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In conclusion, speed and velocity are kinematic quantities that have distinctly different definitions. Speed, being a scalar quantity, is the rate at which an object covers distance. The average speed is the distance (a scalar quantity) per time ratio. Speed is ignorant of direction. On the other hand, velocity is a vector quantity; it is direction-aware. Velocity is the rate at which the position changes. The average velocity is the displacement or position change (a vector quantity) per time ratio.
It shows your speed at a particular instant in time. The instantaneous speed of an object is not to be confused with the average speed. Average speed is a measure of the distance traveled in a given period of time; it is sometimes referred to as the distance per time ratio.