Market Research Future (MRFR), highlights the projected exponential rise of the global reed sensor market in 2020 over the forecast period, thus ensuring significant market value from USD 1.55 billion in 2017 to USD 2.37 billion by 2023, at a steady 7.43% CAGR over the review period.
The increasing use of reed sensors in home appliances, HVAC, and smart meters causes demand for reed sensors to increase. Furthermore, the ability to work in harsh environments and features such as low power consumption are some of the factors that fuel growth in this sector. Growing safety and security features and other features in public buildings and vehicles is increasing demand for the sector for reed sensors. Increasing reed sensor innovation for monitoring oil level in the automotive industry, increasing policy measures to protect endangered fish species, are expected to boost the Reed sensor market. Additionally, the restoration of fish farming to increase the population of endangered species by using a reed sensor to track migratory fishing habits is also driving the market growth.
Less adoption of reed sensors in the various industries, a tendency to break problems during deployment of reed sensors in the automotive industry and the need for higher initial investment in capital are some of the constraints that impede the growth of the reed sensor market. Nevertheless, the development of reed sensor technology by the numerous emerging and well-established manufacturers is anticipated in the near future to overcome these constraints.
Competitive Overview
The prominent market players operating in the global reed sensor market as identified by MRFR are Littelfuse Inc. (US), RMCIP (Russia), STG Germany GmbH (Germany), HSI Sensing (US), Standex Electronics, Inc. (US), Coto Technology (US), PIC GmbH (Germany), America Corporation (US), Pickering Electronics Ltd (UK), and Zhejiang Xurui Electronic (China) among others.
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Segmentation Analysis:
Reed sensor market is analyzed based on type, application, and mount type.
- Based on the type, the reed sensors market is divided into ultra-miniature, metal detection reed sensor, high-voltage reed sensor, dry-reed sensor, high-temperature reed sensor, and mercury-wetted reed sensor.
- Based on the mount type, the reed sensor market is bifurcated into panel mount, surface mount, screw mount, and thread mount.
- Based on application, the reed sensor market is segmented into automotive & transportation, consumer electronics & appliances, telecommunications, safety & security, healthcare, robotics & automation, construction, and others.
Regional Analysis
Asia-Pacific is also expected to find excellent opportunities for growth in this market, owing to increasing usage of reed sensors in automobiles and consumer appliances. The market in APAC is expected to witness substantial growth. Increasing reed sensor innovation for monitoring oil level in the automotive industry, increasing policy measures to protect endangered fish species, are expected to boost the reed sensor market.
North America, followed by Europe, is expected to show significant growth due to increased adoption of cars, strong focus on technical innovation, the participation of well-established and emerging players providing reed sensors. Furthermore, Latin America and the Middle East and Africa are expected to show considerable growth in the reed sensor market during the forecast period.
Major Highlights of TOC Covers:
- Executive Summary
- Key Business Trends
- Regional Trends and Growth
- Product Trends
- End-use Trends
- Definition and Forecast Parameters
- Reed Sensor Market Segmentation
- Reed Sensor Market Landscape
- Vendor Matrix
- Company Profiles
- Business Overview
- Financial Data
More…
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Market Research Future (MRFR) highlights that the Global Reed Sensor Market 2020 is slated to grow exponentially over the review period, securing a substantial market valuation from USD 1.55 billion in 2017 to USD 2.37 billion by 2023, and a healthy 7.43% CAGR over the review period.The report highlights all major trends and services playing a key role in the growth of the Reed Sensor market from 2017.
It also focuses on market drivers, growth factors, and opportunities in the market during that period.
Additionally, features such as the ability to operate in harsh environments and low power consumption are some of the factors driving this market.
The increase in safety and security functions and other functions in public buildings and vehicles is increasing the demand for the reed sensor market.
Innovations in reed sensors for oil level tracking in the automotive industry and an increase in government initiatives to protect endangered fish species are expected to boost the reed sensor market.The major market players operating in the global reed sensor market as identified by MRFR are STG Germany GmbH (Germany), Littelfuse Inc. (US), RMCIP (Russia), HSI Sensing (US), Standex Electronics, Inc. (US), PIC GmbH (Germany), Pickering Electronics Ltd (UK), Coto Technology (US),Aleph America Corporation (US), and Zhejiang Xurui Electronic (China) among others.Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/6707 SEGMENTATION:Segmented by type, the Reed sensor market segmented into ultra-miniature, high-voltage reed sensor, dry-reed sensor, metal detection reed sensor, high-temperature reed sensor and mercury-wetted reed sensor.Segmented by mount type, the reed sensor market is segmented into surface mount, screw mount, panel mount, and thread mount.Segmented by application, the reed sensor market is segmented into automotive & transportation, consumer electronics & appliances, robotics & automation, telecommunications, safety & security, healthcare, construction, and others.Growth Factors Elevating the Market:With the increasing use of reed sensors in consumer electronics, HVAC and smart meters, the demand for reed sensors is increasing.
Asia-Pacific is expected to find good growth opportunity in this market owing to increasing use of reed sensors in vehicles and consumer appliances.
The newly added Reed Switch market research report by Value Market Research disclose all the important information associated with the market such as value, growth factor, trends, market share, size, and challenges for the forecasted timeline 2020-2027.
Further, this report also highlights smart strategy adopted by major players and also their market share.
Basically, this report is designed to give a proper understanding of industry structure and competition intensity attractiveness.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the reed switch market include OKI, Standex-Meder, RMCIP, Nippon Aleph, Hamlin, PIC, PIT-RADWAR, Coto, STG Germany GmbH, XURUI, Feitengda S. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Reed Switch Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/reed-switch-market/download-sampleMarket DynamicsConstant growth in the automotive and transportation sector is the main factor driving the market report.
Reed switches play a vital role in several critical processes, including readouts on the dashboards, brakes, coolant measurement, windshields, emission, etc.
Also, rising household appliances and consumer electronic market is another factor that propels the demand.
