MEMS and Sensor Market Size - Business Growth, Statistics, Share, Key Country and Regional Forecast 2023

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MEMS and Sensor Market Size - Business Growth, Statistics, Share, Key Country and Regional Forecast 2023

Global MEMS and Sensor Market Size Overview:

Technology that includes both mechanical and electrical components are called as micro-electro-mechanical systems. It has components like sensors, actuators, microelectronics, and miniaturized structures. The global MEMS and Sensor Market Size is anticipated to upscale at a robust CAGR of 10.2% during the forecast period of 2018-2023, as mentioned in the latest MRFR analysis. The global MEMS and Sensor Market Size is expected to register an approximate market value of USD 26.1 million by the end of 2023.

The MEMS and Sensor Market Size is ascending at a fast pace owing to the increasing demand for IoT technology and the mounting adoption of connected devices. MEMS sensors have extensive applications in wearable devices and consumer electronics such as smartphones, laptops, tablets, digital cameras, portable media players, and navigation devices. Moreover, the MEMS have found a wide scope of application in several end-user industry verticals including healthcare for several applications such as imaging applications, for diagnostic and treatment equipment positioning applications, and medical devices such as bionic limbs and other artificial body parts.

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Increasing adoption of smart connected devices which includes smart wearable devices, smart homes, and connected cars, coupled with the huge ascension noted in the automotive sector is expected to promote the growth noted by the MEMS and Sensor Market Size. However, complex manufacturing and packaging process for MEMS for prevention of electrical and other devices from water and air contamination is expected to hamper the market growth during the review period.

Market Segmentation:

The global MEMS and Sensor Market Size is segmented by material, types, application, and region for gaining insight in deeper trends and better decision-making. By application, the global MEMS and Sensor Market Size is segmented into healthcare, consumer electronics, aerospace and defense, industrial, and automotive. The MEMS accelerometer sensors are commonly used in electric devices like laptops and smartphones. The accelerometers are integrated in laptops owing to its capability detection of sudden free fall and immediately turn off the hard drive to prevent damage. These accelerometers are integrated in smartphones for the provision of various features like image stability, menu navigation, text scroll, silent mode activation, shock detection, and motion dialing.

By type, the market is segmented into microphones, inertial, pressure, optical, and environmental. By material, the MEMS and Sensor Market Size is segmented into polymer, silicon, ceramic, and metal.

Detailed Regional Analysis:

The global MEMS and Sensor Market Size has been studied on a geographical basis and segmented into North America, Europe, Asia-Pacific, and the rest of the world. North America is one of the earliest adopters of this technology and accounts for a significant share of the market over the forecast period. Growth in this regional market can be primarily owed to the presence of several market giants in the region including Qualcomm, Honeywell, and InvenSense. Increasing adoption of smart devices such as smart wearables, PDAs, computing devices, and smartphones are some other factors driving the MEMS and Sensor Market Size in North America.

Asia Pacific is anticipated to hold the largest share in the global MEMS and Sensor Market Size due to the proliferation of the Chinese market. This proliferation can be owed to the upscaling adoption of smart consumer electronics and the presence of several key players in the region.

Key Players:

Some prominent players prevalent in the global MEMS and Sensor Market Size include STMicroelectronics (Europe), Robert Bosch GmbH (Germany), NXP Semiconductors (Netherlands), Texas Instruments (US), Panasonic (Japan), Murata Manufacturing Co (Japan), Invensense (US), Hewlett Packard (US), Honeywell (US), Qualcomm (US), Infineon (Germany), Allego microsystems (US), Mega Chips Corporation (Japan), Denso Corporation (Japan), Hitachi Ltd (Japan).

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