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Speed Sensor Market By Type (Inductive Sensor [Monopolar and Bipolar] and Active Sensor), Product Type (Wheel Speed Sensor, Speedometer, LIDAR, Ground Speed Radar, Doppler Radar, Pitot Tube, and others), Technology (Magneto-Resistive and Hall Effect), Application (Powertrain, Safety & Control, Transmission, Turbocharger, Body electronics, Exhaust, and others), and Industry Vertical (Automotive and Transportation): Global Opportunity Analysis and Industry Forecast, 2020-2027

A08559
Pages: NA
Jun 2021 | 471 Views
 
Author(s) : NA
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Charts: NA
 

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Speed Sensor Market Outlook - 2027

Speed sensors allow the magnetic rotation speed to be measured with a view to provide voltage corresponding to rotation speed. This is an essential equipment of several on-board systems such as screw conveyors, belt conveyors, and bucket elevators as it detects speed changes by generating magnetic pulse in the form of waves, proportional to the speed of a vehicle. Speed sensors are non-contacting, proximity type sensors with both wide range analog and digital outputs and are typically mounted at tail or drive of rotating equipment to measure actual speed. 

Safety and entertainment services in automotive make wide use of speed sensors as it is energy-efficient and improves process reliability by allowing rotating equipment to be monitored at control panels through process programming. These sensors are easily installable wireless automotive sensors and are gaining wide prominence as they reduce complexity of large volume of cables and can collect and send technical information related to speed, fuel consumption, default tires pressure value in real-time. 

In addition it can send real-time signals to indicate equipment malfunctions and can be used in hazardous environment owing to rugged nature. Innovations and technological advancements leading to intellectual data communication of electronic systems are expected to lead to a considerable speed sensor market growth in the coming years. 

Market Scope and Structure Analysis:

Report Metric

Details

  Market size available for years

  2019-2027

  Base year considered

  2019

  Forecast Period

  2021-2027

  Forecast Unit

  Value(USD)

  Segments Covered

Type, Product type, Technology, Application, Industry Vertical, Region

  Geography Covered

North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Russia, and rest of Europe), Asia Pacific (India, Japan, China, and rest of Asia Pacific) and LAMEA (Latin America, Middle East, and Africa)

  Companies Covered

Robert Bosch GmBH, Sensata Technologies Inc., Honeywell Technology Solutions, Continental AG, Ford Corp., General Electric, Infineon Technologies AG, Omron, Denso Corp., Delphi Automotive, Analog Devices Inc. and Others

 

COVID-19 Scenario Analysis:

  • The ongoing COVID-19 pandemic is unsettling for people as well as organizations and business firms worldwide. With the shutdown of manufacturing operations and travel & transportation ban worldwide, the demand for speed sensors has plunged. However, the exact measure of the scale and scope of challenge cannot be anticipated.
  • Shutdowns globally have led to manufacturing halt of vehicles including aircrafts, which has caused subsequent impact on the overall market scenario of speed sensors. 
  • The transportation sector being shutdown has highly decreased the demand for the automotive sensor market.

Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

Wireless sensing for automotive is increasingly contributing to the modification in technology. Surge in global automotive sales, growth of implementation of electronics in automobiles to measure vehicle performance, and increase in adoption of anti-lock braking system to ensure safety and security, owing to increase in number of motorway vehicles are some factors that drive the speed sensor market growth. However, lack of skilled workforce needed for designing and maintaining speed sensors and intense competition among market players regarding innovative alternatives are some factors that stand as obstacles to speed sensor market share. Contrarily sensors also help in effective detection of collision warning and monitoring system of vehicles providing a prominent mark on the automotive industry. Latest innovations have led to the development of low power and high accuracy speed sensors, which present new pathways in the speed sensor industry.

New product launches to flourish the market

Launch of new products by key market players incorporating latest safety features and algorithmic performance makes speed product line ideal for meeting all demanding requirements in present wheel speed applications.

In June 2019, Allegro Microsystems, a global manufacturer of sensi=or integrated circuits launched A19250 and A19350 wheel speed sensor integrated circuit, featuring patent GMR technology and covers stringent speed and direction protocols by governments. These GMR-based integrated circuits are offered in small single-in-line package with an integrated EMC protection capacitor and are designed for use in conjunction with magnet encoder rings to measure speed and direction information. Speed sensors can support high accuracy requirements with low-level differential magnetic input signals and are combined with various sensing techniques offering rejection of interfering common-mode magnetic fields.

Surge in use in automotive and industrial applications 

Key speed sensor market players and manufacturers have determined how improved accuracy and ensuring of safety systems can be influential in many applications. Speed sensors are highly praised in the automotive and defence sectors.

Hall-effect based wheel speed sensors have helped move braking system technologies from standard anti-lock braking capabilities to traction control and full stability control of vehicles. This helps in park-assistance and collision avoidance and provides valuable data back to the driver assistance system allowing it to decide the best got a vehicle. This technology helps to automate entire driving process.

In December 2019, Minda Industries, an Indiabased auto component supplier, entered into wheel speed sensor business with Sensata Technologies, a China-based supplier of sensing, electrical protection, control, and power management solution. The speed sensor business being in high demand, Minda Industries invested Rs 45.21 crore for purchase of certain machinery of speed sensors. 

Key Segments Covered:

Segments

Sub-segments

  Type

  • Inductive sensor
  • Monopolar
  • Bipolar
  • Active Sensor

  Product type

  • Wheel Speed Sensor
  • Speedometer
  • LIDAR
  • Ground speed radar
  • Doppler radar
  • Pitot tube

  Application

  • Powertrain
  • Safety and control
  • Transmission
  • Turbocharger
  • Body electronics
  • Exhaust
  • others

  Technology

  • Magneto-resistive
  • Hall effect

 

Key benefits of the stakeholders:

  • The study gives an analytical overview of speed sensor market with current trends and future estimations to determine imminent investment pockets.
  • The report analyses information related to key drivers, restraints, and opportunities along with detailed speed sensor market analysis.
  • The speed sensor market trends are quantitatively analysed from 2020 to 2027.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 

Questions answered in the Speed Sensor Market research report:

  • Who are the leading players in the speed sensor market?
  • What are the current trends that would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps?
  • What would be the detailed impact of COVID-19 on the market?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
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  • Sovereign research proceeds that present a tangible depiction of marketplace


With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, web-casts and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


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Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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