Microelectromechanical Systems (MEMS) Market is Estimated to Witness High Growth Owing to Rising Adoption of Smartphones

Microelectromechanical Systems (MEMS) Market


 Microelectromechanical systems (MEMS) refers to the integration of mechanical elements, sensors, actuators and electronics on a common silicon substrate using microfabrication technology. MEMS are utilized in a diverse range of applications such as automotive, consumer electronics, industrial, healthcare and others. MEMS sensors such as accelerometers, gyroscopes and microphones are widely used in smartphones for features like motion detection during gaming, stabilization during video capturing and voice control. The global microelectromechanical systems (MEMS) market is estimated to be valued at US$ 27946.62 Mn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market Dynamics:
The microelectromechanical systems (MEMS) market is expected to witness significant growth over the forecast period owing to rising adoption of smartphones. According to Coherent market insights, over 6 billion smartphones will be shipped globally by 2025. The rising penetration of smartphones has fuelled the adoption of MEMS sensors like accelerometers and gyroscopes for various features. Another driver fueling the growth of MEMS market is increasing use of wearable devices. MEMS sensors like accelerometers and gyroscopes help in tracking motion, step counting and other biometric data collection in wearable devices. With rising health consciousness, the wearable device market is expected to witness a CAGR of over 15% from 2023 to 2030. Thus, the accelerating demand for smartphones and wearables will directly contribute to the growth of MEMS market over the forecast period.

SWOT Analysis
Strength: Microelectromechanical Systems (MEMS) have smaller size, lower manufacturing costs and more functionality than traditional macroscopic machines or electromechanical systems. They can be manufacturedusing compatible Complementary metal–oxide–semiconductor (CMOS) processes which allow incorporating electronics and mechanical components on a common silicon substrate to form a micro-system. They also require very small quantities of materials and have negligible moving parts which make them very reliable.
Weakness: It requires high initial investments in R&D and specialized infrastructure for commercial scale production of MEMS devices. The design and fabrication process of MEMS is complex requiring multidisciplinary expertise which increases costs initially. Initial applications of MEMS technology faced skepticism about performance and reliability issues.
Opportunity: MEMS are enabling miniaturization of devices and systems across many industries like automotive, consumer electronics, industrial, healthcare etc. This widespread applicability presents a major market opportunity. Advancements in fabrication technology will help address reliability issues further increasing adoption rates.
Threats: MEMS technology is evolving rapidly with many new players entering this space. Established companies face competition on costs from low-cost Asian manufacturers. Intellectual property issues can arise due to complexity of MEMS design and fabrication processes.

Key Takeaways
The global Microelectromechanical Systems (MEMS) Market Demand is expected to witness high growth driven by increasing demand for miniaturization across various industries. North America currently dominates the global market holding around 35% share majorly due to presence of major automotive OEMs and electronic device manufacturers in the region demanding MEMS solutions. The automotive industry is the largest end user segment globally and innovations in autonomous driving and vehicle electrification will boost MEMS adoption in automotive electrical and electronic systems.

Key players operating in the MEMS market are Nxp Semiconductors N.V., Analog Devices, Inc., and Knowles Corporation. Nxp Semiconductors is a global leader in driving innovation in the automotive and security industries with state of the art MEMS and mixed signal semiconductor solutions. Analog Devices focuses on MEMS for industrial, communications, automotive and consumer applications. Knowles specializes in MEMS microphones targeted at voice input solutions for mobile devices, hearing health applications, other consumer electronics, and IoT applications.

The Asia Pacific region is expected to witness the highest growth during the forecast period. This can be attributed to rising electronics manufacturing in China, Taiwan, South Korea and other ASEAN countries. Countries like China and Taiwan are emerging as major global hubs for MEMS fabrication with increasing focus on R&D and manufacturing capabilities by local players.

For more insights, Read- https://www.ukwebwire.com/microelectromechanical-systems-mems-market-size-and-share/

Comments

Post a Comment

Popular posts from this blog

The Notchback Market is Estimated To Witness High Growth Owing To Rising Demand From Emerging Economies

Image
  Notchback Market Market Overview: A notchback is a body style of cars characterized by a gently sloped rear window and greenhouse. Notchbacks provide practical interior space with good cargo capacity. They offer balanced interior volume for passengers and cargo along with sleek and stylish exterior design. The body style has advantages like no C-pillar which enhances visibility compared to sedans. Market key trends: The growth of the notchback market is attributed to rising demand from emerging economies like China, India and Brazil. These nations have growing middle-class population and increasing disposable income which is driving vehicle ownership. Moreover, notchback body style is quite popular in these developing markets due to its spacious cabin combined with stylish looks at affordable prices. Leading automakers are launching various notchback models to cater to the surging demand from developing countries, which is fueling the growth of the notchback market size during ...
Read more

The Bladder Liners Market Is Estimated To Witness High Growth Owing To Rising Prevalence Of Urinary Incontinence

Image
  Bladder Liners Market Market Overview: Benzodiazepines are a class of psychoactive drugs belonging to the benzodiazepine family. These drugs are prescribed for various medical conditions such as anxiety disorders, panic disorders, insomnia, seizures, alcohol withdrawal syndrome, muscle spasms, and as an anesthesia aid. Some common examples of benzodiazepines include alprazolam, clonazepam, diazepam, and lorazepam. These drugs work by increasing the action of gamma-aminobutyric acid (GABA), a major inhibitory neurotransmitter in the central nervous system. Due to their calming properties, they are widely used to treat insomnia, anxiety, panic attacks, agitation, seizures, muscle spasms, and alcohol withdrawal. Market Dynamics: The Benzodiazepine Drugs Market is primarily driven by the rising prevalence of anxiety disorders worldwide. As per Anxiety and Depression Association of America, anxiety disorders are the most common mental illness in the U.S., affecting nearly 40 million ...
Read more

Commercial Drones Market is Poised to Register Notable Growth Owing to Expanding Usage Across Varied Industries

Image
  Commercial Drones Market  The commercial drones market has been gaining significant traction over the recent years primarily driven by expanding deployment across various industries including agriculture, infrastructure, disaster management, and transportation among others. Commercial drones offer several advantages including cost-effectiveness, flexibility, precision and real-time monitoring capabilities. Meanwhile, growing popularity of drone delivery services across e-commerce as well as healthcare sectors has further catalyzed the market growth. Drones help in reducing operational costs while effectively meeting the target delivery timelines. Additionally, continuous technological advancements have resulted in miniaturization and development of drones with increased payload capacity and battery life. The Global commercial drones market is estimated to be valued at US$ 22.29 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031. Key T...
Read more