MEMS Sensor Market

MEMS Sensor Market Outlook (2022-2032)

The MEMS market garnered a market value of US$ 14.32 Bn in 2021. The market for MEMS is expected to register a CAGR of 18.01% by accumulating a market value of US$ 75 Bn through the forecast period 2022-2032.

Report Attributes	Details
Market Size Value in 2022	US$ 14.32 Bn
Project Market Forecast Value in 2032	US$ 75 Bn
Global Growth Rate (2022-2032)	18.01%
Market Share of Asia Pacific	US$ 8.1 Mn
Key Companies Profiled	STMicroelectronics N.V Robert Bosch Gmbh. NXP Semiconductors N.V. Panasonic Corporation Sensata Technologies Holding N.V. Honeywell International Inc. Texas Instruments Dalsa Semiconductors Micralyne Inc. Silex Microsystem AB SilTerra Malaysia Sdn. Bhd Taiwan Semiconductor Manufacturing Company Ltd, X – FAB Asia Pacific Microsystems Innovative Micro Technologies, Inc. Others

Increase in use of electronic devices is driving the demand for MEMS sensors. Moreover, manufacturers are focusing on integrating MEMS sensors with IoT. In addition, qualities of MEMS sensors such as being light-weight and requiring less energy is playing a crucial role in the adoption of MEMS sensors.

Demand Analysis of MEMS Sensor from 2017 to 2021 Vs Market Projections for 2022 to 2032

As per Fact.MR’s report, from 2017 to 2021, the sales of MEMS sensors surpassed US$ 29.18 Bn by the end of 2021, experiencing a CAGR of 15% during the said historical period.

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 MEMS sensors will assist end users in interacting with devices, ranging from consumer electronics to industrial equipment.

Thus, due to the aforementioned reasons, the sales of MEM sensors exceeded US$ 75 Bn by registering a double-digit CAGR of 18.01% in the assessment period 2022-2032.

Recent Developments

• Advancing and growing with technology, adding new product lines, and changing lifestyles gradually There are constantly new competitors joining the market since it is so competitive, especially from China, which is a major hub for global production.
• Even with the sporadic shutdown of physical stores globally due to the pandemic (COVID-19), which slowed growth in various industries, the consumer electronics market remained robust. People are spending more time at home, which increases the demand for smart devices that provide greater comfort and security. The MEMs are major components of electric devices that are anticipated to increase sales of the MEMs.
• With The rise of IoT devices the sensors have become mainstays owing to the need for an efficient network to transfer data faster among devices. As per the research-led forecast sensors used in IoT devices are anticipated to increase and reach USD 43 Billion b 2025.
• Global green technology has propelled in demand owing to consumer preference for eco-friendly products and electronics. The green tech market is expected to gain a size of USD 417.35 Billion by end of 2030. This market is considered a lucrative opportunity for MEM’s sensors manufacturers.
• While maintaining the structural integrity of the parts, liquid encapsulation of the MEMS offers little wrappage, low stress, and great thermal conductivity. In a variety of industries, including nutraceuticals, agriculture, pharmaceuticals, vehicles, consumer electronics, and many more, encapsulation prevents stiction between the components.
• Polymer and composite material-based MEMS have the potential to be a strong alternative to Si-based MEMS devices for their use in biological applications, mechanical energy harvesting, or for any other application requiring sensing. This is possible due to their unique properties such as low cost, biocompatibility, and flexibility.

What is Driving Market Growth of MEMS Sensors?

Technological Advancements and Extensive Reliance on IoT

The global micro electro mechanical systems (MEMS) sensor market is expected to witness tremendous growth owing to high technological advancement in the 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 the massive influx of advanced consumer electronics will continue to drive the MEMS sensor market growth over the forecast period. 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 experiencing credible growth.

Demand from End User Industries Bolstering Sales of MEMS Sensors

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.

Prioritizing Product Portfolio Expansion Helping MEMS Sensors to Gain Revenue?

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.

Country-wise Analysis

How do Growth Prospects Appear for MEMS Sensors in North America?

Regulatory Policies Creating Lucrative Opportunities for MEMS Sensors in North America?

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, the sales of MEMS sensors have escalated in U.S. and Canada.

Moreover, regional trend and regulatory policies play an important role in development of the MEMS sensor and semiconductor markets. Thus, North America is expected to register a CAGR of more than 18% in the sales indicator period.

How Opportunistic is the Market Likely to be in the Asia-Pacific

Eco-Friendly Electronic Equipment Accelerating Demand for MEMS Sensors in Asia Pacific?

Asia Pacific 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. Thus, Asia Pacific is expected to garner a market revenue of 8.1 Mn in the assessment period 2022-2032.

Category-Wise Insights

Which is the Dominant MEMS Sensor Type by Fabrication?

Lower Costs and Better Functionality Key Reason for Increasing Demand of Polymer Fabricated MEMS Sensors

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. Thus, polymer fabricated MEMS sensors are expected to account for nearly 35% market share for MEMS sensors.

By Type, Which is the Most Preferred MEMS Sensor?

Optical MEMS Sensor to Gain Significant Traction due to 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, at an 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 2032.

Competitive Landscape

• In December 2021, STMicroelectronics N.V introduces a smart sensor evaluation kit that accelerates design with IO-Link Transceiver and STM32 MCU. The device eases workload and is designed for easy integration with additional X-cube software to expand the sensors functionality.
• 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.

Key Segments Covered

• Type

  • Mechanical MEMS Sensors
  • Optical MEMS Sensors
  • Thermal MEMS Sensors
  • Chemical & Biological MEMS Sensors
  • Other MEMS Sensors

• Fabrication Material

  • Silicon MEMS Sensors
  • Polymer MEMS Sensors
  • Ceramic MEMS Sensors
  • Metal MEMS Sensors

• Application

  • Automotive MEMS Sensors
  • Consumer MEMS Sensors
  • Medical MEMS Sensors
  • Industrial MEMS Sensors
  • Other MEMS Sensors