Market Analysis
The MEMS and sensors market size is predicted to touch USD 26.1 billion at a 10.2% CAGR between 2018- 2023, states the recent Market Research Future (MRFR) analysis. Micro Electro Mechanical Systems or MEMS sensors, simply put, are the manufacturing technology of small devices. It is the merge of actuators, electronics, sensors, and mechanical elements on a substrate with the help of micro technology. This is used for producing systems of miniature dimensions. Actuators (inkjet head, microfluidics, optical), sensors (accelerometers, temperature sensors, humidity sensors, pressure sensors) are its different components and are made of different materials such as ceramics, metals, polymers, silicon, and others. Owing to its alluring features and an array of perks, MEMS and sensors have wide applications in automotive, aerospace and defense, industrial, healthcare, consumer electronics, and others.
Various factors are propelling the global MEMS and sensors market share. According to the recent MRFR report, such factors include growing demand for IoT technology, growing adoption of connected devices, increasing use of sensors in wearable devices consumer electronics like navigation devices, portable media players, digital cameras, laptops, tablets, and smartphones, and increasing use in the healthcare sector for various purposes like medical devices namely bionic limbs as well as other artificial body parts, imaging applications, diagnostic and treatment equipment positioning applications. Additional factors adding market growth include the booming automotive industry, increasing use of MEM in IoT, demand for MEMS pressure sensors, and increasing adoption of smart connected devices such as smart wearable devices, smart homes, and connected cars.
On the contrary, the complex packaging and manufacturing process of MEMS technology and the impact of the on-going COVID-19 pandemic may limit the global MEMS and sensors market growth over the forecast period.
Read more@ https://www.marketresearchfuture.com/reports/mems-sensors-market-1059
Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global MEMS and sensors market based on application, component, and materials.
By materials, the global MEMS and sensors market is segmented into ceramics, metals, polymers, silicon, and others.
By component, the global MEMS and sensors market is segmented into actuators (inkjet head, microfluidics, optical), sensors (accelerometers, temperature sensors, humidity sensors, pressure sensors). Of these, actuators will lead the market over the forecast period.
By application, the global MEMS and sensors market is segmented into automotive, aerospace and defense, industrial, healthcare, consumer electronics, and others. Of these, consumer electronics will dominate the market over the forecast period.
Regional Analysis
By region, the global Micro-Electro-Mechanical Systems market covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), the Rest of the World (RoW). Among these, the APAC region will dominate the market over the forecast period and at a high CAGR. The region being a global central point for large investments, business expansion opportunities, and the region being the key market for industrial verticals, automotive, and consumer electronics are adding to the global MEMS and sensors market growth in the region. India and China have the utmost share in the market.
The global MEMS and sensors market in North America is predicted to hold the second-largest share over the forecast period. The presence of top sensor manufacturing companies, booming home automation, and the adoption of evolving technologies are adding to the global MEMS and sensors market growth in the region.
The global MEMS and sensors market in Europe will have a sound growth over the forecast period and, in the Rest of the World, will have a steady growth over the forecast period.
Key Players
Leading contenders profiled in the global MEMS and sensors market report include Hitachi Ltd (Japan), Denso Corporation (Japan), Mega Chips Corporation (Japan), Allego microsystems (US), Infineon (Germany), Qualcomm (US), Honeywell (US), Hewlett Packard (US), Invensense (US), Murata Manufacturing Co (Japan), Panasonic (Japan), Texas Instruments (US), NXP Semiconductors (Netherlands), Robert Bosch GmbH (Germany), and STMicroelectronics (Europe), among others.
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