Microelectromechanical Systems (MEMS) Market Global Scenario, Market Size, Outlook, Trend and Forecast, 2016 – 2025
Global Microelectromechanical Systems (MEMS) Market size is projected to be valued $35 Billion by 2024; with a CAGR of 11.6% from 2017 to 2025.MEMS, also known as micromechanics or microsystems technology; is the technology of microscopic device that has both electrical and mechanical components. The dimensions can range from 20 micrometers to a millimeter. MEMS technology can create entirely new products such as less expensive, multi-axis inertial motion sensors, useful for smartphone-based navigation and Digital Micromirror Devices (DMD) used for efficient, high speed and reliable spatial light modulation in industry, telecom, medical and others. MEMS can also be used in micro-mirror arrays for high definition project systems, sensor-driven heating, and cooling systems, micro nozzles to control the flow of ink in inkjet printers and among others.
An upsurge in consumer and automotive applications and consumers' preference towards improved features in their vehicle could support the growth of the market. Further, rising technological developments which have resulted in a decrease in the size of devices and the rising popularity of wearable devices are also expected to drive the market. However, the absence of technical awareness and lack of standardization and accuracy may hamper the growth of the market. Furthermore, new innovations such as smart homes and smart health would provide an admirable opportunity for the market.
Product type, industry vertical and geography are the segments of the global microelectromechanical systems (MEMS) market. Product type is further segmented into sensors (accelerometer, gyroscope, pressure sensor, inertial combos, microphone, magnetometer and others such as environment and optical sensor), actuators (inject systems, optical MEMS such as projection system, autofocus, micromirror and microdisplays, oscillators & resonators, microfluidic & bio-chip, RF MEMS and others which include PIR & thermopiles, microbolometers and digital compass). Industry verticals can further be segmented into consumer electronics, automotive, industrial, aerospace and defense, healthcare and telecommunication.
On the basis of geography, global microelectromechanical systems (MEMS) market is segmented into North America, Europe, Asia-Pacific and rest of the world (RoW). The U.S., Mexico, and Canada are covered under North America wherein Europe covers France, Germany, United Kingdom, Spain, and others. Asia-Pacific covers China, India, Japan, South Korea, and others. Rest of the world (RoW) covers South America, the Middle East, and Africa.
Major companies operating in the global microelectromechanical systems (MEMS)market are Robert Bosch GmbH (Germany), STMicroelectronics (Switzerland), Texas Instruments Inc. (U.S.), Hewlett-Packard Company (U.S.), Knowles Electronics (U.S.), Canon Inc. (Japan), Denso Corporation (Japan), Panasonic Corporation (Japan), Avago Technologies (Singapore), InvenSense, Inc. (U.S.), Analog Devices, Inc. (U.S.) and Sensata Technologies, among others.amongothers.
The key takeaways from the report
Scope of the Global MicroelectromechanicalSystems (MEMS) Market
Product Type Segments
Industry Vertical Segments