The Global Reed Switch Device Market was valued at US$ 270.1 Million in 2021 and is expected to surpass US$ 600.2 Million by 2030, registering a CAGR of 9.5% during the forecast period (2022-2030), according to the Global Reed switch device Market, By Product Type (Normally Open (A-Type), Normally Closed (B-Type), and Changeover (C-Type)), By Application (Reed Relays and Magnetic Sensors), By Distribution Channel (Direct Sales and Distributor), By Industry Vertical (Electronics & Communications, Automotive, Security, Robotics & Automation, Marine & Weather, Internet of Things (IoT), and Others), By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), published by Coherent Market Insights.
Reed switch is made of two non-touching wire closed in a glass tube, which is filled with noble gas such as nitrogen. Reed switch is operated using electric magnetic field. Due to its simple construction, it is widely used in variety of devices such as smartphone, laptops, ignition switches in cars and bikes, home security devices, and others. Moreover, reed switch device provide many advantages such as low cost operation, long life (as no mechanical friction is present), low power consumption, and others.
The global reed switch device market was valued at US$ 270.1 Mn in 2021 and is expected to exhibit a CAGR of 9.5% during the forecast period (2022-2030).
Key Developments
In December 2020 Littelfuse, Inc., a manufacturer of technologies in circuit protection, power control, and sensing, launched the Form A (single-pole, single-throw normally open or SPST-ON) MITI-7 Series Ultra-Miniature Reed Switch, which is hermetically sealed inside a 7mm-long glass envelope. The MITI-7 Series offers sensitivity options from 6 AT to 20 AT, a much larger range than the 6 AT to 10 AT range of previously available magnetic switches of similar size. Littelfuse has increased production capacity for these compact switches, which enables circuit designers to conserve space on packed circuit boards, thanks to new automated assembly machinery.
Reed Switch Device Market - Impact of Coronavirus (Covid-19) Pandemic:
Reed switch devices are mainly used in various automobile vehicle parts such as ignition systems, charging systems, and others. Prior to the COVID-19 pandemic, the automobile industry had witnessed significant shrinkage, wherein both sales and production of vehicles were reduced by 5 to 10%. Post-COVID-19, to remain operational, companies may reduce the funding on R&D and shift towards manufacturing and sales. Hence, the global reed switch device market witnessed slow growth during the pandemic.
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Competitive Landscape of the Global Reed Switch Device Market:
- Major players operating in the global reed switch device market include Littelfuse, Inc., RMCIP, Standex Electronics, Inc., Nippon Aleph, HSI Sensing, Inc., Coto Technology USA, PIT-RADWAR S.A., PIC GmbH, STG Germany GmbH, Harbin Electric Group, Zhejiang Xurui, Zippy Technology Corp., Honeywell International Inc., Molex Incorporated, and others.
