Micro-Electro-Mechanical System (MEMS) Market Size & Forecast
The Micro-Electro-Mechanical System (MEMS) Market is expected to reach $31.4 billion by 2031, at a CAGR of 8.8% from 2024 to 2031. The growth of the micro-electro-mechanical system (MEMS) market is driven by the proliferation of IoT devices and the increasing demand for miniaturized electronic devices. Furthermore, the rise in the adoption of smart technologies across several industries and advancements in sensor fusion technology are expected to generate growth opportunities for the stakeholders in this market.
Micro-Electro-Mechanical System (MEMS) Market Growth Drivers
Increasing Demand for Miniaturization Electronic Devices is Driving the Demand for MEMS Market
In the electronics industry, miniaturization has become a trend that is driving innovation and advancements in technology. Miniaturization refers to the process of designing and manufacturing smaller and more compact electronic devices. With the demand for smaller and more portable devices increasing, MEMS are playing a crucial role in the miniaturization of electronic devices. Several factors, including the need for portable devices, the demand for more functionality in smaller packages, and the desire for energy-efficient solutions, drive the miniaturization of electronics. MEMS devices are preferable choices of manufacturers for miniaturization due to their small dimensions, which is boosting the growth of MEMS components.
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Proliferation of IoT Devices is Driving the Demand for MEMS Market
The growth in adoption of IoT devices is increasing due to increased focus on automation. IoT devices provide benefits of increased efficiency and automation to commercial as well as industrial end-users. IoT devices are used to automate various tasks, gather data, and optimize processes which is also contributing to their growth. Maturing underlying technologies is expected to make IoT technologies easier to implement. As MEMS become smaller, require less power, and are less expensive to manufacture, MEMS are expected to play an important part in the development of the internet-of-things (IoT) and home automation due to their smaller size, require less power, and are less expensive to manufacture.
MEMS are used in compact IoT devices due to their miniaturized size. For instance, in January 2022, TDK Corporation (Japan) launched the T5828 SoundWire MEMS microphone as part of the SmartSound family of performance products for mobile, TWS, IoT, and other consumer devices. This family of high-performance microphones pushes the boundaries of microphone acoustic performance, providing advanced feature sets in small package footprints. They also require minimal power, which is crucial for battery-powered devices, which makes them a good fit for IoT devices. Hence, increasing adoption of IoT devices is expected to create demand for MEMS components to provide IoT devices with enhanced capabilities to automate and gather data to optimize processes.
Micro-Electro-Mechanical System (MEMS) Market Opportunity
Rise in Adoption of Smart Technologies across Several Industries is Expected to Generate Growth Opportunities for Market Players
The adoption of smart technologies is transforming several industries, including manufacturing, healthcare, automotive, smart cities, and logistics. It provides significant benefits in efficiency, productivity, and even entirely new possibilities. Smart factories and industrial automation rely heavily on real-time data collection and precise control mechanisms.
Smart technologies provide capabilities such as remote asset monitoring, real-time visibility, predictive maintenance, and remote patient monitoring. MEMS technology offers a wide range of miniaturized sensors and actuators that are ideal solutions for achieving these capabilities. In addition, key players are also focusing on the development of smart sensor due to the growing adoption of smart technologies across several industries. For instance, in September 2023, Infineon Technologies AG (Germany) launched a patented glass-silicon-glass MEMS XENSIV SP49 tire pressure monitoring sensor for the automotive tire pressure monitoring system (TPMS). The sensor integrates MEMS sensors and ASIC and provides smart tire features that enable advanced tire pressure monitoring systems. Such development of smart MEMS components is expected to support its adoption in smart technologies.
Hence, the rise in the adoption of smart technologies across industries for leveraging advanced capabilities to achieve operational efficiency is expected to provide opportunities for MEMS manufacturers.
Micro-Electro-Mechanical System (MEMS) Market Analysis: Key Findings
By Component: The Sensors Segment to Dominate the Micro-Electro-Mechanical System (MEMS) Market in 2024
Based on component, the global micro-electro-mechanical system (MEMS) market is segmented into sensors, actuators, and electronic circuits. In 2024, the sensor segment is expected to account for the largest share of over 59.0% of the global micro-electro-mechanical system (MEMS) market. The segment’s large market share is mainly attributed to factors such as technology advancements, the growing focus of key players on the development of MEMS components with new capabilities such as waterproof or long life, and the increased demand for sensing technology for real-time data collection and analysis.
Moreover, the sensor segment is expected to record the highest CAGR during the forecast period. This segment's growth is mainly driven by the development of emerging technologies such as the internet-of-things (IoT) and autonomous systems, the increasing need for automation and digitization in various industries such as manufacturing, automotive, healthcare, consumer electronics, and infrastructure, and businesses' growing focus on automating processes.
By End User: In 2024, the Consumer Electronics & Appliances Segment to Dominate the Micro-Electro-Mechanical System (MEMS) Market
Based on end-user, the global micro-electro-mechanical system (MEMS) market is segmented into aerospace & defense, automotive, consumer electronics & appliances, biotechnology, energy, healthcare, and other end-users. In 2024, the consumer electronics & appliances segment is expected to account for the largest share of over 45.0% of the global micro-electro-mechanical system (MEMS) market. The segment’s large share is mainly attributed to factors such as the increasing adoption of smart home technologies, advancements in component design technology and fabrication processes, and increased demand for consumer electronics devices such as laptops, smartphones, and air conditioners.
However, the healthcare segment is expected to record the highest CAGR during the forecast period. This segment's growth is mainly driven by the growing adoption of MEMS devices to facilitate telemedicine and remote medical examinations, the increasing development of medical devices, and the increasing demand for innovation in MEMS devices in the medical industry.
Geographical Analysis
Asia-Pacific Region to Dominate the Micro-Electro-Mechanical System (MEMS) Market in 2024
In 2024, Asia-Pacific is expected to account for the largest share, over 43.0%, of the global micro-electro-mechanical system (MEMS) market. This segment's large market share is attributed to factors such as growing investment across industries in digital transformation, growing adoption of automation systems by manufacturers, and growing smart city projects.
Moreover, the Asia-Pacific region is projected to register the highest CAGR of over 10% during the forecast period. This region's growth is mainly driven by rising industrialization, a growing focus on infrastructure development, growing spending on smart technologies due to growing disposable income, and increased adoption of advanced technology such as IoT and automation across industries.
Micro-Electro-Mechanical System (MEMS) Market: Key Companies
The report offers a competitive analysis based on an extensive assessment of the leading players’ product portfolios, geographic presence, and key growth strategies adopted in the last three to four years. Some of the key players operating in the micro-electro-mechanical system (MEMS) market are Analog Devices, Inc. (U.S.), MinebeaMitsumi, Inc. (Japan), STMicroelectronics N.V. (Switzerland), Mouser Electronics, Inc. (U.S.), Texas Instruments Incorporated (U.S.), Infineon Technologies AG (Germany), NXP Semiconductors N.V. (Netherlands), First Sensor AG (Germany), TDK Corporation (Japan), FLUSSO Limited (U.K.), Melexis N.V. (Belgium), Teledyne Technologies Incorporated (U.S.), Amphenol Advanced Sensors (U.S.), AAC Technologies (China) and Robert Bosch GmbH (Germany).
Micro-Electro-Mechanical System (MEMS) Industry Overview: Latest Developments from Key Industry Players
- In May 2023, STMicroelectronics N.V. (Switzerland) launched a waterproof MEMS pressure sensor with a 10-year longevity period for Industrial IoT expansion. ST’s new ILPS28QSW sensor comes in a sealed, cylindrical, surface-mountable package. It features a ceramic substrate that provides high resistance to liquid permeability and a robust potting gel, proven in automotive applications, to protect the internal circuitry.
- In November 2022, TDK Corporation (Japan) launched a monolithic stand-alone Gyroscope for non-safety Automotive applications up to 105°C. IAM-20380HT is a stand-alone gyroscope in a thin 3 x 3 x 0.75 mm (16-pin LGA) package that can operate over a wide temperature range. It delivers reliable and highly accurate measurement data for a variety of automotive non-safety applications, including, but not limited to, navigation and dead reckoning, vehicle tracking, telematics, door control, and vision systems.
Micro-Electro-Mechanical System (MEMS) Market Research Summary
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Particulars
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Details
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Number of Pages
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250
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Format
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PDF
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Forecast Period
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2024–2031
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Base Year
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2023
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CAGR (Value)
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8.8%
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Market Size (Value)
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USD 31.4 Billion by 2031
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Segments Covered
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By Component
- Sensors
- Motion sensors
- Accelerometer Sensor
- Inertial Measurement Unit (IMU)
- Gyroscope Sensor
- Magnetometer Sensor
- Biosensors
- Optical Sensors
- Environmental Sensors
- Proximity Sensors
- Microphone
- Other Sensors
- Actuators
- Electrostatic
- Thermal
- Piezoelectric
- Magnetic
- Other Actuators
- Electronic Circuits
By End-user
- Aerospace & Defense
- Navigation & Guidance
- Environmental Monitoring
- Other Applications
- Automotive
- Safety
- Engine Management & Performance
- Other Applications
- Consumer Electronics & Appliances
- Industrial Manufacturing
- Process Monitoring and Control
- Quality Control and Inspection
- Other Applications
- Biotechnology
- Energy
- Healthcare
- Other End-users
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Countries Covered
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Europe (U.K., Germany, France, Italy, Spain, Sweden, Switzerland, Netherlands, Norway, Austria, Denmark, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Australia, Malaysia, Rest of Asia-Pacific), North America (U.S., Canada), Latin America (Brazil, Mexico, Rest of Latin America), and the Middle East & Africa (Israel, UAE, Rest of Middle East & Africa)
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Key Companies
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Analog Devices, Inc. (U.S.), MinebeaMitsumi, Inc. (Japan), STMicroelectronics N.V. (Switzerland), Mouser Electronics, Inc. (U.S.), Texas Instruments Incorporated (U.S.), Infineon Technologies AG (Germany), NXP Semiconductors N.V. (Netherlands), First Sensor AG (Germany), TDK Corporation (Japan), FLUSSO Limited (U.K.), Melexis N.V. (Belgium), Teledyne Technologies Incorporated (U.S.), Amphenol Advanced Sensors (U.S.), AAC Technologies (China) and Robert Bosch GmbH (Germany)
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Key questions answered in the micro-electro-mechanical system (mems) market report:
