Global Automotive Speed Sensor Market 2020-2024

Global Automotive Speed Sensor Market 2020-2024

Technavio has been monitoring the automotive speed sensor market and it is poised to grow by $ 119.55 mn during 2020-2024, progressing at a CAGR of 1% during the forecast period. Our reports on the automotive speed sensor market provide a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the increased adoption of electronics in modern vehicles, the use of automatic transmission vehicles, and the rapid adoption of safety functions in vehicles. In addition, increased adoption of electronics in modern vehicles is anticipated to boost the growth of the market as well.

The automotive speed sensor market analysis includes application segment and geographical landscapes.

Technavio's automotive speed sensor market is segmented as below:

By Application

• Passenger cars
• Commercial vehicles

By Geographical Landscapes

• APAC
• Europe
• North America
• South America
• MEA

This study identifies the growing demand for turbocharger speed sensors as one of the prime reasons driving the automotive speed sensor market growth during the next few years. Also, modularization of design to optimize speed sensors and development toward wireless speed sensors will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the automotive speed sensor market covers the following areas:

• Automotive speed sensor market sizing
• Automotive speed sensor market forecast
• Automotive speed sensor market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive speed sensor market vendors that include 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. Also, the automotive speed sensor market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.