Speed Sensors
27 Mar.,2025
Speed Sensors
- The global market for speed sensors grew, increasing from $8.72 billion in 2022 to $9.41 billion in 2023, with a growth rate of 7.9%.
- Nevertheless, the ongoing conflict between Russia and Ukraine has disrupted hopes for a rapid global economic rebound from the COVID-19 pandemic.
- This conflict has led to economic sanctions, surging commodity prices, supply chain disruptions, and inflation, affecting global markets.
- Projections indicate that the speed sensor market is set to achieve $12.53 billion in 2027, driven by a compound annual growth rate of 7.4%.