Global Reed Sensor Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
Global Reed Sensor Market: Overview
“The global Reed Sensor Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Reed sensor is type of an electric switch, which is paired with two permanent magnets and used for metal detection, proximity, liquid level and flow measurement, and sense and detect movement.
Global Reed Sensor Market: Dynamics
Reed sensors are used for power steering, engine control and as a fluid level sensor for monitoring motor oil levels and brake fluid reservoirs. They are also used as proximity sensors in air bags, doors, parking breaks, door locks, and seats.
Increasing adoption of reed sensors for various applications in automotive sectors is a major factor driving growth of the global reed sensor market. Increasing adoption of reed sensors in electronic appliances such as water heaters, dish washers, steamers, cookers, coffee makers, etc. is another factor fueling growth of the target market.
Furthermore, growing usage of reed sensors as they can operate efficient in the harsh environmental conditions is a factor expected to support growth of the global reed sensor market in the near future.
However, reed switch cannot be in miniaturized form similar to surface mount chips. In addition, magnets, which are required for working of reed switch are more than few millimeters away, it done not work satisfactorily. Theses are factors that could affect growth of the global reed sensor market. Nevertheless, increasing use of reed sensor in robotics and consumer electronics can create high revenue opportunities for players in the target market.
Global Reed Sensor Market: Segment Analysis
Among the type segments, the dry reed sensor segment is expected to account for major share in terms of revenue over the forecast period. Increasing adoption of dry reed sensors for automotive, consumer electronics, and safety and security applications is a factor propelling growth of this segment in the global market.
Among the application segments, the robotics and automation segment is expected to register high growth in terms of revenue in the near future. Reed sensors are used for controlling angle, conveyor speed, location, and robotic motion.
They are also used as proximity sensor and report position and movement of the products in vending machines. Reed sensors are used for fluid levels and flow management in harsh environments. These are some of the factors supporting growth of robotics and automation segment in the target market.
Global Reed Sensor Market: Regional Analysis
Currently, market in Asia Pacific is expected to accounts for significant share in terms of revenue over the forecast period. Growing automotive and consumer electronics sector in developing countries is a key factor driving growth of the target market in this region. In addition, presence of global and local player in countries in the region is another factor supporting growth of the target market.
increasing adoption of switch red sensors in various industries, especially in china in a fetor anticipated to propel growth of the target market in Asia Pacific region. Market in North America is expected to account for second-highest share in terms of revenue in the near future, followed by Europe. Presence of prominent payers and increasing adoption of advanced technologies are factors fueling growth of the reed market in these regions.
Global Reed Sensor Market Segmentation:
Segmentation by type:
- Mercury-Wetted Reed Sensor
- Dry Reed Sensor
Segmentation by contact position:
- Form A
- Form B
- Form C
Segmentation by application:
- Safety and Security
- Automotive and Transportation
- Robotics and Automation
- Consumer Electronics and Appliances
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Littelfuse, Inc.
- HSI Sensing, Inc.
- Ryazan Metal Ceramics Instrumentation Plant JSC
- Standex Electronics, Inc. (Standex-Meder Electronic)
- PIC GmbH
- Coto Technology
- Pickering Electronics Ltd.
- Aleph America Corporation
- STG Germany GmbH
- Zhejiang Xurui Electronic Co., Ltd.
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