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Speed Sensor Market

Speed Sensor Market Size, Share & Segment By Type (Inductive Sensor, Bipolar, Monopolar, Active Sensor) By Product (Wheel Speed Sensor, Ground Speed Radar, Pitot Tube, Speedometer, LIDAR, Doppler Radar) By Technology (Magneto Resistive, Variable Reluctance, Hall Effect) By Application (Automotive, Aerospace & Defense, Industrial, Consumer Electronics), By Regions And Global Forecast 2022-2028

Report Id: SNS/SEMI/2267 | July 2022 | Region: Global | 131 Pages

Report Scope & Overview:

Speed Sensor Market Size was valued at USD 8.8 billion in 2021, and expected to reach USD 12 billion by 2028, and grow at a CAGR of 4.5% over the forecast period 2022-2028.

Speed sensors measure magnetic rotation speed in order to provide voltage corresponding to rotation speed. This is a necessary component of several on-board systems such as screw conveyors, belt conveyors, and bucket elevators because it detects speed changes by generating magnetic pulses in the form of waves proportional to a vehicle's speed. Speed sensors are non-contact, proximity sensors with wide-range analogue and digital outputs that are typically mounted at the tail or drive of rotating equipment to measure actual speed.

Speed Sensor Market Revenue Graph

Speed sensors are widely used in automotive safety and entertainment services because they are energy-efficient and improve process reliability by allowing rotating equipment to be monitored at control panels via process programming. These sensors are easily installable wireless automotive sensors that are gaining popularity because they reduce the complexity of large volumes of cables and can collect and transmit technical data such as speed, fuel consumption, and tire pressure in real-time.

MARKET DYNAMICS:

KEY DRIVERS:

  • Electronics are in high demand in the automotive industry.

  • Anti-Lock Braking System Adoption is Growing.

RESTRAINTS:

  • Inadequate Skilled Labor.

  • Sensor construction complexities

OPPORTUNITIES:

  • The development of low-power, high-accuracy speed sensors.

CHALLENGES: 

  • This will be covered under the final version of the report.

IMPACT OF COVID-19: 

People, organizations, and businesses all over the world are concerned about the ongoing COVID-19 pandemic. With the shutdown of manufacturing operations and the worldwide travel and transportation ban, the demand for speed sensors has plummeted. However, the precise magnitude and scope of the challenge cannot be predicted. Shutdowns around the world have caused a halt in the production of vehicles, including aircraft, which has had an impact on the overall market scenario for speed sensors. The shutdown of the transportation sector has significantly reduced demand for automotive sensors.

The COVID-19 has also had an impact on the global speed sensor market. Because of the supply shortage and low fabrication efficiency, the shelf life of raw materials is increasing, which raises raw material pricing. Distribution challenges include warehouse staffing, the need for direct distribution, and the intelligent and responsive allocation of goods across various distribution channels. Furthermore, increased use of electronic components in modern manufacturing is affecting the consumer market as a result of production unit shutdowns.

Based on Type, the speed sensor market is segmented into Inductive sensor, Bipolar, Monopolar and Active Sensor.

Based on Product, the speed sensor market is segmented into Wheel Speed Sensor, Ground speed radar, Pitot tube, Speedometer, LIDAR and Doppler radar.

Based on Technology, the speed sensor market is segmented into Magneto Resistive, Variable Reluctance and Hall Effect. The market share was dominated by the hall effect segment. The advancement of technology in hall-based speed sensors, such as Circular Vertical Hall (CVH) technology. The advancement will assist sensor manufacturers in providing low insertion losses, lower costs, a smaller sensor footprint, and a longer sensor lifecycle. The hall-based speed sensor has a number of user-friendly features, including contactless speed sensing with high linearity, precision accuracy, and a wide frequency bandwidth. These speed sensors can withstand high temperatures and have pre-programmability features that make them ideal for industrial and aeronautical applications. To gain a competitive advantage in the market, market participants are proactively focusing on development and new innovations in hall-based sensing components and ICs.

Based on Application, the speed sensor market is segmented into Automotive, Aerospace & Defense, Industrial and Consumer Electronics. The automotive application is responsible for the increasing use of ADAS in vehicle electronics systems. The speed sensor is used in a variety of ADAS components, including electronic stability control (ESC), automatic emergency braking (AEB), adaptive cruise control (ACC), forward collision warning, and lane departure warning systems. Stringent government regulations requiring the inclusion of ADAS systems in new vehicles have resulted in market expansion.

COMPETITIVE LANDSCAPE:

The key players in the speed sensor market are Robert Bosch, Honeywell Technology Solutions, General Electric, Omron, Delphi Automotive, Sensata Technologies, Continental, Ford, Infineon Technologies, Denso and Analog Devices.

MARKET SEGMENTATION:

BY TYPE

  • Inductive sensor

  • Bipolar

  • Monopolar

  • Active Sensor

BY PRODUCT

  • Wheel Speed Sensor

  • Ground speed radar

  • Pitot tube

  • Speedometer

  • LIDAR

  • Doppler radar

BY TECHNOLOGY

  • Magneto Resistive

  • Variable Reluctance

  • Hall Effect

BY APPLICATION

  • Automotive

  • Aerospace & Defense

  • Industrial

  • Consumer Electronics

Speed Sensor Market Segment Pie Chart

REGIONAL ANALYSIS:

The global speed sensor market has been divided into five regions: North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. Because of the increasing adoption of speed sensors in consumer electronics products, vehicles, and the defence sector in countries such as the United States, Canada, and Mexico, North America is expected to be the dominant regional market. Furthermore, the increasing use of IoT devices and communication networks in industries is expected to drive market demand.

The Asia Pacific region is expected to grow at a rapid pace during the forecast period, owing to the region's expanding industrial sector and growing presence of small and medium-sized enterprises (SMEs). The European Speed Sensor market is expected to grow significantly due to rising automotive, aeronautics, and industrial automation in the United Kingdom, France, Germany, and other countries. Sensor adoption for industrial automation, speed motoring, and security applications is expected to have an impact on the Middle East and Africa, as well as South America.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

 

Speed Sensor Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 8.8 Billion
Market Size by 2028 US$ 12 Billion
CAGR CAGR of 4.5% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Type (Inductive Sensor, Bipolar, Monopolar, Active Sensor)
• By Product (Wheel Speed Sensor, Ground Speed Radar, Pitot Tube, Speedometer, LIDAR, Doppler Radar)
• By Technology (Magneto Resistive, Variable Reluctance, Hall Effect)
• By Application (Automotive, Aerospace & Defense, Industrial, Consumer Electronics)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Robert Bosch, Honeywell Technology Solutions, General Electric, Omron, Delphi Automotive, Sensata Technologies, Continental, Ford, Infineon Technologies, Denso and Analog Devices.
Key Drivers • Electronics are in high demand in the automotive industry.
• Anti-Lock Braking System Adoption is Growing.
Restraints • Inadequate Skilled Labor.
• Sensor construction complexities


Frequently Asked Questions (FAQ) :

The Speed Sensor Market size was valued at 8.8 billion in 2021 at a CAGR of 4.5%.

The market value is expected to reach USD 12 billion by 2028.

Top-down research, bottom-up research, qualitative research, quantitative research, and Fundamental research.

The market has been segmented with respect to type, technology, product and application.

Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of Ukraine-Russia War

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

  

8. Speed Sensor Market Segmentation, by solution type

8.1Introduction

8.2 Inductive sensor

8.3 Bipolar

8.4 Monopolar

8.5 Active Sensor

 

9. Speed Sensor Market Segmentation, by product

9.1Introduction

9.2 Wheel Speed Sensor

9.3 Ground speed radar

9.4 Pitot tube

9.5 Speedometer

9.6 LIDAR

9.7 Doppler radar

 

10. Speed Sensor Market Segmentation, by technology

10.1 Introduction

10.2 Magneto Resistive

10.3 Variable Reluctance

10.4 Hall Effect

 

11. Speed Sensor Market Segmentation, by application

11.1 Introduction

11.2 Automotive

11.3 Aerospace & Defense

11.4 Industrial

11.5 Consumer Electronics

 

12. Regional Analysis

12.1 Introduction

12.2 North America

12.2.1 USA

12.2.2 Canada

12.2.3 Mexico

12.3 Europe

12.3.1 Germany

12.3.2 UK

12.3.3 France

12.3.4 Italy

12.3.5 Spain

12.3.6 The Netherlands

12.3.7 Rest of Europe

12.4 Asia-Pacific

12.4.1 Japan

12.4.2 South Korea

12.4.3 China

12.4.4 India

12.4.5 Australia

12.4.6 Rest of Asia-Pacific

12.5 The Middle East & Africa

12.5.1 Israel

12.5.2 UAE

12.5.3 South Africa

12.5.4 Rest

12.6 Latin America

12.6.1 Brazil

12.6.2 Argentina

12.6.3 Rest of Latin America

 

13.Company Profiles

13.1 Honeywell Technology Solutions

13.1.1 Financial

13.1.2 Products/ Services Offered

13.1.3 SWOT Analysis

13.1.4 The SNS view

13.2 Robert Bosch

13.3 General Electric

13.4 Omron

13.5 Delphi Automotive

13.6 Sensata Technologies

13.7 Continental

13.8 Ford

13.9 Infineon Technologies

13.10 Denso

13.11 Analog Devices

 

14.Competitive Landscape

14.1 Competitive Benchmark

14.2 Market Share analysis

14.3 Recent Developments

 

15.Conclusion

 

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Secondary Research

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