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.
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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.
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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.
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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.
“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.
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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.
MEMS (Micro-Electromechanical System) Sensor Market Segmentation
Fact.MR has studied the MEMS (Micro-Electromechanical System) sensor market with detailed segmentation on the basis of type, fabrication material, application and key regions.
- Mechanical Sensors
- Optical Sensors
- Thermal Sensors
- Chemical & Biological Sensors
- Other Sensors
- North America
- Latin America
“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.”
MEMS (Micro-Electromechanical System) Sensor Market- Global Industry Analysis
The recent study by Fact.MR on the MEMS (Micro-Electromechanical System) sensor market offers 10-year forecast for the period, 2020-2027. The study analyzes crucial trends that are currently determining the growth of the MEMS (Micro-Electromechanical System) sensor market. This report explicates on vital dynamics, such as drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with the manufacturing of MEMS (Micro-Electromechanical System) sensor. The study also provides dynamics that are expected to influence the future status of the Micro-Electromechanical System sensor market over the forecast period.
A detailed assessment of value chain analysis, business executions, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the MEMS (Micro-Electromechanical System) sensor market enhances the reliability of this comprehensive research study.
MEMS (Micro-Electromechanical System) Sensor Market: Report Summary
The study offers a comprehensive analysis on diverse features including demand, product developments, policy & regulatory landscape, revenue generation, and sales in the MEMS (Micro-Electromechanical System) sensor market across the globe.
A comprehensive estimate on the MEMS (Micro-Electromechanical System) sensor market has also been considered through an optimistic scenario as well as conservative scenario regarding sales of MEMS (Micro-Electromechanical System) sensors during the forecast period. Price point comparison by regions with global average price is also considered in the study.
MEMS (Micro-Electromechanical System) Sensor Market: Market Size Evaluation
The study provides each market segment in terms of value (US$ Mn) analysis in the MEMS (Micro-Electromechanical System) sensor market.
Market estimates at global and regional levels for MEMS (Micro-Electromechanical System) sensor are available in terms of “US$ Mn” for value. A Y-o-Y growth contrast on prominent MEMS (Micro-Electromechanical System) sensor market segments, along with the market attractiveness evaluation have been incorporated in the report. Another key feature of the MEMS (Micro-Electromechanical System) sensor market report is the analysis of all key segments in terms of absolute dollar. Absolute dollar opportunity is critical in assessing the level of opportunity that a manufacturer can look to achieve as well as identify potential resources, from sales and delivery perspectives in the MEMS (Micro-Electromechanical System) sensor market.
MEMS (Micro-Electromechanical System) Sensor Market: Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which help deliver projections on regional markets. This chapter include regional macros (political economic, and business environment outlook), which are expected to have a momentous influence on the growth of the MEMS (Micro-Electromechanical System) sensor market during the forecast period.
Country-specific valuations on demand for MEMS (Micro-Electromechanical System) sensor have been offered for each regional market, along with market scope estimates and forecast, price index, and impact analysis of prominence in regions and countries. Regional markets Y-o-Y growth estimates have also incorporated in the report.
Detail breakup in terms of value for emerging countries have also been included in the report.
MEMS (Micro-Electromechanical System) Sensor Market: In-depth Analysis on Competitive Landscape
The report sheds light on leading players of the MEMS (Micro-Electromechanical System) sensor market, along with their detailed profiles. Essential and up-to-date data information related to market players, who are principally engaged in the production of MEMS (Micro-Electromechanical System) sensors have been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permit report readers to take preemptive steps in advancing their businesses.
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