At a CAGR of 7.40% throughout the projected period, the Reed Sensor Market is anticipated to increase from USD 1.61 billion in 2018 to USD 2.30 billion by 2023. Reed sensors are used in the automobile sector, are used in home appliances, HVAC systems, and smart metres, and have the advantages of low operating power and being able to operate in hostile environments. These are the primary factors driving the growth of this market.

Key Players:

Littelfuse (US), HSI Sensing (US), RMCIP (Russia), Standex-Meder Electronics (US), PIC GmbH (Germany), Coto Technology (US), Pickering Electronics (UK), Aleph America (US), STG Germany GmbH (Germany), and Zhejiang Xurui Electronic (China) are some of the major players in the Reed Sensor market. To create and release new technologies and products on the market, these players are increasingly engaging in mergers, acquisitions, and product launches.

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By 2023, dry reed sensors will command the biggest market share.

By 2023, dry reed sensors are anticipated to command the highest value share of the reed sensor market. 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.

From 2018 to 2023, the Reed Sensor Market for Robotics & Automation Applications will expand at the highest CAGR.

From 2018 to 2023, the Reed Sensor Market for robotics and automation applications is anticipated to see the greatest 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 Market is expanding as a result of increased production automation.

During the projection period, APAC will rule the market for reed sensors.

During the projected period, the Reed Sensor Market in APAC is anticipated to develop at the highest CAGR. The demand for cars and consumer electronics has increased as a result of the rise in disposable income in APAC nations, which has also boosted the expansion of the Reed Sensor Market in this region. 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.

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