The global market for Micro Electro Mechanicals System, otherwise known as MEMS, had revenue of around $12.8 billion in the year 2013 and it is expected to grow at a compound annual growth rate of around 19% during the forecast period of 2013 – 2018. At present, the global MEMS market has been segmented into different product types like gyroscopes, accelerometers, Actuators, pressure sensors and others. Each of these segments is further broken down into different products, and an in-depth analysis, based on each of these segments, has brought to view quite incredible results.
Currently, this market is rapidly growing, and the products are needed in a number of different markets, including consumer electronic devices, chemical and healthcare industries. The prominent players who are deemed important companies dealing with this particular product are STMicroelectronics, Denso, Freescale, Infineon, Bosch and a few others.
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Miniaturized mechanical, electro-mechanical components are also known as micro-electro mechanical systems (MEMS). MEMS are currently being used in a vast number of consumer electronic devices, chemical and healthcare industries for a variety of purposes. Manufacturing processes, deposition and etching play a key role in this market. Some of the exciting new opportunities will be key growth drivers for this market, including the deployment of MEMS in networks for climate monitoring, oil exploration and production, structural health monitoring, smart highway infrastructure. Robert Bosch, STMicroelectronics, Texas Instruments, HP and Knowles Electronics are the top 5 companies operating this market currently, and they will be playing active roles in the growth of this market.
Innovative products and services are gradually capturing the MEMS market and sales are increasing steadily. Companies such as STMicroelectronics shipped up to 3 billion MEMS in early 2013. Therefore, it can be seen that the companies are making a considerable amount of effort in order to make sensors to fulfill every design-related need, increase the production volumes to meet the demand, while making the sensors cost effective. Also, research continues to boost the performance of these products, in order to make them faster and more reliable.
Smartphone, tablet PC, and other consumer electronics items, like gaming, are considered to be the highest growing market segments in the MEMS industry. This segment has contributed revenues of around $3.1bn in 2013. Also, the healthcare segment, and in machine to machine communication, MEMS based timing devices will be the future market growth drivers. A report has been compiled by IndustryARC, which indicates clearly the opportunities of growth, analyzes the existing data, and indicates market movement globally, as well as for individual segments.
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