Future Trend in Reed Sensor Market - Here Is What You Need To Know| Leading Players are Littelfuse, Standex-Meder Electronics, YASKAWA Europe

The global reed sensor market is lately witnessing an exponential growth rate, driven by the rapidly rising demand for advanced sensor technologies across industries such as military, aerospace, medical, security, transportation, smart grid & utilities and telecommunications. Attributing to a widespread application spectrum, the global reed sensor market was valued at over $1 billion according to a 2017 estimate.

Reed sensors are basically devices made up of reed switches that incorporate a pair of flexible magnetic reeds and can be used in various applications ranging from flow and liquid level measurement to motion detection and sensing, proximity sensing and metal detection. One of the major factors behind the sensor’s rapidly growing demand is its robust and reliable nature and the low power consumption that allows for the device to be used in a plethora of battery-operated applications.

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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 key players covered in this study: -

1. BERNSTEIN AG
2. Coto Technology
3. HSI Sensing
4. Littelfuse
5. MAGNASPHERE CORPORATION
6. Nippon Aleph Corporation
7. NTE Electronics, Inc
8. PIC GmbH
9. Reed Switch Developments Corp.
10. Ryazan Metal Ceramics Instrumentation Plant JSC
11. Soway Tech Limited
12. Standex-Meder Electronics
13. S.t.g. Germany GmbH
14. YASKAWA Europe
15. Zhejiang Xurui Electronic

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.

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.

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Home to nations such as China, India, Japan, South Korea and Taiwan – some of the world’s biggest consumers as well as manufacturers of automotive and consumer electronics, APAC presently holds the largest share in reed sensor market. According to a report by Standex Electronics, the device’s high demand is attributed to its availability in hundreds of different shapes and sizes and its ability to survive billions of operations without experiencing much wear and tear.

The aforementioned features have made reed sensors the go-to solution for the established automotive and consumer electronics markets in the APAC region. Moreover, government initiatives that support and encourage the growth of these industries are also likely to augment reed sensor demand further. Additionally, demands for remote home monitoring systems from the smart home markets of South Korea, Japan and China is projected to be another major contributing factor that will impel the APAC reed sensor industry growth.

Attributing to the extensive regional growth, the revenue graph of the reed sensor market is projected to etch out an exponential growth trajectory in the years ahead. According to a report by Global Market Insights, Inc., the global reed sensor market is anticipated to surpass $2 billion by 2024.

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