From 2018 to 2023, the Reed Sensor Market for robotics and automation applications is anticipated to develop at the fastest CAGR. Reed sensors are utilised in a variety of robotics and automation applications, including robotic arm movement (pick and place), visual indication (alert), monitoring liquid flow and level, inventory management systems, and equipment igniting systems. Reed sensors are employed as proximity sensors to regulate conveyor speed, location, and angle for robotic motion. The reed sensor industry is expanding as a result of increased production automation.
At a CAGR of 7.40% from 2018 to 2023, it is anticipated that the global market for reed sensors would increase from USD 1.49 billion in 2017 to USD 2.30 billion by 2023. Reed sensors provide a number of benefits, including straightforward and dependable sensing and actuation capabilities, cheap operating costs, little power consumption, and the ability to operate safely in tough industrial conditions, all of which contribute to the market's expansion. With the introduction of new applications and technology, the market is expanding. Numerous industries, including telecommunications, automotive and transportation, consumer electronics and appliances, safety and security, healthcare, construction, robotics and automation, and others, use these sensors. The forecast period runs from 2018 through 2023, with 2017 serving as the study's base year.
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APAC to dominate reed sensor market during forecast period
During the projected period, the APAC reed sensor market is anticipated to develop at the highest CAGR. APAC countries' rising disposable incomes have raised demand for automobiles and consumer electronics, which has in turn fueled the expansion of the reed sensor market in the area. Reed sensors are becoming more widely used, and both the influx of international players and the rise of local competitors are fueling the market's expansion. Because of this, APAC commands a sizeable portion of the global reed sensor market.
The leading companies in the industry include Aleph America (US), Coto Technology (US), Pickering Electronics (UK), Littelfuse (US), HSI Sensing (US), RMCIP (Russia), Standex-Meder Electronics (US), PIC GmbH (Germany), and Zhejiang Xurui Electronic (China). To create and release new technologies and goods on the market, these businesses are progressively engaging in mergers, acquisitions, and product launches.
By 2023, dry reed sensors will account for the greatest market share.
By 2023, dry reed sensors are anticipated to have the highest value share of the reed sensor market, based on type. This technology's advantages over other magnetic devices in terms of extended life, separated contacts from the environment, low operating power, low cost, and better glass-to-metal seal are what account for the majority of its sensors' market share. The dry-reed sensor is utilised in many different fields, including consumer electronics and appliances, security and safety, and automotive and transportation.
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