MEMS and Sensors Market Segments, Size, Emerging Growth Factors, Top Key Players and Business Opportunities till 2027
The MEMS (Micro Electro-Mechanical System) and sensors market is projected to grow at a CAGR of 10.2% during the forecast period. The global market for MEMS and sensors is anticipated to grow rapidly by US$26.1 billion by 2023. The significant growth in the demand of IoT (Internet of Things) technology along with the rise in the adoption of smart connected devices will drive the market growth throughout the forecast period.
The MEMS sensor market is segmented into: types, material, and application.
- Type: The MEMS sensors is classified into environmental, pressure, inertial, microphone, and optical.
- Material: The MEMS sensors by materials segment are categorised into four material types; metal, silicon, polymer, and ceramic.
- Application: By application, MEMS Sensors are divided into; aerospace and defense, industrial, consumer electronics, healthcare, and automotive.
The global MEMS Sensors market is partitioned into four major regions; Asia-Pacific, North America, Europe, and the Rest of the World. North America is predicted to hold the highest market share due to the early adoption of advanced technologies and the presence of leading market players like Bosch, Texas Instruments, Allego microsystems, Qualcomm, Honeywell, and Invensense. The Asia-Pacific is expected to be the fastest-growing region due to the rising demand for consumer electronics such as smartphones and laptops. Rising miniaturisation and the growing automotive industry are enhancing the market growth in this region. Moreover, government initiatives for promoting electronics are fueling the MEMS market in India and China.
The MEMS Sensors market key players are Denso Corporation (Japan), Panasonic (Japan), Invensense, Qualcomm(US), Honeywell(US), Texas Instruments(US), Allego Microsystems (US), and others.
According to the latest updates, the MEMS Sensors market forecast states that the sensors market will reach immense growth during the review period due to the rising trend in autonomous vehicles and introducing the new type of sensors like 4-in-1 environmental MEMS sensor with AI which can measure humidity, gases, temperature, and barometric pressure in a single compact package for reducing the cost of the devices.
[edit] Related articles on Designing Buildings
Featured articles and news
For the World Autism Awareness Month of April.
70+ experts appointed to public sector fire safety framework
The Fire Safety (FS2) Framework from LHC Procurement.
Project and programme management codes of practice
CIOB publications for built environment professionals.
Sustainable development concepts decade by decade.
The regenerative structural engineer
A call for design that will repair the natural world.
Buildings that mimic the restorative aspects found in nature.
CIAT publishes Principal Designer Competency Framework
For those considering applying for registration as a PD.
BSRIA Building Reg's guidance: The second staircase
An overview focusing on aspects which most affect the building services industry.
Design codes and pattern books
Harmonious proportions and golden sections.
Introducing or next Guest Editor Arun Baybars
Practising architect and design panel review member.
Quick summary by size, shape, test, material, use or bonding.
Types of rapidly renewable content
From forestry to agricultural crops and their by-products.
Terraced houses and the public realm
The discernible difference between the public realm of detached housing and of terraced housing.