Sensors & Actuators - Finland | Statista Market Forecast

Revenue in the Sensors & Actuators market is projected to reach US$15.09m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.11%, 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 Finland is witnessing significant growth due to several factors.

Customer preferences: Customers in Finland are increasingly demanding sensors and actuators that are more advanced, reliable, and efficient. They are looking for products that can provide accurate and real-time data, as well as those that can be integrated easily into their existing systems. Additionally, customers are also seeking sensors and actuators that are durable and can withstand harsh environmental conditions.

Trends in the market: One major trend in the Sensors & Actuators market in Finland is the increasing adoption of Internet of Things (IoT) technology. IoT enables the connection of sensors and actuators to the internet, allowing for remote monitoring and control of various devices and systems. This trend is driving the demand for sensors and actuators that can seamlessly integrate with IoT platforms and provide valuable data for analysis and decision-making. Another trend in the market is the growing use of sensors and actuators in the automotive industry. Finland has a strong automotive manufacturing sector, and sensors and actuators play a crucial role in ensuring the safety and performance of vehicles. With the increasing focus on electric and autonomous vehicles, the demand for sensors and actuators is expected to further rise in the coming years.

Local special circumstances: Finland has a highly skilled workforce and a strong tradition of technological innovation. This has created a favorable environment for the development and production of sensors and actuators. The country also has a well-established ecosystem of research institutions, universities, and technology companies that collaborate to drive innovation in the field of sensors and actuators.

Underlying macroeconomic factors: Finland has a stable economy with a high level of technological advancement. The country has a strong focus on research and development, which has resulted in the development of cutting-edge technologies in various sectors, including sensors and actuators. Additionally, Finland has a favorable business environment and government policies that support innovation and entrepreneurship, attracting both domestic and foreign investments in the Sensors & Actuators market. In conclusion, the Sensors & Actuators market in Finland is experiencing significant growth driven by customer preferences for advanced and reliable products, as well as the adoption of IoT technology and the increasing use of sensors and actuators in the automotive industry. The country's favorable business environment and focus on research and development also contribute to the market's development.

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.