Sensors & Actuators - Greece | Statista Market Forecast

Revenue in the Sensors & Actuators market is projected to reach US$61.80m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.10%, 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 Greece has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences in Greece have shifted towards increased automation and connectivity in various industries. This has led to a higher demand for sensors and actuators that can monitor and control processes in sectors such as manufacturing, automotive, and healthcare. Customers in Greece are seeking innovative solutions that can improve efficiency, reduce costs, and enhance overall performance. As a result, there has been a growing demand for advanced sensors and actuators that can provide real-time data and enable seamless integration with other systems. Trends in the Sensors & Actuators market in Greece are aligned with global market trends. The increasing adoption of Internet of Things (IoT) technology and the rise of Industry 4. 0 have been major drivers of growth. IoT devices rely heavily on sensors and actuators to collect and transmit data, leading to a higher demand for these components. Additionally, the integration of sensors and actuators with artificial intelligence (AI) and machine learning technologies has further fueled market growth. These advancements have allowed for more sophisticated and intelligent applications of sensors and actuators in various industries. Local special circumstances in Greece have also contributed to the development of the Sensors & Actuators market. The country has a strong manufacturing sector, particularly in industries such as automotive, electronics, and pharmaceuticals. These industries require advanced sensors and actuators to optimize production processes and ensure quality control. Furthermore, Greece has been investing in research and development activities, leading to the emergence of innovative sensor and actuator technologies. This has attracted both domestic and foreign companies to invest in the market, further driving its growth. Underlying macroeconomic factors have also played a role in the development of the Sensors & Actuators market in Greece. The country has experienced a period of economic recovery in recent years, leading to increased investments in various sectors. This has created opportunities for the deployment of sensors and actuators in industries such as infrastructure, energy, and transportation. Additionally, Greece has been focusing on improving its digital infrastructure and promoting the adoption of digital technologies. This has created a favorable environment for the growth of the Sensors & Actuators market, as these technologies rely heavily on sensor and actuator technologies. In conclusion, the Sensors & Actuators market in Greece has been growing due to customer preferences for increased automation and connectivity, global market trends towards IoT and Industry 4. 0, local special circumstances such as a strong manufacturing sector and investment in research and development, and underlying macroeconomic factors such as economic recovery and digital infrastructure development. This growth is expected to continue as the demand for advanced sensor and actuator technologies continues to rise in Greece.

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.