Reed Sensor Market Analysis: Predicting a $2.30 Billion by 2023

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MarketsandMarkets Presents
The Reed Sensor Market is expected to grow from
USD 1.61 billion in 2018 to USD 2.30 billion by
2023, at a CAGR of 7.40 during the forecast
period. The growth of this market is mainly
driven by factors such as use of reed sensors in
the automotive industry application of reed
sensors in home appliances, HVAC, and smart
meters and benefit of low operating power and
capable of working in harsh environments.
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MarketsandMarkets Presents
Key Players The Key Players in the Reed Sensor
Market include Littelfuse (US), HSI Sensing (US),
RMCIP (Russia), Standex-Meder Electronics (US),
PIC GmbH (Germany), Coto Technology (US),
Pickering Electronics (UK), Aleph America (US),
STG Germany GmbH (Germany), and Zhejiang Xurui
Electronic (China). Download PDF Brochure
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MarketsandMarkets Presents
Dry Reed Sensors to hold largest share of Reed
Sensor Market by 2023 Dry Reed Sensors are
expected to hold the largest share of the Reed
Sensor Market based on type, in terms of value,
by 2023. The largest share of the sensors based
on this technology is attributed to its features
such as long life, contacts isolated from the
environment, low operating power, low cost
compared with other magnetic devices, and
superior glass-to-metal seal. The dry-reed sensor
is used for a wide range of applications such as
automotive and transportation, security and
safety, and consumer electronics and appliances.
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MarketsandMarkets Presents
Reed Sensor Market for Robotics Automation
Application to grow at highest CAGR from 2018 to
2023 The Reed Sensor Market for robotics and
automation applications is expected to grow at
the highest CAGR from 2018 to 2023. In the
robotics and automation application, reed sensors
are used in various parts such as robotic arm
movement (pick and place), visual indication
(alarm), liquid flow and level monitoring,
inventory management systems, and machinery
ignition systems. Reed sensors are used as
proximity sensors to control robotic motion,
conveyor speed, location, and angle. The increase
in automation in the manufacturing field helps in
the growth of the Reed Sensor Market.
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MarketsandMarkets Presents
APAC to dominate Reed Sensor Market during
forecast period The Reed Sensor Market in APAC
is expected to grow at the highest CAGR during
the forecast period. The rise in disposable
income in APAC countries has led to the increase
in the demand for vehicles and consumer
appliances, which, in turn, increased the growth
of the Reed Sensor Market in this region. The
increasing penetration of reed sensors and the
influx of global players, along with the
emergence of native players, are contributing to
the growth of the market. Browse For More
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