According to the research report titled ‘Asia Pacific Current Sensor Market Size By Technology, By Type, By End Use, By Application & Switched-Mode Power Supply), Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2020 – 2026’, available with Market Study Report, Asia Pacific current sensor market is projected to exceed USD 1 billion valuation by 2026, growing substantially between 2020-2026.
 

The ability of the product to decrease power costs, determine total energy consumption, and prevent damage to industrial equipment is a primary growth stimulant of Asia Pacific current sensor market.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/3855684/
 

For the unversed, current sensors are mainly used to detect & measure the amount of current running through a wire and generate a proportional output by using magnetic field. They can also to detect faulty machinery, which in turn will aid towards the market growth as well.
 

Moreover, customer inclination towards online services has resulted in a surge in number of data centers and e-governance projects. This in turn has prompted governments to announce favorable regulations & policies for data centers, thereby stimulating Asia Pacific current sensor industry outlook.
 

Based on type, Asia Pacific current sensor industry is divided into closed loop and open loop. The report cites that the closed loop segment is anticipated to grow at 9.5% CAGR between 2020-2026, primarily due to its extensive utilization for uninterrupted power supply and switch mode power supply in data centers. Moreover, Such current sensors offer higher accuracy, faster response rates, and linearity in data applications.
 

Speaking of end user spectrum, the market space is bifurcated into automotive, healthcare, industrial, telecom, consumer electronics, and others. Among these, Asia Pacific current sensor industry share from consumer electronics is estimated to expand at 4% CAGR. Surging demand for consumer electronics amidst the COVID-19 pandemic and support for manufacturing from governments of countries like India, South Korea, and China are key factors facilitating this segmental growth.
 

Key players profiled in the report are ACEINNA Inc., Vishay Intertechnology Inc., Asahi Kasei Microdevices Corporation, Vacuumschmelze GmBH & Co. KG, Honeywell International Inc., Littelfuse Inc., Texas Instruments Inc., Omron Corporation, TE Connectivity Corporation, Kohshin Electric Corporation, TDK Corporation, NVE Corporation, STMicroelectronics NV, Rohm Co. Ltd., and Tamura Corporation.