Microelectromechanical Systems (MEMS) Market: Worldwide Key Industry Segments & Forecast, 2016-2024
Zion Market Research has published a new report titled “Microelectromechanical Systems (MEMS) Market for Automotive, Consumer Electronics, Industrial, Healthcare, aerospace & defense, and Other Applications: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2016 – 2022”. According to the report, global microelectromechanical systems market was valued at USD 10.73 Billion in 2016 and is expected to generate revenue of USD 19.20 Billion by end of 2022, growing at a CAGR of slightly above 10.18% between 2017 and 2022.
Micro-Electro-Mechanical Systems, or MEMS, is a technology used to create tiny integrated devices or systems that combine mechanical and electrical components using the techniques of microfabrication. Generally, these elements are fabricated using integrated circuit (IC) batch processing techniques and its size gets vary from well below one micron on the lower end of the dimensional spectrum, all the way to several millimeters. MEMS has been well-known as one of the most promising technologies and it prospective to develop both industrial and consumer products by combining silicon based microelectronics with micromachining technology. MEMS devices are small in size. Their components are usually microscopic. Levers, gears, pistons, as well as motors and even steam engines, have all been fabricated by MEMS.
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The global market for microelectromechanical systems is segmented on the basis of type, application, and region. On the basis of sensor types, the MEMS market is divided into inertial, pressure, microphone, environmental, optical and others. Inertial is the largest segment of the global MEMS market in the year 2016 in terms of revenue and are anticipated to expand at a faster rate over the coming years. On the basis of end-user, the global market for MEMS is divided into consumer electronics, aerospace & defense, automotive, industrial, healthcare and others. Consumer electronics dominated the segment in the year 2016 and anticipated to remain the leading segment over the forecast period, expanding at the fastest rate compared to all other applications.
Increase in demand for consumer electronics and wearable devices are anticipated to boost the microelectromechanical systems market over the forecast period. Moreover, increased demand from the automotive and healthcare sector is likely to trigger the market for microelectromechanical systems. Nonetheless, developing new applications areas for MEMS in consumer goods and the medical, surgical or increasing adoption in healthcare segment are expected open new avenues for the market growth over the next few years.
On the basis of region, the global market for microelectromechanical systems is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific leads the segment and is expected to experience high demand for MEMS in electronics, information technology, automotive and healthcare industries. Europe and North America are expected to grow at significant rate in years to come.
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The key players in the global market for microelectromechanical systems include STMicroelectronics, Texas Instruments Inc., Robert Bosch GmbH, Hewlett-Packard Company, Canon Inc., Denso Corporation, Panasonic Corporation, Avago Technologies, InvenSense, Inc., Analog Devices, Inc., among others.
This report segments global microelectromechanical systems market as follows:
Microelectromechanical Systems Market: Sensor Type Segment Analysis
- Inertial Combo
Microelectromechanical Systems Market: Application Segment Analysis
- Consumer Electronics
- Aerospace & Defense
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Microelectromechanical Systems Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa