Market Scenario
Global MEMS and Sensors Market is registered to meet the market Share of USD 26.1 Billion by the end of 2023, at a CAGR of 9.78% for the forecast period 2018 to 2023.
Microelectromechanical systems (MEMS) are micrometer-scale devices that integrate electrical and mechanical elements. This technology includes very small, moving mechanical parts, and electrical components and is used to fabricate sensors such as accelerometers, gyroscopes, digital compasses, inertial modules, pressure sensors, humidity sensors, and microphones.
Impending need of device miniaturization in various electronic devices such as smartphones, wearable devices, medical instruments, and other electronic devices fuel the growth of the MEMS sensor market. The demand for these devices is on a continuous rise with the decline in average selling prices (ASPs) and increase in benefits of MEMS devices, such as low cost, less space consumption, and high accuracy. Moreover, these devices are small enough to be soldered directly onto the circuit boards, which reduces the cost of the technology.
High adoption in smartphones, developments in the portable electronic market, increase in popularity of Internet of Things (IoT), and robust demand in the automation industry drive the growth of the overall microelectromechanical system (MEMS) sensor industry. 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.
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Healthcare segment is estimated to hold high growth potential. The MEMS technology is used in medical research, diagnostic application, and in medical devices such as endoscopic pills and insulin micro pumps. Government initiatives, rising healthcare expenditure, and technological advancements are estimated to boost healthcare segment over the forecast period. Increasing preference of consumer towards home medical monitoring in order to reduce hospital cost and penetration of health monitoring wearable devices is estimated to trigger the use of the technology and open new paths for the industry players.
The major growth driver of MEMS & Sensors Market includes growing demand for security in automobile industries, growing consumer electronics market, and innovative government regulations for energy efficient applications among others. However, functional and operational issues are one of the major factors which are hindering the growth of Micro-electro-mechanical systems Sensor Market .
Key Players:
- Panasonic (Japan)
- Murata Manufacturing Co (Japan)
- Denso Corporation (Japan)
- Hitachi Ltd (Japan)
- Invensense (US)
- Hewlett Packard (US)
- Honeywell (US)
- Qualcomm (US)
- Infineon (Germany)
- STMicroelectronics (Europe)
- Robert Bosch GmbH (Germany)
- NXP Semiconductors (Netherlands)
- Texas Instruments (US)
- Allego microsystems (US)
- Mega Chips Corporation (Japan)
Segments:
The MEMS & Sensors Market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding.
Segmentation by materials: Comprises Silicon, polymers, metals and ceramics among others.
Segmentation by component: Sensors (Pressure sensors, humidity sensors, temperature sensors, accelerometers) and Actuators (optical, microfluidics, Inkjet head) among others.
Segmentation by application: Comprises consumer electronics, healthcare, industrial, aerospace & Defense, and automotive among others.
Segmentation by Regions: Comprises Geographical regions - North America, Europe, Asia Pacific and Rest of the World.
Regional Analysis
In terms of different geographic region, Asia Pacific region holds the maximum share in the market in 2016 and is expected to grow at rapid rate through the forecast period. Asia Pacific is a major market for consumer electronics, automotive, and industrial verticals. Moreover, Asia Pacific has become a global central point for large investments and business expansion opportunities. North America holds the second largest place in terms of market share in the global MEMS and sensors market. Due to the presence of sensor manufacturing companies, the growing home automation, and the adoption of evolving technologies makes North America to hold its share in the global competition.
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