Dublin, Nov. 08, 2021 (GLOBE NEWSWIRE) -- The "Reed Switch Market - Market Size & Forecasting (2017-2028)" report has been added to ResearchAndMarkets.com's offering.
The global reed switch market size was estimated at USD 520.13 million in 2020 and is projected to register a CAGR of 8.36% over the forecast period.
The market is being driven by rising demand for advanced switch sensor technology in a variety of industries, including medical, aerospace & defense, security, telecommunications, transportation, and utilities.
Reed switches are used in these industries for a variety of applications such as sensing and detecting movement, metal detection, proximity sensing, liquid level measurement, and flow measurement. These switches have low power consumption, making them suitable for a variety of battery-powered applications, and are available in power ratings of up to 100W in a variety of sizes. Because of their simple design and low cost, electrical equipment manufacturers actively use these switches.
The growing adoption of smart homes in developed countries such as the United States is expected to increase the demand for the reed switch. Furthermore, because reed switch work efficiently in extreme environments, they are used in machinery ignition systems, manufacturing facilities for liquid flow as well as level monitoring, visual indications, and so on, which is driving market growth.
However, the growth of the market is being hampered by factors, such as the large size of the reed switch, lower durability, and competition from Hall-effect technology as a result of the advancement in technology in magnetic resonance.
Increasing usage of reed switch for an effective passive safety system and the adoption of internet of things will increase the demand for reed switch. Additionally, the rising demand for reed switch from end-users for use in low temperature environment is the key factor that will enhance the growth of the reed switch market during the forecast period.
Asia Pacific region held the largest share of the global reed switch market, with roughly 30.81%.
During the projection period, Asia Pacific is expected to have the fastest growing market share. The automotive sector's exponential rise in India, China, and Japan is predicted to have a beneficial impact on the market's growth. Market growth in the region will be driven by rising demand for passenger and commercial cars, as well as a high penetration of the switch system.
Key Topics Covered:
1 Market Abstract
2 Market Introduction
3. Research Practice
4 Key Related Data
4.1 Competitive Positioning
4.1.1 Product Positioning
4.1.2 Regional Reach Positioning
4.2 Vendor Matrix
4.3 Technological Advancements
4.3.1 New Reed Switch Design Based on Magnetic Silver
4.3.2 Making a Reed Sensor the Planar Mems Way
4.3.3 Making a Mems Reed Sensor the Harm (High Aspect Ratio Microfabrication) Way
4.4 Major Investments in the Last Five Years by Global Players
4.5 Key Industry Trends in Major Countries
4.6 Standards and Regulations
4.7 Potential Reed Switch Company Market Share Outlook
4.8 Covid- 19 Impact on Reed Switch Market
4.8.1 Global Analysis (Region Wise)
4.9 Manufacturing Cost Structure Outlook
4.10 Reed Switch Material Subcontractors and Suppliers
5 Impact Factor Analysis
126.96.36.199 Flourishing Electric Vehicle Market and Electronics Industry
188.8.131.52 Increasing Demand for Smart Home Appliances
184.108.40.206 Functional Issues Related to Reed Switches
220.127.116.11 Increasing Demand for Reed Switches in Sensing and Controls Market
18.104.22.168 Stiff Competition from Alternative Switching Technologies
5.2 Porter's Five Forces Model
5.3 Pricing Overview (Average Selling Price)
6 Market Development Analysis
6.2 New Product Development / Product Launch (2015-2021)
6.3 Mergers and Acquisitions (2015-2021)
7 Global Reed Switch Market, by Type
7.2 Form A (Spst) (Single Pole Single Throw)
7.3 Form B (Spst) (Single Pole Single Throw)
7.4 Form C (Spdt) (Single Pole Double Throw)
7.5 Latch Type
8 Global Reed Switch Market, by Application
8.2 Position Sensing
8.3 Temperature Sensing
8.4 Relay Application
8.5 Pulse Sensing
8.6 Other Applications
9 Global Reed Switch Market, by End Use
9.3 Construction & Security
9.4 Consumer Durables
9.5 Marine & Weather
9.6 Electronics & Communications
9.7 Robotics & Automation
9.8 Internet of Things (Iot)
10 Global Reed Switch Market, Regional Analysis
11 Company Profiles
Standex International Corporation
Smc Corporation of America
Reed Relays and Electronics India Limited
Hong Kong Aleph Co. Ltd
Stg Germany GmbH
Thomas White (Leicester) Limited
For more information about this report visit https://www.researchandmarkets.com/r/pbvu0d
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