The global micro-electromechanical system (MEMS) market size was valued at nearly US$ 14,458.3 million back in 2022. During the period between 2023 and 2033, the overall market is predicted to increase at a CAGR of 10.6%. The market is is anticipated to reach a valuation of US$ 15,795.5 million and US$ 43,290.9 million by the end of 2033.
Particularly the expansion of the automobile sector, and the growth in the communication network or infrastructure have accelerated the sales of MEMS. Moreover, their ability to miniaturize gadgets, vehicles, and other devices is projected to further strengthen the demand for micro-electro-mechanical systems.
With the increase in the sales of smartphones and other portable devices emerging nations are expected to see their market shares expand through 2033. In addition to it, favorable government policies and efforts for greater investments in semiconductor industries are expected to strengthen their growth rate.
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Key Takeaways from the Market Study Report
- In 2022, the North American micro-electro-mechanical system market was responsible for more than 29.4% of global revenue. The United States is the dominant market in this region and holds a global market share of 18.5%.
- European countries together contribute almost 24.3% of the total demand for micro-electromechanical systems (MEMS) generated globally. Germany is the leading market for production and supply of MEMS to the European market which accrued a global share of 8.6% in 2022.
- As per the 2022 report, currently, the application of micro-electromechanical systems in consumer electronics governs around 19.2% of the global market demand.
- Based on the different types of MEMS-based devices available in the market, the MEMS sensors garnered revenue of around 25.4% in 2022.
Competitive Landscape for the Market Players
The industry is dominated by companies like STMicroelectronics, Analog Devices, Bosch Sensortec, TDK, TE Connectivity, Murata, and Honeywell International. To gain a competitive advantage, these leading and global businesses are prioritizing expanding their product lines and forming prospective partnerships.
Over the next ten years, market competition is anticipated to be driven by the existence of numerous sizable consumer electronics and semiconductor manufacturing firms. Supported research and development expenditures to develop unique products in keeping with the shifting demands of various sectors may diversify the market further.
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Recent Developments by the Micro-electromechanical System (MEMS) Industries
TDK Corporation, which is an industry leader in magnetic technology, purchased Chirp Microsystems, which is a manufacturer of premium alternatives to ultrasonic 3D sensing. With this purchase in February 2018, TDK added sensors to its existing product range and technologies, including fingerprint and piezoelectric transducers.
To reduce the dimensions of system-in-package hardware, STMicroelectronics introduced the Intelligent Sensors Processing Unit in February 2022. This device now combines a digital signal processor modified. To execute AI algorithms with micro-electromechanical sensors on the silicon chip.
Recently, in January 2023, the MEMS-specialized company xMEMS Labs unveiled its new earbud and listening device named Skyline. It is a unique solid-state MEMS DynamicVent supporting smart TWS that combines the advantages of open-fit and closed-fit earphones with spatial awareness for a better experience. In addition to this Skyline’s exclusive DynamicVent technology helps enhance the adaptive transparent and active noise cancellation capabilities of advanced TWS earphones.
Key Segments of Micro-electromechanical System (MEMS) Industry Survey
Industry Segment by MEMS-based Devices:
- MEMS Sensors
- MEMS Audio Devices
- MEMS Switches
- MEMS Actuators
- MEMS Oscillators
Industry Segment by Application:
- MEMS for Consumer Electronics
- MEMS for Automotive
- MEMS for Aerospace & Defense
- MEMS for Healthcare Sector
- MEMS for Telecommunications
- MEMS for Industrial Applications
- MEMS for Other Applications
Industry Segment by Region:
- North America Market
- Latin America Market
- Europe Market
- East Asia Market
- South Asia & Pacific Market
- The Middle East & Africa (MEA) Market
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