According to the latest market survey conducted by Future Market Insights, the global micro-electromechanical systems market is relishing a market valuation of US$ 67.2 Billion in 2022 and is all set to expand with a CAGR of 10.1% during the 2022 to 2032 period.
| Market Size 2022 | US$ 67.2 Billion |
| Market Size 2032 | US$ 175.9 Billion |
| Value CAGR (2022 to 2032) | 10.1% |
| Collective Value Share: Top 3 Countries (2022E) | 45% - 50% |
In order to take use of both the mechanical and electrical qualities of silicon, semiconductor integrated circuits (ICs) incorporate micro-electro-mechanical systems (MEMS). The movements detected by these MEMS include angular motion, acceleration, pressure, and magnetic fields. Microelectromechanical systems (MEMS) not only control the sensors in microelectronics but also allows their computational capabilities.
MEMS are now widely regarded as a game-changing technology in personalized healthcare. Microelectromechanical systems (MEMS) have been essential in the shift from large, centrally located hospital gadgets to smaller, more portable ones. MEMS-based medical devices are well-structured and can detect a wide range of illnesses, including abnormalities in respiration, blood pressure, temperature, motor function, and more.
Over the Historical Assessment period 2017 to 2021, robust changes in the global micro-electromechanical systems market have been observed. Micro-electromechanical systems (MEMS) were a growing sector of the economy thanks to factors including the proliferation of smartphones, the success of the portable electronics market, the rise of the internet of things (IoT), and strong demand from the automation sector. Likewise, throughout the historical time frame of analysis, there was a significant uptick in the shrinking of electronic goods, which also added fuel to the fire of MEMS demand growth.
It is expected that the market for MEMS would expand at a faster rate than it did during the historical period. The compound annual growth rate (CAGR) for the MEMS market from 2017 to 2021 was recorded to be 9.7 percent, while projections for the period from 2022 to 2032 indicate a CAGR of 10.1 percent for the market.
Smartwatches, fitness trackers, virtual reality (VR) headsets, smart wristbands, activity trackers, and sports watches are just some of the wearable gadgets that have incorporated cutting-edge technology like artificial intelligence (AI) and the Internet of Things (IoT).
A user's health records are accessible from any device with internet access, including a computer, tablet, or smartphone. As people show a greater interest in their own health, smart wearable devices are gaining traction in the medical field. Fitness trackers, smartwatches, and pulse oximeters are just some of the most well-known examples of wearables that incorporate optical sensors for real-time patient health surveillance.
The worldwide market for wearable devices has become increasingly competitive as a result of constant product launches with cutting-edge technology and sensors. For Instance,
Over the projected period, the demand for MSME is predicted to expand at exponential rates due to the growing requirement of sensors for innovation in the wearables industry, as well as the regular product releases and a high acceptance rate of wearables in the healthcare and consumer electronics sectors.
Due to the downsizing and low cost of MEMS sensors, various types of sensors, such as accelerometers, gyroscopes, radiation and temperature sensors, and pressure and vibration sensors, have been produced using MEMS technology. These sensors are finding their way into a wide variety of applications, but the automobile industry is widely predicted to be an early adopter. Important uses in the automobile industry include anti-lock braking systems, satellite navigation, and airbag deployment.
An important cause in the expansion of the automotive security industry is the rising concern for the safety and security of passengers and drivers. More than 1.55 million people are killed and 50 million are wounded in traffic accidents each year, according to the World Health Organization (WHO). Increased vehicle safety is greatly aided by MEMS sensors. Even more importantly, they are a major driving force behind the expansion of the industry under consideration.
The need for interface requirements is obvious and is anticipated to be crucial for future demand as the number of use cases for sensors in-car applications to support ADAS, entertainment, and autonomous driving systems continues to expand. There is a growing need for reliable approaches to providing safety alerts and other pertinent information to the driver as ADAS systems expand in scope and complexity.
Countries in East Asia with substantial economic weight, such as China, Japan, South Korea, and Taiwan, make important contributions to both process management and product production. As an added bonus, it is the location of several leading market vendors and contract fabrication firms (FABS). East Asian nations are significant users of MEMS sensors due in large part to government legislation requiring their implementation for passenger safety, industrial automation, environmental monitoring, etc.
Conjunctly, accelerating its digital strategy and plan and Society 5.0 vision, the Japanese government has laid the groundwork for future prosperity. The country's MEMS market also benefits from these initiatives because of the expansion of potential they present.
There has been a significant increase in the number of autonomous vehicles on Japanese roads, and Honda was just granted approval to begin selling its own model. Another factor contributing to the expansion of the MEMS market is the rising number of autonomous cars in circulation in Japan.
On the other hand, As part of its Made in China 2025 strategy, China is spending a great deal of money establishing a MEMS supply chain. The Made in China 2025 action plan for development and policy provides a robust increase in sensors from key technology, Research and Development, and applications during the course of the strategy's three-year duration.
When it comes to technology, the policy is meant to encourage the development of essential technologies including sensors, MEMS, novel material sensors, skin micro-electromechanical systems, and others.
There are both major and small companies competing in the worldwide market for micro-electromechanical systems technologies. The market's major players are vying for customers' business through a variety of strategies, including price cuts, new product features, increased performance, and wider distribution.
Increased competition is predicted as a result of technological advancements and a surge in product expansions. Players are working to distinguish their products and services from the competition by developing distinctive value propositions. Further, participants are exerting great effort to create and launch cutting-edge technological innovations in order to stay ahead of the competition.
| Attribute | Details |
| Growth Rate | CAGR of 10.1% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Units, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Countries Covered |
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| Key Companies Profiled |
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| Customization & Pricing | Available upon Request |
In 2022, the value of the global Micro-Electro Mechanical Systems market reached over US$ 67.2 Billion.
During the forecast period, the global Micro-Electro Mechanical Systems market is estimated to expand at a CAGR of 10.1% from 2022 to 2032.
The global Micro-Electro Mechanical Systems market is projected to reach US$ 175.9 Billion by the end of 2032.
The key players operating in the Micro-Electro-Mechanical Systems market are STMicroelectronics N.V., Robert Bosch GmbH, Analog Devices, Inc., NXP Semiconductors N.V., Texas Instruments Inc., Panasonic Corp., TE Connectivity Corp., Sensata Technologies Holding N.V., Denso Corp., Broadcom Ltd., Honeywell International Inc., Knowles Corp, Taiwan Semiconductor Manufacturing Co. Ltd., HP Development Company, Qorvo Inc. and various others
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Micro-Electro Mechanical Systems Market
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