current sense amplifier Market

The current sense amplifier market size is expected to grow from US$ 3,668.48 million in 2023 to US$ 5,975.52 million by 2030; it is estimated to record a CAGR of 7.2% from 2023 to 2030.

A current sense amplifier is a special-purpose integrated circuit differential amplifier that provides an analog output voltage equivalent to current flowing into a load connected to its input. It is built to measure the voltage developed across the current shunt, resistor, and output a voltage proportional to the gauged current. The global current sense amplifier market is witnessing significant growth in various industries such as aerospace, automobile, and manufacturing industry due to which the demand for high voltage and precision current sensing amplifiers is rising. Manufacturers are expanding their production capabilities to cater to the growing needs of bidirectional and unidirectional measurement systems. One of the driving factors for the current sense amplifier market is the rising need to amplify small voltages to provide high bandwidth in the presence of large common-mode voltages. This requirement arises in various applications, including real-time protection systems, current measuring and monitoring for closed-loop feedback, and power monitoring facilities for system optimization. The market is also propelled by the high demand for current sense amplifiers offering great precision, low offset, and high flexibility.

The automotive industry significantly contributes to the exponential growth of the market due to the rising demand for electric vehicles (EVs) and IoT devices. Manufacturers focus on producing low-power and space-efficient current sensing amplifiers for applications such as battery management systems, chargers, cellphones, and other devices. This would present immense opportunities for the current sense amplifier market in the coming years.

Impact of COVID-19 Pandemic on Current Sense Amplifier Market

The Europe current sense amplifier market faced various challenges due to the COVID-19 pandemic. The region experienced disruptions in manufacturing and supply chains, impacting the production and availability of current sensing devices. Many industries, including automotive and consumer electronics, experienced a decline in demand of current sense amplifier as lockdown measures restricted economic activities and consumer spending. However, governments of various countries in Europe focused on projects related to renewable energy and smart infrastructure, which offered key players several opportunities for growth. Europe, after the ease of restrictions, has been at the forefront of technological advancements, particularly in the automotive, industrial, and renewable energy sectors. The recovery of these industries and a rise in investments in smart infrastructure projects are the key factors boosting the demand for current sensing and monitoring solutions.

APAC region is one of the largest producers of electronic devices. The current sense amplifiers are used in electronic devices to manage power flow. According to GSMA, the smartphone adoption rate in APAC (except China) reached 76% in 2022, which is expected to increase to 94% by 2030. Also, the smartphone adoption rate in China was 81% in 2022 and is estimated to reach 93% by 2030. Thus, the growing demand for smartphones, tablets, PCs, laptops, and other consumer electronics in Asian countries is boosting the growth of the market in the region.

In Asia Pacific, China is the largest manufacturer of consumer electronic devices. In January 2021, the Chinese government announced its plans to expand its domestic electronic market by investing US$ 327 billion till 2023. Due to this investment, manufacturers can provide components, materials, and other manufacturing equipment required at connected factories, high-speed rail, and aerospace industries, as well as for the production of smartphones, drones, electric vehicles, and robotics. Similarly, the Indian government is also working on expanding the electronics market in the country. According to Invest India, in 2022, the electronics market in India was valued at US$ 140 billion. Furthermore, domestic electronic production increased to US$ 87 billion in 2022, registering a CAGR of 15%; it is expected to reach US$ 300 billion by 2026. Also, in 2022, the export of electronic goods from India has reached US$ 15 billion, recording a CAGR of 22%, and it is expected to reach US$ 120 billion by 2026. Thus, the growing electronic production in the region is expected to raise the demand for current sense amplifiers, further fueling the current sense amplifier market growth in APAC.

Analog Devices Inc, Microchip Technology Inc, SG Micro Corp, Renesas Electronics Corp, ROHM Co Ltd, On Semiconductor Corp, Monolithic Power Systems Inc, Semtech Corp, STMicroelectronics NV, and Texas Instruments Inc are among the key current sense amplifier market players profiled in this market study. Several other essential current sense amplifier market players were analyzed for a holistic view of the market and its ecosystem.

The overall current sense amplifier market size has been derived using both primary and secondary sources. To begin the current sense amplifier market research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the current sense amplifier market. The process also serves the purpose of obtaining an overview and market forecast of the current sense amplifier market growth with respect to all market segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights about the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers?along with external consultants such as valuation experts, research analysts, and key opinion leaders?specializing in the current sense amplifier market.