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Speed Sensor Market Share

Report ID: GMI5020
Published Date: Mar 2021
Report Format: PDF

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Speed Sensor Market Share

Key companies operating in the market are :

SICK AG
Petasense
Allegro MicroSystems, Inc
Robert Bosch GmbH
NXP Semiconductors N.V
Infineon Technologies AG
Sensoronix, Inc
TE Connectivity, Inc
SPECTEC
Sensor Solutions Corporation

The industry participants are continuously focusing on R&D activities to develop technically advanced products than their competitors in the market.

Authors: Suraj Gujar

Frequently Asked Questions (FAQ) :

Speed sensor market size was valued at around USD 8.5 billion in 2020 and will register a CAGR of over 4.5% through 2027.

Hall effect segment had accounted for a market share of around 50% in 2020 and will witness a CAGR of 5% through 2027 owing to technological developments in hall-based speed sensors.

Automotive application segment had captured more than 50% of revenue share in 2020 and will record a CAGR of 5.5% through 2027 owing to the increasing adoption of ADAS in vehicle electronics systems.

Asia Pacific speed sensor market had held more than 35% of revenue share in 2020 and will register a CAGR of 5.5% through 2027 with supportive government initiatives, favoring the consumer electronics manufacturing industry in the region.