Reed Relay Market Size to Reach USD 1120 Million by 2030, Says The Brainy Insights
The reed relay market is being driven by an increase in demand for sophisticated switch sensor technology across numerous sectors, including healthcare, aerospace & defence, security, telecommunications, transportation, and utilities. The market is anticipated to profit from the expansion of the automotive industries in China, India, and Japan.
Newark, Feb. 17, 2023 (GLOBE NEWSWIRE) — The Reed Relay market was estimated at around 350 million in 2021, growing at a CAGR of nearly 15% during 2022-2030. The market is projected to reach approximately USD 1120 million by 2030.
A reed relay is a type of relay that manages one or more reed switches using an electromagnet. Because the contacts are made of magnetic material, the electromagnet moves them without the aid of an armature. The contacts are shielded from corrosion by being sealed inside a lengthy, skinny glass tube. More than one reed switch may be present in the glass envelope, or more than one reed switch may be put into a single bobbin and activated simultaneously. The 1930s saw the beginning of the production of reed switches.
Get more insights from the 230-page market research report @ https://www.thebrainyinsights.com/enquiry/sample-request/13208
Reed relays may switch much more quickly than armature-based relays because they have fewer, lighter moving elements, yet switch bounce is still an issue. Additionally, they have a reduced contact capacitance and need less power to operate. Despite having a low current handling capacity, they are excellent for “dry” switching applications when used with the right contact materials. They are mechanically straightforward, which promotes dependability and long life.
The growth of Industrial 4.0 and industrial automation will facilitate the deployment of reed sensors. IFR estimates that 630,000 robot units will be deployed internationally by 2022. International standards and new technologies improve working conditions, boost output, and lessen their impact on the environment. Each actuator or hydraulic cylinder’s end position is determined by a reed sensor.
Additionally, market value growth will be fueled by increased urbanisation and rising levels of disposable income. Additionally, the growing number of reed sensor applications in HVAC, household appliances, and smart metres may moderate the market development rate. The advantages of low operating power and being able to operate in a variety of environments are another important aspect impacting the market’s growth rate.
Reed sensors are being used more and more in emerging technologies, which will increase new market opportunities and accelerate industry growth. As a result of technological advancements in sensor and switch technology, the trend toward high miniaturisation and extremely trustworthy reed switches is acting as a driver for the reed sensor in many end-user industries.
Additionally, supportive government programmes promoting the production of consumer electronics in developing nations and newly developing marketplaces will operate as market drivers and improve advantageous prospects for the industry’s growth rate.
Custom Requirements can be requested for this report @ https://www.thebrainyinsights.com/enquiry/request-customization/13208
The type segment of the market is divided into SPST Single Pole Single Throw, SPDT Single Pole Double Throw, Single Pole Single Throw, and latch type. Electronics & communications, consumer durables, automotive, construction & security, robotics & automation, maritime & weather, internet of things (IoT), and others make up the market’s end use sector. The largest portion was accounted for by the automotive industry. The market has room to grow due to the rising global demand for electric vehicles. In order to speed up the charging process for electric cars, reed switches are utilised in the chargers.
The biggest market share of the total market was held by the Asia-Pacific in the Reed Relay market. Due to the country’s need for electric vehicles and luxury vehicles, automotive reed sensors are expected to expand during the year 2019. Due to the numerous electronic systems contemporary cars feature, including ADAS, digital cockpit systems, and high safety systems, early braking sensing warns drivers of potential collisions or accidents as they apply the brakes.
The world’s greatest sales of electric vehicles in 2019 occurred in China, when about 1.8 million vehicles were sold. Additionally, the Chinese government is spending a lot of money to upgrade the nation’s infrastructure and offer adequate EVs on Chinese roadways with charging stations. For instance, the Chinese government has decided to invest RMB 10 billion in April 2020.
|Report Coverage||Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, and Latin America|
|Market Size(unit)||USD Billion|
|Reed Relay Market CAGR||15%|
|Segments Covered||By Type
Have a question? Speak to Research Analyst @ https://www.thebrainyinsights.com/enquiry/speak-to-analyst/13208
List of the prominent players in the Global Reed Relay market:
• STG GmbH
• OMRON Corporation
• SMC Corporation
• Littelfuse Inc.
• Ryazan Metal Ceramics Instrumentation Plant JSC
• HSI Sensing
• Reed Relays and Electronics India Limited
• Comus International
• Hong Kong Aleph Co. Ltd.
• The STG Germany GMBH
• Thomas White (Leicester) Limited
• Coto Technology
• PIC (Proximity Instrumentation Controls) GmbH,
• PIT-RADWAR SA
• Celduc Relais
The global Reed Relay market is segmented as follows:
• SIL Package
• DIP Package
• Position sensing
• Temperature sensing
• Pulse sensing
• North America
o The U.S.
o The UK
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
• The Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of the Middle East & Africa
• Latin America
o Rest of Latin America
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirement whether they are looking to expand or planning to launch a new product in the global market.
Head of Business Development
Email: [email protected]
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. AfternoonHeadlines.com takes no editorial responsibility for the same.