Micro-Electro-Mechanical Systems (MEMS) Market Size and Market Share
Meticulous Research®—a top global market research firm—has released a new report titled, ‘Global Micro-Electro-Mechanical System (MEMS) Market by Component (Sensor [Motion, Optical, Proximity, Others], Actuator, Electronic Circuits), End-user (Automotive, Healthcare, Aerospace & Defense, Biotechnology, Others) & Geography—Forecasts to 2031’.
The report forecasts that the MEMS market will reach $31.4 billion by 2031, with a CAGR of 8.8% from 2024 to 2031. This growth is fueled by the rise in IoT devices and the demand for smaller electronic devices. Nevertheless, the significant initial costs for MEMS manufacturing facilities may limit market growth.
The analysis highlights potential opportunities from the growing adoption of smart technologies and advancements in sensor fusion. However, challenges such as a shortage of skilled professionals and a lack of standardization remain.
Component-wise, the market is divided into sensors, actuators, and electronic circuits. Sensors are projected to dominate with over 59.0% of the market share in 2024, owing to advancements in technology and rising demand for real-time data.
The sensor segment is also set to grow at the fastest rate, driven by IoT developments and increased automation needs across various sectors including automotive and healthcare.
For end-users, consumer electronics & appliances are expected to hold over 45.0% of the market share in 2024, thanks to advancements in smart home technologies. The healthcare segment, however, is projected to grow at the highest rate due to the increasing use of MEMS in medical applications.
Geographically, Asia-Pacific is anticipated to have the largest market share of over 43.0% in 2024 and the highest CAGR of over 10% due to rising industrialization, infrastructure projects, and smart technology adoption.
Key Players:
Some of the key players operating in the micro-electro-mechanical system (MEMS) market are Analog Devices, Inc. (U.S.), MinebeaMitsumi, Inc. (Japan), STMicroelectronics N.V. (Switzerland), Mouser Electronics, Inc. (U.S.), Texas Instruments Incorporated (U.S.), Infineon Technologies AG (Germany), NXP Semiconductors N.V. (Netherlands), First Sensor AG (Germany), TDK Corporation (Japan), FLUSSO Limited (U.K.), Melexis N.V. (Belgium), Teledyne Technologies Incorporated (U.S.), Amphenol Advanced Sensors (U.S.), AAC Technologies (China) and Robert Bosch GmbH (Germany).
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Key questions answered in the report-
Which are the high-growth market segments based on component and end-user?
What was the historical market for micro-electro-mechanical systems (MEMS)?
What are the market forecasts and estimates for the period 2024–2031?
What are the major drivers, restraints, and opportunities in the micro-electro-mechanical system (MEMS) market?
Who are the major players, and what shares do they hold in the micro-electro-mechanical system (MEMS) market?
How is the competitive landscape in the micro-electro-mechanical system (MEMS) market?
What are the recent developments in the micro-electro-mechanical system (MEMS) market?
What are the different strategies adopted by the major players in the micro-electro-mechanical system (MEMS) market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the global micro-electro-mechanical system (MEMS) market, and how do they compete with the other players?
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