Sensors & Actuators - United States

Revenue in the Sensors & Actuators market is projected to reach US$1.37bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.51%, 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 United States is experiencing significant growth due to increasing customer preferences for smart devices and automation, as well as advancements in technology.

Customer preferences: Customers in the United States are increasingly demanding smart devices and automation solutions in various industries such as automotive, healthcare, and consumer electronics. This is driving the demand for Sensors & Actuators, as these components play a crucial role in enabling the functionality of these smart devices and automation systems. Additionally, customers are seeking more efficient and reliable solutions, which further contributes to the growth of the market.

Trends in the market: One of the key trends in the Sensors & Actuators market in United States is the integration of Internet of Things (IoT) technology. IoT enables the connection and communication between devices, allowing for real-time data collection and analysis. This integration of IoT technology with Sensors & Actuators enables the development of smart systems and automation solutions, providing enhanced functionality and efficiency. As a result, there is a growing demand for Sensors & Actuators that are compatible with IoT technology. Another trend in the market is the miniaturization of Sensors & Actuators. With the increasing demand for smaller and more compact devices, manufacturers are focusing on developing Sensors & Actuators that are smaller in size but still offer high performance. This trend is driven by the need for sensors and actuators that can be integrated into various devices without compromising on functionality.

Local special circumstances: The United States has a highly developed technology and manufacturing sector, which provides a favorable environment for the growth of the Sensors & Actuators market. The presence of key players in the market, as well as a strong research and development infrastructure, contributes to the innovation and development of new Sensors & Actuators technologies.

Underlying macroeconomic factors: The growth of the Sensors & Actuators market in United States is also influenced by underlying macroeconomic factors. For example, the overall economic growth of the country, as well as the level of investment in research and development, can impact the demand for Sensors & Actuators. Additionally, government policies and regulations related to technology and innovation can also shape the market dynamics. In conclusion, the Sensors & Actuators market in United States is experiencing growth due to increasing customer preferences for smart devices and automation, as well as advancements in technology. The integration of IoT technology and the miniaturization of Sensors & Actuators are key trends in the market. The presence of a highly developed technology and manufacturing sector in the United States, along with underlying macroeconomic factors, further contribute to the growth of the market.

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.