The global MEMS pressure sensor market is expected to be valued at USD 2,242.5 Million in 2022. Increasing need for controlling and monitoring systems across various industries, drives the demand for micro-electro-mechanical systems (MEMS) technology based pressure sensors.
| Data Points | Key Statistics |
|---|---|
| MEMS Pressure Sensor Market Value 2022 | USD 2,242.5 Million |
| MEMS Pressure Sensor Market Projected Value (2032) | USD 4,086.9 Million |
| MEMS Pressure Sensor Market CAGR (2022 to 2032) | 6.2% |
MEMS technology used to create miniature integrated devices - combines electrical and mechanical components, further fabricated using integrated circuit (IC) processing techniques. The overall demand for MEMS Pressure Sensors is projected to grow at a CAGR of 6.2% between 2022 and 2032, totalling around USD 4,086.9 Million by 2032.
From 2016 to 2021, sales witnessed significant growth, registering a CAGR of 4.2%. Micro-electro-mechanical systems (MEMS) pressure sensors are widely utilized in applications which require absolute, gauge and differential pressure measurements. MEMS pressure sensors sense on the micro scale and can generate effects on the macro scale.
MEMS Pressure Sensors are widely used in harsh environments, ultra-low pressure ranges, and extremely small size atmospheres. Also MEMS Pressure Sensors are utilized in various energy domains, which include electrical, mechanical, thermal, magnetic, chemical and radiant. The overall demand for MEMS Pressure Sensors is projected to grow at a CAGR of 6.2% between 2022 and 2032, totalling around USD 4,086.9 Million by 2032.
Increased Demand from Automotive Industry Likely to Augment MEMS Pressure Sensor Sales
Increasing demand for MEMS Pressure Sensors from the automotive industry to enhance reliability, reduce cost and improve performance is the key factor driving the growth of MEMS global pressure sensor market during the forecast period. Furthermore, continuous focus on factory automation, rapid development in industrial IoT solutions and improved sensing approach for monitoring & control applications are the factors accelerating the demand for MEMS pressure sensors in the industrial manufacturing sector.
Also, the increasing demand for disposable pressure sensors and continuous innovation in MEMS-enabled medical applications are expected to positively impact the growth of the global MEMS pressure sensor market in medical space. Also, rapid growth in consumer electronics, such as smartphones and home appliances, and rising demand for customized MEMS devices for aerospace and defense applications are expected to fuel the growth of MEMS Pressure Sensor market during the forecast period.
Increasing Awareness of Hazardous Gasses and Compounds to Impede the Growth
Lack of standard fabrication process and technical difficulties in integration and packing process are identified as the restraints likely to deter the progression of global MEMS pressure sensor market during the forecast period.
Rising Market Competition to Boost the Market Growth in North America
The North America MEMS Pressure Sensor market is expected to accumulate a market share of 33.2% in 2022. North America is dominating and contributing the leading shares to the MEMS Pressure Sensor market in terms of revenue and is expected to register a significant growth over a forecast period due to the increasing market competition.
For instance, in February 2022, Abbott announced that the US Food and Drug Administration (FDA) had approved an expanded indication for its CardioMEMS HF System to support the care of people living with heart failure. As a result, an additional 1.2 million USA patients are now eligible to benefit from advanced monitoring with the company's sensor, which marks a significant increase over the current addressable population. The sensor provides an early warning system that enables doctors to protect against worsening heart failure.
Presence of Large Number of Automobile Manufacturers to Boost Market Growth in Europe
The European region is anticipated to hold a market share of 21.7%. Europe is expected to contribute to moderate revenue market share and register a healthy growth rate in the global MEMS Pressure Sensor market due to government initiatives to expand the industrial infrastructure, presence of a large number of automobile and original equipment manufacturers.
Some key startups in the MEMS Pressure Sensor market include axSense Technologies, CEKO Sensors, ACEINNA, Enervibe and many more.
Recent Developments:
Prominent players in the MEMS Pressure Sensor market are Robert Bosch GmbH, Denso, NXP Semiconductors, General Electric, Texas Instruments, Infineon Technologies, MRON Corporation, Infineon Technologies AG, and Melexis and various other regional players.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 6.2% from 2022 to 2032 |
| Market Value in 2022 | USD 2,242.5 Million |
| Market Value in 2032 | USD 4,086.9 Million |
| Base Year for Estimation | 2021 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | End User, Technology, Type, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa (MEA) |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Germany, UK, France, Spain, Italy, China, Japan, South Korea, Malaysia, Singapore, Australia, New Zealand, GCC, South Africa, Israel |
| Key Companies Profiled | Robert Bosch GmbH; Denso; NXP Semiconductors; General Electric; Texas Instruments; Infineon Technologies AG; MRON Corporation; Honeywell International; ST Electronics |
| Report Customization | Available upon Request |
As of 2022, the MEMS Pressure Sensor market is slated to reach a valuation of USD 2,242.5 Million.
From 2022 to 2032, sales of MEMS Pressure Sensor is expected to grow at a 6.2% CAGR.
By 2032, Future Market Insights expects the MEMS Pressure Sensor market to reach USD 4,086.9 Million.
Explore Electronics & Components Insights
MEMS Pressure Sensor Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
