Sensors & Actuators - G7 | Statista Market Forecast

Revenue in the Sensors & Actuators market is projected to reach US$5.43bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 11.63%, 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 G7 countries has been experiencing significant growth in recent years. This can be attributed to several factors, including customer preferences for advanced technology, increasing demand for automation, and the presence of local special circumstances. Additionally, underlying macroeconomic factors such as economic stability and technological advancements have also contributed to the development of the market. Customer preferences in the Sensors & Actuators market in G7 countries have shifted towards advanced technology and automation. Customers are increasingly seeking high-performance sensors and actuators that can improve the efficiency and accuracy of their operations. This has led to a growing demand for sensors and actuators with features such as wireless connectivity, remote monitoring capabilities, and real-time data analysis. Customers are also looking for sensors and actuators that are compact, durable, and easy to integrate into existing systems. One of the key trends in the Sensors & Actuators market in G7 countries is the increasing adoption of Internet of Things (IoT) technology. IoT allows for the seamless integration of sensors and actuators into various devices and systems, enabling real-time data collection and analysis. This trend is driven by the need for improved efficiency, reduced costs, and enhanced productivity. Industries such as manufacturing, automotive, healthcare, and agriculture are particularly embracing IoT-enabled sensors and actuators to optimize their operations. Another trend in the market is the growing demand for sensors and actuators in the automotive industry. With the increasing focus on autonomous vehicles and electric vehicles, there is a rising need for sensors and actuators that can enable advanced driver assistance systems, vehicle connectivity, and energy efficiency. This trend is driven by the increasing consumer demand for safer, more efficient, and environmentally friendly vehicles. Local special circumstances also play a role in the development of the Sensors & Actuators market in G7 countries. For example, in countries with a strong manufacturing base such as Germany and Japan, there is a high demand for sensors and actuators in industries such as automotive, machinery, and electronics. These countries have well-established supply chains and infrastructure that support the development and production of sensors and actuators. Underlying macroeconomic factors such as economic stability and technological advancements have also contributed to the growth of the Sensors & Actuators market in G7 countries. Economic stability provides a conducive environment for businesses to invest in new technologies and expand their operations. Technological advancements, on the other hand, drive innovation and enable the development of more advanced and efficient sensors and actuators. In conclusion, the Sensors & Actuators market in G7 countries is experiencing significant growth due to customer preferences for advanced technology and automation, increasing demand in the automotive industry, local special circumstances, and underlying macroeconomic factors. This trend is expected to continue in the coming years as industries continue to embrace IoT technology and seek innovative solutions to improve their operations.

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.