MEMS Sensor Market Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2020 to 2027

Global MEMS (Micro-Electromechanical System) Sensor Market Insights: Technological Advancement in Semiconductor Industry Remains Key Revenue Generator

The global micro electro mechanical systems (MEMS) sensor market is expected to witness tremendous growth owing to high technological advancement in field of semiconductor and telecommunication industry. In recent times, MEMS sensors have become the key component of whole new classes of devices such as smart watches, fitness tracker, virtual reality (VR) glasses and smart sensors nodes for Internet of Things (IoT). Evolution of MEMS sensors have led to reduction in size, making these sensors more compact and efficient, cost-effective, and compatible.

The ubiquity of smartphones and massive influx of advanced consumer electronics will continue to drive the MEMS sensor market growth over the forecast period (2020-2027). MEMS sensor manufacturers are focusing on identifying and leveraging white spaces in application of their products in automotive and healthcare industries.

Greater emphasis on safety features and favorable regulatory policies for automotive electronics along with increased automation in the healthcare industry are projected to drive the MEMS sensor market. In addition, the launch of Next Generation Network (NGN) and implementation of Internet of Things (IoT) in various enterprises are expected to fuel the MEMS sensor market growth. Moreover, with increasing application scope in biotechnology, smart city, smart grids, smart stadium and connected cars, the MEMS sensor market is set to register a CAGR of 18% over the forecast period.

Market Analysis by Fabrication Material: Polymer Fabricated MEMS Sensor to Account for Lion’s Share

Demand for MEMS sensors processed with polymer as fabrication material is poised to grow at a higher rate compared to other fabrication material such as silicon, ceramic, and metal over the forecast period. With fast-expanding range of application, from semiconductor chip to flexible devices, demand for MEMS sensors fabricated with polymer will continue to grow at an impressive rate.

Polymer fabricated MEMS sensors provide novel and better functionality at lower cost compared to other fabricated materials. Ceramic fabricated MEMS sensor is also emerging as a preferred product and expected to account for more than one-fourth of global market share by 2027. This is attributable to its ability to facilitate small-scale engineering to achieve sensor miniaturization with flexible design.

Market Analysis by Application: Industrial Application to Generate Lucrative Opportunities

MEMS sensor finds its usage in numerous technical application, ranging from automotive to medical industry. Advancement in field of medical, communication and biotechnology is projected to drive demand for MEMS sensors over the forecast period. Application of MEMS sensors in the automotive industry is expected to show significant growth, backed by increased automation in automotive manufacturing and introduction of connected autonomous cars.

Increasing disposable income has also resulted in mounting demand for smart devices such as smart phones, smart watches, and wearable devices. Subsequently, use of MEM sensors in consumer electronics is likely to account for nearly half of the global market value by end of the forecast period.

Market Analysis by Sensors: Optical MEMS Sensor to Gain Significant Traction as result of Fiberization

Optical MEMS sensor continues to account for a major share of manufacturers’ bottom lines, with increasing adoption of FTTH services and fiberization of telecommunication BTS. Furthermore, introduction of NGN backed by concept of MIMO (Multiple-Input-Multiple-Output) will drive sales of optical MEMS sensors with impressive growth rate of 22% over the forecast period.

Chemicals and biological sensors will follow the growth trend with increasing adoption in remote surgery and other biomedical applications. Mechanical MEMS sensor is also gaining significant momentum, which is expected to account for 30% of total market revenue by 2027.

Regional Insights: Asia Pacific to Take the Center Stage

North America is seen as most lucrative region for the MEMS sensor market, backed by high growth in consumer electronics industry as well as increased demand for modern automobiles and wearable devices. Regional trend and regulatory policies play an important role in development of the MEMS sensor and semiconductor markets.

Europe is expected to hold second-largest share of the MEMS sensor market, owing to increasing awareness about technically advanced and eco-friendly electronic equipment. With favorable regulatory compliances and sustained demand for renewable energy infrastructure, power electronics and automotive, developing economies such as India and China are emerging as fastest growing markets for MEMS sensors.

COVID-19 Impact on MEMS Sensors Market

As with many industries, outbreak of the COVID-19 is impacting 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.

China and U.S. are major consumers of MEMS sensors, backed by booming automotive industry and increasing demand for IoT applications. However, imposition of lockdown in these countries along with other developing countries such as IndiaJapan has hampered the demand for MEMS sensors.  

MEMS (Micro-Electromechanical System) Sensors Market Competition: Key Players to Prioritize Product Portfolio Expansion

Prominent players in the MEMS sensor market performance coating are focusing on the expansion of their product line to meet demand associated with different applications and segments. For instance, in November 2019, Cree, Inc. and STMicroelectronics announced the expansion and extension of their long-term silicon carbide (SiC) wafer supply agreement. This agreement was aimed at multiplying value for the supply of MEMS sensors to Cree by nearly doubling its volume over the duration of 10 years.

Besides, these key players are also entering into long-term collaboration with end-use industries and raw material suppliers to strengthen their presence in both regional and global markets.

Analysts Viewpoint

“With the fast development of 5G network technology, MEMS sensors are set to play a more critical role in providing information to modern-day consumers. Combining with the benefits of IoT, AI, and VR, the next-generation of MEM sensors will assist end users in interacting with devices, ranging from consumer electronics to industrial equipment,” says the Fact.MR analyst. 

MEMS (Micro-Electromechanical System) Sensor Market: Scope of the Report

Fact.MR published an exclusive forecast report for the MEMS sensor market for the forecast period (2020-2027). The foremost objective of this report on the MEMS sensor market is to pitch spearhead insights on market scenario, demand generators, and technological advancements.. The study on the MEMS sensor market also addresses key dynamics, which are expected to diversify the sales and future prominence of the MEMS sensor market.         

The report on the MEMS sensor market begins with an executive overview in which product definition has been provided. The report further proceeds with taxonomy of the MEMS sensor market, elaborating on the key segments. Also, the report outlines visionary insights on dynamics of the MEMS sensor market including drivers, restraints, opportunities, trends, and pricing analysis along with the key buying factors for MEMS sensor.

Supply chain analysis and pricing analysis of the MEMS sensor market along with the difference between MEMS sensor used as per applications have also been included in the report to help the readers clearly understand the product framework map in the MEMS sensor market. The report also includes an exclusive chapter on COVID-19 impact analysis to help stakeholders craft strategic plans to maintain business continuity during the pandemic.