Hyderabad, June 28, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "MEMS Market (2023-2028)," the market is estimated at USD 15.5 billion in 2023. It is expected to register a CAGR of 8.43% during the forecast period.
From automotive to consumer electronics, the demand for micro-electromechanical systems (MEMS) is increasing in multiple applications. They also play a key role in the field of automation and artificial intelligence (AI), with small size, high reliability, and lower power usage. The MEMS market witnesses immense growth in the chip industry as technology companies around the world are accelerating innovation.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 15.5 billion |
| Market Size (2028) | USD 23.2 billion |
| CAGR (2023-2028) | 8.43% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Increasing demand for automation. |
| The immense growth in the chip industry. | |
| Growth of AI |
Who are the top companies in the Global MEMS Market?
The global MEMS market is relatively consolidated. To gain more technological capabilities and succeed in the competition in the market, vendors are increasingly spending on research and development initiatives for quality and newer technologies while keeping the price low as much as possible.
The most significant players in the global MEMS market are:
- Broadcom Inc.
- Robert Bosch GmBH
- STMicroelectronics NV
- Texas Instruments Inc.
- Qorvo Inc.
- Infineon Technologies AG
- Knowles Electronics LLC (Knowles Corporation)
- TDK Corporation
- NXP Semiconductors NV
- Panasonic Corporation
- GoerTek Inc.
Other Reports That Might Be of Your Interest:
- MEMS Pressure Sensors Market - The global MEMS pressure sensors market value is estimated at USD 2.36 billion in 2023. It is expected to reach USD 3.18 billion by 2028, registering a CAGR of 6.20% during the forecast period (2023-2028).
- MEMS-Based Inertial Measurement Unit (IMU) Market - The MEMS-based inertial measurement unit (IMU) market size is estimated at USD 982.50 million in 2023. It is expected to reach USD 1.67 billion by 2028, registering a CAGR of 11.31% during the forecast period (2023-2028).
Key Highlights from the Global MEMS Market Report:
Growing Consumer Electronics Industry
- MEMS has become an inevitable part of people's daily lives by finding applications in various products, from smartphones to other consumer goods.
- The consumer electronics sector is shifting its attention from conventional sensors to MEMS technology.
- Smartphones present features like optical image stabilization (OIS), electronic image stabilization (EIS), accelerometers, gyroscopes, fingerprint technology, etc., using MEMS sensors.
Asia-Pacific is Projected to be the Dominating Region
- The presence of major consumer electronics manufacturers makes Asia-Pacific an attractive destination for MEMS.
- The increasing smartphone penetration and the adoption of 5G technology in the region are boosting the market.
- China, South Korea, Japan, and India are performing well in these areas.
What are the latest developments in the Global MEMS Market?
- In February 2023, Infineon launched its new tiny MEMS microphone, the 520 APower, which offers high SNR.
- In January 2023, Knowles Corporation launched its latest series of SiSonicMEMS microphones, including Titan (digital), Falcon (differential analog), and Robin (single-ended analog).
Mordor Intelligence has Segmented the Global MEMS Market Based on Type, Application, and Geography.
- By Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- RF MEMS
- Oscillators
- Microfluidics
- Environmental MEMS
- Optical MEMS
- MEMS Microphones
- Inertial MEMS
- Pressure MEMS
- Thermophiles
- Microbolometers
- Inkjet Heads
- Accelerometers
- Gyroscopes
- Other Types
- By Application (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Automotive
- Healthcare
- Industrial
- Consumer Electronics
- Telecom
- Aerospace and Defense
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the MEMS Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
-
- MEMS-based Oscillator Market Report - The MEMS-based oscillator market size is estimated at USD 214.39 billion in 2023, and it is expected to reach USD 758.77 billion by 2028, registering a CAGR of 28.76% during the forecast period (2023-2028).
- Automotive MEMS Sensors Market Report - The automotive MEMS sensors market is expected to register a CAGR of 7.2% over the forecast period.
- MEMS Microphones Market Report - The MEMS microphone market is expected to register a CAGR of 5.3% over the forecast period.
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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