In a recent published report, Kenneth Research has updated the market report for Microelectricalmechanical Systems (MEMS) Market for 2024 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2024- Positive Growth in the economic demand and supply.
According to the statistics by the Organization for Economic Co-operation and Development (OECD), the United States recorded to be the largest exporters of international trade in services amongst all the OECD nations with a value worth USD 827 billion in the year 2018.
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Global Microelectromechanical Systems (MEMS) Market is forecasted to reach $35 billion by 2024; growing at a CAGR of 11.4% between 2016 and 2024. MEMS is the technology of microscopic device that has both electrical and mechanical components. The dimensions can range from 20 micrometers to a millimeter. MEMS technology is able to develop new products such as less expensive, multi-axis inertial motion sensors. These sensors are useful for smartphone based navigation and Digital Micromirror Devices (DMD), which are used for efficient, high speed and reliable spatial light modulation in industry verticals such as telecom and medical, among others. MEMS are also used in micro-mirror arrays for high definition project systems, sensor-driven heating and cooling systems, and micronozzles to control the flow of ink in inkject printers.
Growth in automotive vertical and consumer’s preference towards improved features in their vehicle are the major drivers of the MEMS market. Moreover, technological advancements which have resulted into the miniaturization devices and increasing adoption of wearable devices are also expected to drive the market. However, less technical awareness among end users and lack of standardization & accuracy may hinder the growth of the market.
The MEMS market has been bifurcated into product type, industry vertical and geography. Product type is further segmented into sensors (accelerometer, pressure sensor, gyroscope, microphone, inertial combos, magnetometer , environment and optical sensor), actuators (inkject systems, optical MEMS such as projection system, autofocus, micromirror and micro displays, oscillators & resonators, micro fluidic & bio-chip, RF MEMS and others).Industry vertical can further be segmented into consumer electronics, automotive, industrial, aerospace and defense, healthcare and telecommunication.
Geographically, the MEMS market is categorized into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S., Mexico and Canada are covered under North America wherein Europe covers France, Germany, United Kingdom, Spain and others. Asia-Pacific covers China, India, Japan, South Korea and others. RoW covers South America, Middle East and Africa.
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The key market players in MEMS market include STMicroelectronics (Switzerland), Robert Bosch GmbH (Germany), Hewlett-Packard Company (U.S.), Texas Instruments Inc. (U.S.), Knowles Electronics (U.S.), Denso Corporation (Japan), Canon Inc. (Japan), Avago Technologies (Singapore), InvenSense, Inc. (U.S.), Panasonic Corporation (Japan), Analog Devices, Inc. (U.S.) and Sensata Technologies, among others.
The key takeaways from the report:
The report will provide detailed analysis of Microelectromechanical Systems market with respect to major segments such as industry vertical and product type. The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024. Comprehensive analysis of market dynamics including factors and opportunities is included in the report. An exhaustive regional analysis of Microelectromechanical Systems market will be provided in the report.
Profile of key players of the Microelectromechanical Systems market, which include key financials, product & services, new developments and business strategies.
Scope of Microelectromechanical Systems (MEMS) Market
Product Type Segments
Sensors
Accelerometer
Gyroscope
Pressure sensor
Inertial combos
Microphone
Magnetometer
Others (Environment and Optical Sensor)
Actuators
Inkjet systems
Optical MEMS (Projection System, Autofocus, Micromirror, and Micro Displays)
Oscillators and Resonators
micro fluidic and bio-chip
RF MEMS
Others (PIR and Thermopiles, Microbolometers, and Digital compass)
Industry Vertical Segments
Consumer Electronic
Automotive
Industrial
Aerospace and Defence
Healthcare
Telecommunication
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Geographical Segments
North America
US
Canada
Mexico
Europe
Germany
France
United Kingdom
Spain
Others
Asia-Pacific
China
India
Japan
South Korea
Others
RoW
South America
Middle East
Africa
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