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North America Speed Sensor Market Forecast 2027 By Application (Automotive, Industrial, Aerospace & Defense, Consumer Electronics), By Type (Hall Effect, Magneto Resistive, Variable Reluctance), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share
Published Date: November 2021 | Publisher: Graphical Research Report ID: GR2018 | Delivery : PDF  Request Free Sample

North America Speed Sensor Market size exceeded USD 2.5 billion in 2020 and is expected to witness 4.5% CAGR from 2021 to 2027. The market growth is driven by the rising adoption of advanced safety systems such as automated braking system, cruise control, electronic stability control, etc., to manage road safety.

North America Speed Sensor Market Report, By Region

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Speed sensors measure and control the acceleration and wheel rotation speed, thereby increasing their demand in various autonomous safety systems. Active wheel speed sensors are also witnessing high adoption in brake control systems to detect the rotational speed of vehicles through the non-contacting measurement technology. Several companies are engaged in developing innovative speed sensors to address the rising safety demand in the automotive sector.

North America Market, By Type

The variable reluctance segment will observe around 2.5% growth rate during the forecast period, led by the rising integration of speed sensors in jet engines for turbine speed measurement application. Variable reluctance sensors offer several benefits such as high durability, low cost, and robust speed sensing in high temperature environments. It is majorly used as a proximity speed sensor for engine control unit and transmission control unit in automotive applications.

North America Market, By Country

The U.S. speed sensor market is set to expand at a CAGR of 5% through 2027. This growth can be attributed to rising federal government investments in the development of armed drones to enhance its military and defense forces.

For instance, in May 2021, the Department of Defense (DOD) received a budget allocation of USD 7.5 billion from the U.S. government. This funding is used for R&D on combat drones, Unmanned Aerial Vehicles (UAV), and unmanned surveillance systems. Speed sensors are installed in UAVs and drones to ensure that propellers and brushless DC motors rotate uniformly while maintaining control over flying speed.

Competitive Industry Landscape

Key players involved in the market include Honeywell International Inc, Infineon Technologies AG, NXP Semiconductors, and CTS Corporation, among others. These companies are focusing on new product developments and innovative solutions to gain a competitive edge in the market.
 

Frequently Asked Question(FAQ) :

The industry size for speed sensor in North America had crossed USD 2.5 billion in 2020 and could observe a CAGR of more than 4.5% up to 2027 owing to the growing adoption of automated braking systems, electronic stability, and cruise control for managing road safety.
Speed sensors are devices widely used in various autonomous safety systems to measure and control the acceleration and wheel rotation speed.
The market share for variable reluctance speed sensor in North America is anticipated to showcase a 2.5% growth rate through 2027 owing to their increasing integration in jet engines for turbine speed measurement.
The industry share for speed sensor in the U.S. is expected to rise at a CAGR of around 5% up to 2027 owing to the surge in federal government investments for the development of armed drones in order to enhance its military and defense forces.

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