Reed Sensor Market Account to US$ 1,473.33 Mn by 2027 | Bimba Manufacturing Company, Coto Technology, Littelfuse, SMC Corporation and Pickering Electronics

Latest market study on "Reed Sensor Market to 2027 - Global Analysis and Forecasts by Type (Proximity Sensor, Level Sensor, Speed Sensor, Flow Sensor, and Others); Contact Position (Form A, Form B, Form C, Form D, and Others) and Application (Automotive & Transportation, Security & Safety, Medical, Consumer Electronics, Telecommunications, and Others)", The global reed sensor market is accounted to US$ 765.07 Mn in 2018 and is expected to grow at a CAGR of 7.8% during the forecast period 2019 - 2027, to account to US$ 1,473.33 Mn by 2027. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.

Robust growth in APAC region is expected to drive the Reed Sensor Market at a CAGR of 7.8%

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Note – The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on ‘Reed Sensor Market’ provides the analysis on impact on Covid-19 on various business segments and country markets. The reports also showcase market trends and forecast to 2027, factoring the impact of Covid -19 Situation.

The global reed sensor market for the type is fragmented into Proximity Sensor, Level Sensor, Speed Sensor, Flow Sensor, and Others. Companies focusing on developing innovative products for domestic and international markets has been one of the prime reasons of China’s leadership in Asian region. Given the huge demand volumes, many companies are likely to focus on the Chinese market and design products that are tailored for China. Chinese companies are increasingly realizing the benefits of adopting emerging technologies and innovating to meet the rising consumer demands. Despite concerns over China’s economy, the growing consumer middle class, as well as the Chinese government’s planned investment in semiconductors, China is expected to play a critical role in the semiconductor industry’s future. Continued impetus in development and commercialization of artificial intelligence, mobile, data and analytics, Internet of Things and robotics is being led by innovative companies based in APAC.

New spends have been concentrated towards operational efficiencies, like ‘factories of the future’ investments and novel business models such as products as a service, subsequently boosting the demand growth for sensor based products and automation in APAC region. There have been significant advancements in the sensors used in vehicles, and various automotive players are working rigorously towards improving the driving experience. Multiple types of reed sensors like proximity sensors, flow sensors, speed sensors, and flow sensors among others have a wide range of applications in the automotive industry. Additionally a strong focus on advanced automation electronic integration like in vehicles infotainment, ADAS (advanced driver-assistance systems) to assist the drivers are also supporting the growth of reed sensors. Reed speed sensors are used for detecting the rotational speed of wheel which and is used in advanced braking systems like ABS (anti-lock braking system) which is driven by the increasing demand for passenger safety. Additionally, the growing demand for autonomous vehicles is also supporting the increasing demand for various reed sensors like proximity sensors, speed sensors, and flow sensors. Therefore, a high focus on advanced automotive integration is expected to drive the revenue of reed sensors.

Some of the leading Reed Sensor market include, Bimba Manufacturing Company, COTO technology, Littelfuse Inc., pic GmBH, Pickering electronics ltd, RMCIP, SMC Corporation, Standex Electronics Inc., STG-Germany group, and Zhejiang Xurui Electronic Co. Ltd among others.

Exponentially growing needs of consumer electronic devices boosting the manufacturing prospects

The demands for consumer electronics is growing at an exponential pace and the pressure from the consumer side has been compelling suppliers to provide differentiated products and be the first movers in the market. Further, the increasing applications of wearable devices in healthcare and the manufacturing sector have created huge demands for consumer electronics. Wearable devices such as smartwatches, AR/VR devices, fitness belts, process monitoring equipment are some of the devices that have gained high prominence in recent times. These electronic devices incorporate high functionalities in the least possible package sizes. Factors such as mobility and portability characterize the form factors and package sizes of the devices. Semiconductor based circuits have the capabilities of integrating multiple functionalities into a single chip utilizing the physical characteristics of semiconductor materials.

Type Insights

The photomask market by type is segmented by reticle, master mask, and copy mask. Different type of photomask is used plays a major role in providing assistance for the production ICs and other semiconductor chips. Also, for the mass production of TFT array and color filter of TFT-LCD panels, the photolithography technology transfer photomask graphics onto the base material of the LCD panels. Henceforth, the precision of photomask has a critical affection on the quality of TFT-LCD panel. High interest in LCD panels is anticipated to boost the business of varied types of the photomask and eventually market growth.

Application Insights

The photomasks find their applications in diversified industries. The global photomask market on the basis of application is segmented into semiconductor and IC, discrete, optoelectronics, display, MEMS, and others. The others segment comprises of magnetic heads for hard disks and heads for inkjet printers. The semiconductor and IC segment led the photomask market, by application in 2018; it is anticipated to continue its dominance during the forecast period.

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