Press release
Automotive Wheel Speed Sensor Market Growth with Worldwide Industry Analysis to 2025
An automotive wheel speed sensor plays a prominent role in day-to-day operations of several wheel on-board systems. The main function of the sensor is to measure the speed of the wheel on tooted wheel or the magnetic encoder seal positioned on the bearing. The recent advancements achieved in technologies in vehicles has enabled the use of automotive speed sensors for transmitting data to various systems which are responsible for controlling various vehicle dynamics as well as an extensive range of supplementary purposes.
Automotive wheel speed sensors are also referred to as ABS speed sensors as they observe the speed of a vehicle from its tone wheel. An automotive speed sensor transmits speed readings to an Electronic Control Unit (ECU) which takes appropriate decisions regarding break pressure adjustments during critical situations.
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Ensuring driver and road safety is one of the prominent challenges at present and it is estimated to stay a challenge in future as well. One of the main reasons for several road accidents is the slow reaction of the driver while responding to accidental situation while driving at a higher speed. High-tech automotive wireless electronics is capable of automating many driving features which reduce significant human errors and improve vehicle safety. The Automotive wheel speed sensor has been one of the key developments in this area and is a step forward in increasing driving comfort, automating driving and ensuring crash prevention. Automotive wheel speed sensors are used to enhance various driving features which give better control to drivers in hazardous accidental situations by warning the driver, especially in case of over speeding. Automotive wheel speed sensors find various applications in systems, such as for warning and mitigation, vulnerable road user detection, lane change assistance and rear cross-traffic alerts. They are also used in lane departure warning systems. Driver assistance systems which are equipped with wheel speed sensors are already in great demand in many passenger vehicles in the global market.
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Automotive Wheel Speed Sensor market: Dynamics
Some of the prominent factors influencing growth of the automotive wheel speed sensor market are increasing vehicle production globally and need for enhancement of safety features. The demand for automotive wheel speed sensors in the global market is estimated to grow with an incremental rate in the coming years. Owing to the increased number of road accidents globally, prominent emphasis is being laid on improving road safety regulations and creating laws to make automobiles safer for driving. This, in turn, is driving the increasing consumption of automotive monitoring devices and consequently, increasing the demand for automotive wheel speed sensors in the global market. These sensors do not only help in automating vehicles but also help in effective detection of collision warning and monitoring systems. Latest innovations and developments in the global market have led to the introduction of receptor isolation and signal synthesis methods, which in-turn, will drive the growth of low power and high accuracy automotive wheel speed sensors in the market. The key market participants in the global market are also coming up with solutions, such as SOC (system on chip), which come equipped with multiple sensors on board owing to the rising trend of reducing the size of automobile components. The Anti-lock braking system is expected to hold a prominent market share in terms of value and volume and is estimated to propel the demand for the global automotive wheel speed sensor market, owing to the stringent rules and regulation imposed to reduce road accidents. The growth of automotive wheel speed sensors is directly proportional to global vehicle production.
The most protuberant factors increasing the growth of automotive wheel speed sensor in the global market include production of advanced technology in automobiles and clean transportation. Rules and regulations enforced by ruling authorities and governments to ensure vehicle safety as well as safety of the environment will encourage manufacturers to produce environment-friendly and efficient vehicles. This will successively result in an increase in demand for automotive wheel speed sensors in the global market. The escalating cost of speed sensors and its corresponding technology as well as changing prices are two of the key restraints contradicting the growth of the global automotive wheel speed sensor market.
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Automotive Wheel Speed Sensor market: Market Participants
Examples of some of the market participants in the global Automotive Wheel Speed Sensor market are:
Robert Bosch GmbH
Continental AG
WABCO
Denso Corporation
ZF Friedrichshafen AG
NTN-SNR
Melexis
HELLA KGaA
Delphi Automotive PLC
NXP Semiconductors N.V
InnoSenT
First Sensor AG
Hitachi Metal
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