In 2019,Motor driven current sensorThe demand exceeds $800 million and is expected to exceed $1 billion by 2026, mainly due to increased demand for industrial assets such as pumps, fans, blowers, and robots. The continuous development of technologies such as Industrial Internet of Things (IIoT) and cloud computing has driven the demand for industrial robots in the manufacturing industry, especially in countries such as China and South Korea, which has added opportunities to the current sensor market. These industrial robots require current sensing applications in circuits, DC motors, and servo systems to measure the precise power requirements and functionality of the robots.The upward trend of industrial automation is one of the main trends driving the demand for industrial robots in the manufacturing industry. This will increase the demand for electric motor drive, allowing robots to be powered by batteries and helping to drive heavy loads with appropriate current at the starting position. The increasing demand for environmentally friendly hybrid vehicles in the automotive industry will contribute to market growth, as the automotive market accounted for 40% of global sensor market shipments in 2019 due to technological developments in automotive systems such as ABS systems, autonomous driving technology, and ADAS. Current sensors have various applications in advanced automobiles, such as battery management, overcurrent protection, frequency converter control, and motor drive control. The integration of advanced automotive systems will further drive market growth.

These sensors also have high market opportunities in the fields of electric and hybrid vehicles. These sensors effectively monitor the current consumption of the battery and provide real-time information about the charging status and battery management. Due to the commitment of some countries to green energy initiatives and low fuel emissions, the increasing popularity of electric vehicles and hybrid electric vehicles (EV/HEV) will drive the current sensor market in the automotive industry.