Automotive Speed Sensor Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2020-2024

The automotive speed sensor market size has the potential to grow by USD 119.55 million during 2020-2024, and the market's growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by application (passenger cars and commercial vehicles) and geography (APAC, Europe, North America, South America, and MEA). Also, the report analyzes the market's competitive landscape and offers information on several market vendors, including BorgWarner Inc., Continental AG, DENSO Corp., Hella GmbH & Co. KGaA, Infineon Technologies AG, NXP Semiconductors NV, Robert Bosch GmbH, TE Connectivity Ltd., Valeo SA, and ZF Friedrichshafen AG.

Market Overview

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Market Competitive Analysis

The market is fragmented owing to the presence of several international, regional, and local vendors. Key players in the market account for major market share by offering differentiated products. Stringent rules and regulations and adoption of autonomous vehicles will increase the competitiveness among the sensor manufacturers. These players are adopting technological advances to expand their product portfolio and geographical presence. BorgWarner Inc., Continental AG, and DENSO Corp. are some of the major market participants. Although the increased adoption of electronics in modern vehicles will offer immense growth opportunities, the low profitability for sensor suppliers may impact their working capital will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this automotive speed sensor market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market's competitive landscape and offers information on the products offered by various companies. Moreover, this automotive speed sensor market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

• BorgWarner Inc.
• Continental AG
• DENSO Corp.
• Hella GmbH & Co. KGaA
• Infineon Technologies AG
• NXP Semiconductors NV
• Robert Bosch GmbH
• TE Connectivity Ltd.
• Valeo SA
• ZF Friedrichshafen AG

Automotive Speed Sensor Market: Segmentation by Application

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Automotive speed sensors are an integral component for the functioning of the engine, transmission, ABS, and turbochargers in every vehicle. Therefore, the increasing demand for passenger cars will create a proportional growth opportunity for the global automotive speed sensor market.

Market growth in this segment will be slower than the growth of the market in the commercial segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive speed sensor market size.

Automotive Speed Sensor Market: Segmentation by Geography

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APAC was the largest automotive speed sensor market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as increasing adoption of passenger cars and commercial vehicles, stringent safety regulations, and high demand for automobiles equipped with safety features will significantly drive automotive speed sensor market growth in this region over the forecast period.

China, Japan, and India are the key markets for automotive speed sensors in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Automotive Speed Sensor Market: Key Drivers and Trends

Technological advancements and the increasing adoption of electronics by consumers will contribute to the integration of electronic components in the automotive segments. The new and improved features and safety services offered influence the demand for automotive sensors in the transmission speed sensor market. Microelectronics provide advanced features including safety and entertainment services with better energy-efficiency. Technavio's market research identifies the growth of electronics in automobiles to measure vehicle performance to be one of the primary growth factors for the automotive speed sensor market. Automotive sensors are pervasively used in several automotive applications such as detecting the temperature outside, sensing speed, and pressure.

Owing to the rapid technological advances, wireless automotive sensors are rapidly gaining prominence in the automotive segment. Wireless sensing for automotive is steadily implemented due to modification in technology. The wireless sensing system efficiently collects and informs the driver about various technical information related to speed, fuel consumption, and default tires pressure value. The wireless sensing system eases the installation of sensors by reducing the complexity and the weight and volume of cables. The emergence of wireless speed sensors is one of the key automotive speed sensor market trends that will gain traction during the forecast period.

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Automotive Speed Sensor Market: Key Highlights of the Report for 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive automotive speed sensor market growth during the next five years
• Precise estimation of the automotive speed sensor market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the automotive speed sensor market industry across APAC, Europe, North America, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of automotive speed sensor market vendors

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