What Does the Historical and Current Microelectromechanical Systems Market Size Trend Indicate?
The microelectromechanical systems market has seen considerable growth due to a variety of factors.
• In recent times, the microelectromechanical systems market has seen quick escalation in its size. It is predicted that the market, which stands at $20.07 billion in 2024, will increase to $22.69 billion in 2025, reflecting a compound annual growth rate (CAGR) of 13.0%.
Elements such as demand for miniaturization, the expansion of consumer electronics, advancements in automotive safety, growth in healthcare diagnostics, and an increase in environmental monitoring are responsible for this historical period growth.
How Will the Microelectromechanical Systems Market Size Evolve over the Forecast Period?
The microelectromechanical systems market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for microelectromechanical systems is anticipated to witness swift expansion in the coming years, estimating to reach $35.98 billion in 2029 with a compound annual growth rate (CAGR) of 12.2%.
This growth during the projection timeframe can be credited to sectors like autonomous vehicles, precision agriculture, aerospace and defense, energy harvesting, and biomedical implants. In the prediction interval, developing trends encompass advancements in nanotechnology, 5g and beyond, smart cities, edge computing, and healthcare wearables.
What Factors Are Driving Growth In The Microelectromechanical Systems Market?
The microelectromechanical systems market is likely to experience growth influenced by the escalating demand for miniaturization in various electronic devices. This process involves accommodating more transistor nodes on a modestly sized integrated circuit (IC). The popularity of small-sized devices has grown due to the reduction in average selling prices, affordability, minimal space requirement, and superior precision. Wearable technology has driven up the need for mini components due to its capability to be directly soldered onto circuit boards, leading to a fall in technology cost. As an example, a report by SQMagazine, a magazine in Singapore, in October 2023, announced a 24% yearly surge in smartwatch shipments in Q2 2022. Also, the average selling price of smartwatches showed a 6% rise to stand at $309, compared to the prior year. As a result, the demand for device miniaturization is fueling the growth of the microelectromechanical systems market.
What Are The Main Segments Of The Global Microelectromechanical Systems Market?
The microelectromechanical systems market covered in this report is segmented –
1) By Type: Sensors, Actuators
2) By Application: Consumer Electronics, Automotive, Industrial, Aerospace And Defense, Healthcare, Telecommunication, Other Applications
Subsegments:
1) By Sensors: Accelerometers, Gyroscopes, Pressure Sensors, Microphones, Optical Sensors, Chemical Sensors
2) By Actuators: Micro Motors, Piezoelectric Actuators, Thermal Actuators, Shape Memory Alloy (SMA) Actuators
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What Emerging Trends Are Influencing The Growth Of The Microelectromechanical Systems Market?
The microelectromechanical systems market is witnessing increasing popularity of innovations. The predominant entities in the market are striving to launch inventive products to achieve a competitive advantage over their rivals. Take for example, Panasonic Life Solutions India Pvt. Ltd, a firm based in India, which in December 2023 rolled out an ingenious 6-in-1, 6DoF (Degrees of Freedom) Inertial Sensor. This state-of-the-art sensor amalgamates multiple features into a single entity, thereby boosting its use in numerous domains like automotive and industrial automation. This is achieved by offering accurate motion tracking and orientation details for robotics, intelligent devices, and vehicle stability systems. This product not only amps up system performance, but also paves the way for development of intelligent, high-efficiency technologies in numerous fields.
Who Are the Key Players in the Microelectromechanical Systems Market?
Major companies operating in the microelectromechanical systems market include:
• STMicroelectronics Pvt. Ltd.
• Hewlett Packard Enterprise Ltd.
• Texas Instruments Incorporated
• Bosch Limited
• Robert Bosch GmbH
• Analog Devices Inc.
• NXP Semiconductors N.V.
• Panasonic Corp.
• Tyco Electronics Ltd.
• Broadcom Inc.
• Honeywell International Inc.
• Knowles Corp. LLC
• Infineon Technologies AG
• GoerTek Inc.
• TDK Corporation
• Qorvo Inc.
• Murata Manufacturing Co. Ltd.
• Sensirion AG
• InvenSense Inc.
• AAC Technologies Holdings Inc.
• Silicon Laboratories Inc.
• Omron Corporation
• MEMSIC Inc.
• Knowles Corporation
• Vesper Technologies Inc.
• Tronics Microsystems SA
• X-FAB Silicon Foundries SE
• SiTime Corporation
• MEMSensing Microsystems SA
• mCube Inc.
What Is The Most Dominant Region In The Microelectromechanical Systems Market?
Asia-Pacific was the largest region in the microelectromechanical systems market in 2024. The regions covered in the microelectromechanical systems market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
