411028 Magarpatta, in
Reed Sensors Market 2023: Market Trends, Emerging Opportunities and Key Vendors
Global Reed Sensor Market is expected to grow from USD 1.55 billion in 2017 to USD 2.37 billion by 2023(PresseBox) ( Magarpatta, )
Increasing use of reed sensors in automotive industry is one of the major factors fueling the growth of reed sensor market. Apart from the automotive industry, reed sensors have various applications in consumer electronics, robotics & automation, telecommunications, safety & security among others. However, susceptibility to breakage during installation is one of the factors hindering the adoption of reed sensors in the market. Use of reed sensors in electric vehicle is also expected to fuel this market in the coming years. These manufacturers, however, face challenges in improving the efficiency and reliability of reed sensors. Therefore, most of them are investing in research and development of cost-effective and reliable reed sensors owing to the increasing demand. Key players such as Littelfuse Inc., HSI Sensing, RMCIP, Standex-Meder Electronics Inc., PIC GmbH, Coto Technology, Pickering Electronics Ltd, Aleph America Corporation among others are continuously focusing on expanding their product portfolios and are adopting inorganic strategies such as mergers and partnerships to expand their geographic presence and broaden their customer base.
A reed sensor senses and detects the movement, proximity, and liquid level and flow measurement in the presence of an applied magnetic field. These sensors have a low contact resistance, typically as low as 50 milliohms and are capable of withstanding much higher voltages. Reed sensors are unaffected by the thermal environment and can be operated in the range from -50° C to +150° C with no special additions, modifications or costs.
World Micro, Inc., Atlanta-based electronics distributor, signed a franchise distribution agreement with PIC GmbH, suppliers of reed sensor technology. This agreement enables World Micro to promote, distribute, and market PIC GmbH's product line of reed switches and sensors.
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The prominent players in the reed sensor market are Littelfuse Inc. (US), HSI Sensing (US), RMCIP (Russia), Standex Electronics, Inc. (US), PIC GmbH (Germany), Coto Technology (US), Pickering Electronics Ltd (UK), Aleph America Corporation (US), STG Germany GmbH (Germany), and Zhejiang Xurui Electronic (China) among others.
Reed sensor market is segmented on the basis of type, mount type, application, and region.
Based on the type, the market is segmented into high-temperature reed sensor, high-voltage reed sensor, metal detection reed sensor, ultra-miniature, dry-reed sensor, and mercury-wetted reed sensor.
On the basis of mount type, the market is segmented into panel mount, screw mount, surface mount, and thread mount.
Based on application, the market is segmented into automotive & transportation, consumer electronics & appliances, robotics & automation, telecommunications, healthcare, safety & security, construction, and others.
By region, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world.
The global market for reed sensor is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of the reed sensor market is done for North America, Europe, Asia-Pacific, and the rest of the world.
North America is expanding at high growth rate owing to continuous focus on technology innovation to improve the accuracy of reed sensors. Asia-Pacific is expected to be the fastest growing region during the forecast period owing to rising demand for electronic appliances and vehicles. Asia-Pacific, except Japan, is heavily spending on robotics systems including drones; industrial, service, and consumer robots and after-market hardware which is expected to contribute to the market growth in the forecast period.
The reed sensor market has witnessed the trend of new product development across the world. Many key players have adopted new product development as their chief organic strategy to gain significant market share. Product development accounted for a significant percentage of the total business growth strategy in the years 2016 and 2017. of the total company developments were partnership and collaboration whereas, merger & acquisition accounted for the total strategic developments.
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TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain Of Global Reed Sensor Market
5 Industry Overview Of Global Reed Sensor Market
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
LIST OF TABLES
Table 1 Global Reed Sensor Market, By Region, 2018–2023
Table 2 North America: Reed Sensor Market, By Country, 2018–2023
Table 3 Europe: Reed Sensor Market, By Country, 2018–2023
Table 4 Asia-Pacific: Reed Sensor Market, By Country, 2018–2023
Table 5 Middle East & Africa: Reed Sensor Market, By Country, 2018–2023
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LIST OF FIGURES
FIGURE 1 Global Reed Sensor Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Reed Sensor Market
FIGURE 4 Value Chain Of Global Reed Sensor Market
FIGURE 5 Share Of Global Reed Sensor Market In 2017, By Country (In %)
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