Global MEMS Sensor Market Size to reach US$ 18.8 Bn by 2028
The Global MEMS Sensor Market Size was valued at US$ 11.3 Bn in 2021 and is projected to reach US$ 18.8 Bn by 2028, at a CAGR of 6.1%. Microelectromechanical systems (MEMS) are devices that associate electrical and mechanical elements on a micrometer scale device.
Sensors such as accelerometers, gyroscopes, digital compasses, inertial modules, pressure sensors, humidity sensors, and microphones are made using this technology, which incorporates very small moving mechanical elements and electrical components. Sensors made of microelectromechanical systems (MEMS) have a number of advantages, including accuracy and dependability, as well as the possibility to construct smaller electrical devices. As a result, they've gotten a lot of attention in recent years. MEMS sensors are finding new uses in miniaturized consumer devices such as IoT-connected devices and wearables.
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Sensors made of microelectromechanical systems (MEMS) have a number of advantages, including accuracy and dependability, as well as the possibility to construct smaller electrical devices. As a result, they've gotten a lot of attention in recent years. MEMS sensors are finding new uses in miniaturised consumer devices such as IoT-connected devices and wearables. MEMS devices also have reduced power consumption and higher sensitivity than their mechanical counterparts. A MEMS resonating strain gauge, for example, uses microwatts of power while providing nanostrain sensitivity. MEMS sensors are anticipated to play a more essential role in giving information to modern-day consumers as 5G network technology develops quickly. The next generation of MEMS sensors will help end users connect with products ranging from consumer electronics to industrial equipment by combining the benefits of IoT, AI, and VR.
The COVID-19 outbreak has had a negatively impact on the electronics and semiconductor industries. Due to an increase in the number of COVID-19 cases, business and manufacturing units in various countries have been closed, and they are expected to remain closed in 2021. Furthermore, the worldwide supply chain has been affected by partial or complete lockdown, making it difficult for manufacturers to contact customers. The COVID-19 pandemic is wreaking havoc on society and the global economy. The impact of this pandemic is expanding by the day, and it is harming worldwide business. The crisis is causing stock market uncertainty, which is leading to a drop in corporate confidence, a major slowdown in supply chains, and an increase in panic among customer segments.
The pressure sensor segment accounted largest market share in 2020 due to the growing demand for commercial end-users and rugged military across the world. The pressure sensor has multiple benefits coupled with robustness, lightweight, high density, and shock resistance. The industrial segment accounted largest market share in 2020 due to the growing demand for household and commercial end-users among the population. Increasing smart devices and smart home is propelling the growth of the global mems sensor market. Coupling with advance technologies including IoT, artificial intelligence, machine learning, cloud computing and others are used to secure data and collect information.
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Asia Pacific is expected to dominate the market share of global mems sensor market owing to the increasing demand for the sensors for computers, communications, and consumer electronics end-users, as well as for enhanced features and connectivity products. Furthermore, due to increased air passenger traffic, concerns about flight safety, and lower maintenance costs, the region is witnessing enormous expansion in the aviation sector, which has resulted in a demand for mems sensors. Increasing digitalization and huge population is creating the demand of mems sensors in the region. However, North America is anticipated to emerge as the fastest-growing region over the forecast period. Due to the presence of major key players and advanced technologies is propelling the growth of the global mems sensors market.
KEY INDUSTRY DEVELOPMENTS:
March 2022- Sensata Technologies announced collaboration with NIRA Dynamics AB Tread Depth Monitoring (TDM) ‘virtual sensor’ system for automotive OEMs which improves vehicle safety, efficiency and uptime. SensiML Corporation announced that it supports AI/ML development for the Arduino Nicla Sense ME featuring Bosch Sensortec sensors.
January 2022- TDK Corporation Corporation launches SmartMotion ultra-high-performance, BalancedGyro technology in a family of 6-axis MEMS motion sensors.
December 2021- Silex Microsystems and Elmos Semiconductor SE signed an agreement to purchase 200mm wafer fabrication activities with the use of sensors and actuators.
April 2021- Bosch Sensortec launched 4-in-1 Environmental MEMS Sensor, air quality MEMS sensor that combines four sensing features gas, humidity, temperature, and barometric pressure with AI-based technology.
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