The European non-optical sensors and actuators market is estimated to be valued at US$2.016 billion in 2020. Non-Optical Sensors and Actuators are semiconductor components widely used in the automotive, manufacturing, and electronics industries to deliver changes in the physical environment. Sensors are devices that are designed specifically to respond to physical conditions like heat, humidity, pressure, light, etc. An actuator is a device that produces rotary or vertical motion by converting energy and signals going into the system.
Market Trend:
The increasing industrialization accompanied by fast-moving sectors like automotive, electronics, and manufacturing is projected to provide a boost to Europe’s non-optical sensors and actuators market in the coming years. Besides that, the growing demand for MEMS (micro-electromechanical systems) can also be favorable for the growth of the European non-optical sensors and actuators market. Also, the role of emerging technology powered by the Internet of Things is something to be looked into for the growth of Europe’s non-optical sensors and actuators market.
Apart from that, one of the major restraints for the market is the high competition for non-optical pressure sensors by the optical pressure sensors, which can hamper the growth of the market.
Growth Factors
For centuries, Europe has been a pioneer in Industrialisation, and increasing industrial innovation, along with the widening scope for the development of automation, is expected to be the highlight behind the growth of Europe’s non-optical sensors and actuators market. European Commission 2020 data states that industries make up more than 20% of the EU’s economy and account for 80% of goods exports. Besides that, small and medium-sized businesses (SMEs) account for over 99% of all European firms. Automation accounts for a significant portion of industrialization in Europe and Europe Commission data state that before 2030, 45%-60% of all workers in Europe could see themselves replaced by automation. Europe will continue its automation trend because out of the 22 countries with an above-average robot density, 14 are located in Europe. With favorable government policies and higher public participation, these statistics hold a major place for the growth of the non-optical sensors and actuators market in Europe.
With the widening scope of technological advancement and IoT in almost every sector, the non-optical sensor and actuator market can too develop using the Internet of Things. Sensors have become a major source of IoT data, and the data analysis produced by the actuators and sensors can provide valuable business insights over time. Nanotechnology and other advancements have made it possible to introduce increased accuracy, and a high ability to detect things that weren’t possible earlier. IoT systems include, a variety of sensors like flow sensors, temperature sensors, voltage sensors, humidity sensors, etc. and sensors and actuators with IoT powered by cloud software ingest device data and provide a way to query or visualize the data. With Artificial Intelligence and IoT-powered sensors and actuators in a developed region like Europe, the market stands a great chance of developing in the coming years.
Restraint
One of the major restraints for the growth of the European Non-Optical Sensor markets is the high competition from Optical Pressure Sensors. An optical pressure sensor can detect a change in pressure through an effect on the light by blocking the light as pressure increases. Fibre Optic pressure sensors are much lighter versions of these sensors and are highly preferred in harsh environments like those in the oil and gas industries. Because of their better performance and accurate results, optical pressure sensors are preferred over non-optical ones by various industrial segments, and this is expected to hamper their growth in the coming years.
The Impact of the COVID-19 Pandemic on the European Non-Optical Sensors and Actuators Market: With the onset of COVID-19 that imposed lockdown and curfew globally, companies and industries all around initiated work from home. With the shutting down of industries and a halt in operations in Europe, the demand for non-optical sensors and actuators went down. Therefore, the COVIDpandemic severely impacted the growth of the non-optical sensors and actuators market in Europe. But with the comeback of industries, the non-optical sensors and actuators market took a rebound and is expected to grow at a significant rate in the coming years.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Market size value in 2020 | US$2.016 billion |
| Growth Rate | CAGR of during the forecast period |
| Base year | 2020 |
| Forecast period | 2022–2027 |
| Forecast Unit (Value) | USD Billion |
| Segments covered | Type, End-User Industry, And Geography |
| Regions covered | U.K., Germany, France, Spain, Italy, Others |
| Companies covered | Texas Instruments Incorporated, Analog Devices, Inc., NXP Semiconductors, Infineon Technologies AG, STMicroelectronics, ON Semiconductor Corporation, Panasonic Corporation, Sensirion AG, OMRON Corporation, TDK Corporation, TE Connectivity, Robert Bosch GmbH, Vishay Intertechnology, Inc., ROHM Semiconductor |
| Customization scope | Free report customization with purchase |
Market Segmentation: