The Business Research Company’s report on the Microelectromechanical Systems Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the microelectromechanical systems market in recent years?
The increasing need for device miniaturization in various electronic devices is expected to propel the growth of the microelectromechanical systems market. Miniaturization in electronic devices includes fitting more transistor nodes on a smaller integrated circuit (IC). The usage of miniature devices is rising due to a decline in average selling prices (ASPs), low cost, less space consumption, and high accuracy. Wearable technology has increased the demand for miniaturized components. These devices can be soldered directly on the circuit boards with decreased cost of technology. For instance, in October 2023, according to the report published by the SQMagazine, a Singapore-based magazine, smartwatch shipments experienced a 24% year-over-year increase in Q2 2022. Additionally, the average selling price of smartwatches rose to $309, reflecting a 6% increase compared to the previous year. Therefore, the need for device miniaturization is driving the growth of the microelectromechanical systems market.
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What is the projected market size of the microelectromechanical systems industry, and how is it expected to grow?
The microelectromechanical systems market size has grown rapidly in recent years. It will grow from $20.07 billion in 2024 to $22.69 billion in 2025 at a compound annual growth rate (CAGR) of 13.0%. The growth in the historic period can be attributed to miniaturization demand, consumer electronics growth, automotive safety, healthcare diagnostics, environmental monitoring.
The microelectromechanical systems market size is expected to see rapid growth in the next few years. It will grow to $35.98 billion in 2029 at a compound annual growth rate (CAGR) of 12.2%. The growth in the forecast period can be attributed to autonomous vehicles, precision agriculture, aerospace and defense, biomedical implants, energy harvesting. Major trends in the forecast period include advancements in nanotechnology, 5g and beyond, smart cities, edge computing, healthcare wearables.
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Who are the key players driving competition in the microelectromechanical systems market?
Major companies operating in the microelectromechanical systems market include STMicroelectronics Pvt. Ltd., Hewlett Packard Enterprise Ltd., Texas Instruments Incorporated, Bosch Limited, Robert Bosch GmbH, Analog Devices Inc., NXP Semiconductors N.V., Panasonic Corp., Tyco Electronics Ltd., Broadcom Inc., Honeywell International Inc., Knowles Corp. LLC, Infineon Technologies AG, GoerTek Inc., TDK Corporation, Qorvo Inc., Murata Manufacturing Co. Ltd., Sensirion AG, InvenSense Inc., AAC Technologies Holdings Inc., Silicon Laboratories Inc., Omron Corporation, MEMSIC Inc., Knowles Corporation, Vesper Technologies Inc., Tronics Microsystems SA, X-FAB Silicon Foundries SE, SiTime Corporation, MEMSensing Microsystems SA, mCube Inc.
What key trends are expected to drive the microcarrier market during the forecast period?
Innovations are gaining popularity in the microelectromechanical systems market. Major players in the market are focusing on bringing innovative products to obtain an edge in the market against their competitors. For instance, in December 2023, Panasonic Life Solutions India Pvt. Ltd, an India-based company, introduced an innovative 6-in-1, 6DoF (Degrees of Freedom) Inertial Sensor. This advanced sensor integrates multiple functionalities into a single unit, enhancing its application in various sectors such as automotive and industrial automation by providing precise motion tracking and orientation data for robotics, smart devices, and vehicle stability systems. It not only improves system performance but also facilitates the development of smarter, more efficient technologies across diverse.
Which key geographies are driving the growth of the microelectromechanical systems market?
Asia-Pacific was the largest region in the microelectromechanical systems market in 2024. The regions covered in the microelectromechanical systems market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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What are the key segments driving growth in the microelectromechanical systems market?
The microelectromechanical systems market covered in this report is segmented –
1) By Type: Sensors, Actuators
2) By Application: Consumer Electronics, Automotive, Industrial, Aerospace And Defense, Healthcare, Telecommunication, Other Applications
Subsegments:
1) By Sensors: Accelerometers, Gyroscopes, Pressure Sensors, Microphones, Optical Sensors, Chemical Sensors
2) By Actuators: Micro Motors, Piezoelectric Actuators, Thermal Actuators, Shape Memory Alloy (SMA) Actuators
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What defines the structure and scope of the microelectromechanical systems market?
Microelectromechanical systems refer to the technology ingthat are used to create small integrated devices or systems that combine electrical and mechanical components. They are made using integrated circuit (IC) batch processing techniques and can be as small as a few micrometers to as large as millimeters.
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