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Speed Sensor Market Outlook 2021 - Industry Statistics Analysis by 2027

The global speed sensor market is estimated to grow steadily supported by robust product adoption in consumer electronics devices and smart home appliances. Integration of IoT technology into smart home items for remotely controlling the speed of several consumer electronics devices is likely to propel the demand for speed sensors. <br><br>Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/5020

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Speed Sensor Market Outlook 2021 - Industry Statistics Analysis by 2027

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  1. Speed Sensor Market is projected to reach at a CAGR 4.5% by 2027

  2. Key Insights from Speed Sensor Market: • The global speed sensor market is estimated to grow steadily supported by robust product adoption in consumer electronics devices and smart home appliances. Integration of IoT technology into smart home items for remotely controlling the speed of several consumer electronics devices is likely to propel the demand for speed sensors. • Speed sensors are extensively incorporated into high power rotating appliances like electric fans, washing machines, HVAC systems, and mixers for measuring the rotational speed of shafts, motors, and gears in devices. These sensors help device manufacturers to offer low-noise features, energy efficiency, as well as optimized system costs in smart home appliances. • Strict government rules that mandate ADAS systems in upcoming vehicles could drive speed sensor adoption. Speed sensors are integrated into ADAS systems including automatic emergency braking, adaptive cruise control, and electronic stability control.

  3. Continued… • The penetration of robotics and industrial automation across the manufacturing and process sectors is anticipated to provide high progress opportunities for speed sensor manufacturers. Moreover, technological advancements in Hall-based sensors like the Circular Vertical Hall or CVH technology which improves accuracy and linearity of speed sensors is fueling the industry expansion. • Several speed sensor market manufacturers are working on new product development. For example, in 2021, producer of IoT sensors, asset reliability and optimization, Petasense introduced the first industrial wired sensor which combines temperature, vibration and speed detection into a single sensor.

  4. Regional Insights in Speed Sensor Market: • Geographically speaking, the Europe speed sensor market is projected to register a CAGR of 4% owing to the presence of key automotive OEMs such as Daimler AG, Audi, PSA Group, and BMW Group. These companies are developing advanced automotive safety systems like ADAS and self-driving cars. Supportive investment schemes are also being set up by regional institutes to augment the region’s automotive sector.

  5. Latest Research Report On Speed Sensor Market @ https://www.gminsights.com/industry-analysis/speed-sensor-market Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/5020

  6. Major Companies in Speed Sensor Market: • 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

  7. Industry Coverage

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