Current Sense Amplifier Market Size, Share, Growth by 2030

The current sense amplifier market is projected to expand from US$ 3,668.48 million in 2023 to US$ 5,975.52 million by 2030, reflecting a compound annual growth rate (CAGR) of 7.2% during this period.

Current sense amplifiers are specialized integrated circuit differential amplifiers designed to output an analog voltage that corresponds to the current flowing through a load connected to their input. These devices measure the voltage across a current shunt resistor and produce a voltage that is proportional to the measured current. The global market for current sense amplifiers is experiencing robust growth across various sectors, including aerospace, automotive, and manufacturing, leading to an increased demand for both high-voltage and precision current sensing amplifiers. Manufacturers are enhancing their production capabilities to meet the rising requirements for both bidirectional and unidirectional measurement systems. A key factor driving the current sense amplifier market is the growing necessity to amplify small voltages while maintaining high bandwidth in environments with significant common-mode voltages. This need is prevalent in applications such as real-time protection systems, current measurement and monitoring for closed-loop feedback, and power monitoring systems aimed at optimizing performance. Additionally, the market is fueled by the increasing demand for current sense amplifiers that offer high precision, minimal offset, and significant flexibility.

The automotive sector plays a crucial role in the rapid expansion of this market, primarily due to the surging demand for electric vehicles (EVs) and Internet of Things (IoT) devices. Manufacturers are concentrating on developing low-power and compact current sensing amplifiers for applications in battery management systems, chargers, smartphones, and various other devices. This trend is expected to create substantial opportunities for the current sense amplifier market in the years ahead.

Impact of the COVID-19 Pandemic on the Current Sense Amplifier Market

The current sense amplifier market in Europe encountered numerous challenges due to the COVID-19 pandemic. The region faced significant disruptions in manufacturing and supply chains, which adversely affected the production and availability of current sensing devices. Many sectors, including automotive and consumer electronics, saw a decline in demand for current sense amplifiers as lockdown measures curtailed economic activities and consumer spending. Nevertheless, various European governments prioritized projects related to renewable energy and smart infrastructure, which provided key players with opportunities for growth. Following the easing of restrictions, Europe has been at the forefront of technological advancements, particularly in the automotive, industrial, and renewable energy sectors. The recovery of these industries, along with increased investments in smart infrastructure projects, has been pivotal in driving the demand for current sensing and monitoring solutions.

The Asia-Pacific (APAC) region stands as one of the largest producers of electronic devices, where current sense amplifiers are essential for managing power flow. According to GSMA, the smartphone adoption rate in APAC (excluding China) reached 76% in 2022 and is projected to rise to 94% by 2030. In China, the smartphone adoption rate was 81% in 2022, with an expected increase to 93% by 2030. Consequently, the escalating demand for smartphones, tablets, PCs, laptops, and other consumer electronics in Asian countries is significantly contributing to the market's growth in the region.

Within Asia Pacific, China is the leading manufacturer of consumer electronic devices. In January 2021, the Chinese government announced plans to invest US$ 327 billion to expand its domestic electronic market by 2023. This investment will enable manufacturers to supply components, materials, and other manufacturing equipment necessary for 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 focused on enhancing the electronics market within the country. According to Invest India, the electronics market in India was valued at US$ 140 billion in 2022, with domestic electronic production reaching US$ 87 billion, marking a CAGR of 15%. This production is expected to grow to US$ 300 billion by 2026. Additionally, in 2022, India's export of electronic goods reached US$ 15 billion, with a CAGR of 22%, projected to hit US$ 120 billion by 2026. Thus, the increasing electronic production in the region is anticipated to elevate the demand for current sense amplifiers, further propelling market growth in APAC.

Key players in the current sense amplifier market include 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. Several other significant players in the current sense amplifier market were also analyzed to provide a comprehensive view of the market and its ecosystem.

The overall size of the current sense amplifier market has been determined using both primary and secondary research methods. The research process began with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the current sense amplifier market. This approach also aimed to provide an overview and forecast of market growth across all segments. Additionally, numerous primary interviews were conducted with industry participants and experts to validate the data and gain deeper analytical insights. Participants included industry professionals such as VPs, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the current sense amplifier market.