The MEMS sensor market is poised for continued growth and is projected to be valued at more than US$ 50 billion. Over the last decade, the integrated circuit (IC) industry has given a huge momentum to the growth of MEMS sensor market, owing to rapid development in electrical and electronic systems. Increasing adoption of smart connected devices such as connected automobiles, smart wearable devices, smart homes and high growth in the automotive sector are some of the key drivers that are positively impacting the MEMS sensor market. Demand for these devices is on a steady rise with a corresponding decrease in average selling prices (ASPs) and increased benefits of MEMS devices, such as low cost, lower space utilization, and higher precision. In addition, MEMS sensors are small enough to be soldered directly onto circuit boards, reducing the technology’s overall expense. Such aforementioned factors are expected to prove favorable for the growth of global MEMS sensor market which is set to grow at an impressive CAGR of more than 9% during the forecast period.
The mems sensor market report highlights the following players:
- Sensata Technologies Holding N.V.
- Honeywell International Inc.
- Taiwan Semiconductor Manufacturing Co. Ltd.
- TE Connectivity Corporation
- Others
The mems sensor market report examines the operating pattern of each player – new product launches, partnerships, and acquisitions – has been examined in detail.
Product Development, the Primary Strategy among Competitors
The global MEMS sensor market is consolidated in nature with a few electronics and semiconductor multinationals such as STMicroelectronics, Robert Bosch GmbH, NXP Semiconductors N.V., and Texas Instruments Inc., acquiring top shares. In order to gain a stronger foothold in the MEMS sensors market, manufacturers are focusing on developing new product offerings. In October 2018, Bourns, Inc., a leading manufacturer and supplier of electronic components, introduced a new line of environmental sensor based on MEMS. These sensors “BPS-110” and “BPS-120” delivers extremely accurate ultra-low pressure sensing capabilities for sensitive applications.
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Find More Valuable Insights on the Market
FactMR, in its new offering, provides an unbiased analysis of the global market for MEMS Sensors, with historical data on demand (2014-2018) and expected projections for the period 2019-2029. The report discloses compelling insights into the demand for MEMS sensors on type (mechanical sensors, optical sensors, thermal sensors, chemical & biological sensors), fabrication material (silicon, polymers, ceramics, metals), application (automotive, industrial, medical & biotechnology, aerospace & defense, telecommunications, consumer electronics), across several major regions.
Important regions covered in the mems sensor market report include:
- North America (Canada, US)
- Latin America (Argentina, Mexico)
- Europe (NORDIC, UK)
- Japan and MEA
- APEJ (China, India)