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 growing use of radio-frequency microelectromechanical system and increasing demand of IoT devices are expected to propel the MEMS market in the next five years. However, high production and testing costs associated with microelectromechanical system devices is likely to pose challenges for the industry players.
Key players operating in the 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. Major strategies adopted by top players to enhance their product portfolios, increase their market share, and expand their presence in the market include new product launches and deals such as acquisitions and partnerships.
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The Bosch Group is a leading global supplier of technology and services. Bosch is 94% owned by Robert Bosch Stiftung, a charitable institution. Its operations are divided into four business segments: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. In the Mobility Solutions business, as a supplier of original automotive equipment, Bosch is engaged in a wide range of activities organized into five divisions: Mobility Solutions, Consumer Goods, Industrial Technology, Energy and Building Technology, and Other Activities. Under the Mobility Solutions segment, the Automotive Electronics division is an in-house manufacturing and engineering service provider for electronic control units and semiconductors (integrated circuits and sensors). On the other hand, it manufactures semiconductor products and sensors for the external market. Its semiconductors for automotive applications ranging from application-specific integrated circuits (ASICs) to power semiconductors and MEMS (microelectromechanical systems) sensors. In consumer electronics, Bosch Sensortec GmbH, based in Kusterdingen, Germany, supplies MEMS sensors for various applications.
Broadcom is a global technology company designing, developing, and supplying a broad range of semiconductor and infrastructure software solutions. Over the years, the company has assembled a large team of semiconductor and software design engineers. The company maintains design, product, and software development engineering resources in the US, Asia, Europe, and Israel. Broadcom designs products and software that deliver high performance and provide mission-critical functionality. The company develops semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V-based products. Broadcom has a history of innovation in the semiconductor industry and offers thousands of products that are used in enterprise and data center networking, home connectivity, set-top boxes, broadband access, telecommunication equipment, smartphones and base stations, data center servers and storage systems, factory automation, power generation and alternative energy systems, and electronic displays. The company also offers mission-critical fiber channel storage area networking (FC SAN) products and related software in the form of modules, switches, and subsystems incorporating multiple semiconductor products.
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
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