Press release
Reed Sensor Market Expected to Achieve 8.7% CAGR by 2029: Growth Forecast Insights
Reed Sensor Market
How Large Will the Reed Sensor Market Size By 2025?
The market size of reed sensors has seen a notable expansion in recent years. It is projected to rise from $1.74 billion in 2024 to $1.9 billion in 2025, with a compound annual growth rate (CAGR) of 8.7%. Factors like miniaturization of electronics, assimilation by the automotive industry, growth of telecommunications, expansion of industrial automation, and enhancement in security system have been driving the growth in the past years.
How Big Is the Reed Sensor Market Size Expected to Grow by 2029?
The market size of the reed sensor is forecasted to experience robust growth in the forthcoming years, with a valuation expected to reach $2.65 billion in 2029, exhibiting a compound annual growth rate (CAGR) of 8.7%. The projected growth during the forecast period could be attributed to factors such as the proliferation of IoT and interconnected devices, advancements in the automotive sector, an upsurge in home automation, increased demand for safety and security, and developments in material science. Noteworthy trends during the forecast period encompass improvements in magnet technology, heightened sensing capabilities, the incorporation of AI and machine learning, solutions for energy harvesting, and superior reliability and durability.
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Which Key Market Drivers Powering Reed Sensor Market Expansion and Growth?
The anticipated surge in the need for electric vehicles is set to drive the expansion of the reed sensor market. Electric vehicles, which are crafted to be more eco-friendly and fuel-efficient than their traditional counterparts powered by internal combustion engines, typically rely on reed sensors for position and proximity detection. This assists in boosting functionality, safety, and effectiveness while maintaining dependable sensing capabilities and regulating the vehicle's operations. As per data from the International Energy Agency, a governing body based in France, electric cars in 2022 made up 14% of new vehicle sales, a notable rise from around 9% in 2021. Hence, the growing demand for electric vehicles is fueling the expansion of the Reed sensor market.
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Which Fast-Growing Trends Are Poised to Disrupt the Reed Sensor Market?
Leading players in the reed sensor market are creating unique, specialized products like low-profile layouts to maintain their market standing. A low-profile layout is a compact design that reduces the height and volume of a part, optimizing space utilization in electronic gadgets and facilitating closer component arrangements on a printed circuit board. For example, StandexMeder Electronics GmbH, an industrial technology company from the US, launched the MK33 SMD Reed Switch Series in May 2024. This product line was developed to deliver superior performance in a small size with bare-glass construction. This cost-effective switch provides excellent reliability, with a 10 VA power rating and a maximum height of just 2.3 mm, earning it the title of the flattest switch in their SMD range. The switch is available in 10 and 14 mm lengths and can handle voltage levels of up to 200 VDC/VAC, with 0.5 A switching currents and 1 A carry current. The decrease in height allows for more room in limited designs and optimizes PCB layouts, facilitating closer switch arrays for compact sensor solutions like liquid-level sensors.
What Are the Emerging Segments in the Reed Sensor Market?
The reed sensor market covered in this report is segmented -
1) By Type: Ultra-Miniature, Dry-Reed Sensor, Mercury-Wetted
2) By Mounting Type: Panel Mount Reed Sensor, Surface Mount Reed Sensor, Thread Mount Reed Sensor, Screw Mount Reed Sensor, Other Mounting Types
3) By Contact Position: Form A, Form B, Form C, Others Contact Positions
4) By Industry Vertical: Automotive, Electronic, Information Technology And Telecommunication, Healthcare, Robotics And Automation, Aerospace, Construction, Safety And Security, Other Industry Verticals
Subsegments:
1) By Ultra-Miniature: Micro Reed Sensors, Compact Reed Switches For Low-Profile Applications
2) By Dry-Reed Sensor: Normally Open (NO) Dry Reed Switches, Normally Closed (NC) Dry Reed Switches
3) By Mercury-Wetted: Mercury-Wetted Reed Switches For High-Precision Applications, Mercury-Wetted Reed Sensors For Harsh Environments
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Who Are the Global Leaders in the Reed Sensor Market?
Major companies operating in the reed sensor market include ZF Friedrichshafen AG, Schneider Electric SE, TE Connectivity, Madison Company Inc., Yaskawa Electric Corporation, Littelfuse Inc., KEMET Corporation, AirTAC International Group, GEMÜ Group, Standex Electronics Inc., HNC Electric Ltd., PIC GmbH, HSI Sensing, Coto Technology Inc., Bernstein AG, Pickering Electronics Ltd., Aleph America Corporation, MagneLink Inc., Misensor Tech (Shanghai) Co. Ltd., Sensor Measurement PTY Ltd., Zhejiang Xurui Electronics Co Ltd., Hamilton Electronics Pvt. Ltd., Sigma Enterprises, Ryazan Metal Ceramics Instrumentation Plant JSC, STG Germany GmbH.
Which are the Top Profitable Regional Markets for the Reed Sensor Industry?
Asia-Pacific was the largest region in the reed sensor market in 2024. The regions covered in the reed sensor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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