June 14, 2024
Microelectromechanical Systems (MEMS) Market

Microelectromechanical Systems (MEMS) is Expected to be Flourished by Growing Automotive Industry Applications

Microelectromechanical systems or MEMS are miniaturized devices and integrated systems that combine electrical and mechanical components. MEMS are used in automotive, consumer electronics, industrial, healthcare, and other industries. In the automotive sector, MEMS are utilized in airbag deployment systems, acceleration and angular rate sensors for stability control and anti-lock braking systems, microphone devices for noise cancellation, pressure sensors for tire-pressure monitoring systems, and microfluidic systems. The globalization of automotive industry has led to an increase in vehicle production annually, spurring the demand for advanced safety features like stability control and collision avoidance systems that use MEMS sensors.

The global Microelectromechanical Systems (MEMS) Market is estimated to be valued at US$ 27946 million in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics

Growing Automotive Industry Applications: As mentioned in the heading, the automotive industry has emerged as a prominent end-user of MEMS technology. MEMS are an integral part of electronic stability control and anti-lock braking systems that have now become mandatory in most regions. They are also being implemented in advanced driver-assistance systems for accident prevention. With automotive sales increasing globally, the deployment of MEMS sensors for vehicle safety and autonomous driving features is expected to drive the MEMS market.

Technological Advances: Continuous technological improvements are enabling the miniaturization of MEMS components along with enhancement of their sensitivity and functionality. Advanced fabrication techniques are allowing the integration of more than one MEMS and electronic components on a single chip. Furthermore, the development of new materials is expanding the operating parameters and capabilities of MEMS. Such technological evolutions are increasing the applicability of MEMS across diverse applications.

Segment Analysis

The global microelectromechanical systems (MEMS) market is dominated by the automotive segment which holds more than 30% share of the overall market. The automotive sector is utilizing MEMS technology for safety applications such as airbag deployment sensors as well as engine management systems. The demand for MEMS sensors from the automotive industry is increasing due to the rising need for advanced automotive electronics in vehicles. The widespread adoption of technologies such as advanced driver-assistance systems (ADAS), lane departure warning, emergency braking and blind-spot monitoring is driving the automotive segment.

PEST Analysis

Political: The governments across regions are supporting the adoption of MEMS technology by funding research projects. They are also formulating regulations to ensure road safety which is increasing the demand for MEMS sensors from automakers.

Economic: The global economy is growing steadily which is positively impacting the automotive and consumer electronics industries worldwide. This economic growth is increasing the disposable income of consumers which is driving the demand for MEMS-based consumer devices.

Social: Today’s consumers demand advanced features in smartphones and other consumer devices. They also expect high safety standards in vehicles. This rise in consumer expectations is propelling the demand for MEMS sensors from device manufacturers.

Technological: Continuous technological advancements are expanding the application areas of MEMS technology. Miniaturization of MEMS sensors has increased their usage in medical devices, AR/VR headsets and other miniature devices.

Key Takeaways

The Global Microelectromechanical Systems (MEMS) Market Demand is expected to witness high growth between 2023 and 2030.

The Asia Pacific region accounts for over 40% share of the global MEMS market led by China, Japan and South Korea. This is attributed to the large production volumes of MEMS sensors by Chinese manufacturers to cater to the rising demand from device OEMs located in the country. The growing use of MEMS sensors in automotive applications and smartphones is also driving the APAC market.

Key players operating in the microelectromechanical systems (MEMS) market are Robert Bosch GmbH, STMicroelectronics, Texas Instruments, Hewlett-Packard and Knowles Corporation. Robert Bosch GmbH and STMicroelectronics are the largest MEMS vendors globally.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it