Global Microelectromechanical Systems (MEMS) Market is estimated to reach $35 billion by 2024; growing at a CAGR of 11.4% between 2016 and 2024. MEMS also known as micromechanics or micro systems 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, micronozzles to control the flow of ink in inkject printers and among others.
Increasing growth in consumer and automotive application segment and consumers inclination towards enhanced features in their vehicle could support the growth of the market. Moreover, rising technological advancements which has resulted into the reduction in size of devices and growing popularity of wearable devices are also expected to drive the market. However, lack of technical awareness and lack of standardization and accuracy may hinder the growth of the market. Furthermore, new innovations such as smart homes and smart health provide excellent opportunity for the market. Increased use in defense and medical also provide opportunity in the upcoming years.
The MEMS market is segmented based on the product type, industry vertical and geography. Product type is further segmented into sensors (accelerometer, gyroscope, pressure sensor, inertial combos, microphone, magnetometer and others such as environment and optical sensor), actuators (inkject systems, optical MEMS such as projection system, autofocus, micromirror and micro displays, oscillators & resonators, micro fluidic & bio-chip, RF MEMS and others which include PIR & thermopiles, microbolometers and digital compass).Industry vertical can further be segmented into consumer electronics, automotive, industrial, aerospace and defense, healthcare and telecommunication.
By geography the 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, Middle East and Africa.
The key market players in MEMS market include 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.
The key takeaways from the report
- The report will provide detailed analysis of Microelectromechanical Systems Market with respect to major segments such as industry vertical and product type
- The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities is inlcuded in the report
- An exhaustive regional analysis of Microelectromechanical Systems Market will be provided in the report
- Profile of the key players in the Microelectromechanical Systems Market will be provided, which include key financials, product & services, new developments and businee strategies
Scope of Microelectromechanical Systems (MEMS) Market
Product Type Segments
- Pressure sensor
- Inertial combos
- Others (Environment and Optical Sensor)
- Inkjet systems
- Optical MEMS (Projection System, Autofocus, Micromirror, and Micro Displays)
- Oscillators and Resonators
- micro fluidic and bio-chip
- RF MEMS
- Others (PIR and Thermopiles, Microbolometers, and Digital compass)
Industry Vertical Segments
- Consumer Electronic
- Aerospace and Defence
- North America
- United Kingdom
- South Korea
- South America
- Middle East