Current Sensor Market Size

Current Sensor Market size was valued at USD 3.79 billion in 2024 and is likely to exceed USD 17.31 billion by the end of 2037, expanding at over 12.3% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of current sensor is evaluated at USD 4.17 billion. The growth of the market can be attributed to the growing demand for consumer electronics which includes smartphones, tablets, TVs, and more. In 2022, it was predicted that consumers would spend about USD 500 billion on electronics across the globe. All these electronic products are deployed with sensors. Hence, owing to the growing adoption of these products, the adoption of the current sensor is also estimated to boost.

Moreover, the global market for current sensor is expected to expand significantly as a result of considerable technological developments in the semiconductor and communications industries. Current sensors, which generate a signal that is proportional to the current that is flowing through the wire, are able to detect electric current in a wire. Modern sensor development has led to a decrease in sensor size, which simultaneously increases cost-effectiveness, efficiency, and compatibility. Additionally, their adoption is also growing in industries such as aerospace, agriculture, and medical. Further, sensors are used in automobiles to control the motor drive, the direct current conversion control of the motor's regeneration current, and the detection of the charged and discharged currents of the batteries in electric and hybrid vehicles, all of which are crucial components of control.