The micro-electromechanical systems (MEMS) technology includes very small, moving mechanical parts, and electrical components. This technology is used to fabricate sensors such as accelerometers, gyroscopes, digital compasses, inertial modules, pressure sensors, humidity sensors, and microphones. The MEMS technology holds the largest share in the overall sensor market across the globe. The implementation of sensors made with MEMS technology in consumer electronic devices is another factor that boosts the market growth.
The automotive companies such as Audi, BMW, and Volkswagen, extend their R&D budgets every year to stay ahead in the competition. These vehicle manufacturing companies are increasing the number of MEMS sensors used in their vehicles to make them more comfortable and increase the overall automation. The rise in demand for automation in vehicles, high competition in the automotive industry, surge in demand for electric cars to control pollution, and increase in trend of driverless cars are a few prime factors that fuel the demand for sensors in the automotive industry across the globe and a high growth rate is ensured during the forecast period.
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Factors such as growth in demand for smart consumer electronics, emerging trends in automation industry, and increasing popularity of IoT in semiconductor has boosted the growth of the global MEMS market. However, lack of standardized fabrication process for MEMS and incorporation of sensor in devices incurs extra value and reduces life of device hamper the market growth. Furthermore, emerging trends toward autonomous vehicles and increase in adoption of wearable devices and innovative application in biomedical sector are expected to offer lucrative opportunities for market expansion.
The global microelectromechanical (MEMS) market is analyzed by type, industry vertical, and region. Based on type, the market is analyzed across sensors and actuators. The sensor type is further bifurcated into accelerometers, gyroscopes, magnetometers pressure sensor, optical sensors, environment sensors, and ultrasonic sensors. Further, the actuators type is further sub-segmented into, optical MEMS, microfluidics, RF MEMS, and Others.
On the basis of industry vertical, the market is divided into consumer electronics, automotive, industrial, aerospace & defense, healthcare, and telecommunication. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA along with their prominent countries.
The key players profiled in the report include Panasonic Corporation, Robert Bosch GmbH, STMicroelectronics N.V., Texas Instruments, Analog Devices Inc., Broadcom, Denso Corporation, HP Inc., NXP Semiconductors, and Knowles Corporation.
These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their market penetration.
KEY BENEFITS FOR STAKEHOLDERS
• This study includes the analytical depiction of the global MEMS market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information regarding the key drivers, restraints, and opportunities.
• The current market is quantitatively analyzed from 2019 to 2026 to highlight the financial competency of the industry.
• Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
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GLOBAL MEMS MARKET SEGMENTATION
o Inertial Sensors (Accelerometers, Gyroscopes, Magnetometers)
o Pressure Sensors
o Optical Sensors
o Environment Sensors
o Ultrasonic Sensors
o Optical MEMS
o RF MEMS
o Others (Microspeakers, Ultrasonic Finger Prints)
• Consumer Electronics
• Aerospace & Defense
• North America
o Rest of Europe
o South Korea
o Rest of Asia-Pacific
o Latin America
o Middle East