Asia-Pacific is the fastest growing region in the microelectromechanical systems market, and is expected to continue this trend over the 2016-2024, owing to increase in the awareness and consumption, especially in China and India. Asia-Pacific holds 52.9% of the market, followed by North America which had 22.7% in 2016.
Microelectromechanical Systems (MEMS) Market Report, published by Variant Market Research, forecast that the global market was valued at $15 billion in 2016 and expected to reach $35 billion by 2024; growing at a CAGR of 11.4% from 2016 to 2024. In geographical segments, Asia Pacific and RoW anticipated to grow at a fastest CAGR of 12.4% and 12.1%, respectively, over the forecast period 2016-2024.
Global Microelectromechanical Systems (MEMS) Market is majorly driven by advanced technology, which has resulted in the decrease in size of devices, making cost effective and efficient and consumer’s preferences for improved vehicle features for safety and comfort. Though, lack of technical consciousness may hamper the market growth.Furthermore, stringent rules and regulations by government for vehicles fuel efficiency and emission standards would provide growth opportunities for the market during the forecast period 2016 - 2024.
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The global MEMS market has been categorized into product type, industry vertical and geography. The Product type segment contains sensors (accelerometer, gyroscope, pressure sensor, inertial combos, microphone, magnetometer and others such as environment and optical sensor), actuators (inkject systems, optical MEMS such as projection system, autofocus, micromirror and micro displays, oscillators & resonators, micro fluidic & bio-chip, RF MEMS and others which include PIR & thermopiles, microbolometers and digital compass).
Industry vertical segment includes consumer electronics, automotive, industrial, aerospace and defense, healthcare and telecommunication.
In industry vertical segment, consumer electronics and automotives accounted for 49.9% and 26.1% respectively, in 2016. And in type segment, sensor holds 55.8% of the market followed by actuators.
In sensors, accelerometer is expected to maintain its leading position during the forecast period, followed by gyroscope.
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North America, Europe, Asia-Pacific and Rest of the World (RoW) are the major regions covered in the report. Asia-Pacific is the highest growing region in the microelectromechanical systems market, and is projected to continue this trend over the 2016-2024, owing to rise in the awareness and utilization, especially in China and India.
Asia-Pacific accounted for the highest market share of 52.9% of the market, followed by North America which had 22.7% in 2016.
The major key players operating in the market comprises Panasonic Corporation (Japan), Canon Inc. (Japan), Hewlett-Packard Company (U.S.), Knowles Electronics (U.S.), Denso Corporation (Japan), InvenSense, Inc.
(U.S.), Analog Devices, Inc. (U.S.), Sensata Technologies, Inc. (U.S.), Avago Technologies (Singapore), and Seiko Epson Corporation (Japan).
Market players have used different strategies to raise their market share and global presence. In June 2016, Seiko Epson Corporation acquired Fratelli Robustelli S.r.l, a leader in the textile printing industry in June 2016.
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Scope of Microelectromechanical Systems (MEMS) Market
Product Type Segments
- Pressure sensor
- Inertial combos
- Others (Environment and Optical Sensor)
- Inkjet systems
- Optical MEMS (Projection System, Autofocus, Micromirror, and Micro Displays)
- Oscillators and Resonators
- micro fluidic and bio-chip
- RF MEMS
- Others (PIR and Thermopiles, Microbolometers, and Digital compass)
Industry Vertical Segments
- Consumer Electronic
- Aerospace and Defense
- North America
- United Kingdom
- South Korea
- South America
- Middle East
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