Microelectromechanical Systems Market

Microelectromechanical Systems Market Size

Microelectromechanical Systems (MEMS) to surpass USD 105.5 billion by 2032 from USD 44.41 billion in 2021 at a CAGR of 8.2% in the coming years, i.e., 2022-32.

Micro-Electro-Mechanical Systems is a process technology that enables the production of minute integrated systems or devices, which combine electrical and mechanical components. MEMS can be made in sizes ranging from a few micrometers to millimeters using integrated circuit batch processing processes. These tools or systems are capable of microscale sensing, control, and actuation as well as macroscale effects generation. The wide variety of applications and industries that use MEMS devices also demonstrate the complexity of the technology. They are used in multiple systems in defense, medical, automotive, electronic, and other fields. MEMS, one of the most promising technologies for the twenty-first century has the potential to revolutionize both industrial and consumer products by fusing silicon-based microelectronics with micromachining technology.

Market Highlights

The Microelectromechanical Systems (MEMS) Market is expected to project a notable CAGR of 8.2% in 2032.

Microelectromechanical Systems (MEMS) to surpass USD 105.5 billion by 2032 from USD 44.41 billion in 2021 at a CAGR of 8.2% in the coming years, i.e., 2022-32. The widespread use of MEMS in smartphones, the booming portable electronics market, the growing acceptance of the Internet of Things (IoT), and the solid demand in the automation sector all contribute to the Microelectromechanical Systems (MEMS) Market growth. Due to its low power consumption, compact size, and great precision, MEMS technology is used by sensor manufacturing businesses to create a variety of sensors. These manufacturers are creating new MEMS-based sensors for a range of uses in an effort to expand the Microelectromechanical Systems (MEMS) Market globally and also in specific regions.

Microelectromechanical Systems (MEMS): Segments

The Sensors segment is expected to grow with a higher CAGR during 2022-32

Microelectromechanical Systems (MEMS) Market is categorized on the basis of Type into Sensors and Actuators. Sensors are further divided into Inertial, Pressure, Microphone, Environmental, and Optical. Actuators are also further classified as Optical, Inkjet Head, Microfluidics, and Radio Frequency. In terms of revenue, the sensors segment dominated the market in 2021, and it is anticipated to continue throughout the forecast period as well. During the anticipated period, the inertial sensor type is anticipated to account for a large portion of the Microelectromechanical Systems (MEMS) Market. This rise is related to the expanding use of inertial sensors in automotive applications including electronic stability control (ESC), traction control system (TCS), and anti-lock braking system.

The Automotive segment is expected to grow with a higher CAGR during 2022-32

Microelectromechanical Systems (MEMS) Market is categorized on the basis of Application into Consumer Electronics, Automotive, Aerospace & Defence, Healthcare, Telecommunications, and Industrial. Over the forecast period, the automotive segment is anticipated to hold a higher market share. The car industry has been much more electrified recently, which has greatly increased demand for various electric components. The automotive industry is undergoing a significant shift as a result of the growing demand for electric vehicles, which necessitates reducing the weight and improving the efficiency of new EVs.

Market Dynamics

Growth Drivers

Growing Use of IoT Devices, Higher Proliferation of Smartphones, and SC Packaging

Wearable technology has advanced significantly as MEMS devices are more widely used today and this drives the demand for smaller components. The expanding popularity of IoT devices, the proliferation of smartphones, and improvements in semiconductor packaging are the main drivers of the Microelectromechanical Systems (MEMS) Market. Companies that manufacture micro-electromechanical systems are investing in the study and creation of new systems that are more effective and incorporate cutting-edge technologies like AI and sensors. The Microelectromechanical Systems (MEMS) Market is projected to be impacted by the growing demand for AI and automation solutions, which is expected to drive innovation in MEMS with integrated AI technologies.

Benefits Offered by MEMS Technology and Growing Applications in Automotive & Medical Industry

The growth in demand for microelectromechanical systems will be directly fueled by new trends in the automotive sector and technology (MEMS). The technology known as a micro-electro-mechanical system (MEMS) is effective, efficient, and small. This will help the market progress more significantly. MEMS is a type of micro-electro-mechanical system, which is employed in a number of laparoscopic and blood pressure monitoring equipment. Thus, the development of the healthcare or pharmaceutical industries will have a direct and favorable influence on the development of micro-electro-mechanical systems (MEMS).

Restraint

Fluctuations in the Prices of Raw Materials and Lack of Standardization in Fabrication Process

A significant growing constraint on the Microelectromechanical Systems (MEMS) Market will be the lack of standardization in the fabrication process. The growth of the Microelectromechanical Systems (MEMS) Market would be hampered by fluctuations or instability in raw material prices. Inadequate technological infrastructure in underdeveloped economies is also expected to hamper the growth of the market. Sensors add added cost to gadgets when they are used. This will again contribute to the slow rate of market growth.

Recent Developments

• RoboSense LiDAR, a well-known company in the Shenzhen, China, LiDAR sensor market, made an announcement in December 2021 that it would introduce the first mass-produced automotive-grade MEMS solid-state LiDAR at CES 2022.
• Silicon Designs Inc. announced the launch of new MEMS accelerometers for space applications in January 2022. The Model 1527 series is a collection of brand-new, radiation-tested, tactical-grade micro-electromechanical inertial accelerometers for use in satellites and other spacecraft.

Microelectromechanical Systems (MEMS):

Key Players

• Robert Bosch GmbH

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

• Panasonic Corporation
• Canon Inc.
• Honeywell International Inc.
• TE Connectivity Corporation
• Denso Corporation
• Taiwan Semiconductor Manufacturing Co. Ltd.
• STMicroelectronics N.V.
• NXP Semiconductors N.V.
• Texas Instruments Inc.
• Analog Devices Inc.
• Sensata Technologies Holding N.V.
• Broadcom Ltd.
• InvenSense Inc.
• Knowles Corporation
• Other Prominent Player     

Microelectromechanical Systems (MEMS): Regions

Microelectromechanical Systems (MEMS) Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. The Microelectromechanical Systems (MEMS) Market was dominated by Asia Pacific (APAC), and it is anticipated to expand at a higher CAGR during the projected period. Consumer electronics, industrial verticals, and automotive all have significant markets in APAC. APAC has also developed into a key worldwide hub for significant investments and prospects for corporate growth.

Impact of Covid-19 on Microelectromechanical Systems (MEMS) Market

In 2020, numerous markets collapsed and suffered significant losses as pandemic swamped the globe in illnesses and brought the global economy to a screeching halt. Global lockdown orders severely disrupted demand and supply lines, reduced industrial activity to a minimum, and rendered many trade-related activities ineffective. Demand for microelectromechanical system shipments decreased in 2020 as a result of the cessation of manufacturing activity. Major MEMS producers suffered enormous losses as a result of the pandemic's costly shutdown of several manufacturing sites. The epidemic negatively impacted market potential and disrupted research and development activity as well.

Microelectromechanical Systems (MEMS) is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Microelectromechanical Systems (MEMS) report also contains analysis on:

Microelectromechanical Systems (MEMS) Segments:

• By Type
  • Sensors
    • Inertial
    • Pressure
    • Microphone
    • Environmental
    • Optical
  • Actuators
    • Optical
    • Inkjet Head
    • Microfluidics
    • Radio Frequency (RF)
• By Application
  • Consumer Electronics
  • Automotive
  • Aerospace & Defence
  • Healthcare
  • Telecommunications
  • Industrial
• Microelectromechanical Systems (MEMS) Market Dynamics
• Microelectromechanical Systems (MEMS) Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints

Microelectromechanical Systems (MEMS) Market Report Scope and Segmentation

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