Global Micro-Electromechanical Systems (MEMS) Market Report 2022: Market to Reach $16.9 Billion by 2026 - Consumer Electronics Segment is Expected to Account for $10.3 Billion
Dublin, Jan. 26, 2022 (GLOBE NEWSWIRE) -- The "Micro-Electromechanical Systems (MEMS) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Micro-Electromechanical Systems (MEMS) Market to Reach US$16.9 Billion by the Year 2026
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.
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.
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.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Industrial Activity Remains Subdued, Inducing Weakness into MEMS Market
COVID-19 Impact on the MEMS Market
Pandemic Highlights Importance of MEMS Biosensors
Use of MEMS in Coronavirus Testing
An Introduction to Micro-Electromechanical Systems (MEMS) Devices
Types of MEMS Devices
MEMS Manufacturing
Advantages & Drawbacks of MEMS Devices
Global Market Prospects & Outlook
Consumer Electronics Leads the Global MEMS Devices Market
Asia-Pacific Spearheads Long-term Market Growth
Competition
Recent Market Activity
2. FOCUS ON SELECT PLAYERS(Total 113 Featured)
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.
3. MARKET TRENDS & DRIVERS
Growing Need for Device Miniaturization in Varied Electronics Devices Fuels Market Growth
Increasing Spending on Industrial Automation Initiatives to Boost Market Prospects
Expanding Role of Electronics in Automotive Vehicles Accelerate Growth Momentum
Sustained Growth of Automotive Sensors: Opportunity for MEMS Market
As Autonomous Vehicles Come to the Fore, MEMS Market Poised to Benefit
Rising Use of MEMS Devices in Consumer Electronics
Rising Smartphone Adoption Drives Gains in the MEMS Market
Increase in Consumer Spending on Smart Home Technologies Presents Growth Potential for MEMS Devices
Wearable Devices to Extend High-Growth Opportunities for MEMS Devices Market
Opportunities for MEMS Technology Emerge in Healthcare & Biomedical Sector
Rising Prominence of Ultraminiature MEMS Sensors in Medical Industry
MEMS Enables Medical Innovations
Future Developments to Transform the MEMS Marketplace
Emerging MEMS Technologies and Applications to Transform the Future Outlook
Optical MEMS Technology Gains Momentum
High Growth Potential for MEMS Combo Sensors
Bio-MEMS: A High Potential Market
Role of BioMEMS Amidst the COVID-19 Pandemic
MEMS Biosensors and COVID-19 Pandemic
Advances in MEMS Technology to Propel Maritime Sector
Harnessing the Power of MEMS and Nanotechnology
Addressing the Production Issues in MEMS Industry
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
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