Reed Sensor Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2021-2027

The global reed sensor market is projected to grow from $1.55 billion in 2017 to $2.37 billion in 2023 with an average annual growth rate (CAGR) of 7.43% over the forecast period. The increasing use of reed sensors in the automotive industry is one of the key factors driving the growth of the reed sensor market. In addition to the automotive industry, reed sensors have a wide range of applications in consumer electronics, robotics and automation, communications, safety and security. However, vulnerability to breakage during installation is one of the factors that hinder the adoption of reed sensors in the market. The use of reed sensors in electric vehicles is also expected to revitalize this market in the future. However, these manufacturers are struggling to improve the efficiency and reliability of reed sensors. Therefore, most of them are investing in research and development of cost-effective and reliable reed sensors due to increasing demand. Leading players such as Littelfuse Inc., HSI Sensing, RMCIP, Standex-Meder Electronics Inc., PIC GmbH, Coto Technology, Pickering Electronics Ltd, Aleph America Corporation continue to focus on expanding their product portfolio, adopting the following weapons strategies: I’m doing it. Expand your geographic presence and expand your customer base through mergers and partnerships.

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.

Reed Sensor Market Segmentation

By Type

• Dry-Reed Sensor
• Mercury-Wetted Reed Sensor

By Application

• Automotive
• Transportation
• Consumer Electronics
• Robotics & Automation
• Telecommunications
• Healthcare
• Construction
• Others

Geographic Coverage

o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume

The report covers the following objectives:

• Proliferation and maturation of trade in the global reed sensor market.

• The market share of the global reed sensor market, supply and demand ratio, growth revenue, supply chain analysis, and business overview.

• Current and future market trends that are influencing the growth opportunities and growth rate of the global reed sensor market.

• Feasibility study, new market insights, company profiles, investment return, revenue (value), and consumption (volume) of the global reed sensor market.

Recent Developments

o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment

Key Questions Answered by Reed Sensor Market Report

• What was the Reed Sensor Market in 2020 and 2021; what are the estimated growth trends and market forecast (2021-2027).
• What will be the CAGR of Reed Sensor Market during the forecast period (2021-2027)?
• Which segments (product type/applications/end-user) were most attractive for investments in 2018? How are these segments are expected to grow during the forecast period (2021-2027)?
• Which manufacturer/vendor/players in the Reed Sensor Market was the market leader in 2018?
• Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.