Reed Sensor Market | Growing region and key players | Analysis and forecast to 2023


Posted August 2, 2019 by poojapatange

Reed Sensor Market by Type, Contact Position (Form A, Form B, Form C), Application (Automotive & Transportation, Consumer Electronics & Appliances, Robotics & Automation, Safety & Security), and Geography - Global Forecast to 2023

 
The overall reed sensor market is expected to grow from USD 1.49 billion in 2017 to USD 2.30 billion by 2023, at a CAGR of 7.40% from 2018 to 2023. Reed sensors offer several advantages, such as simple and reliable sensing and actuation capabilities; low cost and zero power requirement for operation; and safe to use in harsh industrial environments, which, in turn, help in the growth of the market. The reed sensor market is gaining traction with the emergence of new applications and technologies. These sensors are being used in many applications such as telecommunications, automotive and transportation, consumer electronics and appliances, safety and security, healthcare, construction, robotics and automation, and other applications. The base year considered for the study is 2017, and the forecast has been provided from 2018 to 2023.

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The following are the major Objectives of the Study.

To describe and forecast the reed sensor market, in terms of value, by type, contact position, and application
To describe and forecast the market, in terms of volume, by type and application
To describe and forecast the reed sensor market, in terms of value, by region Asia Pacific (APAC), Europe, North America, and Rest of the World (RoW), along with their respective countries
To provide detailed information regarding major factors influencing market growth (drivers, restraints, opportunities, and challenges)
To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
To study the complete value chain of reed sensor
To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the reed sensor ecosystem
To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing competitive landscape for market leaders
To analyze strategic approaches such as product launches, acquisitions, contracts, agreements, and partnerships in the reed sensor market

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. As a result, APAC holds a significant share of the overall reed sensor market.

The key players in the 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). These players are increasingly undertaking mergers and acquisitions, and product launches to develop and introduce new technologies and products in the market.

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Issued By Puuja
Country India
Categories Electronics , Semiconductors , Technology
Tags reed sensor market , sensors
Last Updated August 2, 2019