Microelectromechanical systems (MEMS) are miniaturized mechanical and electro-mechanical elements that are made using the techniques of microfabrication. MEMS are widely used across various application areas including consumer electronics, industrial, healthcare, automotive and others. In the consumer electronics industry, MEMS are increasingly being used in smartphones, tablets, wearables and other consumer devices. Sensors such as accelerometers and gyroscopes that utilize MEMS technology are crucial components in consumer electronics for motion sensing capabilities. The increasing adoption of IoT and growing functionality of consumer devices is expected to drive further demand for MEMS sensors.

The global Microelectromechanical Systems (MEMS) Market is estimated to be valued at US$ 27946.62 Mn in 2023 and is expected to exhibit a CAGR of 3.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

One of the major drivers for the growth of MEMS market is the growing application of MEMS in consumer electronics industry. With continuous advancements in technologies such as IoT, artificial intelligence, augmented reality/virtual reality and growing functionalities of consumer devices, the demand for MEMS-based motion and environmental sensors is increasing rapidly. MEMS accelerometers and gyroscopes are crucial for motion tracking and gesture recognition capabilities of devices. Additionally, adoption of technologies like facial recognition and augmented reality also drives the need for MEMS pressure and microphone sensors. The rapid growth of consumer electronics industry globally is expected to drive significant demand for MEMS during the forecast period.

The growing automotive industry is another major driver for MEMS market. MEMS sensors are increasingly being used in autonomous and semi-autonomous vehicles for applications such as inertial measurement, airbags, tire pressure monitoring and more. The trends towards autonomous driving and electrification of vehicles is generating high demand for MEMS technology. With ongoing development of automotive industry across both developed as well as developing regions, the automotive segment will continue to offer immense growth opportunities for MEMS over the next few years.

Segment Analysis

The MEMS market is dominated by the inertial sensors segment which holds a share of over 35% of the total market. These sensors are used in navigation systems, smartphones and other consumer electronics products. Their usage has increased substantially due to integration in automotive, industrial and medical applications as well. Other major segments include optical sensors, RF sensors, environmental sensors and medical sensors. The optical sensors segment is growing at a high rate owing to increased usage of biochips, optical imaging and displays.

PEST Analysis

Political: Government initiatives to encourage technology modernization in defense, healthcare and consumer electronics industries have boosted adoption of MEMS technology. Subsidies and tax incentives are being offered to promote local manufacturing of these devices.

Economic: Rising disposable incomes and improved standards of living have increased demand for consumer electronics and automobiles equipped with advanced MEMS sensors. Growth in ancillary industries like automotive and healthcare present new opportunities.

Social: Changing lifestyles and increasing preference for technology-driven features among consumers is fueling the MEMS market growth. Development of smart homes and cities will further augment the demand.

Technological: Advancements in chip miniaturization, material science and nanotechnology have enabled design of smaller, more sensitive and power efficient MEMS sensors. This has boosted their integration across a wider range of end-use industries.

Key Takeaways

The Global Microelectromechanical Systems (MEMS) Market Demand  is expected to witness high growth on account of extensive usage of these sensors in consumer electronics, automotive, industrial and medical sectors. The global Microelectromechanical Systems (MEMS) Market is estimated to be valued at US$ 27946.62 Mn in 2023 and is expected to exhibit a CAGR of 3.1% over the forecast period 2023 to 2030.

Regionally, Asia Pacific dominates the market and is estimated to maintain its leading position during the forecast period. The growth in this region can be attributed to strong manufacturing base of consumer electronics and medical device companies in countries like China, Taiwan and South Korea.

Key players operating in the MEMS market are Coltene Holding, Mocom, Dentsply Sirona, Euronda, W&H Dentalwerk, Midmark Corporation, Getinge AB, Tuttnauer, Shinva Medical Instrument Co. Ltd., and MELAG Medizintechnik GmbH & Co. KG, among others. These companies are focusing on new product launches and partnerships to expand their share and capabilities in therapeutic areas like infection control, cleaning & disinfection, and sterilization.

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