Market Overview
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.
Due to the COVID-19 pandemic, certain types of MEMS sensors have significantly spiked in demand. For instance, the demand for thermopiles and microbolometers used in temperature guns and thermal cameras has increased because of the need for contactless monitoring of people's temperatures. Moreover, real-time polymerase chain reaction (PCR) diagnostic tests for detecting COVID-19 and microfluidics for DNA sequencing are gaining substantial market relevance. The latter serves as a premier method of detecting a bacteria or virus on the molecular level with high degrees of accuracy. Furthermore, pressure and flowmeters in ventilators will grow because of hospital intensive care units (ICUs).
Micro-electro-mechanical systems (MEMS) are also named micromachines and microsystems technology or MST. This is one type of technology that is composed of electronic and mechanical components like sensors, actuators, microelectronics, and miniaturized structures. This technology is used to manufacture sensors like accelerometers, digital compasses, gyroscopes, pressure sensors, inertial modules, microphones, and humidity sensors. As it has excellent characteristics like small size, low power consumption, and high precision, these MEMS are preferred for manufacturing various sensors by the production companies.
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.
The device miniaturization is highly demanded in electronic devices like wearable devices, smartphones, medical instruments, etc are accelerating the MEMS sensors market growth. The MEMS devices have advantages like low cost, high accuracy, and less space consumption which makes them ideal to use in various applications. The decline in average selling prices (ASPs) may raise the demand for MEMS devices. These devices are soldered directly on the circuit boards as they are small enough. Thus it reduces the technology cost. Moreover, the factors like rising adoption of smartphones, the growing popularity of the Internet of things (IoT), high demand in the automation industry are boosting the growth of the MEMS market.
The MEMS Sensors market opportunities are growing trends towards autonomous vehicles and the rise in adoption of MEMS sensors in the biomedical sector is escalating the growth of the market.
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Market Segmentation
The global MEMS sensor market share is analyzed by type, application, and region. Based on type, the market is analyzed across inertial sensors, pressure sensor, optical sensor, environment sensor, and ultrasonic sensor. On the basis of application, 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.
The MEMS and Sensors Market is sectioned into three forms such as types, material, and application.
Type Segmentation: The MEMS sensors is classified into various types like environmental, pressure, inertial, microphone, and optical.
Material Segmentation: The MEMS sensors by materials segment are categorized into four material types metal, silicon, polymer, and ceramic.
Application Segmentation: By application segment, the MEMS Sensors are divided into various forms like aerospace& defense, industrial, consumer electronics, healthcare, and automotive.
Regional Analysis
By the latest updates, the global MEMS Sensors market is partitioned into four major regions such as Asia-Pacific, North America, Europe, and the Rest of the World. Among them, North America is predicted to hold the highest market share due to the adoption of advanced technologies earlier and the presence of leading market players like Bosch, Texas Instrument, Allego microsystems, Qualcomm, Honeywell, and Invensense. Asia-Pacific is expected to be the fastest-growing region due to the rising demand for consumer electronics like smartphones and laptops. Rising miniaturization and the growing automotive industry are enhancing the market growth in this region. Moreover, rising government initiatives for promoting electronics are fueling the MEMS market in India and China in this region.
The MEMS Sensors market key players are Denso Corporation (Japan), Panasonic (Japan), Invensense, Qualcomm(US), Honeywell(US), Texas Instruments(US), Allego Microsystems (US), and others.
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Key Market Trends
Automotive Sector is Expected to hold a Significant Share
- The automotive sector describes MEMS sensors (such as MEMS pressure, MEMS acceleration, and gyroscope sensors) in the automobile industry and the intelligent automobile. The development direction of MEMS sensors is projected in the automotive field. It is widely used in engine e(ABS), electronic stability program (ESP), electronic control suspension (ECS), electric hand brake (EPB), slope starter auxiliary (HAS), tire pressure monitoring (EPMS), the car engine stabilization, angle measurement, and heartbeat detection, and adaptive navigation system inside the car.
- The growing demand for safety and security in automobiles is one of the main factors, which is playing a vital role in the market's growth. According to the WHO, globally, more than 1.35 million people are killed in road accidents every year. The MEMS sensors play a critical role in improving the safety features of the vehicles and act as a catalyst for the growth of the market.
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