Sensors & Actuators - CIS | Statista Market Forecast

Revenue in the Sensors & Actuators market is projected to reach US$56.15m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.55%, 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 CIS is witnessing significant growth and development due to several key factors. Customer preferences for advanced technology, the increasing adoption of automation in various industries, and the rising demand for smart devices are driving the market forward. Additionally, local special circumstances and underlying macroeconomic factors further contribute to the growth of the market in the CIS region. Customer preferences in the CIS region are favoring advanced technology and innovative solutions. With the growing awareness about the benefits of automation, customers are increasingly seeking sensors and actuators that can enhance the efficiency and productivity of their operations. They are looking for reliable and high-quality products that can provide accurate data and enable precise control in various applications. The market is also being driven by the increasing adoption of automation in industries such as manufacturing, automotive, and healthcare. Automation offers numerous advantages, including improved productivity, reduced labor costs, and enhanced safety. Sensors and actuators play a crucial role in enabling automation by providing real-time data and enabling precise control of machinery and processes. As a result, the demand for sensors and actuators is growing rapidly in these industries. Furthermore, the rising demand for smart devices is fueling the growth of the Sensors & Actuators market in the CIS region. Smart devices, such as smartphones, wearables, and smart home appliances, rely on sensors and actuators to provide various functionalities and features. With the increasing adoption of these devices, the demand for sensors and actuators is also increasing. In addition to customer preferences, there are local special circumstances that contribute to the growth of the Sensors & Actuators market in the CIS region. The region has a strong manufacturing base and is home to several industries that heavily rely on automation. The presence of these industries creates a significant demand for sensors and actuators, driving the market growth. Underlying macroeconomic factors also play a role in the development of the Sensors & Actuators market in the CIS region. The region is experiencing economic growth, which is leading to increased investments in various sectors. These investments are driving the demand for automation and smart technologies, creating a favorable market environment for sensors and actuators. In conclusion, the Sensors & Actuators market in the CIS region is witnessing significant growth and development due to customer preferences for advanced technology, the increasing adoption of automation, and the rising demand for smart devices. Local special circumstances, such as a strong manufacturing base, and underlying macroeconomic factors, such as economic growth and investments, further contribute to the market's growth.

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.