Reed Sensor Market Taking Technology To The Next Level | Bimba Manufacturing Company, COTO technology, Littelfuse, Pickering electronics
The global reed sensor market is accounted to US$ 765.07 Mn in 2018 and is expected to grow at a CAGR of 7.8% during the forecast period 2019 – 2027, to account to US$ 1,473.33 Mn by 2027. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
The global reed sensor market for the type is fragmented into Proximity Sensor, Level Sensor, Speed Sensor, Flow Sensor, and Others. Companies focusing on developing innovative products for domestic and international markets has been one of the prime reasons of China’s leadership in Asian region. Given the huge demand volumes, many companies are likely to focus on the Chinese market and design products that are tailored for China. Chinese companies are increasingly realizing the benefits of adopting emerging technologies and innovating to meet the rising consumer demands. Despite concerns over China’s economy, the growing consumer middle class, as well as the Chinese government’s planned investment in semiconductors, China is expected to play a critical role in the semiconductor industry’s future. Continued impetus in development and commercialization of artificial intelligence, mobile, data and analytics, Internet of Things and robotics is being led by innovative companies based in APAC.
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Some of the leading Reed Sensor market include, Bimba Manufacturing Company, COTO technology, Littelfuse Inc., pic GmBH, Pickering electronics ltd, RMCIP, SMC Corporation, Standex Electronics Inc., STG-Germany group, and Zhejiang Xurui Electronic Co. Ltd among others.
New spends have been concentrated towards operational efficiencies, like ‘factories of the future’ investments and novel business models such as products as a service, subsequently boosting the demand growth for sensor based products and automation in APAC region. There have been significant advancements in the sensors used in vehicles, and various automotive players are working rigorously towards improving the driving experience. Multiple types of reed sensors like proximity sensors, flow sensors, speed sensors, and flow sensors among others have a wide range of applications in the automotive industry. Additionally a strong focus on advanced automation electronic integration like in vehicles infotainment, ADAS (advanced driver-assistance systems) to assist the drivers are also supporting the growth of reed sensors. Reed speed sensors are used for detecting the rotational speed of wheel which and is used in advanced braking systems like ABS (anti-lock braking system) which is driven by the increasing demand for passenger safety. Additionally, the growing demand for autonomous vehicles is also supporting the increasing demand for various reed sensors like proximity sensors, speed sensors, and flow sensors. Therefore, a high focus on advanced automotive integration is expected to drive the revenue of reed sensors.
Europe was the leading geographic reed sensor market and it is anticipated to be the highest revenue contributor throughout the forecast period. The consumer electronics market in Europe has witnessed aggressive and stable demands in different countries of the region. The NORDIC countries of Europe consist of a large number of Small and Medium scale industries (SMEs) that have steady demands for reed sensor based products. On the other hand, economically strong countries like Germany, Italy, UK and Spain have witnessed rapid growth in the implementations of reed sensors in the different industry verticals primarily led by consumer electronics and automotive sectors.
The reed sensor of a reed switch are available in various configurations in the market. A reed switch typically consists of two or three metal reed contacts that are sealed hermetically inside a glass tube. The glass tube contains an inert gas that prevents the metal contacts to get in touch with each other unless given an input in the form of electro-magnetic field. The reed sensor come in varying sizes, magnetic sensitivities, and exhibit high power capabilities, high voltage capabilities as well as different contact and lead configurations. Accordingly, the study on reed sensor has been therefore segmented by contact position into Form A, Form B, Form C, Form D, and others. The growing demands for various consumer electronics devices coupled with additional demands for various smart security related products by individuals and businesses alike is anticipated to propel the growth in the adoptions for form A configuration of reed sensor.
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