Speed Sensor Market - Global Industry Analysis

Speed Sensor Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2026

Category: Technology & Media Report Format : PDF Report Code: ZMR-6085 Status : Upcoming

Description

Global Speed Sensor Market: Overview

Speed sensor permits the magnetic rotation speed to be calculated with a view to facilitate the voltage corresponding to the rotational speed. It is a crucial element used in several onboard systems like bucket elevators, belt conveyors, screw conveyors, and many others. It detects the variations in speed by producing a magnetic pulse in the wave's form that is proportional to the vehicle speed. Speed sensors are proximity-type sensors that are non-contacting with both wide-range analog, digital outputs, and typically attached at the tail of rotating machines to compute the actual speed.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Global Speed Sensor Market: Growth Factors

The high penetration of surveillance drones and unmanned aerial vehicles across the globe are the major reasons driving the growth of the global speed sensor market. The unmanned aerial vehicles and drones are fitted with speed sensors to achieve a uniform speed of rotation propellers and brushless DC Motors. The growing application of speed sensors in logistics, e-commerce, and construction sectors is bolstering the growth of the market globally. Speed sensors are incorporated in commercial UAVs for surveying, mapping, inspection, and delivery application. Moreover, speed sensors also facilitate contactless and wear-free measurement of multiple mechanical quantities like the angle of rotation and angular speed of targets like a shaft, gear, and similar mechanisms. The launch of new products by prominent players with distinct safety features and algorithmic performance to make the product unique and boost the demand in the market is also expected to fuel the growth of the market significantly during the forecast period.

Global Speed Sensor Market: Segmentation

The global speed sensor market can be segmented into type, sales channels, application, vehicle, and region.

By type, the market can be segmented into variable reluctance, magnetoresistive, hall effect, and others. The hall effect segment accounts for the largest share in the global speed sensor market due to the growing technological advancements in hall-based speed sensors like circular vertical hall technology. Moreover, it facilitates low insertion cases, a smaller sensor footprint, low cost, and improves sensor life cycle to the manufacturers. They also offer several inclusive features like contactless speed sensing with wide frequency bandwidth, precision accuracy, and high linearity. Further, the sensor possesses strong resistance against high-temperature environments and facilitates pre-programmability features that are a perfect fit for aeronautics and industrial application.

By application, the market can be segmented into telematics, consumer electronics, aerospace & defense, aerospace & defense, industrial, automotive, and others. The automotive segment holds the largest share in the global speed sensor market due to the growing demand for advanced vehicles all across the globe. Moreover, the rapidly growing automotive sector is likely to propel the growth of the segment vigorously during the forecast period. The emergence of an advanced driver assistance system further boosts the demand for speed sensors. Speed sensors are widely used in ADAS components like lane departure warning systems, forward collision warning, adaptive cruise control (ACC), automatic emergency braking (AEB), electronic stability control (ESC), and many others.

Global Speed Sensor Market: Regional analysis

Asia Pacific accounts for the largest share in the global speed sensor market due to the favorable government initiatives along with the growing consumer electronics sector in the region. Moreover, the growing funding from the government for the development of the domestic consumer electronics sector is likely to boost the growth of the regional market during the forecast period.

North America is anticipated to grow significantly during the forecast period due to the growing demand for advanced driver assistance systems in the region. Moreover, the fast proliferating automatic sector in the region is also fuelling the growth of the regional market.

Global Speed Sensor Market: Competitive Player

Some of the significant players in the global speed sensor market are Sensor Solutions Corporation, SPECTEC, TE Connectivity, Inc., Sensoronix, Inc., Infineon Technologies AG, NXP Semiconductors N.V., Robert Bosch GmbH, Allegro MicroSystems, Inc., Petasense, and SICK AG.

Global Speed Sensor Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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FrequentlyAsked Questions

The high penetration of surveillance drones and unmanned aerial vehicles across the globe are the major reasons driving the growth of the global speed sensor market. The unmanned aerial vehicles and drones are fitted with speed sensors to achieve a uniform speed of rotation propellers and brushless DC Motors.

Some of the significant players in the global speed sensor market are Sensor Solutions Corporation, SPECTEC, TE Connectivity, Inc., Sensoronix, Inc., Infineon Technologies AG, NXP Semiconductors N.V., Robert Bosch GmbH, Allegro MicroSystems, Inc., Petasense, and SICK AG.

Asia- pacific Pacific accounts for the largest share in the global speed sensor market due to the favorable government initiatives along with the growing consumer electronics sector in the region. Moreover, the growing funding from the government for the development of the domestic consumer electronics sector is likely to boost the growth of the regional market during the forecast period.

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