The global micro electromechanical system market is estimated to register a high CAGR during the forecast period, between 2021 and 2028. Micro electromechanical systems (MEMS) are advanced systems and deployment of technology that combine mechanical and electrical components. Micro-electromechanical systems technology consists of very small mechanical parts that move electrical components. Sensors such as gyroscopes, accelerometers, inertial modules, digital compasses, humidity sensors, pressure sensors, and microphones are made by using this technology. The impending requirement for device shrinking in various electronic devices such as wearable devices, smartphones, medical equipment, and other electronic devices are likely to propel the MEMS market forward.
Market Trends, Drivers, Restraints, and Opportunities:
- Growing smartphone penetration and rising popularity of the Internet of Things (IoT) are expected to fuel the market expansion.
- Technology advancement that leads to mass production of micro sensors at lower cost is one of the primary factors driving market expansion growth.
- Increasing demand for the micro electromechanical systems in the automation sector propels the expansion of the market.
- Lack of a standardized production process for MEMS and the inclusion of sensors in devices lowers device life and adds extra cost are hindering market expansion.
- The enormous complexity of these device systems and design is expected to be a major barrier to market growth.
- Major development in driverless cars, increasing adoption of wearable devices, and new applications in the biomedical sector are likely to provide profitable opportunities for the expansion market.
Scope of the report:
The report on the global micro electromechanical system market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
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Attributes
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Details
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Report Title
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Micro Electromechanical System Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018 & 2019
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Forecast Period
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2021–2028
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Segmentation
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Types (Sensors [Combo Sensors, Environment Sensors, Inertial Sensors {Magnetometer, Gyroscope, and Accelerometer}, Optical Sensors {Passive Infrared Sensor & Thermopile and Micro Bolometer}, Pressure Sensors, and Ultrasonic Sensors] and Actuators [Microfluidics, Micro Speakers, Optical MEMS, RF MEMS [Filter, Switch, and Oscillator], Ultrasonic Finger Prints, and Others]), Applications (Aerospace & Defense, Automotive, Consumer Electronics, Healthcare, Industrial, Telecommunication, and Others)
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Regional Scope
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Asia Pacific, North America, Europe, Latin America, and Middle East & Africa
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Report Coverage
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Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast
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Key Players Covered in the Report
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STMicroelectronics N.V.; TE Connectivity Corp.; Sensata Technologies Holding N.V.; Panasonic Corp.; Denso Corp.; Texas Instruments Inc.; Broadcom Ltd.; NXP Semiconductors N.V.; Honeywell International Inc.; Analog Devices, Inc.; Knowles Corp.; Robert Bosch GmbH; and Taiwan Semiconductor Manufacturing Co. Ltd.
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Micro Electromechanical System Market Segment Insights:
Sensors segment is projected to hold significant market share
Based on types, the micro electromechanical system market is bifurcated into sensors and actuators. The sensors segment is further classified into combo sensors, environment sensors, inertial sensors, optical sensors, pressure sensors, and ultrasonic sensors. The inertial sensors segment is further sub-divided into magnetometer, gyroscope, and accelerometer. The optical sensors segment is sub-bifurcated into passive infrared sensor & thermopile and micro bolometer. Furthermore, the actuators segment is further sub-categorized into microfluidics, micro speakers, optical MEMS, RF MEMS, ultrasonic finger prints, and others. The RF MEMS segment is further sub-segmented into filter, switch, and oscillator. The sensors segment is projected to hold significant market share. MEMS sensors are used in a wide range of technological applications across industries ranging from automotive to medical. MEMS sensor are widely applied in the automotive industry owing to greater automation in automotive manufacturing and the introduction of connected autonomous vehicles.
Consumer electronics segment is anticipated to account for substantial share
On the basis of applications, the market is divided into aerospace & defense, automotive, consumer electronics, healthcare, industrial, telecommunication, and others. The consumer electronics segment is anticipated to account for substantial share of the market owing to wide use of the system in various consumer electronics goods such as cellphones, incorporate a variety of accelerometers, gyroscopes, and other sensors. Furthermore, these sensors are increasingly being integrated into high-end low-cost phones, smartphones, and wearables such as fitness trackers and Internet of Things (IoT) apps. MEMS sensors frequently have lower costs and are smaller in size with less power than discrete sensor equivalents. They can also be incorporated for the manufacturing of signal conditioning circuitry in the same semiconductor package.
Asia Pacific is expected to dominate the market
In terms of regions, the micro electromechanical system market is categorized as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate the market owing to wide investment to improve the process control and manufacturing from major countries such as Japan, China, Taiwan, and South Korea. Furthermore, the region is home to numerous well-known market vendors and contract fabrication firms. Furthermore, government legislation to boost industrial automation, passenger safety, environmental monitoring, and other areas are pushing the development of new MEMS sensors. South Korea is one of the world's largest makers and exporters of semiconductors. China is substantially investing in the development of a MEMS supply chain. The presence of senior population in Japan, China, and South Korea is expected to increase demand for healthcare services during the forecast period, creating opportunities for devices such as ventilators, dialysis, inhalers, and blood pressure monitoring devices.
Segments
By Types
- Sensors
- Combo Sensors
- Environment Sensors
- Inertial Sensors
- Magnetometer
- Gyroscope
- Accelerometer
- Optical Sensors
- Passive Infrared Sensor & Thermopile
- Micro bolometer
- Pressure Sensors
- Ultrasonic Sensors
- Actuators
- Microfluidics
- Micro Speakers
- Optical MEMS
- RF MEMS
- Ultrasonic Finger Prints
- Others
By Applications
- Aerospace & Defense
- Automotive
- Consumer Electronics
- Healthcare
- Industrial
- Telecommunication
- Others
By Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
By Key Players
- STMicroelectronics N.V.
- TE Connectivity Corp.
- Sensata Technologies Holding N.V.
- Panasonic Corp.
- Denso Corp.
- Texas Instruments Inc.
- NXP Semiconductors N.V.
- Broadcom Ltd.
- Honeywell International Inc.
- Analog Devices, Inc.
- Knowles Corp.
- Robert Bosch GmbH
- Taiwan Semiconductor Manufacturing Co. Ltd.
Competitive Landscape
Key players in the global micro electromechanical system market are STMicroelectronics N.V.; TE Connectivity Corp.; Sensata Technologies Holding N.V.; Panasonic Corp.; Denso Corp.; Texas Instruments Inc.; Broadcom Ltd.; NXP Semiconductors N.V.; Honeywell International Inc.; Analog Devices, Inc.; Knowles Corp.; Robert Bosch GmbH; and Taiwan Semiconductor Manufacturing Co. Ltd. These players have adopted several business development activities such as collaborations, agreements, mergers & acquisitions, production capacity expansion, new product launches, and partnerships to increase their market share.
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