Reed Sensor Market Set to Register 7% CAGR During 2018-2024 | Top Key Players Nippon Aleph, Littelfuse, Standex-Meder Electronics, HIS Sensing, RMCIP

The global reed sensor market share is anticipated to soar high in the coming years, driven by the burgeoning implementation of advanced sensor technology in an array of industries such as telecommunications, security & safety, healthcare, aerospace, armed forces, transportation, smart grid, and utilities. Reed sensors assist in metal detection, sensing and detecting movement, finding liquid level, proximity sensing, flow measurement, and other functions. Of late, artificial pacemakers which regulate the required heart rate encompass an extremely minor reed sensor or reed switch to change pacemaker modes. Based on the sensor, individuals can utilize either a fast or slow pace mode for use in normal circumstances or during brisk walking. Considering the plethora of applications of reed sensors, it is rather overt that the product demand will increase exponentially in the coming years.

Request a sample of this premium report at: https://www.marketstudyreport.com/request-a-sample/1294889/

Reed Sensor Market is projected to exceed USD 2 billion by 2024 owing to the upsurge in electric vehicles. Automotive giants such as Ford, BMW, Daimler are investing in electric vehicle charging infrastructure and have announced their plans to develop over 400 charging sites across Europe. These components enable safe and efficient charging of electric vehicles. Also, they continually check the correct position of the connector into the port and interrupt the power supply should the need arise to avoid potential electrical accidents, fueling the adoption of reed sensor market. There is an option to control additional functions with the sensors, such as an immobilizer, power indicator, locking, etc.

The reed sensor market is projected to witness lucrative growth for the forecast period owing to their growing demand of these components in the healthcare industry. The increasing incidence of heart diseases have propelled the demand for such medical devices ensuing the growth of the reed sensor market. These sensors are used in defibrillators and pacemakers for heart conditions such as bradycardia and tachycardia in which the heart beats at an abnormal rate. The devices enable these equipment to operate with high precision and the device mode is changed with a magnet externally. Compact sensors are being manufactured for such devices which are exclusively manufactured for use in life saving equipment are very compact and have a very high degree of reliability and precision. Other medical equipment in which it finds applications include capsule endoscopy, glucose monitors, neuromodulation, core body temperature capsule etc contributing to the reed sensor market.

Request a discount on standard prices of this premium report at: https://www.marketstudyreport.com/check-for-discount/1294889/

The reed sensor market has been segmented by product, contact position and application. Based on contact position, form A is estimated to hold the largest market share owing to their capability to be manufactured in smaller sizes than other contact forms. This is driving their demand across various verticals contributing towards the growth of the market. Asia Pacific is projected to dominate the reed sensor market due to their extensive demand from the electronics industry from regions such as Taiwan, South Korea and China. The flourishing automobile market in China is one of the major factors for the demand for these components for passenger comfort and other electronic systems.

Littelfuse, HSI Sensing, RMCIP, Standex Meder, and Coto Technology are the key companies in the reed sensor market landscape. To gain a competitive advantage over other companies in the market, players are following the strategy of acquisitions and strategic alliances. For instance, Littelfuse in August 2017 acquired XYS Corporation which will enable the company to expand its market presence across electronics and industrial sector. With the acquisition, Littelfuse will be able to enter their power control portfolio in automotive markets and in stronger relationships with electronic distributors. Moreover, companies are launching upgraded products with expanded capabilities such as the ultra-miniature sensor by Standex Meder and one similar product for liquid level and flow measurement for automobiles, metal detection etc.

Table of Content:

Chapter 1. Reed Sensor Market Methodology and Scope

Chapter 2. Reed Sensor Market Executive Summary

Chapter 3. Reed Sensor Industry Insights

Chapter 4. Reed Sensor Market, By Product (Revenue, Shipment)

Chapter 5. Reed Sensor Market, By Contact Position (Revenue, Shipment)

Chapter 6. Reed Sensor Market, By Application (Revenue)

Chapter 7. Reed Sensor Market, By Region (Revenue, Shipment)

Chapter 8. Reed Sensor Market Company Profiles

Outer scope of this report the flourishing smart home trend in developed countries, such as the United States, is expected to boost the market share in the impending future. Nowadays, smart home devices embedded with reed sensors can be remotely controlled to check if doors are locked, lights are switched on or off, and for ample other purposes. Also, reed switches act as fluid level sensors in coffee machines, dish washers, washing machines, and water heaters. Besides, reed sensors report the movement and position of the products in vending equipments.

Reed sensors, in the automotive sector, serve a wide range of applications including anti-theft alarm, seatbelt locking, power windows, coolant flow sensing, door-latch sensing, speed sensing, inclination sensing, seatbelt lock sensing, etc. In the coming years, the implementation of reed sensors would amplify on a global scale owing to their revolutionary benefits, thereby substantially bolstering market growth.

For more information on this report, Please visit at: https://www.marketstudyreport.com/reports/reed-sensor-market/?utm_source=OPR-SP

Related Report:

Global Position Sensors Market 2018 by Manufacturers, Regions, Type and Application, Forecast to 2023

Linear position sensor is one of the most commonly used sensors for position sensing. Linear position sensors are considered as an ideal solution for providing accurate, reliable, as well as high-resolution position measurement.

The worldwide market for Position Sensors is expected to grow at a CAGR of roughly xx% over the next five years, will reach xx million US$ in 2023, from xx million US$ in 2017, according to a new research report.

https://www.marketstudyreport.com/reports/global-position-sensors-market-2018-by-manufacturers-regions-type-and-application-forecast-to-2023?utm_source=RR-SP

About Us:
Marketstudyreport.com allows you to manage and control all corporate research purchases to consolidate billing and vendor management. You can eliminate duplicate purchases and customize your content and license management.

Contact Us:
Market Study Report
4 North Main Street,
Selbyville, Delaware 19975
USA
Phone: 1-302-273-0910
US Toll Free: 1-866-764-2150
Email:sales@marketstudyreport.com
Website:https://www.marketstudyreport.com
Blog: https://www.marketstudyreport.com/blog/

This release was published on openPR.