Mems Sensors Market

MEMS Sensors Market Size, Share & Growth (2023-2028)

MEMS Sensors Market Size is Expected to grow with a CAGR of 14.4% during the forecast period 2023-2028

MEMS Sensors Market Overview:

MEMS sensors are instruments that collect information by evaluating environmental parameters by monitoring thermal, chemical, electrical, mechanical and optical phenomena. The sensors have a wide range of applications in different sectors like automobiles, telecommunications, healthcare, etc.MEMS sensor has emerged as being one of the revolutionized components used in healthcare equipment, technological advances in the MEMS sensor market are opening up new application opportunities in healthcare systems, growing customer demand for better medical facilities is anticipated to drive the MEMS sensor market throughout the forecast period.

Recent Developments

• Broadcom has announced the world’s first Wi-Fi 6E Chip for Mobile Devices named BCM4389 blazes trail which is with multi-gigabit, low latency Wi-Fi and superior Bluetooth audio experience.

• The latest announcement by Denso Corporation confirmed that they are changing the executive responsibilities.

Industry Driving Factors

Some of the main factors that play a vital role in market growth are the growing demand for safety and security in automobiles. Technological progress in the product is anticipated to drive the demand throughout the forecast period, like reduction in size, higher accuracy, and new application.

Major Challenges    

However, some factors are challenging the growth of the market. One of the main challenges faced is the MEMS sensors high implementation costs. The integration of MEMS sensors in automobiles due to interface design consideration is the other challenging aspect for the growth of the market. In addition, other major constraints for the global MEMS sensor market are efficiency in parameter calculation, calibration problems during sensor fusion, high competition between main players.

Growth Opportunities

With the increasing consumption of consumer goods, the opportunities for the MEMS sensor market are rising. However, Low manufacturing costs, Eco-friendliness, large-scale manufacturing, and compact size are among the factors that can boost vendor competition around the world. The introduction of electric vehicles (EVs) in the sector has had a significant impact on the demand for and allocation of pressure and magnetic sensors, and long-term demand is projected to increase further. This increases the sales of electric cars, increases the demand for sensors, increases the number of sensors used for battery monitoring and helps in positioning and detection of the number of moving parts of the automobile.

MEMS Sensors Market Segmentation:

By Application

• Consumer Products

• Automotive

• Healthcare

• Defense

• Telecom

• Others

In the vertical segmentation of the MEMS Sensors Market, the Automotive segment is estimated to grow drastically owing to the advancements in the automobile industry and the implementations of them in the vehicles for safety concerns by major players of the automobile industry.

MEMS Sensors Market – By Type

• Pressure Sensors

• Inertial Sensors

  • Accelerometers

  • Gyroscopes

• Chemical Sensors

The inertial type is estimated to account for the dominant share in the global MEMS sensors market in the coming years, owing to the increasing application in industries like automotive and others.

By Actuator Type

• Optical

• Inkjet Head

• Microfluidics

• Radio Frequency (RF)

  • Switch

  • Filter

  • Oscillator

The RF actuator is likely to expand with the highest growth rate in the forecast period, accounting for the principal portion due to its usage in consumer electronics and IoT devices.

MEMS Sensors Market Regional Analysis:

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East & Africa

Asia Pacific (APAC) retained the greatest MEMS market share in the last few years and is projected to grow in the forecast period at the highest CAGR. APAC is the main consumer for electronics, automotive, and vertical industry sectors. In turn, APAC has become a regional center for significant investments and prospects for business expansion.

Tire pressure monitoring system (TPMS) has been one of the major MEMS sensor implementations in the automotive sector. The prominent role of China in introducing TPMS for its vehicles throughout the forecast period is anticipated to contribute significantly to the growth of the industry. In addition, autonomous driving standardization and advanced driver assistance (ADAS) systems are accelerating development.

The Americas represented the MEMS market's second-largest share in the past. This rise is due to the involvement of many of the major MEMS manufacturing firms and MEMS foundries; the increasing industrial and home automation; and the acceptance of digital technologies such as augmented reality (AR) and virtual reality (VR) and the Internet of Things (IoT).

MEMS Sensors Market KeyPlayers:

1. STMicroelectronics N. V.,

2. MegaChips Corporation.,

3. AMS AG,

4. Robert Bosch GmbH,

5. InvenSense Inc.,

6. Panasonic, Canon,

7. Seiko Epson Corporation,

8. Infineon Technologies,

9. Knowless ,

10. Denso,

11. Avago Technologies,

12. Sensata,

13. Measurement Specialties Inc.,

14. Analog Devices Inc.,

15. Kionix Inc.,

16. Memsic Inc.,

17. Freescale Semiconductor Inc.,

18. Alps Electric Co. Ltd.,

19. Texas Instruments Inc

20.