The Microelectromechanical Systems (MEMS) Market is expected to garner $26.8 billion by 2022, registering a CAGR of 11.1% during the period 2016-2022.
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Asia-Pacific generated the highest revenue in this market, followed by North America and Europe. China held over 45% revenue share of the overall Asia-Pacific market, due to growth of automobile and consumer electronics segment.
Further, LAMEA is expected to witness considerable growth rate during the forecast period, owing to localization of manufacturing facilities within emerging consumer electronics market.
The MEMS industry displays fair degree of consolidation, with top five industry participants occupying a significant market share.
Robert Bosch, STMicroelectronics, and Texas Instruments are few of the leading companies in this industry. Other key players in the industry include Denso Corporation, Avago Technologies, Freescale Semiconductor, and Analog devices, Inc.
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