Global Speed Sensor Market Size, Share and Trends Analysis, By Type (Inductive Sensor [Monopolar and Bipolar] and Active Sensor), By Product Type (Wheel Speed Sensor, Speedometer, LIDAR, Ground Speed Radar, Doppler Radar, Pitot Tube, and Others), By Technology (Magneto-Resistive and Hall Effect), By Application (Powertrain, Safety & Control, Transmission, Turbocharger, Body electronics, Exhaust, and Others), By Industry Vertical (Automotive, Industrial, Aerospace & Defense, and Consumer Electronics), Forecast (2022-2028)

The global car inverter market is expected to grow at a CAGR of 4.5% during the forecast period Speed sensors allow for the measurement of magnetic rotation speed in order to provide voltage corresponding to rotation speed. This is an important component of many on-board systems, including screw conveyors, belt conveyors, and bucket elevators, as it detects speed changes by generating magnetic pulses in the form of waves proportional to the vehicle’s speed. Speed sensors are non-contact proximity sensors with analog and digital outputs that are typically mounted at the tailored drive of rotating equipment to measure actual speed. Speed sensors are widely used in automotive safety and entertainment services as they are energy-efficient and improve process reliability by allowing rotating equipment to be monitored at control panels through process programming. These sensors are simple to install wireless automotive sensors that are gaining popularity as they reduce the complexity of large volumes of cables and can collect and send technical data such as speed, fuel consumption, and default tire pressure value in real-time.

Furthermore, owing to its rugged nature, it can send real-time signals to indicate equipment malfunctions and can be used in hazardous environments. In the coming years, innovations and technological advancements leading to intellectual data communication of electronic systems are expected to drive significant growth in the global speed sensor market. Wireless sensing for automobiles is playing an increasingly important role in technological advancement. Increased adoption of anti-lock braking systems to ensure safety and security, as well as an increase in global automotive sales, are some of the factors driving the global speed sensor market growth. However, a scarcity of skilled labor for designing and maintaining speed sensors, as well as fierce competition among market players for innovative alternatives, are some of the factors impeding the growth of the global speed sensor market. Sensor aid in the accurate detection of collision warning and vehicle monitoring systems, making a significant impact on the automotive industry. The introduction of new products by major market players that incorporate the most up-to-date safety features and algorithmic performance makes the speed product line ideal for meeting all of the demanding requirements in today’s wheel speed applications. Allegro Microsystems, a global manufacturer of sensors integrated circuits, introduced the A19250 and A19350 wheel speed sensor integrated circuits in June 2019, which feature patent GMR technology and comply with government speed and direction protocols. These GMR-based integrated circuits come in a small single-in-line package with an integrated EMC protection capacitor, and they’re designed to work with magnet encoder rings to measure speed and direction. With low-level differential magnetic input signals and various sensing techniques, speed sensors can support high accuracy requirements while rejecting interfering common-mode magnetic fields. 

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Type
  • By Product Type
  • By Technology
  • By Application
  • By Industry Vertical
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- Aptiv plc, Continental AG, and Valeo S.A., among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

 

Global Speed Sensor Market by Segments

By Type

• Inductive Sensor
  • Monopolar
  • Bipolar
• Active Sensor

By Product Type

• Wheel Speed Sensor
• Speedometer
• LIDAR
• Ground Speed Radar
• Doppler Radar
• Pitot Tube
• Others

By Technology

• Magneto-Resistive
• Hall Effect

By Application

• Powertrain
• Safety & Control
• Transmission
• Turbocharger
• Body electronics
• Exhaust
• Others

By Industry Vertical

• Automotive
• Industrial
• Aerospace and Defense
• Consumer Electronics

Global Speed Sensor Market Report by Region

North America

• US
• Canada

Europe

• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe

Asia-Pacific

• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific

Rest of the World

• Latin America
• Middle-East and Africa