Northbrook, IL -- (SBWIRE) -- 10/08/2018 -- The reed sensor market is expected to be valued at USD 2.30 billion by 2023, growing at a CAGR of 7.40% from 2018 to 2023. The key factors driving the growth of this market are the use of reed sensors in the automotive industry; application of reed sensors in home appliances, HVAC, and smart meters; and benefit of low operating power and capable of working in harsh environments.

A reed sensor is a hermetically sealed electromagnetic sensor operated by an applied magnetic field generated by either a permanent magnet or current-carrying coil. Reed sensors are used for sensing and detecting movement, proximity, metal detection, and liquid level and flow measurement. It consists of 2 or more metal reed contacts (blades) that are hermetically sealed inside a glass capsule containing inert gas to prevent the activation of contacts. The contacts can be normally open, which closes in the presence of a magnetic field, and normally closed, which opens when a magnetic field is applied.

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The reed sensor market for the robotics and automation application is expected to grow at the highest CAGR from 2018 to 2023. The robotics and automation application use reed sensors in various parts such as robotic arm movement (pick and place), visual indication (alarm), liquid flow and level monitoring, inventory management systems, and machinery ignition systems. Reed sensors are used as proximity sensors to control robotic motion, conveyor speed, location, and angle. The increase in automation in the manufacturing field helps in the growth of the reed sensor market.

APAC held the largest size of the reed sensor market in 2017. Also, the reed sensor market in APAC is expected to grow at the highest CAGR during the forecast period. The rise in disposable income in APAC countries has led to the increase in the demand for vehicles and consumer appliances, which, in turn, increased the growth of the reed sensor market in this region. The increasing penetration of reed sensors and the influx of global players, along with the emergence of native players, are contributing to the growth of the market.

There are huge growth opportunities for the reed sensor market, particularly for automotive and consumer appliances applications in countries such as China and India. As reed sensors offer lower power consumption than any other competing technology could deliver, saving significant cost by increasing its overall efficiency will further benefit automotive and consumer electronics companies.

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