Reed switch is one of the mature technologies which has proliferated applications owing to its low power usage, simplicity, and reliable performance. A reed switch sensor and its sister element, reed relay sensor are gaining huge traction in the appliances market, taking advantage of their unique capabilities. For designing low-power electronics and smart devices, reed switch technology is highly preferred when compared to solid-state sensing technologies as they offer tight power usage tolerance and precise magnetic sensitivity making them more flexible and reliable. As a result, the global [FURL=https://www.industryarc.com/PressRelease/1977/Reed-Switch-Market-Research.html]Reed Switch Market[/FURL] size attained a value of $14.3 billion in 2018, and the market is rising at a CAGR of 8.7% during 2019-2025.High-Penetration of Automation Significantly Uplifts the Reed Switch Market Growth
With the rise in automation, reed switch market is expediting with wide-gamut applications. Industry 4.0 and Industrial Internet of Things (IIoT) are the game changers in the automation industry. With these trends, innovations in the targeted applications and rise of control systems such as industrial robots and information technology to automate several industrial processes and machinery are augmenting. These trends are highly adopted by industries, including healthcare, manufacturing, construction, and packaging, which are experiencing significant benefits such as high productivity, low-cost, high precision, and better safety. For end position sensing in the hydraulic or pneumatic actuator of industrial robots and other automation equipment, reed sensors provide excellent isolation, high operational speed, and use no power. The industrial robots were experiencing proliferated growth for the past few years and witnessed a growth rate of about 19% per year during 2012-2017.
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Strong Base of the End-Users in APAC is Intensifying the Reed Switch Market
APAC is the leading region in the global reed switch market and accounted for a significant share of 36.7% in 2018. The robust end-user industries such as consumer durables, mobile devices, and automotive sectors are the fundamental growth drivers of the reed switch market in this region. On the other hand, the (13th) 5-year plan of China and Society 5.0 of Japan are boosting the growth of smart IoT connected devices and appliances. Along with that, the Indian appliance and consumer electronics market is projected to grow at a CAGR of 9%, during 2018-2022.
Key Players Functioning In the Global Reed Switch Industry
The core companies operating with a strong base in the global reed switch market are Standex-Meder Electronics, Celduc, Honeywell International Inc., Littelfuse, Inc., and Molex Incorporated. Standex Electronics is a global leader with more than 50% market share.
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