North America Speed Sensor Market is predicted to reach USD 3,230.4 Million at a CAGR of 6.3% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global North America Speed Sensor Market”.

The Speed Sensor market is estimated to register a CAGR of 6.3% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the North America Speed Sensor market - Rockwell Automation, Inc., ABB, NXP Semiconductors, STMicroelectronics, Infineon Technologies AG, Schneider Electric, Smith Systems, Inc., HYDAC Technology Corporation, Micro-Epsilon, Texas Instruments Incorporated, Continental AG, Bosch Engineering, Motion Sensors, Inc., Rechner Sensors, and Honeywell International Inc. and others.

Market Highlights

The North America Speed Sensor market is accounted to register a CAGR of 6.3% during the forecast period and is estimated to reach USD 3,230.4 Million by 2032.

The increasing demand of electronics in the speed sensor industry is driven by Autonomous driving is one of the primary factors triggering the demand for speed sensor sensors. The market for most speed sensor sensors is growing in line with the overall growth of the speed sensor market. The high adoption of ADAS and AD systems is the major reason for the elevated demand for speed sensor sensors. Sensors installed in ADAS/AD systems include image sensors, temperature sensors, position sensors, speed sensors, etc. contribute most to the overall growth of the market for speed sensor sensors. Combining automatic braking with rear-view cameras and sensors can reportedly cut reverse crashes by 78 percent. Moreover, other sensors, such as powertrain sensors, chassis sensors, and body sensors, also play a crucial role in stimulating the growth of the market for speed sensors. Powertrain sensors play a critical role in the effective operation of the engine, transmission system, and alternator. Chassis sensors monitor functions such as braking, steering, and suspension. A cluster of sensors is used in ADAS/AD systems, braking systems, and power steering systems of SAE AV Level 3 vehicles ('conditional' automation).

The increasing demand for better vehicle safety is anticipated to drive the growth of the industry in North America. They enable the smooth functioning of vehicles, electronics machines, and others. Furthermore, the introduction of innovative products that incorporate better safety features & algorithmic performance by major industry players is anticipated to boost the growth of the industry. For instance, in June 2019, Allergo Microsystems, one of the leading manufacturers of IC (Integrated Circuits), introduced A19250 & A19350 wheel speed IC, featuring new GMR technology and also covers stringent direction protocols set by government bodies. The demand for ADAS sensors is increasing exponentially owing to the increased application and functionalities that these sensors offer. Sensors form an essential part of ADAS. From primary stereo cameras to the latest LiDAR, sensors are utilized individually or in combination to perform complicated functions. Thus, the increasing demand for automated driving is expected to fuel the demand for automotive electronic components during the forecasted period.

In power generation, turbines and generators are used to convert energy sources into electricity. Maintaining the correct rotational speed is crucial for effective energy generation. These speed sensors continuously monitor and regulate the speed to ensure that the turbines or generators are operating within their maximum efficiency range, ultimately maximizing the energy output. Wind turbines are considered as one of the important components for renewable energy generation. These sensors ensures that the rotation speed is adjusted in response to changing wind condition. In many powers generation plants multiple type of turbines are implemented for power generation. Speed sensors can help in optimizing the synchronization of these turbines for maximum efficiency. By continuously monitoring rotational speed and performance, these sensors can detect early signs of wear and tear, of fluctuations in the performance. Maintenance can then be scheduled beforehand reducing the downtime and minimizing repair cost.

Segment Analysis

The North America Speed Sensor market has been segmented based on Type, Industry Vertical.

Based on Type, the North America Speed Sensor market segmentation includes Hall Effect Speed Sensor, Variable Reluctance Speed Sensor, RF (Inductive) Speed Sensor and Magnetoresistive Speed Sensor. The Hall Effect Speed Sensor segment held the majority share in 2022, contributing around ~46.1% to the market revenue. Hall-Effect sensors work by measuring the changing voltage when the device is placed in a magnetic field. Hall-Effect sensors all have a thin piece of semiconductor material inside them, which passes a continuous electrical current through itself to generate a magnetic field. In other words, once a Hall-Effect sensor detects that it is now in a magnetic field, it is able to sense the position of objects.

Based on Industry Vertical, the North America Speed Sensor market segmentation includes Automotive, Aerospace & Defense, Consumer Electronics, Industrial and Medical. The Industrial segment held the majority share in 2022 contributing around ~46.2% to the market revenue. Speed sensors play a critical role in various industrial applications by monitoring the speed of machinery, processes, and components. These sensors help maintain safety, optimize operations, and ensure the reliability of industrial equipment. Speed sensors are used to monitor the speed of conveyor belts in manufacturing and distribution facilities.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of North America Speed Sensor Market Research Report

Regional Analysis

By Region, the study provides market insights into US, Canada and Mexico. In terms of revenue, US held the largest share of 83.1% in the Speed Sensor market in 2022 and is expected to maintain its dominance during the forecast period. The increasing demand of electronics in automotive sector; increase in industrial automation by monitoring and controlling the speed of machineries and processes, for efficient and productivity improvement; and increase in demand of speed sensors for usages in turbines, generators and wind turbines to monitor the rotational speed and ensuring optimal performance in energy sector are driving the demand for speed sensor for North America region.

North America, particularly the United States, has a substantial automotive manufacturing sector. The growing demand for vehicles, including electric and autonomous vehicles, is driving the need for advanced speed sensors for various applications, including engine control, transmission control, and vehicle safety systems. There are many industrial applications that require monitoring rotational speed and standstill. Speed sensors are used in the automotive, food, steel and mining industries to detect standstills, overspeed’s, and under-speeds on drives and conveyor belts. Speed sensors are used on mobile machines like forklift trucks to track speed.

Key Findings of the Study

• The North America Speed Sensor market is expected to reach USD 3,230.4 Million by 2032, at a CAGR of 6.3 % during the forecast period.


• The US region accounted for the fastest-growing global market, imperative factors, such as the significant number of investments in US, making it the primary contributor to the market share.


• Based on Type, the Hall Effect Speed Sensor segment was attributed to holding the largest market in 2022, with an approximate market share of 46.1%.


• Rockwell Automation, Inc., ABB, NXP Semiconductors, STMicroelectronics, Infineon Technologies AG, Schneider Electric, Smith Systems, Inc., HYDAC Technology Corporation, Micro-Epsilon, Texas Instruments Incorporated, Continental AG, Bosch Engineering, Motion Sensors, Inc., Rechner Sensors, and Honeywell International Inc. and others. are the key market players.