The global market for Microelectromechanical systems (MEMS) and sensors is expanding at a magnificent growth rate and will continue this trend throughout the forecast period (2016-2027), states Market Research Future (MRFR) in its extensive report. The market growth is a result of the implementation of the digital economy, internet of things (IoT), robots, drones, self-driving cars, and artificial intelligence. Growing opportunities in automotive, consumer electronics, mobile, medical and industrial segments drive the market growth for MEMS and sensors globally.
However, causing hindrance to the market growth are functional and operational issues. On the other hand, there are emerging opportunities, including the newer IoT applications. Adding to the profitable situation, companies are keeping low prices to attract customers, in turn spurring the demand for the market. Product development and enhancement is another strategy that lures customers. For instance, in January 2018, NextInput, Inc., the leader in MEMS-based force sensing solutions, launched ForceGauge™, the world’s highest performance strain sensor. This new strain sensor has numerous advantages over existing strain gauges, which include much better sensitivity and performance over temperature, thus creating an excellent user experience.
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The global MEMS and sensors market is segmented on the basis of materials, components, and application.
By materials, the market is segmented on the basis of silicon, polymers, metals, ceramics, and others. The vast majority of MEMS and sensors are created with silicon as it is extremely light, has an incredibly high melting point, and exhibits minimal mechanical hysteresis.
By components, the market is segmented on the basis of sensors and actuators. The sensors are sub-segmented into pressure sensors, humidity sensors, temperature sensors, and accelerometers.
By application, the market is segmented on the basis of consumer electronics, healthcare, industrial, aerospace & defense, automotive and others. MEMS and sensors are widely adopted in consumer electronics across several devices like smartphones, gaming consoles, PCs, home appliances, kitchen appliances and others. Hence, the segment is growing phenomenally owing to the stated factor.
By region, Microelectromechanical Systems and Sensor Market is segmented on the basis of Asia Pacific, North America, Europe and the Rest of the World.
Globally, the region of Asia Pacific is deemed to lead with the largest market share owing to growing automobile and consumer electronics sectors. The increasing demand for safety & security in the automobiles industry as led to the overall growth of the market in the region.
The North America market is observing an impressive stride on account of widespread use of MEMS-based sensors in aerospace and defense, industrial process control, and manufacturing infrastructure. Moreover, partnerships between academic and industry researchers provide a push to development of sensor-based home diagnostic equipment such as infusion pumps, oxygen concentrators, and hemodialysis machines.
The Europe region has observed a sturdy establishment of the MEMS and sensors market as governments in the region are constantly promoting the MEMS technology and its benefits. Emerging military applications like airborne radar and electronic warfare systems trigger the demand for compact, reliable, and low-cost MEMS-based sensors in the region.
The Middle East and Africa markets are growing slowly yet steadily due to emergence of the healthcare industry in the region as sensors are used in medical facilities and equipment such as CT scan, X-ray machines, ECG, and others. Moreover, emerging applications for MEMS and sensors such as automotive and consumer electronics sectors have propelled the market growth in the region.
The key players in the global MEMS and sensors market are Allego microsystems (U.S.), Bosch (U.S.), Asahi Kasei Microsystems (Spain), Mega Chips Corporation (Japan), Texas Instruments (U.S), InvenSense (U.S.), Qualcomm (U.S.), Infineon (Germany), Honeywell (U.S.), Denso Corporation (Japan), Delphi Automotive (U.K.), and Hitachi Ltd. (Japan) and others.
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