Global reed sensor market share is expected to gain immense momentum over 2018-2024, as a result of the escalating production of electric vehicles across the globe.
Various automotive manufacturers, such as Daimler and BMW, are making high investments in EV charging infrastructure, and have revealed plans to develop around 400 charging sites in Europe. These components ensure safe and efficient charging of EVs, continually check the position of the connectors, as well as interrupt the power supply when the need arises, to curb potential electrical accidents. These factors will considerably push the demand for reed sensor switch over the forecast spell.
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Some of the noteworthy end-use businesses including automotive, security systems, and consumer electronics have been depicting a substantially high demand for reed sensors. These sensors are used in various electronic devices as fluid level sensors and proximity sensors. A gist of the significance of these devices, specifically in the consumer electronics sector, has been outlined below.
In the era of digitalization, the advent of smart technologies has transformed homes and the usage of home appliances. As of now, most of the electronics devices manufacturers have developed a large range of smart kitchen appliances, that has been possible on account of sensors. From coolers to washing machines and sewing machines to food processors, home appliances have witnessed a commendable upsurge in functionality. The reed switch has successfully been integrated with coffee makers, dishwashers, and water heaters as fluid level sensors and in bicycle odometers, access panels, and appliance doors as proximity sensors.
In addition to smart appliances, the increasing popularity of smart homes has also been augmenting the industry trends. In order to enhance home security for instance, core companies have developed smart security devices such as cameras, smart locks. Other smart home technologies such as smart meters have also been developed and used to monitor the water flow and prevent extensive flooding. In fact, with the significant use of reed sensors in the household energy appliances, it is quite possible to obtain the advantage of energy efficient returns. The increasing awareness regarding the usage of energy efficient electronic devices for minimizing the overall energy cost has thus been impelling reed sensor market share from consumer electronics applications.
In the rapidly transforming industrial sector, the shifting focus toward improvisation of plant productivity for obtaining more revenue benefits has been leading to the implementation of automatic and robotic machinery. As of now, most of the companies have been deploying robots instead of humans for maintaining work accuracy, higher performance, and better output at the workplace. In order to control the robotic motion, reed sensors have been incorporated heavily in these robots, and assist in sensing doors, hoppers, tracks, and valves. The prominent use of proximity and fluid level sensors to control speed, motion and the working platform of robotic machines is poised to boost reed sensor market share over the years ahead.
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From a regional perspective, the Asia Pacific reed sensor market is expected to gain prominence over the forecast spell, which can be attributed to the extensive product demand from the electronics industry in China, South Korea, and Taiwan. The regional market growth will also be further driven by the escalating automobile industry expansion.
Major Key Points from Table of Content:
Chapter 4. Reed Sensor Market, By Product (Revenue, Shipment)
4.1. Key trends by product
4.2.1. Reed sensor market estimates and forecast, 2013 - 2024
4.3.1. Market estimates and forecast, 2013 - 2024
Chapter 5. Reed Sensor Market, By Contact Position (Revenue, Shipment)
5.1. Key trends by contact position
5.2. Form A
5.2.1. Market estimates and forecast, 2013 - 2024
5.3. Form C
5.3.1. Market estimates and forecast, 2013 - 2024
5.4.1. Market estimates and forecast, 2013 - 2024
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