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Reed Sensor Market in Industrial Controls & Automation Segment is Projected to Reach USD 300 Million by 2024

Author : Ronak Bora | Published Date : 2019-04-17 

The industrial controls & automation segment in the reed sensor market will witness growth to reach over USD 300 million by 2024 due to an increased demand in the industrial sector for ferrous part detection, end-position sensing in cylinders & pistons, and in transformer tap changers. They are considered as the extremophile of sensors as they work efficiently in most harsh environments and can be used from the bottom of the ocean (high pressure) to space (zero pressure) and from very cold (cryogenic temperatures) to very hot (> 200 C). Reed sensor market is witnessing a huge demand in lock systems as they consume low power and serve as a desired solution for many emerging security applications that use battery-powered devices with wireless controllers.

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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 is projected to witness lucrative growth for the forecast period owing to their growing demand of these components in the healthcare industry. The increasing incidence of heart diseases have propelled the demand for such medical devices ensuing the growth of the reed sensor market. These sensors are used in defibrillators and pacemakers for heart conditions such as bradycardia and tachycardia in which the heart beats at an abnormal rate. The devices enable these equipment to operate with high precision and the device mode is changed with a magnet externally.

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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.

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 reed sensors 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.

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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.

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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