The speed sensor global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Speed Sensor Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The speed sensor market size has grown strongly in recent years. It will grow from $9.11 billion in 2023 to $9.68 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to automotive industry growth, contactless sensing, traffic management, industrial automation, consumer electronics.
The speed sensor market size is expected to see strong growth in the next few years. It will grow to $12.09 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to autonomous vehicles, iot and smart cities, environmental regulations, emerging sensor technologies, rise of edge computing:. Major trends in the forecast period include wireless speed sensors, high-resolution sensors, smart cities integration, vibration-based sensors, technological advancements.
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Scope Of Speed Sensor Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Speed Sensor Market Overview
Market Drivers –
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.
The speed sensor market covered in this report is segmented –
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
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Regional Insights –
Asia-Pacific was the largest region in the speed sensor market in 2023. The regions covered in the speed sensor market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the speed sensor market include Sick AG, Petasense Inc., Allegro MicroSystems Inc., Robert Bosch GmbH, NXP Semiconductors NV, Continental AG, HELLA GmbH & Co. KGaA, ZF Friedrichshafen AG, DENSO CORPORATION, Hitachi Metals Ltd., Melexis NV, NTN Corp., WABCO India Ltd., Honeywell International Inc., Infineon Technologies AG, Sensata Technologies Inc., STMicroelectronics NV, Texas Instruments Incorporated, Ahlborn Meteorological Sensors, Proxitron GmbH, KELLER AG für Druckmesstechnik GmbH, Haris Sensor Technologies Pvt. Ltd., TE Connectivity Ltd., Honeywell Automation India Limited, Pepperl+Fuchs GmbH, Turck Inc., Baumer Group, Omron Corporation, Panasonic Corporation, IFM Electronic GmbH
Table of Contents
1. Executive Summary
2. Speed Sensor Market Report Structure
3. Speed Sensor Market Trends And Strategies
4. Speed Sensor Market – Macro Economic Scenario
5. Global Speed Sensor Market Size and Growth
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31. Global Speed Sensor Market Competitive Benchmarking
32. Global Speed Sensor Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Speed Sensor Market
34. Speed Sensor Market Future Outlook and Potential Analysis
35. Appendix
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