Global Speed Sensor Market Report 2022
New York, Sept. 29, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the “Speed Sensor Global Market Report 2022” – https://www.reportlinker.com/p06323498/?utm_source=GNW
The global speed sensor market is expected to grow from $8.11 billion in 2021 to $8.58 billion in 2022 at a compound annual growth rate (CAGR) of 5.8%. The speed sensor market is expected to reach $10.81 billion in 2026 at a compound annual growth rate (CAGR) of 5.9%.
The speed sensor market consists of the sale of speed sensors by entities (organizations, sole proprietorships and partnerships) that are used to measure the rotational speed of the wheels of a vehicle. The speed sensor is an essential component for the operation of several on-board systems and allows the magnetic rotation speed to be measured in order to provide a voltage corresponding to the rotation speed.
The speed sensor detects the rotational speed of the gears in the transmission system. Then the sensor converts this measurement into an analog signal or a low voltage square wave signal and relays it to the electronic control units (ECU).
The major types of speed sensors market are inductive, monopolar, bipolar and active sensors. An inductive sensor refers to an electronic device capable of detecting ferrous metal targets without physical contact.
Speed sensor applications include position sensing, pulse counting, liquid and gas flow meters, coil applications, and other applications. Different end users of speed sensors include aerospace and defense, automotive, electronics, healthcare, industrial and telecommunications, and other end users.
Asia-Pacific was the largest region in the Speed Sensor Market in 2021. Regions covered in the Speed Sensor market report are Asia-Pacific, Western Europe, Eastern Europe East, North America, South America, the Middle East and Africa.
The Speed Sensors Market research report is one of a series of new reports that provide statistics on the Speed Sensors market, including the global Speed Sensors industry market size, regional shares, competitors holding Speed Sensors market share, detailed Speed Sensors market segments, market trends and opportunities. , and all the additional data you may need to thrive in the Speed Sensor industry. This Speed Sensors Market research report provides a comprehensive perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
An increase in vehicle production is expected to drive the speed sensor market in the future. Vehicle refers to any means in or by which someone will move or something has been transported or transported.
Vehicle speed sensors are traditionally mounted on the transmission or rear differential, where they monitor the rotational speed of the driveshaft. For example, in February 2022, according to India Brand Equity Foundation, a government export promotion agency based in India, the annual production of automobiles in India in FY21 was 22.65 million vehicles and 13 million of vehicles were produced between April and October 2021. Hence, the increase in vehicle production 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 industry are focusing on developing new product innovations to strengthen their position.
For example, in 2020, Robert Bosch LLC, a Germany-based engineering and technology company that includes speed sensors, introduced new wheel speed sensors along with other body electronics solutions for advanced systems. driving assistance. For approximately 230 ADAS and body electronics parts, this updated catalog provides better visibility, faster and more accurate information, and access to application data and photos.
In August 2021, Analog Devices Inc., a US-based sensor manufacturing company, acquired Maxim Integrated Products Inc. for an undisclosed amount. With this acquisition, Analog Devices aims to drive the next waves of innovation in analog semiconductors. Maxim Integrated Products, Inc. is a United States-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, the United Kingdom and the United States.
Read the full report: https://www.reportlinker.com/p06323498/?utm_source=GNW
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