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:
1. Executive Summary
2. Key Business Trends
3. Regional Trends and Growth
4. Product Trends
5. End-use Trends
6. Definition and Forecast Parameters
7. Reed Sensor Market Segmentation
8. Reed Sensor Market Landscape
9. Vendor Matrix
10. Company Profiles
11. Business Overview
12. Financial Data
More…
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