Sensors & Actuators - Romania | Statista Market Forecast

Revenue in the Sensors & Actuators market is projected to reach US$64.33m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 11.84%, 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 Romania has been experiencing significant growth in recent years.

Customer preferences: Customers in Romania are increasingly demanding sensors and actuators that offer advanced features and capabilities. They are looking for products that can provide accurate and reliable data, as well as those that are easy to integrate into their existing systems. Additionally, customers are showing a preference for sensors and actuators that are compact in size and offer high performance.

Trends in the market: One of the key trends in the Sensors & Actuators market in Romania is the growing adoption of IoT (Internet of Things) technology. This has led to an increased demand for sensors and actuators that can be connected to the internet and provide real-time data. The use of IoT technology in various industries, such as manufacturing, healthcare, and transportation, has created new opportunities for sensors and actuators in Romania. Another trend in the market is the increasing focus on energy efficiency. With rising energy costs and environmental concerns, customers in Romania are looking for sensors and actuators that can help them reduce energy consumption and optimize their operations. This has led to a growing demand for smart sensors and actuators that can monitor and control energy usage in various applications.

Local special circumstances: Romania is experiencing rapid industrialization, with various industries such as automotive, manufacturing, and healthcare witnessing significant growth. This has created a strong demand for sensors and actuators in the country. Additionally, Romania is becoming a hub for technology and innovation, with many startups and research institutions focusing on developing advanced sensors and actuators. This has further contributed to the growth of the market in the country.

Underlying macroeconomic factors: The overall economic growth in Romania has had a positive impact on the Sensors & Actuators market. The country has seen steady GDP growth, which has led to increased investments in various sectors. This has created a favorable business environment for companies operating in the Sensors & Actuators market. Additionally, the government has been supportive of the development of the technology sector, providing incentives and funding for research and development activities. In conclusion, the Sensors & Actuators market in Romania is experiencing significant growth due to customer preferences for advanced features and capabilities, the adoption of IoT technology, the focus on energy efficiency, local special circumstances such as rapid industrialization and technological innovation, and underlying macroeconomic factors such as economic growth and government support.

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.