MEMS and Sensors Industry Depth Study, Analysis, Key Drivers, Top Players, Trends and Forecast 2027

Market Analysis

The global MEMS and sensors market will touch USD 26.1 billion at a 10.2% CAGR between 2018- 2023, reveals the latest Market Research Future (MRFR) report. MEMS or the micro-electro-mechanical system is a technology that comprises both mechanical and electronic components. This comprises various components like micro-electronics, miniaturized structures, sensors, and actuators.

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Several factors are adding to the global MEMS and sensors market growth. Some of these factors as per the MRFR report include the growing demand for IoT technology, rising adoption of connected devices, increasing use in wearable devices & consumer electronics like navigation devices, portable media players, digital cameras, laptops, tablets, and smartphones, and huge growth in the automotive industry.

On the flip side, high cost coupled with complex packaging and manufacturing process of MEMS may impede market growth over the forecast period.

COVID-19 Analysis

The MEMS and sensors market, too, have felt the brunt of the on-going COVID-19 outbreak. Disrupted supply chains and nationwide lockdown have impacted market growth. The rapid increase in the demand for essential goods and services has downsized the need for consumer electronics. This has impacted the market growth, which is likely to get back to normalcy soon.

Market Segmentation

The MRFR report highlights an inclusive segmental analysis of the global MEMS and sensors market based on applications, component, and materials.

By materials, the global MEMS and sensors market is segmented into ceramics, metals, polymers, silicon, and others. Of these, the polymers segment will lead the market over the forecast period.

By component, the global MEMS and sensors market is segmented into actuators and sensors. The sensors segment is again segmented into accelerometers, temperature sensors, humidity sensors, and pressure sensors. The actuators segment is again segmented into inkjet head, microfluidics, and others. Of these, the optical actuators will dominate the market over the forecast period.

By application, the global MEMS and sensors market is segmented into automotive, aerospace and defense, industrial, healthcare, consumer electronics, and others. Of these, the industrial segment will spearhead the market over the forecast period.

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Regional Analysis

By region, the global MEMS and sensors market covers the growth opportunity and recent trends across Europe, North America, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, North America will dominate the market over the forecast period. The presence of several top players and the increasing adoption of smart devices are adding to the global MEMS and sensors market growth in the region.

In Europe, the MEMS and sensors market is predicted to hold the second-largest share over the forecast period. Growing awareness about eco-friendly and technically advanced electronic equipment, favorable regulatory compliances, sustained demand for renewable energy infrastructure, automotive, and power electronics, and the presence of developing economies such as China and India are adding to the MEMS and sensors market growth in the region.

In the APAC region, the MEMS and sensors market is predicted to grow at a fast pace over the forecast period. Proliferating Chinese market, growing need for smart consumer electronic devices, and the presence of key players are adding to the global MEMS and sensors market growth in the region.

Key Players

The prominent players profiled in the MEMS and sensors market report include Hitachi Ltd (Japan), Denso Corporation (Japan), Mega Chips Corporation (Japan), Allego microsystems (US), Infineon (Germany), Qualcomm (US), Honeywell (US), Hewlett Packard (US), Invensense (US), Murata Manufacturing Co (Japan), Panasonic (Japan), Texas Instruments (US), NXP Semiconductors (Netherlands), Robert Bosch GmbH (Germany), and STMicroelectronics (Europe), among others. Mergers and acquisitions, partnerships, collaborations, and product launches, among others, are the key strategies that the key players have adopted to stay at the forefront.

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