As per the latest report, the global MEMS Sensor market size is valued at USD 3.77 billion in 2021 and is expected to exhibit a significant CAGR of 4.8% with a market size of USD 5.24 billion during the forecast period 2021-2028.
Micro-electro-mechanical systems (MEMS) are also named micromachines and microsystems technology or MST. This is one type of technology that is composed of electronic and mechanical components like sensors, actuators, microelectronics, and miniaturized structures. This technology is used to manufacture sensors like accelerometers, digital compasses, gyroscopes, pressure sensors, inertial modules, microphones, and humidity sensors. As it has excellent characteristics like small size, low power consumption, and high precision, these MEMS are preferred for manufacturing various sensors by the production companies.
The device miniaturization is highly demanded in electronic devices like wearable devices, smartphones, medical instruments, etc are accelerating the MEMS sensors market growth. The MEMS devices have advantages like low cost, high accuracy, and less space consumption which makes them ideal to use in various applications. The decline in average selling prices (ASPs) may raise the demand for MEMS devices. These devices are soldered directly on the circuit boards as they are small enough. Thus it reduces the technology cost. Moreover, the factors like rising adoption of smartphones, the growing popularity of the Internet of things (IoT), high demand in the automation industry are boosting the growth of the MEMS market.
The MEMS Sensors market opportunities are growing trends towards autonomous vehicles and the rise in adoption of MEMS sensors in the biomedical sector is escalating the growth of the market.
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The MEMS and Sensors Market is sectioned into three forms such as types, material, and application.
Type Segmentation: The MEMS sensors is classified into various types like environmental, pressure, inertial, microphone, and optical.
Material Segmentation: The MEMS sensors by materials segment are categorized into four material types metal, silicon, polymer, and ceramic.
Application Segmentation: By application segment, the MEMS Sensors are divided into various forms like aerospace& defense, industrial, consumer electronics, healthcare, and automotive.
By the latest updates, the global MEMS Sensors market is partitioned into four major regions such as Asia-Pacific, North America, Europe, and the Rest of the World. Among them, North America is predicted to hold the highest market share due to the adoption of advanced technologies earlier and the presence of leading market players like Bosch, Texas Instrument, Allego microsystems, Qualcomm, Honeywell, and Invensense. Asia-Pacific is expected to be the fastest-growing region due to the rising demand for consumer electronics like smartphones and laptops. Rising miniaturization and the growing automotive industry are enhancing the market growth in this region. Moreover, rising government initiatives for promoting electronics are fueling the MEMS market in India and China in this region.
The MEMS Sensors market key players are Denso Corporation (Japan), Panasonic (Japan), Invensense, Qualcomm(US), Honeywell(US), Texas Instruments(US), Allego Microsystems (US), and others.
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