Market Scenario
A Micro Electro Mechanical Systems is a manufacturing technology of small devices and it is the combination of the mechanical elements, sensors, electronics and actuators on a substrate through micro technology. It is used to produce a system of miniature dimensions. MEMS are used in different applications such as optical networks, sensor systems and display technologies, etc. MEMS can also be found in pressure sensors, flow sensors, deformable mirror devices, inkjet printers, gas sensors, micro motors, accelerometers, micro gears, and lab-on-a-chip systems. These products are all fabricated in high-profitable volumes. A MEMS sensor is usually assembled by similar etching or masking process as microchips. A common MEMS sensor is an accelerometer to measure acceleration.
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Healthcare segment is estimated to hold high growth potential. The MEMS technology is used in medical research, diagnostic application, and in medical devices such as endoscopic pills and insulin micro pumps. Government initiatives, rising healthcare expenditure, and technological advancements are estimated to boost healthcare segment over the forecast period. Increasing preference of consumer towards home medical monitoring in order to reduce hospital cost and penetration of health monitoring wearable devices is estimated to trigger the use of the technology and open new paths for the industry players.
The major growth driver of MEMS & Sensors Market includes growing demand for security in automobile industries, growing consumer electronics market, and innovative government regulations for energy efficient applications among others. However, functional and operational issues are one of the major factors which are hindering the growth of MEMS Sensor Market.
Key Players:
- Panasonic (Japan)
- Murata Manufacturing Co (Japan)
- Denso Corporation (Japan)
- Hitachi Ltd (Japan)
- Invensense (US)
- Hewlett Packard (US)
- Honeywell (US)
- Qualcomm (US)
- Infineon (Germany)
- STMicroelectronics (Europe)
- Robert Bosch GmbH (Germany)
- NXP Semiconductors (Netherlands)
- Texas Instruments (US)
- Allego microsystems (US)
- Mega Chips Corporation (Japan)
Market Segmentation
The global MEMS sensor market share has been segmented based on application, types, and material. On the basis of application, the market for MEMS and sensors is segmented based on aerospace & defense, automotive, healthcare, and consumer electronics. Additionally, the market on the basis of types, is segmented into environmental, microphone, optical, pressure, inertial. The global market for MEMS and sensors is also covered based on material segment which is further split into silicon, polymer, metal, ceramic.
Key influences such as air and water contamination could obstruct the MEMS and sensors market growth. However, as per the MEMS and sensors market research report, the increasing adoption of connected devices as well as the presence of leading market players will drive growth during the forecast period. These key growth factors will help support the MEMS and sensors market growth at a high CAGR. The segmental analysis of application, types, and material segments as well as regional market analysis has been presented in the global MEMS and sensors market research report. Analysts studying the MEMS and sensors market have presented projections in the MEMS and sensors market research report assisting MEMS and sensors market-based companies in numerous ways. The MEMS and sensors market research report offers crucial details about the MEMS and sensors market based on the data and forecasts till 2023.
Regional Analysis:
The global MEMS and sensors market, by region, has been segmented into North America, Europe, Asia Pacific, and the Rest of the world. North America is the hub of technological innovations. The region is not only quick to adopt new technologies, but it also pioneers the development of technologies. In addition, the rapid developments in the sensor technology coupled with its widening range of application across different industry verticals are responsible for the growth of the MEMS and sensors market in the region.
Europe, too, has been projected to accelerate the adoption of MEMS and sensors in various sectors of the economy. The strong value maintained by the automotive industry is also anticipated to act as a catalyst to the growth rate of the booming market. In addition, the region is projected to witness a surge in demand for robot cars which is likely to help the expansion of the MEMS and sensors market in the region.
Asia Pacific is presumed to retain its control over a significant share of the global MEMS and sensors market over the assessment period. The Chinese government is endeavoring to revolutionize its transportation industry to control its carbon emissions. This, in turn, has led to an increase in demand for vehicles equipped with smart and intelligent sensors. In Addition, the region has developed a penchant for smart consumer electronics which is expected to augment the MEMS and sensors market in the forthcoming years.
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