Systems and methods provide a non-contact current measurement system which operates to measure alternating current flowing through an insulated wire without requiring galvanic contact with the insulated wire. The measurement system may include a magnetic field sensor that is selectively positionable proximate an insulated wire under test. In operation the magnetic field sensor detects a magnetic field generated by the current flowing in the insulated wire. Using an adjustable clamp assembly, the measurement system provides control over the mechanical positioning of the insulated wire relative to the magnetic field sensor to ensure consistent measurements. The non-contact current measurement system may determine information relating to the physical dimensions (e.g., diameter) of the insulated wire. Using the detected magnetic field, the known mechanical positioning, and the determined information relating to the physical dimensions of the insulated wire, the measurement system accurately determines the magnitude of the current flowing through the insulated wire without galvanic contact.