Dubai, UAE, March 09, 2020 (GLOBE NEWSWIRE) -- The global MEMS sensor market is set to reach a valuation of US$ 50 Bn through the end of 2027, as per the recent market intelligence study of Fact.MR. Businesses in the MEMS (micro-electromechanical system) sensor market are increasingly pushing for widening the scope of application for MEMS sensors to boost their portfolios that cater to evolving consumer requirements.
“With concerns over cost-intensive sensors for industrial applications, smaller and more efficient MEMS sensors are being sold in billions, enabling smart industry applications. In addition, the development of new technologies and products will also encourage growth,” says the Fact.MR report.
Request PDF Sample of 250+ pages report on the MEMS sensor market- https://www.factmr.com/connectus/sample?flag=S&rep_id=4528
MEMS Sensor Market: Key Findings
- Automotive industry remains the key application area for MEMS sensors – passenger comfort and safety applications at the core.
- Clinical monitoring applications will bolster adoption across the medical and biotechnology sectors.
- Consumer electronics sector will remain a major contributor towards market growth.
- Accounting for over 35% market value share, APAC will continue to lead its way globally.
- Consumer electronics and electric vehicle (EV) manufacturers will particularly generate substantial demand.
- North America would remain a highly lucrative market for MEMS sensor manufacturers.
Explore 103 figures, 136 tables in the study. Request TOC of the report at- https://www.factmr.com/report/4528/mems-sensor-market
MEMS Sensor Market: Key Driving Factors
- The growth of the integrated circuit industry will be a prominent market growth driver.
- Increasing demand for smart devices and decline in average selling prices are boosting the rate of adoption.
- Mounting smartphone sales, advent of portable electronics, and growing adoption of Internet of Things (IoT) are collectively pushing market growth.
MEMS sensor: Key Market Restraints
- Higher price point of MEMS sensor production and sales remains a major challenge to market growth.
- Sensitivity to high temperature ranges would continue to be a strong barrier to wider adoption of MEMS sensors.
Competition Landscape
The global MEMS sensor market is consolidated. Industry leaders are focusing their efforts on new product launches, and tech developments, in addition to strategic acquisitions and expansions to strengthen their position in the industry. New entrants in the market are most likely to maintain focus on product innovations in an effort to improve their market positioning. Moreover, companies are eying profits in surging MEMS sensor integration into automobiles, which plays a pivotal role in enhancing vehicular safety, protection, and fuel efficiency. The report has profiled some of the key players in global MEMS sensor market, including but not limited to, Texas Instruments Inc., STMicroelectronics, NXP Semiconductors N.V., and Robert Bosch GmbH.
About the Report
This 250+ pages study provides detailed forecast data on the MEMS sensor market. The key categories covered in the report include product type (mechanical sensors, optical sensors, thermal sensors, and chemical & biological sensors), fabrication material (silicon, polymers, ceramics, and metals), application (automotive, industrial, medical & biotechnology, aerospace & defense, telecommunications, and consumer electronics) and 25+ countries in key regions (North America, Latin America, Europe, APAC, and Middle East & Africa).
Explore Fact.MR’s Detailed Coverage of the ICT Landscape
Vein Recognition Biometrics Market– The study analyzes the internal and external factors impacting competition in the vein recognition biometrics market.
Transportation Sensors Market– A detailed analysis on the latest market updates and design developments that play a crucial role in helping businesses formulate key strategies that will affect demand for transportation sensors around the world.
LIDAR Sensor Market– The report discusses the interrelations of LIDAR sensors to the global economy and the ICT sector.
About Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the veteran research team at Fact.MR helps clients from across the globe with their unique business intelligence requirements. With a repository of over thousand reports and 1 million+ data points, the team has scrutinized the ICT sector across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Fact.MR's latest ICT market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
Contact:
Fact.MR
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Email: sales@factmr.com
PR- https://www.factmr.com/media-release/1305/global-mems-sensor-market