SAN FRANCISCO, Dec. 8, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Micro-Electromechanical Systems (MEMS) - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 20; Released: November 2021
Executive Pool: 24089
Companies: 113 - Players covered include Analog Devices, Inc.; Canon, Inc.; Denso Corporation; Hewlett-Packard Development Company LP; InvenSense, Inc.; Knowles Electronics, LLC.; Panasonic Corporation; Robert Bosch GmbH; Sensata Technologies, Inc.; STMicroelectronics NV; Texas Instruments, Inc. and Others.
Coverage: All major geographies and key segments
Segments: End-Use (Consumer Electronics, Automotive, Industrial, Healthcare, Other End-Uses)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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Global Micro-Electromechanical Systems (MEMS) Market to Reach US$16.9 Billion by the Year 2026
MEMS or micro-electromechanical systems are compact devices that use techniques resembling traditional integrated circuit process technology in combining a variety of functions such as mechanics, optics, fluidics and electronics on a single silicon chip. MEMS is the primary enabling technology for developments in healthcare, transportation, and telecommunication sectors. Advantages such as less mass, small size, low cost, and low power consumption contribute to increased adoption of MEMS devices in telecommunication and consumer electronics industries. MEMS technology is being increasingly preferred in the automotive industry as well for vehicle security systems including the airbag systems. The increasing incorporation of MEMS sensors in several consumer electronic devices is another major factor driving growth in the global market. Factors such as increasing demand for smart devices and the growing adoption of IoT in semiconductors are driving growth. There is significant potential for growth in the MEMS devices market from the healthcare sector. MEMS technology is useful in diagnostic applications, medical tools such as insulin micropumps and endoscopic pills, and medical research. The segment is expected to get a boost, primarily gaining from government initiatives, technological advancements, and rising healthcare expenditure.
Amid the COVID-19 crisis, the global market for Micro-Electromechanical Systems (MEMS) estimated at US$11.5 Billion in the year 2020, is projected to reach a revised size of US$16.9 Billion by 2026, growing at a CAGR of 6.7% over the analysis period. Consumer Electronics, one of the segments analyzed in the report, is projected to grow at a 7.3% CAGR to reach US$10.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Automotive segment is readjusted to a revised 5.9% CAGR for the next 7-year period. This segment currently accounts for a 15.1% share of the global Micro-Electromechanical Systems (MEMS) market. Consumer electronics segment accounts for the most share due to the growing use of MEMS technology in smartphones, tablets, laptops, wearable devices, digital cameras, gaming consoles, media players, and portable navigation devices during the past few years. Rise in demand for vehicle automation, growing trend towards driverless cars, increase in the number of electric cars, and intense competition within the automotive industry are some of the major factors expected to drive demand for sensors in the automotive industry.
The U.S. Market is Estimated at $2.1 Billion in 2021, While China is Forecast to Reach $3.9 Billion by 2026
The Micro-Electromechanical Systems (MEMS) market in the U.S. is estimated at US$2.1 Billion in the year 2021. The country currently accounts for a 17.28% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$3.9 Billion in the year 2026 trailing a CAGR of 8% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.2% and 5.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6% CAGR while Rest of European market (as defined in the study) will reach US$320.5 Million by the end of the analysis period. Asia-Pacific is the largest MEMS market. In Asia Pacific, countries such as Japan, China, Taiwan, and South Korea account for major contribution to product manufacturing and process control. These countries are home to some prominent market vendors as well as contract fabrications companies such as TSMC.
Industrial Segment to Reach $2.3 Billion by 2026
MEMS technology allows combining electronics with the mechanical elements in devices such as valves, actuators, and the sensors embedded in semiconductor chips. This ability drives increased adoption of MEMS in almost every industrial sector. Pressure sensors and inertial sensors such as gyroscopes and accelerometers are driving applications for MEMS technology in the industrial automation area. In the global Industrial segment, USA, Canada, Japan, China and Europe will drive the 5.92% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$994.7 Million in the year 2020 will reach a projected size of US$1.5 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$607.2 Million by the year 2026, while Latin America will expand at a 6.8% CAGR through the analysis period. More
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SOURCE Global Industry Analysts, Inc.