PUNE, India, May 16, 2017 /PRNewswire/ --
According to the new market research report "Micro-Electro-Mechanical Systems (MEMS) Market by Sensor Type (Inertial, Pressure, Microphone, Environmental, and Optical), Actuator Type (Optical, Inkjet Head, Microfluidics, and RF), Vertical, and Geography - Global Forecast to 2022", published by MarketsandMarkets™, the market is expected to be valued at USD 18.88 Billion by 2022, growing at a CAGR of 9.8% between 2017 and 2022.
Browse 65 market data Tables and 47 Figures spread through 172 Pages and in-depth TOC on "Micro-Electro-Mechanical Systems (MEMS) Market"
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The major factors driving this growth of this market include the growing demand for smart consumer electronics and wearable devices and introduction of efficient, economical, and compact MEMS technology.
Consumer electronics vertical is expected to hold the largest market share during the forecast period
The MEMS market for consumer electronics is expected to hold the largest share between 2017 and 2022. This growth is attributed to the increasing usage of MEMS in electronics such as wearable devices; smartphones, tablets, and laptops; portable navigation devices; portable media players; digital cameras; and gaming consoles; as well as e-readers. Some of the most commonly used MEMS in consumer electronics include accelerometers, gyroscopes, magnetic compass, pressure sensor, temperature and humidity sensor, MEMS microphone, MEMS micro-mirror, bulk acoustic wave (BAW) filters and duplexers, and RF switches.
Inertial Sensor to hold the largest market share during the forecast period
The MEMS market for the inertial sensor is expected to hold the largest share between 2017 and 2022. This growth is attributed to the increasing usage of inertial sensors, such as accelerometer, gyroscope, magnetometer, and inertial combo sensor in automotive applications such as electronic stability control (ESC), traction control system (TCS), and anti-lock braking system (ABS). Moreover, this growth is attributed to the high adoption in consumer and wearable applications for location-based services, gaming, built-in compass app providing screen orientation and for undoing actions by shaking the device.
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APAC is expected to hold the largest market share during the forecast period
Asia Pacific (APAC) held the largest share in 2016 and is expected to dominate the MEMS market with the largest share between 2017 and 2022. APAC is a major market for consumer electronics, automotive and industrial verticals. Moreover, APAC has become a global focal point for large investments and business expansion opportunities.
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The major players in the MEMS market include STMicroelectronics N.V. (Switzerland), Robert Bosch GmbH (Germany), Analog Devices, Inc. (US), NXP Semiconductors N.V. (Netherlands), Texas Instruments Inc. (US), Panasonic Corp. (Japan), TE Connectivity Corp. (Switzerland), Sensata Technologies Holding N.V. (Netherlands), Denso Corp. (Japan), Broadcom Ltd. (US), Honeywell International Inc. (US), Knowles Corp. (US), and Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan).
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