Reed Relay Market

COVID-19 Impact Analysis

• The COVID-19 pandemic impacted the reed relay market and caused a decline in the market growth.
• The supply chain was hampered and the availability of raw material declined due to restriction on movement of material. This impacted the production activities of reed relay and caused a decline in market growth.
• Industries were shut down due to the lockdown restriction to prevent the spread of virus. This hampered the market growth for reed relay during the pandemic period.
• The economy of countries faced a slump due to the pandemic and no new investment and development were done in the reed relay market.
• The demand for reed relay from the electronic instrumentation industries declined as the pandemic forced industries to initially shut down and when they resumed, the production did not run at optimum capacity.
• The personal income of individuals declined due to the lockdown, which caused a change in the buying behavior of customers.
• The lockdown upliftment and the increase in demand for the reed relay causes the market to grow once again. 

Top Impacting Factors

The reed relay market is driven by an increase in the use of reed relays for effective passive safety systems, as well as the increase in demand from end users for use in low-temperature environments and benefits of low operating power. The use of reed sensors in home appliances, HVAC, and smart metres is growing rapidly. The adoption of the Internet of Things, as well as the rise in urbanization and industrialization, have a beneficial impact on the reed relay market. The larger size of the reed relay, as well as quality difficulties and the reed relay's inability to switch more power, are factors that limit market expansion. Furthermore, the rise in demand for low-power reed switches provides attractive potential for reed switch manufacturers. The reed relay is undergoing R&D and the usage of reed sensors in developing technologies is expected to present growth opportunities for the market in the future.

Market Trends

• On February 20, 2021, Littelfuse announced an enlarged reed relay product portfolio that includes AC voltage ratings, supports AC or DC loads up to 300 VDC, and has a 2,500 VRMS input/output isolation voltage. Single-in-line (SIL) and dual-in-line (DIL) packages are available for these small reed relays. Reed relays switch loads with a voltage separation of up to 2,500 V between the low-voltage control signal and the load circuit. Reed relays are hermetically sealed micro relays with full galvanic (zero leakage current) load disconnect that provide the high reliability required for switching AC/DC signals and loads in demanding environments.
• On 13th July 2021, Teledyne Relays unveils four new reed relay families for high-reliability applications. New product families are designed for high-voltage, high-isolation, and increased EMI shielding applications. They all have an extraordinarily long life of up to 1 billion cycles, making them excellent for applications requiring high reliability. Teledyne's new products offer among of the quickest switching times, maximum vibration resistance, and widest working temperature ranges on the market. 
• Pickering Electronics announced the development of a small high voltage relay for use in an ON Semiconductor-designed test rig. Due to its small size, high isolation resistance, hermetically sealed contacts, short operating time, and long-life expectancy, reed relays are often the optimum answer in switching systems for test and measurement applications. 

Key Benefits of Report

• This study presents the analytical depiction of the reed relay market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the reed relay market share.
• The current market is quantitatively analyzed to highlight the reed relay market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed reed relay market analysis based on competitive intensity and how the competition will take shape in the coming years.