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MEMS Sensor Market

Optical MEMS Sensors Dominating MEMS Sensors Market by Registering 18% CAGR: Fact.MR Study

Published : 14 Jan 2022 Industry: Technology

Fact.MR predicts the global sales of MEMS sensors to exceed US$ 75 Bn by registering a staggering double-digit CAGR of 18.01% in the forecast period 2022-2032. Consumer electronics remain a key application area of MEM sensors, and account for a majority of the total market value. Mounting demand for customized and intelligent cars has resulted in opening up numerous opportunities for MEMS sensor market players.

Historically, from 2017 to 2021, the sales of MEMS sensors registered a CAGR worth 15%. The outbreak of the COVID-19 impacted the demand for MEMS sensors, primarily by the aftereffect of nationwide lockdown and disrupted supply chains. Significant rise in demand for essential services and goods during the pandemic has resulted in downsizing demand for consumer electronics such as smart phones, smart watches, and other smart wearable devices. As the world is gaining back normalcy, the demand for MEMS sensors is expected to retrieve.

Moreover, polymer fabricated MEMS sensor is expected to be the most attractive segment, due to their high functional properties. Increasing usage of polymer fabricated MEMS in automotive, medical, and biotechnology industries will continue to offer tailwinds to the market growth.

Key Takeaways from the Market Study

  • By fabrication material, polymer fabricated MEMS sensors expected to account for nearly 35% market share for MEMS sensors.
  • By type, optical MEMS sensor expected to register a 22% market share
  • MEMS sensor industry expected to register a CAGR of 18% throughout North America.
  • MEMS sensor industry expected to garner US$ 8.1 Mn market revenue throughout Asia Pacific.

Advancement in telecom network infrastructure and the rise of connected and autonomous vehicles are set to boost demand for MEMS sensors with polymer as key formulation material,” says the Fact.MR analyst.

Competitive Landscape

  • In January 2021, Honeywell International Inc announced that the company is creating the next generation of inertial sensor technology that will be used in commercial and defense navigation applications. The company is focusing on building sensors that increase performance without changing the size or the weight of the IMU.
  • In September 2021, STMicroelectronics N.V announces the first multi-zone Flightsense time of flight sensor for various general purpose applications. The company is focusing on providing the same to a wide spectrum of industrial and consumer products.

More Valuable Insights

Fact.MR, in its new offering, presents an unbiased analysis of the global MEMS sensor market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.

The study indulges essential insights on the market on the basis of type (mechanical sensors, optical sensors, thermal sensors, chemical & biological sensors and other sensors), fabrication material (silicon, polymers, ceramics, and metal) and application (automotive, consumer, medical, industrial and others) across five major regions (North America, Latin America, Europe, APAC and MEA).

Fact.MR’s Domain Knowledge in Technology

Our ICT consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the ICT sector. Our expertise in recognizing the challenges and trends impacting the global ICT industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.

For more information, refer to our market research report or contact the PR author.

Shubham Patidar

Fact.MR

Sr. Consultant – Technology

E-mail: shubham@factmr.com

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MEMS Sensor Market Analysis by Type (Mechanical, Optical, Chemical & Biological, Thermal MEMS Sensors), by Fabrication Material (Silicon, Polymer, Ceramic, Metal MEMS Sensors), by Application, by Region - Global Forecast 2022-2032