Micro-electromechanical system (MEMS) market revenue totalled US$ 14.4 Bn in 2022, and is projected to surge at an impressive CAGR of 10.2% (2022-2029). Shipments of micro-electromechanical systems are anticipated to reach US$ 28.4 Bn by 2029.
Micro-electromechanical systems offer significant benefits such as time-efficient, effective power consumption, and reduced weight as compared to traditional macro systems for mechanical and electrical functions. These benefits make MEMS-based devices more attractive for communication and connectivity applications. Radiofrequency (RF) MEMS technology is specifically designed for electronics in wireless communication applications such as radars, steerable antennae, and global positioning satellite systems (GPS). MEMS technology is used to improve the performance of communication circuits and reduce power consumption costs. Micro-electromechanical system technology is also used for military applications in wireless communication satellite systems to gather information, missile guidance, and security monitoring.
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Micro-electromechanical system (MEMS) market revenue totalled US$ 14.4 Bn in 2022, and is projected to surge at an impressive CAGR of 10.2% (2022-2029). Shipments of micro-electromechanical systems are anticipated to reach US$ 28.4 Bn by 2029.
Key Takeaways of Micro-electromechanical System Market Study
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Increasing Application in Automobile Sector to Boost Growth of MEMS Market
MEMS are used in various applications in the automobile sector, such as navigation assistance, telematics, airbag systems, anti-theft systems, electronic stability control of vehicles, and other vehicle dynamic applications. Moreover, MEMS-based lead frames packaging solutions provide superior thermal conductivity to ensure that appropriate heat dissipation properties required by specific applications such as vehicle security systems and rollover detection. Moreover, these micro-electromechanical systems are also used for passenger safety purposes, tire pressure detection, rollover, and skidding detection.
For instance, in May 2021, STMicroelectronics, a leading provider of MEMS motion sensors for customer products, added a new high-accuracy and high-stability MEMS motion sensor (IIS3DHHC). This IIS3DHHC MEMS sensor is a 3-axis accelerometer to secure accuracy over time and temperature, with 10-year product longevity for advanced industrial sensing.
More Valuable Insights on Micro-Electromechanical System Market
FMI’s report on the micro-electromechanical system market is segmented into major sections, such as MEMS-based device (MEMS sensors [accelerometers, gyroscopes, humidity, pressure, proximity, and temperature sensors], MEMS audio devices [MEMS microphones and MEMS speakers], MEMS switches, MEMS actuators, and MEMS oscillators), and application (consumer electronics, automotive, aerospace & defense, healthcare, telecommunications, and industrial), and region, to help readers understand and evaluate lucrative opportunities in the MEMS market.
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
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Aug 30, 2022