The Sensors & Actuators market is expected to continue to grow over the next five years, driven by the demand for sensors and actuators of smaller size and increased performance in industrial automation, consumer electronics, Internet of Things (IoT), and implantable electronic applications. The growing demand for MEMS sensors used in advanced driver assistance systems (ADAS), which support increasing road safety, would further drive this market.
Overall, the market is expected to show an annual growth rate (CAGR) of nearly 10% in the next five years. The Asian region especially remains to be the largest market for sensors and actuators in this time.
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.
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