SAN FRANCISCO, Aug. 03, 2017 (GLOBE NEWSWIRE) -- Global Microelectromechanical Systems (MEMS) Market report by Variant Market Research, estimate that global market is projected to reach $35 Billion by 2024, from $15 Billion in 2016. The report will include detailed analysis of microelectromechanical systems market with respect to major segments such as product type, industrial vertical, and geography. MEMS are micro-devices comprising of mechanical and electrical components. The sizes may range from micrometers to millimeters. They are used is various applications including, sensor systems, display technologies, optical networks, and many others.
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Growing demand from consumers and automotive application segment
The factors boosting the growth of the global MEMS market are, advancement in technology which have enabled size reduction in devices and increasing popularity of improved features in vehicles. Growing demand for wearable devices also support the growth of the market. Though, lack of standardization and accuracy may hamper the development of the market. Additionally, growing applications of MEMS in smart homes, smart health, defense, and medical would provide several growth opportunities for the market. Investment in high volume production, decline in the cost of components and availability of these components in smaller dimensions units are the key factors that have supported the adoption of MEMS in consumer electronics and automotive sector.
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Market Segmentations
The MEMS market is categorized based on the product type, industry vertical, and geography. Product type is further bifurcated into sensors (accelerometer, gyroscope, pressure sensor, inertial combos, microphone, magnetometer, and others), actuators (inkject systems, optical MEMS such as projection system, autofocus, micromirror and micro displays, oscillators & resonators, micro fluidic & bio-chip, RF MEMS, and others). Additionally, industry vertical can be further categorized into consumer electronics, automotive, industrial, aerospace & defense, healthcare, and telecommunication. By geography, the MEMS market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW).
Sensors dominated the product type segment
MEMS-based sensors are one of the most essential component in several areas including, automotive, electronics, medical equipment, and others. Technological advancements, flexible size, low electrical consumption, and low cost make them appropriate for a wide range of applications ranging from consumer goods to aeronautics. Major players are investing heavily on technologies to push the limits on performance and eliminate the need for alternatives and high cost components.
Consumer electronics accounted for the largest market share in industry type segment
MEMS are being rapidly expanded and are widely used in consumer electronics including, smart phones, video games systems, tablets, and others. Continuous drop in average selling process of sensors is the major driver for the adoption of MEMS-based sensors in consumer electronics. Moreover, wearable devices in health & fitness markets are also increasingly incorporating MEMS-based sensors in their devices.
Asia-Pacific region witnessed fastest CAGR during the forecast period
Asia-Pacific region held the largest market share and is anticipated to attain fastest CAGR during the forecast period 2016-2024. Progress in automobile and electronics segment in Asia-Pacific region, especially in China and South Korea would boost the growth of the market. Moreover, growing trend of miniaturization, development of new applications for technologies, and increasing investments in R&D also fuel the growth of the market in the Asia-Pacific.
Competitive Landscape
In April 2017, Analog Devices, Inc., launched two new high frequency, low noise MEMS accelerometers, specifically designed for industrial condition monitoring applications. It strengthened the company’s market presence and joined new consumers. The key market players include Robert Bosch GmbH (Germany), Panasonic Corporation (Japan), Canon Inc. (Japan), Texas Instruments Inc. (U.S.), Hewlett-Packard Company (U.S.), Knowles Electronics (U.S.), Denso Corporation (Japan), InvenSense, Inc. (U.S.), Analog Devices, Inc. (U.S.), Sensata Technologies, Inc. (U.S.), Avago Technologies (Singapore), and Seiko Epson Corporation (Japan).
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Scope of Microelectromechanical Systems (MEMS) Market
Product Type Segments
- Sensors
• Accelerometer
• Gyroscope
• Pressure sensor
• Inertial combos
• Microphone
• Magnetometer
• Others (Environment and Optical Sensor)
• Actuators
• Inkjet systems
• Optical MEMS (Projection System, Autofocus, Micromirror, and Micro Displays)
• Oscillators and Resonators
• Micro fluidic and bio-chip
• RF MEMS
• Others (PIR and Thermopiles, Microbolometers, and Digital compass)
Industry Vertical Segments
- Consumer Electronic
- Automotive
- Industrial
- Aerospace and Defence
- Healthcare
- Telecommunication
Geographical Segments
- North America
• US
• Canada
• Mexico - Europe
• Germany
• France
• United Kingdom
• Spain
• Others - Asia-Pacific
• China
• India
• Japan
• South Korea
• Others - RoW
• South America
• Middle East
• Africa
About Variant Market Research
Variant Market Research offers syndicated and customized reports to fulfil clients' objectives. We also provide customized data packs proposing market sizing in an Excel/PDF/PowerPoint or Word format, as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial Services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
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