TMCnet News
Surface Mount Reed Relays Market to Reach $658.9 Million, Globally, by 2031 at 6.9% CAGR: Allied Market ResearchThe increasing adoption of automation technologies, growth in the renewable energy sector, and increase in demand for miniaturization for medical devices drive the growth of the global surface mount reed relays market. PORTLAND, Ore., March 23, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Surface Mount Reed Relays Market by Coil Voltage (3 Volt to 5 Volt, 6 Volt to 12 Volt, 24 Volt), by End User Industry (Telecommunications, Healthcare, Automotive electronics, Aerospace and defense, Industrial automation, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global surface mount reed relays industry generated $337.8 million in 2021, and is anticipated to generate $658.9 million by 2031, witnessing a CAGR of 6.9% from 2022 to 2031.  Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/54156 Prime Determinants of Growth The increasing adoption of automation technologies, growth in the renewable energy sector, and increase in demand for miniaturization for medical devices drive the growth of the global surface mount reed relays market. However, the low current ratings restrict the market growth. Moreover, an increase in the number of electric vehicle (EV) charging stations is expected to provide new opportunities in the coming years. Covid-19 Scenario
The 24 Volt Segment to Maintain its Leadership Status Throughout the Forecast Period Based on coil voltage, the 24 Volt segment held the highest market share in 2021, accounting for more than half of the global surface mount reed relays market, and is estimated to maintain its leadership status throughout the forecast period, due to the increasing demand for energy-efficient systems, the growing adoption of automation, the expansion of the industrial control systems market, and advancements in technology. However, the 3 Volt to 5 Volt segment is projected to manifest the highest CAGR of 8.16% from 2022 to 2031. With the increasing demand for compact and portable electronic devices, the need for smaller and more efficient components, such as surface mount reed relays, has also grown. The Telecommunication Segment to Maintain its Leadership Status Throughout the Forecast Period Based on end user industry, the telecommunication segment held the highest market share in 2021, accounting for more than one-thirds of the global surface mount reed relays market, and is estimated to maintain its leadership status throughout the forecast period. This segment is projected to manifest the highest CAGR of 8.28% from 2022 to 2031, driven by the increasing demand for reliable, compact, and energy-efficient switching solutions in telecommunication devices. The increasing popularity of wireless communication has created new opportunities for surface mount reed relays in telecommunication devices. Procure Complete Report (263 Pages PDF with Insights, harts, Tables, and Figures) @ https://bit.ly/3nglgpL Europe to Maintain its Dominance by 2031 Based on region, Europe held the highest market share in terms of revenue in 2021, accounting for nearly one-third of the global surface mount reed relays market, and is likely to dominate the market during the forecast period. This region is expected to witness the fastest CAGR of 7.71% from 2022 to 2031. The demand for high-speed switching and low power consumption in electronic devices and the automotive industry is a key driver for the growth of the surface mount reed relay market, as these relays are used in various automotive applications, such as lighting, power windows, and HVAC systems. The growing demand for electric vehicles and hybrid electric vehicles is expected to create new opportunities for the surface mount reed relay market, as these vehicles require advanced electronic systems. These factors will eventually make Europe as fastest growing and largest region for surface mount reed relay market during the forecast period. Leading Market Players: -
Want to Access the Statistical Data and Graphs, Key Players' Strategies: https://www.alliedmarketresearch.com/surface-mount-reed-relays-market/purchase-options Key Benefits For Stakeholders:
Surface Mount Reed Relays Market Key Segments: Coil Voltage
End User Industry
By Region
Buy this Research Report @ https://bit.ly/40rvi5E Trending Reports in Semiconductor Industry (Book Now with 10% Discount): Safety Relay Market Trends, Analytics and Statistics Industrial Safety Market Manufacturer, Report to 2031 High Frequency (RF) Relays Market Size, Share | Industry Trends Electromechanical Relay Market Insight and Trends 2031 GCC Protective Relay Market Size, Share | 2023 - 2031 About Us Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. Contact: David Correa Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
SOURCE Allied Market Research 
|
View original content: