Micro-Electromechanical Systems (MEMS) Technology Market to Witness Widespread Expansion by 2024

High growth is expected in the global micro-electromechanical systems (MEMS) technology marketon account of increased spending in the healthcare sectors by developing nations such as China and India. The medical infrastructure and pharmaceutical sectors are witnessing improvements due to increased support by governments across nations, and this has helped the market to grow. MEMS are used in devices measuring blood pressure, respiratory disorder diagnostic equipment, and also laparoscopic devices. The MEMS systems help doctors ro accurately measure, monitor, and control conditions of patients. The penetration of Internet of Things (IoT), smart wearable gadgets, and big data are further pushing the demand for optical MEMS. In addition to the medical sector, the commoditization of micro-electromechanical systems technology is expected to ensure the use of this technology in other sectors such as industrial, consumer electronics, telecommunication, automotive, and semiconductor. This research report is a comprehensive analysis of the drivers and restraints affecting the growth of the industry. Trends in the industry are analyzed and future opportunities are discussed. Key segments within this industry are also studied in detail.

The global micro-electromechanical systems technology market is highly fragmented and large as well as small players are present. Players in the market are competing in terms of pricing, innovation, performance, product features, and lower selling price, and distribution. Technological innovations and rise in product extensions are expected to strengthen the competition among players in the market. Players are striving to achieve product differentiation and unique service offerings through unique value proposition. In addition to this, players are striving hard to develop and introduce newer technologies so as to have an edge above other competitors.

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On the basis of geography, the market is expected to be led by Asia Pacific and is expected to continue to do so for the entire forecast period, on account of the presence of a large number of semiconductors manufacturing industries. The presence of consumer electronics and automotive components industries in countries such as China, Taiwan, and South Korea is another reason behind the growth of the micro-electromechanical systems technology market in Asia Pacific. In addition to this, low labor costs and low priced raw materials enables reduction in the cost of production, thus furthering the growth of the market in Asia Pacific.

By end user, the market can be segmented into consumer electronics, automotive, industrial, and medical. Of these, the consumer electronics segment is expected to be the key revenue generator in the forecast period. Micro-electromechanical systems technology is used for enabling display control, navigation, motion control, and gesture recognition in smartphones, cameras, tablets, smart wearable, and gaming consoles. With increase in demand for smart wearable devices and smartphones, the global micro-electromechanical systems technology market will also receive an impetus.

On the basis of product, the market is segmented into accelerometers, gyroscopes, microphones, optical MEMS, and pressure sensors. Of these, the inertial combos segment is expected to lead in the coming years as there is a need to integrate data from different sensors and produce accurate result.

The key players mentioned in the report, which are operating in the micro-electromechanical systems industry, are STMicroelectronics N.V., Hewlett-Packard Co., Texas Instruments Inc., and The Bosch Group. Information regarding their recent developments and growth strategies adopted are given in the report. The study also includes the business and financial overview of these companies.

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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materia