Microelectromechanical Systems (MEMS) Market Overview:
Global microelectromechanical systems (MEMS) market was valued at $13 billion in 2015, and is expected to reach $26.8 billion by 2022, growing at a CAGR of 11.1% from 2016 to 2022.
Microelectromechanical systems (MEMS) are micrometer-scale devices that integrate electrical and mechanical elements. High adoption in smartphones, thriving portable electronic market, increasing popularity of Internet of things (IoT), and robust demand in the automation industry is driving the growth of the overall MEMS market. The sensor manufacturing companies use MEMS technology to fabricate a wide range of sensors, owing to its low power consumption, small size, and high precision. These manufacturers are developing new MEMS-based sensors for various applications to increase their market presence in distinctive areas as well as globally.
The MEMS market is consolidated with top five players, which covered nearly 70% share of the overall market in 2015. As of 2015, Robert Bosch GmbH held the largest market share globally, followed by ST Microelectronics N.V. Further, market players are collectively focusing on to incorporate MEMS into a wide range of electronics and simplify its integration. Product launch, partnerships, agreement, and strategic investments are anticipated to be the most effective way for semiconductor companies to gain maximum market share in emerging markets.
The global MEMS market is segmented on the basis of type, industry vertical, and geography. Based on type, the market is divided into sensors (gyroscopes, accelerometers, pressure sensors, inertial combos, microphones, magnetometers, and others) and actuators (inkjet systems, optical MEMS, oscillators & resonators, microfluidic & bio-chips, RF MEMS, and others). Based on industry vertical, it is categorized into consumer electronics, automotive, industrial, aerospace & defense, healthcare, and telecommunication. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Global MEMS Market Scenario
MEMS is extensively used in smartphones, wearable devices, and other electronic devices, owing to its enhanced electrical performance at high frequencies. The MEMS market is expected to gain popularity as the consumer electronics industry is shifting its focus from traditional sensors to MEMS technology. Smartphone manufacturing companies have increased the number of MEMS in their devices to enhance the overall user interface experience and to gain a competitive edge over their competitors in the market.
Top Investment Pockets
Consumer electronics and automotive industries hold high growth potential for variety of applications, and these industries are already generating substantial revenue. The growth is due to increase in popularity of wearable devices and smartphones, and rise in concerns for passenger safety and regulatory norms as MEMS devices are extensively used in cars for air bags, electronic stability control, tire pressure monitoring, and other safety features. Moreover, the automotive and aerospace & defense segments are analyzed to be the most attractive end-user industries of the MEMS market. The advent of MEMS is expected to create new growth opportunities in healthcare applications, owing to increasing demand of handheld medical devices.
Increase In Popularity of Internet of Things (IoT)
Internet of Things (IoT) is a technology for providing Internet or internetworking for applications such as smartphones, microwaves, refrigerators, and buildings. IoT uses electronic software, sensors, and actuators connecting connect all these devices to a common network. It is a rapidly growing technology and in terms of number of connected devices, it has grown from about 9 billion in 2012 up to 23 billion in 2016. This technology incorporates several MEMS sensors such as accelerometers, pressure sensors, and inertial combos. Significant growth in IoT market is anticipated to foster the growth in the overall MEMS market during the next five to six years.
- This report provides an in-depth analysis of the global MEMS market, along with current trends and future estimations to identify lucrative investment opportunities.
- Key drivers, opportunities, and restraints that impact the market are analyzed.
- Porter’s Five Forces analysis highlights the potency of buyers & suppliers to facilitate better business decisions for stakeholders and strengthen their supplier & buyer networks.
- Market estimation of geographical regions is based on the current market scenario and future trends.
Microelectromechanical Systems (MEMS) Market Key Segmentation
- Pressure Sensors
- Inertial Combos
- Others (Environment and Optical Sensors)
- Inkjet Systems
- Optical MEMS (Projection Systems, Autofocus, Micromirror, and Micro-displays)
- Oscillator & Resonators
- Microfluidic Bio-chips
- RF MEMS
- Others (PIR and Thermopiles, Microbolometers, and Digital Compasses)
By Industry Vertical
- Consumer Electronics
- Aerospace & Defense
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East