Micro-Electro-Mechanical System (MEMS) Market

The report "Micro-Electro-Mechanical System (MEMS) Market by Sensor Type (Inertial, Pressure, Microphone, Micxrospeaker, Environmental Sensor, Optical Sensor), Actuator Type(Optical, Inkjet Head, Microfluidics and RF), Vertical and Region - Global Forecast to 2028" The MEMS market is projected to grow from USD 14.8 billion in 2022 to USD 22.9 billion by 2028, registering a CAGR of 7.6% during the forecast period. The market growth is attributed to the growing use of radio-frequency microelectromechanical system and increasing demand of IoT devices. Furthermore, advancement in sensor fusion technology is expected to create lucrative opportunities for the market.

Browse 145 market data Tables and 72 Figures spread through 269 Pages and in-depth TOC on "Micro-Electro-Mechanical System (MEMS) Market by Sensor Type (Inertial, Pressure, Microphone, Micxrospeaker, Environmental Sensor, Optical Sensor), Actuator Type(Optical, Inkjet Head, Microfluidics and RF), Vertical and Region - Global Forecast to 2028"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/mems-market-13689179.html

Inertial Sensor type accounted for larger share of MEMS market in 2022

Inertial sensor type accounted for a larger share of the MEMS market in 2022 and is expected to remain dominant throughout the forecast period. MEMS inertial sensors are being used in different verticals such as automotive, consumer electronics, and communications. MEMS sensors are being used in the automotive vertical to improve performance, reduce cost, and increase the reliability of vehicles. Currently, MEMS inertial technology has been fully developed over the span of time. Low-cost MEMS inertial sensors have emerged over the years. Inertial sensors can be divided into four categories. These four performance categories are tactical grade, performance grade, automotive and consumer grade, and industrial grade. For instance, the automotive and consumer grade consists of inertial sensors such as gyroscopes and accelerometers. These are being used in active suspension systems, airbags, anti-lock braking systems, and smartphones.

RF actuator to lead MEMS market during forecast period

The RF actuator is expected to hold higher opportunities than the other actuator type between 2023 and 2028. RF MEMS can cover multiple bands and support carrier aggregation in disparate bands as well as support beamforming on the device side rather than primarily on the cell base station side. Smartphones, wearables, and the Internet of Things (IoT) are the major application areas of RF MEMS. A few of the major manufacturers of RF MEMS include Analog Devices, Inc. (US), NXP Semiconductors N.V. (Netherlands), Knowles Corp. (US), and Broadcom Ltd. (US).

Asia Pacific market to offer significant opportunities during forecast period

Asia Pacific is the rapidly growing MEMS market. The Asia Pacific market is further segmented into China, Japan, South Korea, India, and the Rest of Asia Pacific. Asia Pacific is a major market for consumer electronics, automobiles, and industrial. This region has become a global focal point for large investments and business expansion opportunities. In China, there is a huge demand for smartphones, wearable devices, and other connecting devices. Moreover, the Chinese market is expected to grow exponentially due to the availability of leading automotive manufacturing facilities. The developing economy and the growing implementation of MEMS sensors in most verticals are the driving factors for the growth of the MEMS market in China. Furthermore, the country’s Internet Plus strategy to integrate China’s IoT initiatives, mobile Internet, cloud computing, and big data would promote the extensive applications of wearable sensors and smart technologies.

Key players

Key players in the MEMS market include STMicroelectronics (Switzerland), Robert Bosch (Germany), Analog Devices (US), NXP Semiconductors (Netherlands), Texas Instruments (US), Panasonic Corp. (Japan), TE Connectivity (Switzerland), Broadcom (US), Honeywell International US), and Knowles Corp. LLC (US), among others.

Don’t miss out on business opportunities in Micro-Electro-Mechanical System (MEMS) Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]