Global Microelectromechanical System (MEMS) Sensor Market is valued at approximately USD 54.2 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 11.3% over the forecast period 2020-2027. Microelectromechanical systems (MEMS) are a type of micrometer-scale devices that incorporate mechanical and electrical elements. The micro-electromechanical systems (MEMS) technology consists of extremely compact, moving electrical elements, and mechanical parts. This technology is primarily used to produce sensors, including digital compasses, accelerometers, inertial modules, gyroscopes, humidity sensors, microphones, and pressure sensors. The evolution in MEMS sensors technology has led to reduction in size of the sensor, making it cost-effective, efficient, and compatible at the same time. Thus, microelectromechanical system (MEMS) system is gaining significant prominence in a range of industrial applications, such as consumer electronic, healthcare, automotive, among others. Moreover, increasing safety concerns and regularity constraints is likely to increase the adoption of MEMS sensor in the automotive sector. They are used for electronic stability control, tire pressure monitoring, frontal airbag, and side airbags. According to the International Organization of Motor Vehicle Manufacturers, the global production of automotive vehicles estimated around 17.8 million units in Q1 2020, and the production is increased to nearly 52 million units in Q3 2020. Thus, the increased automobile production and vehicles penetration may act a significant factor that drives the demand for MEMS sensor market. In addition, the increasing implementation of MEMS sensor in smartphone has become essential as it directly soldered onto the circuit boards, which reduces the cost of the smartphone manufacturing and improve the lifespan of mobile devices. Thus, the rise in smartphone penetration, along with the high adoption of automation sensors and technology are the few factors responsible for the CAGR of the market during the forecast period. According to Statista, the smartphone penetration stood at around 38% in 2018 and is increased to almost 44.9% in 2020, thereby strengthening the demand for Microelectromechanical System (MEMS) Sensor. This, in turn, is contributing to the higher market growth around the world. However, the lack of technological knowledge for the development of MEMS sensors among manufacturers is one of the prime the few factors restraining the market growth over the forecast period of 2020-2027.
The regional analysis of the global Microelectromechanical System (MEMS) Sensor market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rising investments in MEMS research and development activities, along with the wide presence of market vendors in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rise in production of automotive vehicles and consumer electronic, coupled with increasing rate of industrialization in the developing nations, such as China and India, are the few factors creating a lucrative opportunity for the growth of the Microelectromechanical System (MEMS) Sensor market in the Asia-Pacific region.
Major market player included in this report are:
Robert Bosch GmbH
Analog Devices Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Aerospace & Defense
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Microelectromechanical System (MEMS) Sensor Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers