Sensors & Actuators - Hungary | Statista Market Forecast

Revenue in the Sensors & Actuators market is projected to reach US$153.90m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 12.26%, 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 Hungary is experiencing significant growth and development. Customer preferences, trends in the market, and local special circumstances are contributing to this positive trend. Additionally, underlying macroeconomic factors are also playing a role in the market's growth. Customer preferences in Hungary are driving the demand for Sensors & Actuators. Customers in the country are increasingly seeking advanced technology solutions to improve efficiency and productivity in various industries. The demand for Sensors & Actuators is particularly high in sectors such as automotive, manufacturing, and healthcare. Customers are looking for reliable and accurate sensors and actuators that can enhance their operations and provide real-time data for decision-making. Trends in the market indicate a shift towards IoT (Internet of Things) integration. Sensors & Actuators are being increasingly used in IoT applications, allowing for seamless connectivity and data exchange between devices. This trend is driven by the need for automation and optimization of processes in various industries. Companies are leveraging IoT technology to improve their operational efficiency, reduce costs, and enhance their overall competitiveness. Local special circumstances in Hungary are also contributing to the growth of the Sensors & Actuators market. The country has a strong manufacturing sector, which is a major consumer of sensors and actuators. The automotive industry, in particular, is a significant driver of the market, with Hungary being a major hub for automotive manufacturing in Europe. The presence of multinational companies and the government's support for innovation and technology development further contribute to the market's growth. Underlying macroeconomic factors are also favorable for the Sensors & Actuators market in Hungary. The country has a stable economy and a favorable business environment, which attracts foreign investment and encourages the growth of the manufacturing sector. Additionally, the government's focus on digitalization and Industry 4. 0 initiatives is driving the adoption of advanced technologies, including Sensors & Actuators. In conclusion, the Sensors & Actuators market in Hungary is witnessing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The demand for advanced technology solutions, IoT integration, and the presence of a strong manufacturing sector are driving the market's positive trajectory. With favorable macroeconomic conditions and government support, the market is expected to continue its growth in the coming years.

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.