Reed Sensor Market in Asia Pacific Region Is Estimated to Grow in Terms of Unit Shipment at a CAGR of 12.5% by 2024: Littelfuse, Standex-Meder Electronics, YASKAWA Europe

Sellbyville, DE -- (SBWire) -- 05/07/2019 --Asia Pacific reed sensor market dominates the industry and is expected to grow in terms of unit shipment at a CAGR of 12.5%. This is attributed to the established electronic and automotive industries of Taiwan and China respectively. Shanghai and Beijing are the major regions for the manufacturing of automobiles, communication equipment, and electronics in China, augmenting the market. Government support provided to Taiwan's electronics industry is one of the major factors augmenting demand. Growing market for smart home devices in South Korea is further contributing toward industry growth. A high demand for remote home monitoring systems is creating opportunities for the market as many manufacturers are expanding their smart home product portfolios.

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The global reed sensor market is lately witnessing an exponential growth rate, driven by the rapidly rising demand for advanced sensor technologies across industries such as military, aerospace, medical, security, transportation, smart grid & utilities and telecommunications. Attributing to a widespread application spectrum, the global reed sensor market was valued at over $1 billion according to a 2017 estimate. Reed sensors are basically devices made up of reed switches that incorporate a pair of flexible magnetic reeds and can be used in various applications ranging from flow and liquid level measurement to motion detection and sensing, proximity sensing and metal detection.

The reed sensor market has been segmented by product, contact position and application. Based on contact position, form A is estimated to hold the largest market share owing to their capability to be manufactured in smaller sizes than other contact forms. This is driving their demand across various verticals contributing towards the growth of the market. Asia Pacific is projected to dominate the reed sensor market due to their extensive demand from the electronics industry from regions such as Taiwan, South Korea and China.

Compact sensors are being manufactured for such devices which are exclusively manufactured for use in life saving equipment are very compact and have a very high degree of reliability and precision. Other medical equipment in which it finds applications include capsule endoscopy, glucose monitors, neuromodulation, core body temperature capsule etc contributing to the reed sensor market.

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In addition to smart appliances, the increasing popularity of smart homes has also been augmenting the industry trends. In order to enhance home security for instance, core companies have developed smart security devices such as cameras, smart locks. Other smart home technologies such as smart meters have also been developed and used to monitor the water flow and prevent extensive flooding. In fact, with the significant use of reed sensors in the household energy appliances, it is quite possible to obtain the advantage of energy efficient returns. The increasing awareness regarding the usage of energy efficient electronic devices for minimizing the overall energy cost has thus been impelling reed sensor market share from consumer electronics applications.

The reed sensor market landscape is highly consolidated with a few major players as manufacturing reed sensors require specialized equipment and technical expertise. Major vendors in the market space are Standex Meder, Littelfuse, HSI Sensing, Coto Technology, Nippon Aleph, and others.

The surging use of automated products for better life quality, good health, and energy efficiency will have a considerable impact on the product demand. Moreover, the growing popularity of smart homes is certainly anticipated to stimulate the industry trends over the years ahead. The shifting trends toward the increasing deployment of electric vehicles for reducing GHG emissions and energy efficiency will also further propel reed sensor market which will generate a revenue of more than USD 2 billion by the end of 2024.

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Table of Content:

Chapter 4. Reed Sensor Market, By Product (Revenue, Shipment)
4.1. Key trends by product
4.2. Dry
4.2.1. Market estimates and forecast, 2013 - 2024
4.3. Mercury-wetted
4.3.1. Market estimates and forecast, 2013 - 2024

Chapter 5. Reed Sensor Market, By Contact Position (Revenue, Shipment)
5.1. Key trends by contact position
5.2. Form A
5.2.1. Market estimates and forecast, 2013 - 2024
5.3. Form C
5.3.1. Market estimates and forecast, 2013 - 2024
5.4. Others
5.4.1. Market estimates and forecast, 2013 - 2024

Chapter 6. Reed Sensor Market, By Application (Revenue)
6.1. Key trends by application
6.2. Automotive
6.2.1. Market estimates and forecast, 2013 - 2024
6.3. Consumer electronics
6.3.1. Market estimates and forecast, 2013 - 2024
6.4. Telecommunications
6.4.1. Market estimates and forecast, 2013 - 2024
6.5. Healthcare
6.5.1. Market estimates and forecast, 2013 - 2024
6.6. Construction & security
6.6.1. Market estimates and forecast, 2013 - 2024
6.7. Industrial controls & automation
6.7.1. Market estimates and forecast, 2013 - 2024
6.8. Others
6.8.1. Market estimates and forecast, 2013 - 2024

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