LAMEA Current Sensor Market By Type (Open Loop and Close Loop), By Technology (Hall Effect, Current Transformer, Flux Gate and Others), By Output Type (Analog and Digital), By End User (Industrial, Automotive, Consumer Electronics, Telecommunication and Others), By Country, Growth Potential, COVID-19 Impact Analysis Report and Forecast, 2021 - 2027
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Market Report Description
The Latin America, Middle East and Africa Current Sensor Market would witness market growth of 10.1% CAGR during the forecast period (2021-2027).
In this region, Brazil is estimated to gain popularity in the demand for the current sensor market in the upcoming years. This is attributed to the presence of various factors like surging demand for high performance sensors, low-cost & reliable sensors, process automation, industrialization, and technological advancements. Also, the key factor for the rise in the demand for these sensors is that it is an energy-saving device.
In addition, Saudi Arabia would also witness lucrative growth opportunities as there are improvements in the technology, which led to the emergence of small-size sensors with reliability and optimal performance. Furthermore, the presence of small sensors that helps in decreasing the cost extremely is bolstering the market growth. These factors are expected to accelerate the growth of the global current sensor market during the forecast period. In contrast, the regional current sensor market is also facing some challenges like a lack of awareness about the benefits and features of these smart sensors.
The Brazil market dominated the LAMEA Consumer Electronics Current Sensor Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $10.5 million by 2027. The Argentina market would witness a CAGR of 11.3% during (2021 - 2027). Additionally, The UAE market is showcasing a CAGR of 10.4% during (2021 - 2027).
Based on Type, the market is segmented into Open Loop and Close Loop. Based on Technology, the market is segmented into Hall Effect, Current Transformer, Flux Gate and Others. Based on Output Type, the market is segmented into Analog and Digital. Based on End User, the market is segmented into Industrial, Automotive, Consumer Electronics, Telecommunication and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Current Sensor Market is Predict to reach $2 Billion by 2027, at a CAGR of 8.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Melexis N.V. (Xtrion N.V.), Allegro Microsystems, Inc. (Sanken Electric Co., Ltd.), LEM International S.A., Honeywell International, Inc., TDK Corporation, Texas Instruments, Inc., Infineon Technologies AG, Asahi Kasei Corporation, Tamura Corporation, and Aceinna, Inc.
Scope of the Study
Market Segments Covered in the Report:
- Open Loop
- Close Loop
- Hall Effect
- Current Transformer
- Flux Gate
By Output Type
By End User
- Consumer Electronics
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Melexis N.V. (Xtrion N.V.)
- Allegro Microsystems, Inc. (Sanken Electric Co., Ltd.)
- LEM International S.A.
- Honeywell International, Inc.
- TDK Corporation
- Texas Instruments, Inc.
- Infineon Technologies AG
- Asahi Kasei Corporation
- Tamura Corporation
- Aceinna, Inc.
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