Sensors & Actuators - Benelux | Statista Market Forecast

Revenue in the Sensors & Actuators market is projected to reach US$641.80m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.12%, resulting in a market volume of 0.00 by 2029.
In global comparison, most revenue will be generated China (US$6.22bn in 2024).

Definition:

The Sensors & Actuators market includes semiconductor devices that are made for measuring physical, chemical, and biological properties such as temperature, pressure, and acceleration, as well as gyroscopes sensors, and microelectromechanical (MEMS) devices that convert electrical signals into physical actions in devices such as relays, digital micromirrors, etc.

Additional Information:

The Sensors & Actuators market comprises revenue and revenue change as the key performance indicators. Only the revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included and the revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by consumers (B2C), enterprises (B2B), and governments (B2G).

Key players in this market include Texas Instruments, NXP Semiconductors, ST Microelectronics, Amphenol Corporation, etc.,

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Temperature sensors
Pressure sensors
Acceleration sensors
Yaw and Spin rate sensors
Magnetic sensors
MEMS devices

Optical sensors
Image sensors
Motors

The Sensors & Actuators market in Benelux is experiencing significant growth due to several key factors. Customer preferences for advanced technology and automation, along with the increasing demand for smart devices and IoT applications, are driving the market expansion. Additionally, the region's strong focus on innovation and technological advancements, as well as favorable government initiatives, are contributing to the growth of the Sensors & Actuators market in Benelux. Customer preferences in Benelux are shifting towards advanced technology and automation. There is a growing demand for smart devices and IoT applications, which require sensors and actuators to function effectively. Consumers are increasingly seeking products that offer convenience, efficiency, and connectivity. This trend is driving the adoption of sensors and actuators in various industries, including automotive, healthcare, manufacturing, and consumer electronics. The market is also witnessing a surge in demand for sensors and actuators due to the increasing use of automation in industries. Automation helps improve productivity, reduce costs, and enhance overall efficiency. Sensors and actuators play a crucial role in enabling automation by providing real-time data and facilitating control and monitoring processes. As industries in Benelux continue to embrace automation, the demand for sensors and actuators is expected to grow further. In addition to customer preferences, there are several local special circumstances that are contributing to the growth of the Sensors & Actuators market in Benelux. The region has a strong focus on innovation and technological advancements, with a thriving ecosystem of research and development centers, universities, and technology startups. This fosters a culture of innovation and encourages the development of cutting-edge sensor and actuator technologies. Furthermore, the governments in Benelux have implemented favorable initiatives to promote the adoption of advanced technologies. These initiatives include funding programs, tax incentives, and regulatory support for companies involved in the development and deployment of sensors and actuators. Such support from the government encourages investment in the market and accelerates the growth of the Sensors & Actuators market in Benelux. Underlying macroeconomic factors also play a role in the development of the Sensors & Actuators market in Benelux. The region has a stable and prosperous economy, which provides a conducive environment for businesses to thrive. The presence of established industries in sectors such as automotive, healthcare, and manufacturing further drives the demand for sensors and actuators. Additionally, the high level of technological literacy among the population and the availability of skilled workforce contribute to the growth of the market. Overall, the Sensors & Actuators market in Benelux is witnessing significant growth due to customer preferences for advanced technology and automation, the increasing demand for smart devices and IoT applications, local special circumstances such as a focus on innovation and favorable government initiatives, and underlying macroeconomic factors such as a stable economy and skilled workforce. These factors are expected to continue driving the growth of the market in the coming years.

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the money spent at the manufacturer price level (excluding VAT).

Modeling approach / Market size:

Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market. As a basis for evaluating markets, we use the annual financial reports of the market-leading companies and reports from our primary research. In addition, we use relevant key market indicators and data from country-specific associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

Governments and companies across the entire semiconductor value chain have had to navigate changing demands, supply chain imbalances, and geopolitical factors in recent times. As a result, action plans and policies have had to be established to safeguard the supply of semiconductors. In 2024, global semiconductor sales surpassed 600 billion U.S. dollars, a jump from the previous year as the industry reaps the rewards from the artificial intelligence (AI) revolution sweeping across the world.