Reed Sensor Market Analysis By Global Industry Size, Share, Trends, Opportunity and Forecast 2024
Global Reed Sensor market is anticipated to reach over USD 2 Billion, growing at a CAGR of over 7% during the forecast period, due to the rising application of reed sensors in automotive industry. Factors, such as low operating cost and capability to work in harsh conditions, are further bolstering the growth of the market. Based on the type, the market has been bifurcated into Dry Reed Sensor and Mercury Wetted Reed Sensor. Owing to the features, such as low cost when compared with other magnetic devices, and longer life, the dry reed sensor is anticipated to acquire major share in the forecast period. Based on the contact position, the market has been segmented into Form A, Form B, Form C and Others. The demand for form A contact position is expected to increase due to smaller size. Robotics and Automation Application anticipated to grow at the highest rate during the forecast period On the basis of application, the market has been segmented into Telecommunication, Automotive & ...