Data Bridge Market Research analyses that the Reed Sensor Market was valued at USD 1.0 billion in 2021 and is expected to reach USD 2.08 billion by 2029, registering a CAGR of 8.50% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle 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.
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Reed Sensor Market Dynamics
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 2022. 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.
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.
Some of the major players operating in the reed sensor 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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Global Reed Sensor Market Scope
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/Insights
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).
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.
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