Pune, India, July 28, 2023 (GLOBE NEWSWIRE) -- According to our latest market study on "Current Sense Amplifier Market Size Reports, Forecast to 2030 – COVID-19 Impact and Global Analysis – by Sensing Type, Current Direction, End User, and Geography," the market is expected to grow from US$ 3.66 billion in 2023 to US$ 5.97 billion by 2030; it is estimated to record a CAGR of 7.2% from 2023 to 2030. The increasing demand for renewable energy sources is driving the growth of the global market.
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The rising demand for strong connectivity across the world fuels the need for advanced telecommunication infrastructure. As telecom infrastructure serves as the foundation for modern digital economies, there is a growing need for its development. A strong telecom infrastructure can help governments of different countries at national and international levels to achieve economic growth, digital inclusion, social mobility, and environmental objectives. Thus, the demand for 5G is increasing worldwide for strong connectivity. According to GSMA, in 2022, there was 17% of 5G penetration across the world, which is expected to reach 54% by 2030. North America has the highest 5G penetration, with 39% in 2022; it is expected to reach 91% by 2030. Similarly, in 2022, Asia Pacific (except China) and Europe recorded 4% and 11% of 5G penetration, which is expected to reach 41% and 87% by 2030, respectively.
As 5G is the critical new-generation network technology that can enable innovation and support digital transformation, its demand is increasing across the world. Therefore, the governments of various countries are investing in 5G infrastructure. In July 2021, the government of France announced its plan to invest about US$ 2.06 billion (EUR 1.7 billion) in its 5G market by 2025 via public and private investments. Through this, the government aims to accelerate the development of 5G in the country. Similarly, in January 2021, the government of South Korea announced that they would increase the coverage of the next-generation mobile networks, particularly 5G, to 85 cities this year from the current seven major cities. It invested around US$ 115.89 million (127.9 billion won) in 2021 to encourage the use of private 5G networks. Thus, such growing investments in 5G infrastructure raise the demand for current sensing amplifiers as it is used in telecom infrastructure equipment such as networking devices, modems, routers, and others, where there is a need for current monitoring and current control loops. Thus, the growing telecom infrastructure is fueling the current sense amplifier market growth.
Global Current Sense Amplifier Market: Current Direction Segment Overview
Based on current direction, the current sense amplifier market is bifurcated into unidirectional and bidirectional. The bidirectional segment held a larger share in the current sense amplifier market in 2023, as it is widely used in industries and applications such as power electronics, electric vehicles, renewable energy systems, and smart grids. The bidirectional amplifier provides numerous benefits such as accurate current flow measurement in both directions, enhanced system control and protection, and compatibility with AC and bidirectional power systems, which fuels the current sense amplifier market growth.
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Global Current Sense Amplifier Market: Competitive Landscape and Key Developments
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 the report. Several other essential current sense amplifier market players were analyzed for a holistic view of the market and its ecosystem. The report provides detailed current sense amplifier market insights, which can help major players strategize their growth.
In 2022, Avnet partnered with SGMICRO as its global distributor by expanding the distribution of SGMICRO's analog integrated circuit solutions for the current sense amplifier market across the Europe, Middle East, and Africa (EMEA) and Americas. This strategic collaboration strengthens SGMICRO's market reach and offers enhanced customer support across the world.
In 2023, Onsemi formed an agreement with Vitesco Technologies for the supply of SiC for 10 years long-term supply. Further, Vitesco Technologies are gaining access to SiC technologies by providing an investment of US$ 250 million to Onsemi in production capacity. The investment in production capacity will boost the manufacturing of current sense amplifiers.
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