by Microelectromechanical systems (MEMS) refers to tiny integrated devices or systems that combine mechanical and electrical components using micromachining processes. MEMS devices range in size from a few micrometers to millimeters and are fabricated using specialized processes that have been developed through the collective fields of microfabrication, microelectronics, and material science. Common MEMS devices include tiny accelerometers that are found in sensing applications in various consumer electronics, such as mobile phones. They are also deployed in automotive airbag systems, gaming peripherals, surgical instruments, and others.
The global MEMS market is estimated to be valued at US$ 27946.62 Mn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Increasing demand for MEMS devices from various industries such as consumer electronics, automotive, industrial, healthcare, and others is expected to flourish the growth of the global MEMS market over the forecast period. As per the report, the global demand for MEMS devices is driven by the increasing proliferation of smartphones, tablets, gaming consoles, wearable devices, and IoT applications. MEMS sensors like gyroscopes, accelerometers, magnetometers are increasingly utilized in such devices and applications to enable motion sensing, positional awareness, and navigation capabilities. Moreover, growing demand for miniaturized and integrated MEMS devices from the automotive sector for deployment in airbags, sensing systems like tire pressure monitoring systems, and infotainment systems is expected to further propel the market growth over the forecast period.
Segment Analysis
The Microelectromechanical Systems (MEMS) market is segmented by type into sensors, actuators, and others. The sensors segment is dominating the market and accounts for over 50% share of the total market. Sensors form an important part of MEMS devices and find widespread application in industries like consumer electronics, automotive, industrial, etc. Advantages of MEMS sensors like small size, reliability, robustness, low power consumption have increased their demand across industries.
Pest Analysis
Political: Rules and regulations regarding use of MEMS technology vary in different regions which can impact trade. However, supportive government policies promote innovation and R&D in MEMS.
Economic: Growth of user industries like consumer electronics and automotive fuels demand for cost-effective MEMS solutions. Customized MEMS for niche applications also present new opportunities.
Social: Consumer preference for miniaturization and technologies improving lifestyle and safety has increased uptake of MEMS integrated devices.
Technological: Advancements in materials, fabrication processes, and design have enhanced functionality and performance of MEMS. Integration with IoT further augments their application scope.
Key Takeaways
The global Microelectromechanical Systems (MEMS) Market Demand size was valued at US$ 27,946.62 million in 2023 and is expected to witness high growth over the forecast period. The Asia Pacific region dominates the market and accounts for over 40% share attributable to presence of huge consumer base and vibrant electronics industry in China and other emerging economies.
Regional analysis comprises: North America is another major region for MEMS market supported by strong electronics industry and technological advancements. Usage of MEMS across diverse fields like automotive, industrial, medical, etc. has spurred growth.
Key players related content comprises: Key players operating in the MEMS market are Nxp Semiconductors N.V., Analog Devices, Inc., and Knowles Corporation. These players have established market presence through extensive R&D and new product launches catering to customized industry requirements.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
