MEMS and Sensors Market Size, Share, Growth Analysis, Business Opportunities, Competitor Strategies and COVID Impact

Market Overview

According to the latest report, the global MEMS sensors market size is estimated at USD 3.77 billion in 2021 and is expected to grow at a significant CAGR of 4.8% with a market size of 5.24 during the forecast period 2021-2028 billion USD.

Microelectromechanical systems (MEMS) are also referred to as micromachines and microsystems technology or MST. This is a type of technology composed of electronic and mechanical components such as sensors, actuators, microelectronics and miniaturized structures. This technology is used to manufacture sensors such as accelerometers, digital compasses, gyroscopes, pressure sensors, inertial modules, microphones and humidity sensors. Because they have excellent characteristics such as small size, low power consumption and high precision, these MEMS are preferred by the manufacturing companies for manufacturing various sensors.

Device miniaturization is highly demanded in electronic devices such as wearable devices, smartphones, medical instruments, etc., accelerating the growth of MEMS sensor market. The MEMS devices have advantages such as low cost, high accuracy and smaller footprint, which makes them ideal for use in various applications. The decline in average selling prices (ASPs) may increase demand for MEMS devices. These devices are soldered directly onto the circuit boards since they are small enough. Thus, it reduces technology costs. In addition, factors such as the increasing adoption of smartphones, the growing popularity of the Internet of Things (IoT) and the high demand in the automation industry are fueling the growth of the MEMS market.

The market opportunities for MEMS sensors are growing trends towards autonomous vehicles and the increasing adoption of MEMS sensors in the biomedical sector increases the growth of the market.

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market segmentation

the Market for MEMS and sensors is divided into three forms such as types, material and application.

Type segmentation: The MEMS sensors are classified into different types such as environmental, pressure, inertial, microphone and optical sensors.

Material Segmentation: The MEMS sensors by material segment are categorized into four material types: metal, silicon, polymer and ceramic.

Application Segmentation: By application segment, the MEMS sensors are classified into various forms such as aerospace, defense, industrial, consumer electronics, healthcare and automotive.

Regional Analysis

According to the latest updates, the global MEMS sensors market is segmented into four major regions such as Asia-Pacific, North America, Europe and the rest of the world. Among them, North America is expected to hold the highest market share due to the earlier adoption of advanced technologies and the presence of leading market players such as Bosch, Texas Instrument, Allego Microsystems, Qualcomm, Honeywell and Invensense. Asia Pacific is expected to be the fastest growing region due to increasing demand for consumer electronics such as smartphones and laptops. Increasing miniaturization and the growing automotive industry are driving market growth in this region. In addition, increasing government initiatives to promote electronics are driving the MEMS market in India and China in this region.

The major players in the MEMS sensors market are Denso Corporation (Japan), Panasonic (Japan), Invensense, Qualcomm (US), Honeywell (US), Texas Instruments (US), Allego Microsystems (US) and others.

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Industry News

According to the latest updates, the MEMS Sensors market forecast states that the sensors market will achieve immense growth during the reporting period owing to the rising trend of autonomous vehicles and the introduction of new sensor types such as 4-in-1 environmental MEMS sensors with AI and humidity , gases, temperature and barometric pressure in a single compact package to reduce instrument costs.

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