Speed Sensor Global Market Report 2023: Sector to Reach $12.53 Billion by 2027 at a 7.4% CAGR - ResearchAndMarkets.com

The "Speed Sensor Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.

The global speed sensor market grew from $8.72 billion in 2022 to $9.41 billion in 2023 at a compound annual growth rate (CAGR) of 7.9%. The speed sensor market is expected to grow to $12.53 billion in 2027 at a CAGR of 7.4%.

Asia-Pacific was the largest region in the speed sensor market in 2022. The regions covered in the speed sensor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

An increase in the production of vehicles is expected to drive the speed sensor market going forward. Vehicle refers to any means in or by which someone will travel or something has been carried or conveyed. Vehicle speed sensors have been traditionally mounted on the transmission or rear differential, where they monitored the rotation speed of the drive shaft.

For instance, in February 2022, according to India Brand Equity Foundation, an India-based government export promotion agency, India's annual production of automobiles in FY21 was 22.65 million vehicles, and 13 million vehicles were produced between April-October 2021. Therefore, the increase in the production of vehicles is driving the growth of the speed sensor market.

New product innovation is the key trend gaining popularity in the speed sensor market. Major companies operating in the speed sensor sector are focused on developing new product innovations to strengthen their position.

For instance, in 2020, Robert Bosch LLC, a Germany-based engineering and technology company that includes speed sensors introduced new wheel speed sensors as well as other body electronics solutions for advanced driver-assistance systems. For approximately 230 ADAS and body electronics parts, this updated catalog provides improved visibility, faster and more accurate information, and access to application data and photos.

In August 2021, Analog Devices Inc., a USA-based sensor manufacturing company, acquired Maxim Integrated Products Inc. for an undisclosed amount. Through this acquisition, Analog Devices aims to drive the next waves of analog semiconductor innovation. Maxim Integrated Products, Inc. is a US-based semiconductor manufacturing company that includes speed sensors.

The countries covered in the speed sensor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

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Scope

Markets Covered

1) By Type: Inductive Sensor; Monopolar; Bipolar; Active Sensor

2) By Application: Position Sensing; Pulse Counting; Liquid and Gas Flow Meters; Speedometers; Coil Applications; Other Applications

3) By End User: Aerospace and Defense; Automotive; Electronics; Healthcare; Industrial IT and Telecom; Other End-Users

Key Topics Covered:

1. Executive Summary

2. Speed Sensor Market Characteristics

3. Speed Sensor Market Trends And Strategies

4. Speed Sensor Market - Macro Economic Scenario

5. Speed Sensor Market Size And Growth

6. Speed Sensor Market Segmentation

7. Speed Sensor Market Regional And Country Analysis

8. Asia-Pacific Speed Sensor Market

9. China Speed Sensor Market

10. India Speed Sensor Market

11. Japan Speed Sensor Market

12. Australia Speed Sensor Market

13. Indonesia Speed Sensor Market

14. South Korea Speed Sensor Market

15. Western Europe Speed Sensor Market

16. UK Speed Sensor Market

17. Germany Speed Sensor Market

18. France Speed Sensor Market

19. Eastern Europe Speed Sensor Market

20. Russia Speed Sensor Market

21. North America Speed Sensor Market

22. USA Speed Sensor Market

23. South America Speed Sensor Market

24. Brazil Speed Sensor Market

25. Middle East Speed Sensor Market

26. Africa Speed Sensor Market

27. Speed Sensor Market Competitive Landscape And Company Profiles

28. Key Mergers And Acquisitions In The Speed Sensor Market

29. Speed Sensor Market Future Outlook and Potential Analysis

30. Appendix

A selection of companies mentioned in this report includes

• Sick AG
• Petasense Inc
• Allegro MicroSystems, Inc
• Robert Bosch GmbH
• NXP Semiconductors NV

For more information about this report visit https://www.researchandmarkets.com/r/wb6axz

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