CHICAGO, March 29, 2024 /PRNewswire/ -- The
Micro-electro-mechanical System (MEMS) market is projected to grow
from USD 16.5 billion in 2024 and is
estimated to reach USD 24.2 billion
by 2029; it is expected to grow at a Compound Annual Growth Rate
(CAGR) of 7.9% from 2024 to 2029 according to a new report by
MarketsandMarkets™. The growth of the MEMS market is
driven by the growing adoption of RF MEMS technology in consumer
electronics and LTE networks, Proliferation of IoT devices by
manufacturing firms, Growing adoption of smart consumer
electronics.
Download PDF
Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=13689179
Browse in-depth TOC on "Micro-Electro-Mechanical
System (MEMS) Market"
188 – Tables
74 – Figures
321 – Pages
Micro-Electro-Mechanical System (MEMS) Market
Report Scope:
Report
Coverage
|
Details
|
Market Revenue in
2024
|
$ 16.5 billion
|
Estimated Value by
2029
|
$ 24.2 billion
|
Growth Rate
|
Poised to grow at a
CAGR of 7.9%
|
Market Size Available
for
|
2020–2029
|
Forecast
Period
|
2024–2029
|
Forecast
Units
|
Value (USD
Million/Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
By Sensor Type,
Actuator Type, Vertical and Region
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, and Rest of World
|
Key Market
Challenge
|
Shortage of skilled
designers
|
Key Market
Opportunities
|
Widening application
scope of MEMS technology
|
Key Market
Drivers
|
Rising demand for
miniaturization of devices
|
By Sensor Type, the microspeaker are projected to grow
at a high CAGR of MEMS market during the forecast period.
The rise of MEMS microspeakers signals a transformative shift in
audio technology, leveraging advanced materials science to achieve
smaller, lighter, and more efficient designs. This innovation is
driven by the integration of MEMS technology with automated
production lines, streamlining manufacturing processes and ensuring
scalability. As MEMS microspeakers continue to proliferate across
consumer electronics, their adoption in automated production lines
accelerates, promising enhanced audio experiences and widespread
accessibility in various applications. In November 2023, xMEMS Labs Inc. developed a
sound-from-ultrasound MEMS speaker, enabling the replacement of
coil speakers in noise-canceling earbuds. This innovation utilizes
ultrasound carrier and demodulation for smaller MEMS microspeakers
with adequate bass response. This advancement is poised to drive
significant growth in the MEMS market, offering smaller and more
efficient microspeakers with enhanced bass response, thus meeting
the demands of various applications including noise-canceling
earbuds.
RF MEMS products in Actuator Type segment in MEMS market is
expected to account for the largest share during the forecast
period.
RF switches are crucial components in the RF front-end design of
smart mobile devices, enabling seamless switching between different
frequency bands and wireless services. As modern smartphones and
tablets incorporate multiple wireless communication technologies,
including cellular, Wi-Fi, GPS, Bluetooth, and more, the demand for
RF switches has grown significantly. These switches play a vital
role in optimizing connectivity, enhancing data rates, and
improving signal quality in mobile devices. Continuous advancements
and increasing demand for enhanced mobile connectivity position
MEMS devices to play a pivotal role in modeling the future of
smartphones and other mobile devices. In December 2023, Qorvo, a leading RF component
manufacturer, announced the production of its next-generation BAW
(Bulk Acoustic Wave) filter technology, which integrates seamlessly
with RF MEMS switches for enhanced performance and miniaturization
in 5G smartphones.
Consumer Electronics segment in MEMS Industry will account
for largest share during the forecast period.
The consumer electronics segment represents a crucial arena for
MEMS (Microelectromechanical Systems) technology, witnessing its
widespread adoption across various devices. These systems are
widely adopted in electronic equipment such as smartphones,
tablets, wearable devices, digital cameras, laptops, portable media
players, portable navigation devices, gaming consoles, and
e-readers. This adoption is fueled by several factors, including
the demand for improved electrical performance at high frequencies,
the proliferation of IoT (Internet of Things) devices, and the
integration of multiple chips for sensor and actuator applications
in smartphones.
Inquiry Before Buying:
https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=13689179
Asia Pacific will account
for the highest CAGR during the forecast period.
As semiconductor demand increases, there will be a corresponding
rise in the need for MEMS sensors and devices, which are essential
components in various semiconductor applications. China is a global manufacturing hub for
various end-user industries, such as semiconductors and automotive
that produce home appliances, smartphones, and computer and
peripheral devices. The country has immense potential for the
production and sale of sensor-based devices. Moreover, the MEMS
demand in China is projected to
advanced significantly owing to the presence of leading automotive
manufacturing facilities. According to International Energy Agency
(IEA), China dominates global
electric car sales, accounting for around 60% of global electric
car sales in 2022. This prominence is expected to significantly
influence the MEMS market in the Asia-Pacific (APAC) region.
Key Players
Key companies operating in the MEMS companies are Robert Bosch
GmbH (Germany), Broadcom (US),
Qorvo, Inc (US), STMicroelectronics (Switzerland), Texas Instruments (US), Goertek
microelectronics Inc (China),
Hewlett Packard Enterprise Development LP (US), TDK Corporation
(Japan), Knowles Electronics, LLC
(US), Infineon Technologies AG (Germany), Honeywell International (US), Analog
Devices, Inc (US), among others.
Get 10% Free Customization on this Report:
https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=13689179
Browse Adjacent Market: Semiconductor and Electronics
Market Research Reports &Consulting
Related Reports:
IoT Sensors Market by Sensor Type (Pressure, Temperature,
Humidity, Image, Inertial, Gyroscope, Touch), Network Technology
(Wired and Wireless), Vertical (Commercial IoT and Industrial IoT)
and Region - Global Forecast to 2029
Automotive Sensors Market Size, Share, Statistics and
Industry Growth Analysis Report by Sales Channel (OEM,
Aftermarket), Type (Temperature, Pressure, Oxygen, Position, Speed,
Inertial, Image, Level, Chemical Sensors), Vehicle Type (Passenger
Car, LCV, HCV), Application, Region - Global Forecast to 2028
Digital Printing Market Size, Share & Industry Growth
Analysis Report by Ink (UV-cured, Aqueous, Solvent, Latex, and Dye
Sublimation), Printheads (Inkjet and Laser), Substrate (Plastic
Film or Foil, Release Liner, Glass, Textile, Paper, Ceramic), and
Geography - Global Growth Driver and Industry Forecast to 2026
Smart Sensors Market by Type (Temperature & Humidity
Sensor, Pressure Sensor, Motion & Occupancy Sensor), Technology
(CMOS, MEMS), Component (Microcontrollers, Amplifiers,
Transceivers), End-User Industry and Region - Global Forecast to
2029
MEMS Sensor Market for Automotive by Type (Inertial Sensor,
Microphone, & Pressure Sensor), Application (ADAS, ECU, ESC,
HVAC, Safety & Security, In-Car Navigation, OIS Camera,
Microphone in Cabin, & TPMS), & Geography - Analysis &
Forecast (2014 - 2020)
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America's
best management consulting firms by Forbes, as per their recent
report.
MarketsandMarkets™ is a blue ocean alternative in growth
consulting and program management, leveraging a man-machine
offering to drive supernormal growth for progressive organizations
in the B2B space. We have the widest lens on emerging technologies,
making us proficient in co-creating supernormal growth for
clients.
Earlier this year, we made a formal transformation into one of
America's best management consulting firms as per a survey
conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are
substituting existing revenue streams in this decade alone. We work
with clients on growth programs, helping them monetize this
$25 trillion opportunity through our
service lines - TAM Expansion, Go-to-Market (GTM) Strategy to
Execution, Market Share Gain, Account Enablement, and Thought
Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several
Forbes Global 2000 B2B companies - helping them stay relevant in a
disruptive ecosystem. Our insights and strategies are molded by our
industry experts, cutting-edge AI-powered Market Intelligence
Cloud, and years of research. The KnowledgeStore™ (our Market
Intelligence Cloud) integrates our research, facilitates an
analysis of interconnections through a set of applications, helping
clients look at the entire ecosystem and understand the revenue
shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us
on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight:
https://www.marketsandmarkets.com/ResearchInsight/mems-market.asp
Content Source:
https://www.marketsandmarkets.com/PressReleases/mems.asp
Logo:
https://mma.prnewswire.com/media/2297424/MarketsandMarkets_Logo.jpg
View original
content:https://www.prnewswire.co.uk/news-releases/micro-electro-mechanical-system-mems-market-worth-24-2-billion-by-2029---exclusive-report-by-marketsandmarkets-302102367.html