Global Reed Sensor Market Segmentation, By Sensing Type (High Voltage Reed Sensor, High Temperature Reed Sensor, Metal Detection Reed Sensor), Mount Type (Surface Mount Reed Sensor, Thread Mount Reed Sensor, Panel Mount Reed Sensor), Contact Position (Form A, Form B, Form C), Industry Vertical (Automotive, Electronic, IT and Telecommunication, Healthcare, Robotics and Automation, Aerospace, Construction, Safety and Security, Others) – Industry Trends and Forecast to 2031
Reed Sensor Market Analysis
Reed sensors have seen widespread use in the automobile sector, particularly in automotive interiors, due to their dependable and straightforward detecting and actuation capabilities, low cost, and zero power requirement for operation. As a result, the growth of the automobile industry is projected to drive the usage of reed sensors in the future. However, increasing demand for reed sensors from robotics and automation applications is projected to grow over time.
Global Reed Sensor Market Size
Global reed sensor market size was valued at USD 1.18 billion in 2023 and is projected to reach USD 2.26 billion by 2031, with a CAGR of 8.5% during the forecast period of 2024 to 2031.
Report Scope and Market Segmentation
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Attributes
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Reed Sensor Key Market Insights
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Segmentation
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Countries Covered
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U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA)
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Key Market Players
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Standex International Corporation (US), KEMET Corporation (US), ZF Friedrichshafen AG (Germany), Littelfuse, Inc. (US), Airtac International Group (Taiwan), Aleph America Corporation (US), BERNSTEIN AG (Germany), COTO TECHNOLOGY (Rhode Island), HNC Group (Denmark), HSI SENSING (US), GEMÜ Group (Germany), ifm electronic gmbh (Germany), Madison Company, Inc. (US), NTE Electronics, Inc. (US), PIC GmbH (Germany), Reed Switch Developments Corp. (US), Soway Tech Limited (China), Switch Technology Günther (India), Vernexx (US)
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Market Opportunities
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Reed Sensor Market Definition
Reed sensors are commonly employed in reed switches to provide switching mechanisms. These sensors have a 3.3V-5V operating voltage. It has adopted a wide-voltage LM393 comparator with LED indicator power. The reed sensors program becomes operational once a crystal rectifier is connected to digital pin twelve externally. It acts as a pointer anytime the reed sensors detects a field of force. Transfer the program supplied below to the Uno board once it has the connections. When the magnet is placed close to and far from the reed sensors, the crystal rectifier can mechanically turn off and on numerous times.
Reed Sensor Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Rise in industrial automation and growth of Industrial 4.0
The adoption of reed sensors will be aided by the rise in industrial automation and the rise of Industrial 4.0. According to IFR, roughly 630,000 robot units will be shipped globally through 2024. New technology and international standards create a safe working environment, increase productivity, and reduce the environmental effect. A reed sensor is used to detect the end position of every hydraulic or pneumatic cylinder or actuator.
Furthermore, rising urbanization and increasing level of disposable income will drive market value growth. Also, increasing number of reed sensor applications in HVAC, home appliances and smart meters will cushion the growth rate of reed sensor market. Another significant factor influencing the market's growth rate is the benefits of low operating power and capable of working in harsh environment.
Opportunities
- Increasing use of reed sensors in emerging technologies
The surging utilization of reed sensors in emerging technologies will boost new market opportunities for the market's growth rate. The trend toward high miniaturization and extremely dependable reed switches is functioning as a driver for the reed sensor in numerous end-user sectors, result of technological developments in sensor and switch technology.
Moreover, favorable government initiatives supporting the manufacturing of consumer electronics in developing countries and emerging new markets will act as market drivers and further boost beneficial opportunities for the market's growth rate.
Restraints/ Challenges Global Reed Sensor Market
On the other hand, the large size of reed sensors limiting use in miniature devices will hinder the reed sensor market growth rate. The negative impact of COVID-19 outbreak on supply chain of semiconductors and intense competition from alternative switching technologies will act as market restraint and further challenge the market growth rate.
This reed sensor market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the reed sensor market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Reed Sensor Market Scope
The reed sensor market is segmented on the basis of sensing type, mount type, contact position and industry vertical. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Sensing Type
- High Voltage Reed Sensor
- High Temperature Reed Sensor
- Metal Detection Reed Sensor
Mount Type
- Surface Mount Reed Sensor
- Thread Mount Reed Sensor
- Panel Mount Reed Sensor
Contact Position
- Form A
- Form B
- Form C
Industry Vertical
- Automotive
- Electronic
- IT and Telecommunication
- Healthcare
- Robotics and Automation
- Aerospace
- Construction
- Safety and Security
- Others
Reed Sensor Market Regional Analysis
The reed sensor market is analyzed and market size insights and trends are provided by country, sensing type, mount type, contact position and industry vertical as referenced above.
The countries covered in the reed sensor market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the reed sensor market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the increasing focus of manufacturers on product innovations and rising level of investment for research and development activities in this region. Additionally, the development of advanced technologies will propel the market's growth rate in this region.
Asia-Pacific on the other hand is projected to exhibit the highest growth rate during the forecast period of 2024 to 2031 due to the rising adoption of automation and presence of high semiconductors and electronic manufacturing industries in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Reed Sensor Market Share
The reed sensor market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to reed sensor market.
Reed Sensor Market Leaders Operating in the Market Are:
- Standex International Corporation (US)
- KEMET Corporation (US)
- ZF Friedrichshafen AG (Germany)
- Littelfuse, Inc. (US)
- Airtac International Group (Taiwan)
- Aleph America Corporation (US)
- BERNSTEIN AG (Germany)
- COTO TECHNOLOGY (Rhode Island)
- HNC Group (Denmark)
- HSI SENSING (US)
- GEMÜ Group (Germany)
- ifm electronic gmbh (Germany)
- Madison Company, Inc. (US)
- NTE Electronics, Inc. (US)
- PIC GmbH (Germany)
- Reed Switch Developments Corp. (US)
- Soway Tech Limited (China)
- Switch Technology Günther (India)
- Vernexx (US)
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