Global MEMS Market Size To Exceed USD 64.15 Billion by 2032 | CAGR of 8.4%Category: Semiconductors & Electronics
Global MEMS Market to Exceed $64.15 Billion by 2032
According to a research report published by Spherical Insights & Consulting, the Global MEMS Market Size is to grow from USD 28.6 billion in 2022 to USD 64.15 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 8.4% during the projected period.
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Browse key industry insights spread across 200 pages with 130 market data tables and figures & charts from the report on ''Global MEMS Market Size, Share, and COVID-19 Impact Analysis, By Sensor Type (Inertial Sensors, Pressure Sensors, Gyroscope, Gas Sensors, Environmental Sensors, Optical Sensors, Others), By Actuator Type (Optical MEMS, Microfluidic & Biochip, Inkjet Systems, RF MEMS, Others), By End-Users (Automotive, Consumer Electronics, Defense, Aerospace, Industrial, Healthcare, Telecommunication, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032.'' Get Detailed Report Description Here:https://www.sphericalinsights.com/reports/mems-market
Micro-electromechanical systems (MEMS) are a type of manufacturing method used to create small interconnected systems or devices that include both electrical and mechanical components. These technologies or systems can detect, control, and act on the micro-scale while simultaneously having an impact on the broader scale. MEMS, in its most general form, consists of mechanical microstructures, microsensors, microactuators, and microelectronics all installed on the same silicon substrate. The MEMS market is being driven by the increasing demand for MEMS in various markets such as the electronics industry, automotive, industrial, and healthcare. Furthermore, the growing use of radio-frequency MEMS systems, the increasing demand for Internet of Things (IoT) devices, and rising consumer electronics demand are all major factors driving the MEMS market. Furthermore, the widespread use of smartphones, the developing portable electronic market, the rising use of the Internet of Things (IoT), and the high demand for robotics and automation all contribute considerably to the global expansion of the MEMS market.
The consumer electronics segment accounted for the largest revenue share of more than 34.8% over the forecast period.
On the basis of end-users, the global MEMS market is segmented into automotive, consumer electronics, defense, aerospace, industrial, healthcare, telecommunication, and others. Among these, the consumer electronics segment is dominating the market with the largest revenue share of 34.8% over the forecast period. MEMS is extensively used in wearable devices and smartphones due to its excellent electrical performance at high frequencies. As the consumer electronics industry changes its focus from traditional sensors to MEMS technology, these applications fuel MEMS technological improvements.
The optical MEMS segment is witnessing significant CAGR growth over the forecast period.
On the basis of actuator type, the global MEMS market is segmented into optical MEMS, microfluidic & biochip, inkjet systems, RF MEMS, and Others. Among these, the optical MEMS segment is witnessing significant CAGR growth over the forecast period. An actuator is a device that turns an electrical signal into motion. It can generate force to control itself, other mechanical devices, or the surrounding environment in order to accomplish some beneficial tasks.
The inertial sensors segment is dominating the market with the largest revenue share over the forecast period.
On the basis of sensor type, the global MEMS market is segmented into inertial sensors, pressure sensors, gyroscopes, gas sensors, environmental sensors, optical sensors, and others. Among these, the inertial sensors segment is dominating the market with the largest revenue share of 38.6% over the forecast period. The increased use of inertial sensors such as accelerometers, gyroscopes, magnetometers, and inertial combo sensors in end-user and wearable electronics for GPS-based services, gaming, and preinstalled navigator applications providing screen orientation and undoing actions by shaking the wearable device can be attributed to the increase in demand.
Asia Pacific dominates the market with the largest market share over the forecast period.
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Asia Pacific is dominating the market with more than 32.67% market share over the forecast period. This growth can be attributed to the large number of semiconductor manufacturing sectors. Asia Pacific is a major global market for consumer electronics, automobiles, and industrial machinery. Furthermore, the cheap cost of labor and raw materials, which leads to lower manufacturing costs, is promoting regional market expansion. On the other hand, North America is predicted to expand the fastest during the forecast period. This is because MEMS device sales have expanded to meet expanding demand from the region's aerospace, defense, and automotive industries. During the forecast period, the Europe market is expected to rise at a significant CAGR.
Major vendors in the Global MEMS Market include Advantech, Inc., Panasonic Corporation, Maple Systems, INC., Pepperl+Fuchs GmbH, LG Display Co., Ltd., Schneider Electric SE, Sharp NEC Display Solutions, Ltd., Rockwell Automation, Inc., Japan Display, Inc., WinMate, Inc., Siemens AG, Innolux Corporation, AU Optronics Corp., NEC Display Solutions, Samsung Display Co., Ltd., Planar Systems, Inc., and among others.
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- On January 2023, Knowles Corporation announces the Titan (Digital), Falcon (Differential Analog), and Robin (Single Ended Analog) family of SiSonicTM MEMS microphones. The new trio of microphones offers superior performance for space-constrained Ear and wearable applications such as True Wireless Stereo (TWS) earbuds, smart watches, Augmented Reality (AR) glasses, and Virtual Reality (VR) headsets.
- On March 2023, Analog Devices, Inc. announced that Envision Energy, an Envision Group affiliate that provides world-leading green technologies, will use ADI's MEMS sensor technology in its new generation of smart wind turbines. The collaboration's first goals include enabling new levels of wind turbine safety through real-time monitoring of vibration, tilt, and other data that may be utilized to influence safer windmill operation and design. Taking advantage of new capabilities provided by sophisticated MEMS sensors provides intelligence at the edge for real-time monitoring, propelling the green energy revolution forward.
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global MEMS Market based on the below-mentioned segments:
MEMS Market, Sensor Type Analysis
- Inertial Sensors
- Pressure Sensors
- Gas Sensors
- Environmental Sensors
- Optical Sensors
MEMS Market, Actuator Type Analysis
- Optical MEMS
- Microfluidic & Biochip
- Inkjet Systems
- RF MEMS
MEMS Market, End-Users Analysis
- Consumer Electronics
MEMS Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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