The Global Microelectromechanical Systems (MEMS) Market size is expected to reach $131.8 billion by 2028, rising at a market growth of 8.4% CAGR during the forecast period.
Microelectromechanical systems (MEMS) are devices with mechanical and electrical components integrated at the micrometer size. The electrical and mechanical components of micro-electromechanical systems (MEMS) technology are very tiny and moveable. With the use of this technology, sensors, including microphones, inertial modules, digital compasses, accelerometers, gyroscopes, pressure sensors, humidity sensors, and gyroscopes, may be made.
The MEMS market has expanded due to the impending demand for devices shrinking in a variety of electronic products, including smartphones, wearable technology, medical equipment, and other electronic devices. Due to falling average selling costs and growing advantages of MEMS devices, including such cheap cost, little space needed, and high precision, there is an ongoing increase in demand for these gadgets.
Furthermore, the technological cost is decreased since these components are tiny enough to be directly soldered into the circuit boards. MEMS is essential to the automation industry. Sensitivity, dependability, scalability, and an affordable design are all features of MEMS technology. This opens up additional automation career prospects.
These technologies are essential to the industry because they enable faster production rates and increased throughput. Application areas for MEMS accelerometers and gyroscopes in industrial automation are many. Because of their tiny size, great durability, and low power requirements, MEMS sensors may be an essential component of almost every industrial automation device.
The electronics and semiconductor industries have been greatly impacted by the advent of COVID-19. Due to an upsurge in COVID-19 cases, businesses and manufacturing facilities worldwide were shut down, and it is anticipated that these facilities will stay shut in 2021. Additionally, telecommunications and the medical sector have profited, while civil aviation, transportation, and the automobile sectors have all suffered. On the consumer, mobile, and industrial markets, the effects have been mild. The perception of the present global industrial supply chain is also changing as a consequence of COVID-19, which may lead to further regionalization and localized value chains to lessen risks similar to those posed by the pandemic and the first shutdown. MEMS companies will either connect numerous sensors to create sensor hubs, or they will add processing, algorithms, and software to add value and escape the cycle of commoditization. The COVID-19 lockdown's effects include widespread production disruption in Europe and a halt to the export of Chinese components, which might hurt the worldwide MEMS industry.
The majority of consumer devices like tablets, smartphones, and smartwatches have integrated microphones in them. The demand for microphones is further fuelled by the rise in demand for these devices. Devices like tablets and mobile phones require compact, thin, and low-power-consuming components. As the number of audio applications and features increases, microphone technology becomes more crucial.
For a long time, microphones have been deployed across a wide range of industrial applications for voice applications and communication. In the last couple of years, microphones have been deployed in various industrial applications like sound power testing, general sound measurement, and noise source testing for white goods like power hand tools, heating & air conditioning systems, and small household appliances.
The sensors and actuators made feasible by microsystems design are presently manufactured using thin film methods. Even if their performance is often constrained, such devices benefit greatly from the use of tried-and-true, low-cost manufacturing methods that are mostly based on silicon and directly developed by the semiconductor industry. High-quality equipment, and sometimes whole facilities, become obsolete as the semiconductor sector investment cycle pursues increases in performance and functionality via smaller feature sizes and bigger wafers to spread the production expenses across more devices.
Based on type, the Microelectromechanical Systems (MEMS) Market is divided into Actuators and Sensors. The sensors market category had the most revenue share in 2021. The Internet of Things (IoT) has a huge need for small, inexpensive sensors that can monitor every step of manufacturing in order to support new applications and business models. The information from these sensors will probably be sent to other nodes in the manufacturing network. They must perform dependably despite the challenging electrical and mechanical environment.
Based on End-user, the Microelectromechanical Systems (MEMS) Market is divided into Consumer Electronics, Automotive, Industrial, Aerospace and Defense, Healthcare, Telecommunication, and Others. The market's considerable revenue share was produced by the automotive sector in 2021. The car industry has been much more electrified recently, which has greatly increased demand for various electric components. The automotive industry is experiencing a significant shift as a result of the growing demand for electric cars, which necessitates reducing the weight and improving the efficiency of new EVs.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 75.5 Billion |
| Market size forecast in 2028 | USD 131.8 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 8.4% from 2022 to 2028 |
| Number of Pages | 316 |
| Number of Tables | 500 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Type, End User, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on geography, the Microelectromechanical Systems (MEMS) Market is categorized into North America, Europe, Asia Pacific, and LAMEA. Due to the rapid expansion of the telecom, consumer electronics, and automotive sectors, APAC led the MEMS Market with the major revenue share. Additionally, Microelectromechanical System (MEMS) market technology is more prevalent in numerous aerospace & military, energy & power, and other industries in economically developed countries, which is expected to considerably contribute to the market's development.
Free Valuable Insights: Global Microelectromechanical Systems (MEMS) Market size to reach USD 131.8 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Analog Devices, Inc., Broadcom, Inc., HP Development Company, L.P., NXP Semiconductors N.V., Panasonic Corporation, Robert Bosch GmbH, STMicroelectronics N.V., Texas Instruments, Inc., IBM Corporation, and Canon, Inc.
By Type
By End User
By Geography
The global Microelectromechanical Systems (MEMS) Market size is expected to reach $131.8 billion by 2028.
The Growing Popularity Of Advanced Consumer Electronics are driving the market in coming years, however, Expensive Raw Materials restraints the growth of the market.
Analog Devices, Inc., Broadcom, Inc., HP Development Company, L.P., NXP Semiconductors N.V., Panasonic Corporation, Robert Bosch GmbH, STMicroelectronics N.V., Texas Instruments, Inc., IBM Corporation, and Canon, Inc.
The expected CAGR of the Microelectromechanical Systems (MEMS) Market is 8.4% from 2022 to 2028.
The Consumer Electronics segment acquired maximum revenue share in the Global Microelectromechanical Systems (MEMS) Market by End User in 2021 thereby, achieving a market value of $37.6 billion by 2028.
The Asia Pacific market dominated the Global Microelectromechanical Systems (MEMS) Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $48.9 billion by 2028.
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