MEMS Market Overview
As per the business analytics market research report from IndustryARC, the global microelectronic mechanical systems (MEMS) market size is around $11 billion to $12 billion, with a robustly increasing CAGR of 15% to 18% during the forecast period of 2019 to 2025. The demands for MEMS technology and MEMS-based sensors have raised exponentially in the past decade. The saturated regions in the west have resulted in a market shift for micromachines. Currently, the Asia-Pacific region holds the maximum market share of around 32% to 35% as of 2018. Molecular electronics, molecular nanotechnology, nanoelectromechanical systems, or simply MEMS devices are mostly used in the consumer electronics sector. With an impressive CAGR of more than 16% through the forecast period, the consumer electronics end use industry is expected to be the biggest playground for the MEMS market companies.
MEMS Market Outlook
The outstanding demands for digital micromirror devices, microscopic gyroscope, accelerometers, pressure sensors, microphones, and magnetometers from the automotive and the electronics sector is estimated to raise MEMS market revenue. According to the market analysis from Industry ARC, the global electric vehicles market is flourishing at a swift pace, which is expected to employ a massive number of MEMS devices. Consequently, contributing to the growth in the microelectronic mechanical system’s market.
MEMS Market Growth Drivers
- Technical advancement called the Internet of things (IoT) is escalating at a rapid pace all over the world. To adopt IoT readily, a sea of MEMS devices will be employed. The concept of connected cars and the connected building is bolstering in the developed and developing economies. A tremendous amount of innovation and production in MEMS technology will be carried out to cater the demands coming from this field.
- The medical industry is one of the most lucrative segments for the MEMS marketplace.
- The medical instruments and equipment are leveraging MEMS market products, using them in applications across examining patients with the help of these electromagnetic sensors owing to their traits such as power efficiency, optimum accuracy, and real-time operation.
MEMS Market Trends
MEMS producer InvenSense and the TDK Corporation entered into an agreement recently. The deal marked with the TDK Corp. acquiring all the outstanding InvenSense shares for cash totaling to the acquisition price of $1.3 billion.
MEMS Market Challenges
- The current trend in microsystems market to produce more sensory lighter, smaller, and cost-efficient devices than ever has primed the challenge of incorporating durability and reliable performance among these devices.
- Manufacturing MEMS products for mass-market application is a challenge in the MEMS industry. Companies are trying to tackle this issue with the help of innovative approaches, such as strategic supply chain and new manufacturing processes.
Key Players in the MEMS Market
One of the prominent players in the market, Bosch, produced and supplied around 10 billon units of MEMS sensors through the year 2018. Some of the other key players influencing the MEMS market are: Broadcom, Robert Bosch, Texas Instruments, STMicroelectronics, Qorvo, Hewlett Packar, Knowles Electronics, NXP Semiconductors N.V, Murata Manufacturing, and Samsung.
MEMS Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the MEMS market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of MEMS market, and their specific applications in different types of vehicles.
MEMS Market Report: Industry Coverage
The MEMS market report also analyzes the major geographic regions as well as the major countries in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia