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Reed Sensor Market Size, By Mounting Type (Panel Mount Reed Sensor, Surface Mount Reed Sensor, Thread Mount Reed Sensor, Screw Mount Reed Sensor), By Contact Position (Form A, Form B, Form C), By Industry Vertical (Automotive, Electronics & Communication, Healthcare, Industrial, Construction & Security), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027

  • Report ID: GMI2965
  • Base Year: 2020
  • Report Format: PDF

Industry Trends

Reed Sensor Market size exceeded USD 1 billion in 2020 and is anticipated to grow at over 7% CAGR from 2021 to 2027. The global industry unit shipments are projected to reach above 1,500 million units by 2027.
 

Reed Sensor Market Overview

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The reed sensor market growth is attributed to increasing adoption of these sensors in smart home technology products across the globe. These sensors are widely integrated into smart home appliances such as smart HVAC systems, smart door lock systems, dish washers, coffeemakers, and microwaves, among others. Reed sensor provide several benefits, such as high precision, low-power consumption & contact-less sensing, further increasing their acceptance in the market. Smart home products are expected to generate a revenue of USD 15 billion in the U.S. with a y-o-y growth rate of 11% compared to 2020. Adding to this, the proliferation of IoT and AI-based smart home technology products are predicted to support the market expansion during the forecast period.
 

The COVID-19 pandemic has severely affected the reed sensor market progression is credited to the prolonged shutdown of consumer electronics, home appliance, and automotive manufacturing facilities in early 2020. In first half of 2020, market players witnessed various challenges such as disruptions in raw material and component supply chains and international trade restrictions imposed by regulatory bodies & governments across the globe. However, in 2021, several automotive OEMs have reopened their production facilities and are focusing on mass production of passenger cars, majorly hybrid electric vehicles.
 

Technological advancements in surface mount reed sensor will spur the market demand

The surface mount reed sensor held 40% of the market share in 2020 and is poised to observe 8.5% growth rate through 2027. The industry growth is driven by several high-end features offered by surface mount reed sensor such as low-power consumption, smaller footprint, higher switching accuracy, and long life-cycle. These features increase their usage across the industrial and healthcare sectors. Adding to this, the contact-less sensing and low-power switching features further increases their uptake in portable and battery-powered medical devices.
 

Market leaders are focusing on integrating advanced packaging technology in sensor manufacturing to reduce the overall device footprint and increase the operational life-cycle, further contributing to the segment growth.
 

High accuracy offered by form A sensors to propel the market revenue

Reed Sensor Market Share

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The form A contact position segment in the reed sensor market dominated more than 75% of revenue share in 2020 and is estimated to attain a CAGR of 12% CAGR till 2027. The industry expansion is led by high precision and accuracy provided by the form A type contact position. Reed sensor that are form A type are based on Single-Pull Single-Throw (SPST) mechanism due to this it has a higher switching speed compared to other sensors in the market.
 

The Normally Open (NO) configuration of form A type sensors are highly suitable for test & measurement equipment and subsystems including IC testers, SoC test systems & semiconductor test equipment. Growth is majorly attributed to increasing uptake of semiconductor test equipment from foundries and IDMs across Asia Pacific, majorly China. Burgeoning growth of semiconductor test & measurement systems across China will fuel industry progression during the forecast timeline.
 

Rising penetration of hybrid electric vehicles across Germany will support the reed sensor market value

Reed Sensor Market Size

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The automotive segment accounted for 30% of the market share in 2020 and is poised to expand at more than 8% CAGR by 2027. Growth is owing to the increasing adoption of reed-based sensing technology in various automotive systems such as cruise control, ADAS, infotainment & communication systems, and automotive safety systems. These sensors are also integrated into on-board chargers and battery management systems of electric cars. The proliferation of new electric vehicles across European economies, majorly Germany and France, is slated to stimulate the industry demand.
 

Favorable government initiatives to promote smart factory acceptance to create the growth opportunities for APAC region

APAC Reed Sensor Market

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Asia Pacific reed sensor market held 40% of revenue share in 2020 and will showcase 8.5% gains during 2021 to 2027. Growth is credited to favorable government schemes and initiatives supporting smart factory adoption in the region. The smart factories will be assembled with automated manufacturing facilities, leveraging advanced technologies such as AI, machine learning, IoT devices & advance sensors. The reed switches and sensors are highly integrated into industrial equipment including robotics, and automation equipment for proximity, level & flow sensing applications. The extensive penetration of industrial robots in these smart factories will further foster the industry revenue.
 

Focus on strategic acquisitions and mergers to gain a competitive advantage in the industry

Key players operating in the reed sensor market are Littelfuse, Inc., Standex Electronics, Inc., TE Connectivity, HSI Sensing, PIC GmbH, and Coto Technology. These companies are emphasizing on strategic merger and acquisition activities to achieve a competitive advantage over other participants.
 

The reed sensor market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2027 for the following segments:

Market, By Mounting Type

  • Panel mount reed sensor
  • Surface mount reed sensor
  • Thread mount reed sensor
  • Screw mount reed sensor
  • Others

Market, By Contact Position

  • Form A
  • Form B
  • Form C

Market, By Industry Vertical

  • Automotive
  • Electronics & communication
  • Healthcare
  • Industrial
  • Construction & security
  • Others

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Thailand
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • South Africa
    • GCC

 

Authors: Ankita Bhutani, Preeti Wadhwani

Frequently Asked Questions (FAQ) :

Global market size of reed sensor crossed USD 1 billion in 2020 and may exhibit 7% CAGR between 2021-2027. The global unit shipments may cross 1,500 million units by 2027.

The surface mount type accounted for 40% of the market share in 2020 and may exhibit 8.5% CAGR through 2027, driven by its extraordinary features such as smaller footprint, long lifecycle, and low-power consumption.

Automotive systems such as cruise control and infotainment systems require reed sensor installations on a large scale. Automotive segment held 30% revenue share in 2020 and may depict 8% CAGR up to 2027.

Asia Pacific accounted for 40% of reed sensor industry share in 2020 and may register 8.5% gains through 2027, driven by favorable government schemes to encourage smart factory adoption in the region.

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Premium Report Details

  • Published Date: Dec 2021
  • Companies covered: 23
  • Tables & Figures: 461
  • Countries covered: 17
  • Pages: 250

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