New York, USA, June 22, 2023 (GLOBE NEWSWIRE) -- According to the research report published by Market Research Future (MRFR), “MEMS Sensors Market Information by Technology, Components, Application – Market Forecast Till 2032”. The MEMS Sensors Market could thrive at a rate of 16.9% between 2023 and 2032. The market size will be reaching around USD 93,112.6 Million by the end of the year 2032.
MEMS Sensors Market Key Players
Prominent market players profiled in the global MEMS Sensors market report include
- ASE Technology Holding Co. Ltd.
- AMS AG
- Robert Bosch GMBH
- Qualcomm Technologies Inc.
- Seiko Epson Corporation
- Texas Instruments Inc
- Silex Microsystems.
- Teledyne Technologies
- Sony Corporation
- Taiwan Semiconductor Manufacturing Company Limited (TSMC)
- X-FAB Silicon Foundries SE
- Infineon Technologies
- Denso
- Avago Technologies
- Sensata
- Measurement Specialties Inc
- Analog Devices Inc
- STMicroelectronics N.V.
- Among others.
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Scope of the Report - MEMS Sensors Market:
| Report Metrics | Details |
| Market Size by 2032 | USD 93,112.6 Million |
| CAGR during 2023-2032 | 16.9% |
| Base Year | 2022 |
| Forecast | 2023-2032 |
| Key Market Opportunities |
|
| Key Market Dynamics |
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MEMS Sensors Market Drivers
Increasing Adoption in Healthcare Sector to Boost Market Growth
The are three key factors driving the MEMS sensors market. Firstly, the increasing adoption of IoT technology is fueling the demand for MEMS sensors as they play a crucial role in collecting and transmitting data from connected devices. Secondly, the growing demand for wearable devices and healthcare monitoring systems is creating opportunities for MEMS sensor manufacturers. These sensors enable real-time monitoring of vital signs and physical activities. Lastly, the automotive industry's focus on safety and advanced driver-assistance systems (ADAS) is driving the demand for MEMS sensors for applications like airbag deployment, vehicle stability control, and tire pressure monitoring.
Restraints and Challenges
The MEMS sensors market also faces certain restraints. One of the main challenges is the complex manufacturing process and high cost associated with MEMS sensor production. The fabrication of these miniature devices requires advanced technologies and precise manufacturing techniques, leading to higher production costs. Additionally, the market is highly competitive, with numerous players offering similar products, which may result in pricing pressures and reduced profit margins.
MEMS Sensors Market Segmentation
- By Material: The Material in the market includes Silicon, Polymers, Metals, and Ceramics
- By Type: The Type in the market includes Accelerometers, Inertial Measurement Units (IMU), Magnetometer, Pressure and Inertial Sensors, MEMS Microphone, Temperature Sensors, and Others
- By Application: By Application, the segment includes Consumer Electronics, Healthcare, Industrial, Aerospace & Defense, and Automotive
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MEMS Sensors Market COVID-19 Analysis
The COVID-19 pandemic had a mixed impact on the MEMS sensors market. Initially, the market experienced a decline due to disruptions in the global supply chain and reduced consumer spending on non-essential products. However, as the pandemic accelerated the adoption of remote working, telemedicine, and online education, the demand for smartphones, wearables, and IoT devices increased, subsequently driving the demand for MEMS sensors. Post COVID-19, the market is expected to witness steady growth as economies recover, and industries resume their operations.
MEMS Sensors Market Regional Analysis
North America to Head MEMS Sensors Market
North America grabbed the greatest percentage due to the growth of the electronics industry and a rise in EV sales. A number of manufacturers have increased their investments in MEMS Sensors as a result of the rise in demand for energy-efficient & long-lasting charging systems for the electronic devices like power tools and portable gadgets. This demand has been fueled by the presence of numerous market players (Qualcomm, Plugless Power, Energizer, WiTricty, etc.) as well as the ongoing technological advancements in the consumer electronics industry, the automotive industry, and medical devices. All of these elements are considerably boosting regional market expansion.
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Industry Updates
May 2023 - AMS AG launched a new high-precision MEMS accelerometer. This sensor offers exceptional stability and accuracy, making it suitable for applications that require precise motion detection and measurement, such as industrial automation, robotics, and navigation systems.
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