The industry analysis report titled ‘North America Speed Sensor Market Forecast 2027 By Application, By Type, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, North America speed sensor market is slated to record a considerable growth rate and amass a valuation of USD 3.5 billion by 2027.  

Growing demand for autonomous safety systems, incorporation of industrial robots across sectors as well as increasing focus towards improving production capacity are the major factors aiding the augmentation in North America speed sensor market.

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For the unversed, in the current scenario, stringent government regulations for passenger & vehicle safety across the region demand the implementation of speed sensors in brake control systems as they play a crucial role in detecting rotational speed in automobiles using non-contacting measurement technology. Hence, demand for higher automotive safety is boosting product adoption, thus adding to industry value.

For the sake of a comprehensive assessment, the speed sensor industry of North America is segregated in terms of type and application spectrum.

Considering type, the variable reluctance sensor segment is likely to witness a CAGR of 2.5% through 2027, owing to beneficial factors such as higher durability, cost-effectiveness, strong sensing capabilities in extreme climatic conditions, and rising product utilization as a proximity sensor in engine and transmission control, in congruence with effective integration in jet engines for measuring turbine speed.

Speaking of the application spectrum, the industrial sector is poised to generate massive revenues during the analysis timeframe, attributable to extensive incorporation of modern microcontrollers and wired or wireless connectivity with cloud servers, in
consort with usage of speed sensors in monitoring rotational and linear speeds of conveyor systems and assembly lines to minimize accidental fatalities and ensure safety of the workers.

Geographically, Canada speed sensor industry share is likely to witness a CAGR of 2.5% during 2021-2027, due to a surge in vehicle production as well as augmented product utilization across the industrial sector for detection & positioning of different objects.

The competitive framework of North America speed sensor market is influenced by key players such as ZF Friedrichshafen AG, Spec-Tec Group, Sensoronix Inc., Sensata Technologies Inc., Robert Bosch GmbH, Omni Instruments Ltd., NXP Semiconductors N.V., Motion Sensors Inc., Melexis Corporation, Infineon Technologies AG, Honeywell International Inc., HarcoSemco LLC, CTS Corporation, Crocus Technology, Continental AG, Compact Instruments Ltd., Allegro MicroSystems Inc., and Ai-Tek Instruments LLC.