Micro-Electro-Mechanical System Market Size & Share 2023 to 2032
Market Size by Type (Sensors, Actuators, Audio Devices, Switches), by Industry Vertical (Automotive, Consumer Electronics, Medical, Aerospace & Defense, Telecom, Industrial), Competitive Market Share & Forecast.
Report ID: GMI5439
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Published Date: February 2023
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Report Format: PDF
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Authors:
Suraj Gujar, Ankita Chavan
Micro-Electro-Mechanical System Market Size
Micro-Electro-Mechanical System Market size was recorded at over USD 14 billion in 2022 and is expected to grow at more than 5% CAGR between 2023 and 2032 driven by emerging trends in the automotive industry.
Micro-Electro-Mechanical System Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
The burgeoning demand for smart consumer electronic devices globally is fueling the market growth. In addition, the growing adoption of the internet of things (IoT) by semiconductor companies is complementing the usage of electronics, including wearables, smartphones, laptops, cameras, cars, semiconductor devices, Internet of Things (IoT)-enabled gadgets, and so on.
Furthermore, a favorable increase in healthcare expenditure by governments, especially in Asia Pacific region is foreseen to escalate market standing. Constant improvements in the medical and pharmaceutical industries have boosted product adoption. In 2021, the total expenditure on healthcare institutions by the Japanese government increased by USD 14 billion or 4.6% compared to 2020. MEMS technology assists doctors in monitoring, analyzing, and controlling patient conditions.
High cost of manufacturing may restrain industry progression
High production and testing costs associated with the microelectromechanical system is a major factor restraining market share. The expensiveness of R&D programs for designing new components for MEMS is slated to impede product demand in the upcoming years. However, consistent efforts by players to find alternative MEMS wafer manufacturing components are likely to help them overcome this issue.
Micro-Electro-Mechanical System Market Analysis
In terms of type, the micro-electro-mechanical system (MEMS) market from the sensors segment is speculated to reach more than USD 15 billion in revenue by 2032. The report cites that the increasing application of MEMS Sensors in handling and controlling machinery, digital compass, GPS tracking, managing grippers, robotics, and automobiles in the automotive, chemical & pharmaceutical, industrial automation, and manufacturing sectors is slated to benefit segment outlook.
Micro-electro-mechanical system market share from the gyroscope sensors segment is anticipated to grow at over 5% CAGR from 2023 to 2032. The substantial use of gyroscopes in inertial navigation systems of airplanes, ships, drones, spacecraft, and satellites due to their size-suitability and affordability is set to propel product adoption. To cite an instance, all Indian Space Research Organization (ISRO) satellites are incorporated with gyro sensors to determine velocity and body rate information. Moreover, electronic devices, including wearable technology, mobile phones, and tablets, use these sensors to detect changes in orientation and motion.
With respect to industry vertical, the micro-electro-mechanical system market is divided into automotive, medical, consumer electronics, aerospace & defense, industrial, telecom, and others. In 2022, the consumer electronics segment captured nearly 40% share of the MEMS market, the report claims. Recent technological breakthroughs, the surging deployment of the Internet of Things (IoT) & AI, and the escalating need for small-sized consumer gadgets are improving the segment size. In February 2022, STMicroelectronics launched the Intelligent Sensors Processing Unit that combines Digital Signal Processor adapted to run AI algorithms and microelectromechanical sensors on the same silicon while reducing the size of system-in-package equipment.
Asia Pacific micro-electro-mechanical system market accounted for over 40% of the overall industry revenue in 2022. The presence of several significant consumer electronics companies and supportive R&D investments to create novel products in keeping with the changing demands of various industries in the APAC region is foreseen to drive industry growth over the next ten years.
Micro-Electro-Mechanical System Market Share
are some key players involved in the micro-electro-mechanical system (MEMS) market. These firms majorly focus on product range expansion and promising collaborations to attain a competitive edge. In a recent instance, in January 2023, xMEMS Labs, a MEMS specialty firm, introduced the Skyline, the distinct solid-state MEMS DynamicVent supporting smart TWS earbuds & listening aids that combine the benefits of open-fit and closed-fit & spatially aware earbuds to deliver smooth user experiences. Advanced TWS earbuds' adaptive transparency and active noise cancellation features can be improved by Skyline's unique DynamicVent technology.
Impact of COVID-19 Pandemic
The COVID-19 pandemic affected the MEMS market uptake adversely across several applications. In the initial phase of the outbreak, the consumer electronics industry witnessed a major setback due to supply chain disruptions that impacted the micro-electro-mechanical system demand. Meanwhile, an upsurge in the utilization of medical equipment in line with the rising COVID cases boosted the demand for biomedical sensors made with the micro-electro-mechanical system. As per a 2021 study, based on the role of MEMS sensors for diagnostics and treatment of coronavirus and other pandemics, it was found that MEMS sensors were used to improve equipment and conventional sensors as a result of their low weight, small size, prompt response, portability, efficient measurements and more.
The Micro-Electro-Mechanical System (MEMS) Market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:
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The above information has been provided for the following regions and countries:
Research methodology, data sources & validation process
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