Industry Background:
Vehicle speed sensors (VSS) is a kind of tachometer which is used to measure speed of vehicles. Sensed speed is then send to electronic control unit (ECU). ECU utilizes this information to optimize engine performance including air/fuel ratio, and ignition timing. Additionally, it alerts the driver when speed exceeds the certain limits, thereby help prevent accidents. With growing emphasizing on passengers safety and introduction of self-driven vehicles, the demand for vehicle speed sensors is expected to rise significantly during forecast period.
This growth is primarily driven by Rising Adoption of Anti-lock Braking System (ABS) Among Vehicles and Growing Focus on Strengthening Passenger Safety Features in Automotive as Consumers Demand So.
Globally, a noticeable market trend is evident Introduction of Self-driving Vehicles. The Auto Parts & Equipment sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Bosch (Germany), Continental (Germany), HYUNDAI MOBIS (South Korea), ZF TRW (United States), Aisin Seiki (Japan), Aptive (Ireland), WABCO (France), Knorr-Bremse (Germany), Hitachi Metal (Japan) and General Motors (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Market Drivers
- Rising Adoption of Anti-lock Braking System (ABS) Among Vehicles
- Growing Focus on Strengthening Passenger Safety Features in Automotive as Consumers Demand So
Market Trend
- Introduction of Self-driving Vehicles
Restraints
- High Cost of Automotive Vehicles Embedded with ABS Sensors
- Immature Aftermarket for Vehicle Speed Sensor
Opportunities
Growing Emphasizing by Government to Make the ABS Mandatory in Vehicles and Rise in Automotive Sales BRICS Nations
Challenges
Issues Associated with Reliability and Durability of Vehicle Speed Sensor and Complexity Involved in Integration of Vehicle Speed Sensor Among OEMs, System Manufacturers and Others Stakeholders
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Vehicle Speed Sensor Study Sheds Light on
The Vehicle Speed Sensor Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Vehicle Speed Sensor industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Vehicle Speed Sensor industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.