics. The combination of these two features allows for a higher level of diagnostics without interruption in the application.
Other major companies operating in the Hall-Effect current sensor market are STMicroelectronics N.V. (Switzerland), Asahi Kasei Microdevice Corporation (Japan), Infineon Technologies AG (Germany), Melexis NV (Belgium), VACUUMSCHMELZE GmbH & Co. KG (Germany), American Aerospace Controls (US), ELECTROHMS PRIVATE LIMITED (India), KOHSHIN ELECTRIC CORPORATION (Japan), NK Technologies (US), Pulse Electronics (US), NXP Semiconductors (Netherlands), HARTING Technology Group (Germany), Telcon Ltd (UK), Magnesensor Technology (MST) (US), Vishay Intertechnology, Inc. ((US), and Measurlogic, Inc. (US
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