In 2021, the MEMS market was valued at US$ 14.32 billion. During the forecast period, the MEMS market is expected to grow at a CAGR of 18.01 percent, collecting a market value of US$ 75 billion. The MEMS sensor market is expected to grow at a steady pace, reaching a value of more than US$ 50 billion by 2020.
Because of significant advancements in electrical and electronic systems, the integrated circuit (IC) industry has provided a huge boost to the growth of the MEMS sensor market over the last decade. Some of the important drivers that are positively impacting the MEMS sensor market are increasing adoption of smart connected devices such as connected autos, smart wearable devices, smart homes, and significant growth in the automotive industry.
Key Segments Covered
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Type
- Mechanical MEMS Sensors
- Optical MEMS Sensors
- Thermal MEMS Sensors
- Chemical & Biological MEMS Sensors
- Other MEMS Sensors
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Fabrication Material
- Silicon MEMS Sensors
- Polymer MEMS Sensors
- Ceramic MEMS Sensors
- Metal MEMS Sensors
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Application
- Automotive MEMS Sensors
- Consumer MEMS Sensors
- Medical MEMS Sensors
- Industrial MEMS Sensors
- Other MEMS Sensors
MEMS Sensor Market Study Key Takeaways
During the projection period, the medical & biotechnology segment is expected to increase at a high pace of over 6%. The widespread use of MEMS sensors in clinical monitoring, imaging, and other diagnostic applications is helping to propel this market forward.
In 2018, Asia Pacific (APAC) had the highest share of the MEMS market (over 35%), and it is predicted to grow at an astonishing CAGR of over 11% over the forecast period. APAC, as a hub for consumer electronics, is attracting significant investment, allowing the MEMS sensor industry to grow.
In 2018, North America accounted for the second-largest proportion of the MEMS sensor market (almost 20%).
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