Passenger vehicle wheel speed sensors measure the speed of the wheel where fusion of technology and brake control system works in combination for the safety of the passengers, these sensors integrally detects the rotational wheel speed of vehicles using frictionless and non-contacting measurement principle with which wheel speed is measured using the Anisotropic Magneto Resistance (AMR) effect. Passenger Vehicle Wheel Speed Sensor is the system designed for Driver assistance equipped with a sensor integrated with the anti-lock braking system, Electronic Stability Control System and Traction Control System to sense and control the speed of passenger vehicle to provide better stability and control to the passenger vehicle.This growth is primarily driven by Rise in demand for Autonomous Vehicle
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The Auto Parts & Equipment sector in the 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), MOBIS (South Korea), ZF (Germany), TRW (United States), Delphi (Ireland), WABCO (Belgium), Knorr-Bremse (Germany) and Hitachi Metal (Japan), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In September 2022, he added the report "Automotive Wheel Speed Sensors Market: Global Industry Trends, Share, Size, Growth, Opportunities and Forecast 2022-2027" to ResearchAndMarkets.com's offering. The growing use of electric vehicles (EVs) along with significant growth in the automotive sector represents one of the key factors creating a positive outlook for the market.
Influencing Trend:Increase in adoption of anti-locking braking systems for vehicles
Market Growth Drivers:Rise in demand for Autonomous Vehicle and Growing Consumer Demand for Safety and Comfort
Challenges:High Weight & Complexity Due to Number of Components Used
Restraints:High Cost of Vehicles Embedded with ABS System and Strict Government Mandates for Minimum Stoppages Distance
Opportunities:Rapid Development of Autonomous Cars
AMA Research follows 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 mainly 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 showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Passenger Vehicle Wheel Speed Sensor Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Passenger Vehicle Wheel Speed Sensor Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Passenger Vehicle Wheel Speed Sensor players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the ReportAMA Research features not only specific market forecasts but also includes 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, Passenger Vehicle Wheel Speed Sensor Study Sheds Light on The Passenger Vehicle Wheel Speed Sensor Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Passenger Vehicle Wheel Speed Sensor industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Passenger Vehicle Wheel Speed Sensor industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, 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 the value they currently claim or capture the new addressable opportunity.