Reed Sensor Market Growth Outlook Through 2024-2033

Overview and Scope
A reed sensor is an electronic component used for sensing and detecting the presence or absence of a magnetic field. It is a simple, passive device that consists of two ferromagnetic reed contacts enclosed in a glass envelope and separated by a small gap. Reed sensors are of different shapes and sizes, can resist vibration, and meet additional application requirements such as position sensing, pulse counting, coil application, and temperature sensing.

Sizing and Forecast
The reed sensor market size has grown strongly in recent years. It will grow from $1.61 billion in 2023 to $1.77 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to electronics miniaturization, automotive industry adoption, telecommunications expansion, industrial automation growth, security system development.

The reed sensor market size is expected to see strong growth in the next few years. It will grow to $2.47 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to iot and connected devices, automotive industry advancements, rise in home automation, safety and security needs, advancements in material science. Major trends in the forecast period include advancements in magnet technology, enhanced sensing capabilities, ai and machine learning integration, energy harvesting solutions, increased reliability and longevity.

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Segmentation & Regional Insights
The reed sensor market covered in this report is segmented –

1) By Type: Ultra-Miniature, Dry-Reed Sensor, Mercury-Wetted
2) By Mounting Type: Panel Mount Reed Sensor, Surface Mount Reed Sensor, Thread Mount Reed Sensor, Screw Mount Reed Sensor, Other Mounting Types
3) By Contact Position: Form A, Form B, Form C, Others Contact Positions
4) By Industry Vertical: Automotive, Electronic, Information Technology And Telecommunication, Healthcare, Robotics And Automation, Aerospace, Construction, Safety And Security, Other Industry Verticals

Asia-Pacific was the largest region in the reed sensor market in 2023. The regions covered in the reed sensor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
Increasing demand for electric vehicles is expected to propel the growth of the reed sensor market going forward. Electric vehicles are types of vehicles that are designed to be more environmentally friendly and energy-efficient compared to traditional internal combustion engine vehicles. Reed sensors are primarily used in electric vehicles for position and proximity sensing. It enhances functionality, safety, and efficiency while ensuring reliable and accurate sensing capabilities and controlling the operation of the vehicles. For instance, in September 2022, according to the International Energy Agency, a France-based autonomous intergovernmental organization, sales of electric vehicles nearly doubled to 6.6 million in 2021 compared to 2020, which is almost 9% of sales share, and increased by 4 % points in 2021, increasing the total number of electric vehicles on the road to 16.5 million. Therefore, the increasing demand for electric vehicles is driving the growth of the Reed sensor market.

Key Industry Players

Major companies operating in the reed sensor market report are ZF Friedrichshafen AG, Schneider Electric SE, TE Connectivity, Madison Company Inc., Yaskawa Electric Corporation, Littelfuse Inc., KEMET Corporation, AirTAC International Group, GEMÜ Group, Standex Electronics Inc., HNC Electric Ltd., PIC GmbH, HSI Sensing, Coto Technology Inc., Bernstein AG, Pickering Electronics Ltd., Aleph America Corporation, MagneLink Inc., Misensor Tech (Shanghai) Co. Ltd., Sensor Measurement PTY Ltd., Zhejiang Xurui Electronics Co Ltd., Hamilton Electronics Pvt. Ltd., Sigma Enterprises, Ryazan Metal Ceramics Instrumentation Plant JSC, STG Germany GmbH.

The reed sensor market report table of contents includes:

1. Executive Summary
2. Reed Sensor Market Characteristics
3. Reed Sensor Market Trends And Strategies
4. Reed Sensor Market – Macro Economic Scenario
5. Global Reed Sensor Market Size and Growth
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31. Reed Sensor Market Other Major And Innovative Companies
32. Global Reed Sensor Market Competitive Benchmarking
33. Global Reed Sensor Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Reed Sensor Market
35. Reed Sensor Market Future Outlook and Potential Analysis
36.Appendix

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