Microelectromechanical systems or MEMS are tiny machines and devices built on integrated circuits using conventional semiconductor fabrication techniques. MEMS products such as accelerometers, gyroscopes, inertial modules, pressure sensors, and microfluidics technology have found widespread applications in consumer electronics, automotive, industrial, and medical sectors. In the consumer electronics industry, the increasing integration of MEMS components in mobile devices, wearables, gaming consoles, and virtual/augmented reality headsets is driving the demand.
The global Microelectromechanical Systems (MEMS) Market is estimated to be valued at US$ 32194.51 Mn in 2024 and is expected to exhibit a CAGR of 5.1% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing adoption of MEMS in consumer electronics is one of the major trends propelling the market growth. MEMS inertial modules and MEMS pressure sensors are extensively used in smartphones, tablets, gaming devices to enable motion sensing capabilities and improve user-interface. Consumer demand for miniaturization, slimness, enhanced functionality and interactivity in consumer devices is fueling the integration of MEMS. Major consumer electronics manufacturers are focusing on developing new and innovative products integrated with MEMS technology.
Segment Analysis
Microelectromechanical Systems (MEMS) market is dominated by the automotive sub-segment due to the high usage of MEMs sensors in automobiles. MEMS sensors are widely used in automotive applications such as airbag deployment systems, anti-lock braking systems, tire pressure monitoring systems, engine management systems, and several other functions. The demand for MEMs sensors is growing rapidly in automobile manufacturing owing to increasing focus on vehicle safety and integration of advanced driver-assistance systems in modern vehicles.
Key Takeaways
The Global Microelectromechanical Systems (MEMS) Market Size is expected to witness high growth during the forecast period of 2024 to 2031. The global Microelectromechanical Systems (MEMS) Market is estimated to be valued at US$ 32194.51 Mn in 2024 and is expected to exhibit a CAGR of 5.1% over the forecast period 2024 to 2031.
Regional analysis: The Asia Pacific region currently dominates the global MEMS market and is expected to continue its dominance during the forecast period. Countries such as China, Japan, and South Korea are major manufacturing hubs for automobiles, consumer electronics, and smartphones which extensively use MEMS technology. This is supporting the growth of the MEMS market in the Asia Pacific region.
Key players: Key players operating in the MEMS market are Bosch Rexroth AG, Tsubakimoto Europe B.V., RACO-Elektro-Maschinen GmbH, Mul-T-Lock, Exlar Europe GmbH, Linearmech S.R.L., Parker Hannifin, SEW-EURODRIVE GmbH & Co KG, SKF, BJ-Gear, Kollmorgen, Tolomatic, RK Rose+Krieger GmbH, Seimens AG, Moog, Inc., SMC Corporation, and Rockwell Automation. These companies are focused on developing innovative MEMS solutions and capturing more market share through partnerships and mergers & acquisitions.
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