Wheel Speed Sensor Market Updates

Skyquest Technology's expert advisors continuously track and analyze the latest developments and updates related to wheel speed sensor market. Our team of analysts stay abreast of all the recent news stories shaping the industry including new product launches by major companies, strategic partnerships, M&As, Patent filings and industry and regulatory developments.

Wheel Speed Sensor Market News

in Wheel Speed Sensor Market
  • In September 2024, Bosch and Pirelli inked a joint development agreement to develop intelligent tire technology. The partnership seeks to combine sensors in tires for the enhancement of driving functions as well as software-based solutions. It seeks to develop safety, comfort, sustainability, and driving dynamics using high-end sensor integration.
  • In February 2024, Continental announced the integration of tire sensors with driver assistance control systems. This development enables real-time monitoring of tire conditions, enhancing vehicle safety and performance. The synergy between tire sensors and control systems contributes to improved driving dynamics and vehicle stability.
  • In March 2024, Honeywell launched the SNG-S Series Speed Sensors with magnetically biased Hall-effect integrated circuits. The sensors reliably measure motion in ferrous metal targets with improved automotive reliability. The SNG-S Series is engineered to address the challenging requirements of new vehicle safety systems.
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Global Wheel Speed Sensor Market size was valued at USD 7.30 Billion in 2023 poised to grow from USD 7.53 Billion in 2024 to USD 9.69 Billion by 2032, growing at a CAGR of 3.2% in the forecast period (2025-2032).

The global wheel speed sensor market outlook is very competitive, with major players such as Bosch, Continental AG, Denso Corporation, and Honeywell International dominating the scene. They concentrate on innovation, strategic collaborations, and diversification of products. For example, Bosch concentrates on the development of sophisticated ADAS technologies, Continental AG in electric vehicle sensor technologies, Denso Corporation on the enhancement of its presence in EVs and safety systems and setting itself up to capitalize on increased demand in the automotive industry. 'Bosch Automotive (Germany)', 'Continental AG (Germany)', 'Denso Corporation (Japan)', 'Honeywell International (USA)', 'Sensata Technologies (US)', 'ZF Friedrichshafen AG (Germany)', 'Delphi Technologies (United Kingdom)', 'Valeo SA (France)', 'Mitsubishi Electric Corporation (Japan)', 'Hitachi Automotive Systems, Ltd. (Japan)', 'TE Connectivity Ltd. (Switzerland)', 'NXP Semiconductors (Netherlands)', 'Mando Corporation (South Korea)', 'Autoliv Inc. (Sweden)', 'TRW Automotive (USA)'

The rising demand for Advanced Driver Assistance Systems (ADAS) is a major driver of the global wheel speed sensor market growth. ADAS technologies like anti-lock braking systems (ABS), electronic stability control (ESC), and traction control rely on precise wheel speed data for better vehicle safety, increasing sensor demand.

Integration with ADAS for Enhanced Vehicle Safety: The global wheel speed sensor market trends is gravitating more and more towards Advanced Driver Assistance Systems (ADAS). With manufacturers emphasizing the improvement of safety, wheel speed sensors are a part of ADAS features such as anti-lock braking systems and traction control, enhancing vehicle stability and overall safety, and driving the market ahead.

How does the Early Adoption of ADAS in North America Impact the Wheel Speed Sensor Market?

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Global Wheel Speed Sensor Market
Wheel Speed Sensor Market

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