Automotive Reed Sensors Market Insights Video

According to Cognitive Market Research, the global Automotive Reed Sensors Market size is USD 102.5 million in 2023 and will expand at a compound annual growth rate (CAGR) of 5.00% from 2023 to 2030.

• North America held the major market of more than 30% of the global revenue with a market size of USD 30.75 million in 2023. It will grow at a compound annual growth rate (CAGR) of 3.2% from 2023 to 2030
• Europe Automotive Reed Sensors is projected to expand at a compound annual growth rate (CAGR) of 3.5% from 2023 to 2030, Europe accounted for a share of over 26% of the global market size of USD 26.65 million
• Asia Pacific held a market of more than 36% of the global revenue with a market size of USD 36.90 million in 2023 and will grow at a compound annual growth rate (CAGR) of 7.0% from 2023 to 2030
• Latin America market has more than 5% of the global revenue with a market size of USD 5.13 million in 2023 and will grow at a compound annual growth rate (CAGR) of 4.4% from 2023 to 2030
• Middle East and Africa held the major market of more than 3% of the global revenue with a market size of USD 3.07 million in 2023 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2023 to 2030
• The demand for Automotive Reed Sensors is rising due to the numerous strategies adopted by key participants.
• Demand for electric vehicles remains higher in the Automotive Reed Sensors Market.
• The passenger cars category held the highest Automotive Reed Sensors Market revenue share in 2023.