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At 7.8% CAGR Reed Sensor Market Set For 1,473.33 Million Dollars Explosive Growth to 2027 Led by Key Players Zhejiang Xurui Electronic, STG-Germany, Standex Electronics, SMC, RMCIP, Pickering Electronics, PIC, Littelfuse, Coto Technology, Bimba Manufactur

04-16-2019 02:40 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: The Insight Partners

/ PR Agency: The Insight Partners
Reed Sensor Market Worth USD 1,473.33 Million by 2027

Reed Sensor Market Worth USD 1,473.33 Million by 2027

The Reed Sensor Market Research Report Examined global company share by region and sector; Global and regional market positions; Category and country opportunities for growth; New product developments; Strengths and weaknesses; Brand portfolio; Marketing and distribution strategies; Challenges and threats from current competition and future prospects.

The global reed sensor market accounted to US$ 765.07 Mn in 2018 and is expected to grow at a CAGR of 7.8% during the forecast period 2019 – 2027, to account to US$ 1,473.33 Mn by 2027.

Europe was the leading geographic reed sensor market and it is anticipated to be the highest revenue contributor throughout the forecast period. The consumer electronics market in Europe has witnessed aggressive and stable demands in different countries of the region. The NORDIC countries of Europe consist of a large number of Small and Medium scale industries (SMEs) that have steady demands for reed sensor based products. On the other hand, economically strong countries like Germany, Italy, UK and Spain have witnessed rapid growth in the implementations of reed sensors in the different industry verticals primarily led by consumer electronics and automotive sectors.

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Reed Sensor Market Insights: The increasing penetration of IoT, connected devices and consumer electronics to have a noteworthy impact on the reed sensor market

The exponential growth in data traffic over the internet is out rightly attributed to the growing penetration of smartphones and other consumer electronic devices that can be connected over the internet with the advent of IoT. The advent of IoT has enabled each device to be connected over the internet and the rising adoptions globally would result in more than billions of devices connected over the internet. Also, huge populations of India and China are further proliferating the growing penetration of smart phones and other consumer electronic devices. Additionally, the Government initiatives towards digitalization of economies in these countries is leading to exponential growth of data traffic over the internet in these countries and also on a global scale for other developing economies. Brazil, Uruguay, Argentina, Chile, Colombia, UAE, Saudi Arabia, South Africa, Vietnam and Singapore are other major countries embracing the path of digitalization and resulting in huge influx of data over the internet.

Rising trends in integration of consumer electronics in automotive industry:

The emergence of advanced-driver-assistance systems like adaptive braking, self-parking, backup cameras, and automatic cruise control that further increase the passenger safety in the vehicles. Shared mobility services is another trend buzzing in the automobile ecosystem. A strong internet infrastructure coupled with cars that would be able to communicate with the rider and amongst each other regarding their availabilities and route mapping would form a trend in the upcoming few years. Highly advanced sensors are anticipated to be integrated into these vehicles for efficient communications to happen and therefore, these automotive electronic trends are anticipated to present good opportunities for the reed sensor market players to cache in.

Reed Sensor Market - Type Insights:

Proximity sensors are capable of detecting an object in their detection range by utilizing a non-contact detection principle. The proximity sensors have a long functional life, high switching rate and provide high reliability as compared to other sensors. The reed proximity sensors have a wide range of applications in appliance doors, passenger vehicles, and access panels. Reed proximity sensor is gaining popularity in the robotics and automation sector, where reed switches are used as proximity sensors for performing various tasks such as controlling conveyor speed, robotic motion, location, and angle. Reed proximity sensor is utilized in mobile devices to provide a sleek design and replace the mechanical buttons. The reed proximity sensors are gaining popularity for various applications like the consumer, industrial, embedded, communications, and medical among others. The increasing demand for industrial automation and the growing popularity of non-contact sensing technology are the primary factors that are supporting the growth of proximity sensors market whereas limitation in sensing capabilities of the proximity sensors might slow down the growth proximity sensors market.

Reed Sensor Market - Contact Position Insights:

The reed sensor of a reed switch are available in various configurations in the market. A reed switch typically consists of two or three metal reed contacts that are sealed hermetically inside a glass tube. The glass tube contains an inert gas that prevents the metal contacts to get in touch with each other unless given an input in the form of electro-magnetic field. The reed sensor come in varying sizes, magnetic sensitivities, and exhibit high power capabilities, high voltage capabilities as well as different contact and lead configurations. Accordingly, the study on reed sensor has been therefore segmented by contact position into Form A, Form B, Form C, Form D, and others. The growing demands for various consumer electronics devices coupled with additional demands for various smart security related products by individuals and businesses alike is anticipated to propel the growth in the adoptions for form A configuration of reed sensor.

Reed Sensor Market - Strategic Insights:

Strategic partnership with automotive industry as a part of the enhancement of the sensor offering was observed as the most adopted strategy in global reed sensor market.

2019: HSI Sensing, an Oklahoma-based manufacturer of custom reed switch and sensor technology, launched its complete Sentinel product line in an event held in the US. The Sentinel product line is a high-security product line that is tamper free in nature.

2018: Pickering Electronics to announce the launch of new Series 124 4mm range of ultra-high-density reed relays. These new relays are the lowest profile reed relay on the 4 x 4mm footprint, measuring 9.5mm high. Devices are currently available in 1 Form A with options of 3 or 5 volt coils.

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Global Reed Sensor Market - By Type
• Proximity Sensor
• Level Sensor
• Speed Sensor
• Flow Sensor
• Others

Global Reed Sensor Market - By Contact Position
• Form A
• Form B
• Form C
• Form D
• Others

Global Reed Sensor Market - By Application
• Automotive & Transportation
• Security & Safety
• Medical
• Consumer Electronics
• Telecommunications
• Others

Global reed sensor market - By Geography
• North America
o U.S.
o Canada
o Mexico

• Europe
o France
o Germany
o UK
o Italy
o Spain
o Rest of Europe

• Asia Pacific (APAC)
o Australia
o South Korea
o China
o India
o Japan
o Rest of APAC

• Middle East & Africa (MEA)
o Saudi Arabia
o South Africa
o Rest of MEA

• South America (SAM)
o Brazil
o Argentina
o Rest of SAM

Global Reed Sensor Market – Company Profiles
• Bimba Manufacturing Company
• Coto Technology
• Littelfuse Inc.
• PIC GmbH
• Pickering Electronics Ltd
• SMC Corporation
• Standex Electronics Inc.
• STG-Germany Group
• Zhejiang Xurui Electronic Co. Ltd

Key Benefits of Buying this Research Study:
1. Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Reed Sensor Market
2. Highlights key business priorities in order to assist companies to realign their business strategies
3. The key findings and recommendations highlight crucial progressive industry trends in the Reed Sensor Market, thereby allowing players across the value chain to develop effective long term strategies
4. Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
5. Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
6. Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
7. Examine the political, economic, social and technology impact of the five regions namely: North America, Europe, Asia Pacific, Middle East & Africa and South America.

About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.

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