The overall reed sensor market is expected to grow from USD 1.49 billion
in 2017 to USD 2.30 billion by 2023, at a CAGR of 7.40% from 2018 to
2023. Reed sensors offer several advantages, such as simple and reliable
sensing and actuation capabilities; low cost and zero power requirement
for operation; and safe to use in harsh industrial environments, which,
in turn, help in the growth of the market.
The reed sensor market is gaining traction with the emergence of new applications and technologies. These sensors are being used in many applications such as telecommunications, automotive and transportation, consumer electronics and appliances, safety and security, healthcare, construction, robotics and automation, and other applications. The base year considered for the study is 2017, and the forecast has been provided from 2018 to 2023.
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Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
The reed sensor market is gaining traction with the emergence of new applications and technologies. These sensors are being used in many applications such as telecommunications, automotive and transportation, consumer electronics and appliances, safety and security, healthcare, construction, robotics and automation, and other applications. The base year considered for the study is 2017, and the forecast has been provided from 2018 to 2023.
Dry reed sensors are expected to hold the largest
share of the reed sensor market based on type, in terms of value, by
2023. The largest share of the sensors based on this technology is
attributed to its features such as long life, contacts isolated from the
environment, low operating power, low cost compared with other magnetic
devices, and superior glass-to-metal seal. The dry-reed sensor is used
for a wide range of applications such as automotive and transportation,
security and safety, and consumer electronics and appliances.
APAC to dominate reed sensor market during forecast period
The reed sensor market in APAC is expected to grow at
the highest CAGR during the forecast period. The rise in disposable
income in APAC countries has led to the increase in the demand for
vehicles and consumer appliances, which, in turn, increased the growth
of the reed sensor market in this region. The increasing penetration of
reed sensors and the influx of global players, along with the emergence
of native players, are contributing to the growth of the market. As a
result, APAC holds a significant share of the overall reed sensor
market.
The key players in the market include Littelfuse
(US), HSI Sensing (US), RMCIP (Russia), Standex-Meder Electronics (US),
PIC GmbH (Germany), Coto Technology (US), Pickering Electronics (UK),
Aleph America (US), STG Germany GmbH (Germany), and Zhejiang Xurui
Electronic (China). These players are increasingly undertaking mergers
and acquisitions, and product launches to develop and introduce new
technologies and products in the market.
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Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
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