May 21, 2024
Microelectromechanical Systems (MEMS) Market

The Global MEMS Market Growth is Driving Advancement in Miniaturization

Microelectromechanical systems (MEMS) are micrometer-scale devices that integrate electrical and mechanical components on a silicon chip. MEMS products such as accelerometers, gyroscopes, pressure and temperature sensors have enabled a wide range of applications like consumer electronics, automotive, industrial, and medical systems. These have the advantage of low power consumption, high reliability, and low manufacturing costs owing to the use of microfabrication technologies originally developed for the semiconductor industry.

The global MEMS market size is estimated to be valued at US$ 32194.51 million in 2024 and is expected to exhibit a CAGR of 5.1% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

MEMS sensors enable advanced capabilities in consumer electronics such as motion sensing in smartphones for gesture recognition, step counting in wearables, pressure sensing touchscreens, and gyroscopes and accelerometers that enable VR and AR applications. The design possibilities with MEMS technology are endless and driving innovation across multiple industries. The miniaturization achieved with MEMS allows the integration of many sensors in small devices or incorporation into other products without compromising size or functionality.

Market key trends:

One of the key trends driving the MEMS market is the widespread adoption of inertial MEMS sensors in automotive applications like advanced driver-assistance systems (ADAS), navigation, airbags, active suspension, telematics, and engine management. MEMS sensors help improve functional safety and comply with regulatory frameworks. This is fueling extensive research and investments by automotive OEMs in MEMS technologies for autonomous vehicles. The ability of MEMS sensors to withstand harsh environmental conditions also enables their usage in industrial IoT solutions for predictive maintenance, process monitoring, and factory automation.

Porter’s Analysis

Threat of new entrants: The MEMS market requires significant R&D investments and economies of scale to produce MEMS in large volumes at competitive costs, limiting threat of new entrants.

Bargaining power of buyers: Large OEM customers like automotive and consumer electronics have significant bargaining power over MEMS suppliers, keeping prices low.

Bargaining power of suppliers: A few large foundries dominate the MEMS wafer fabrication, giving them strong negotiation power over component design and pricing.

Threat of new substitutes: Alternatives like traditional sensors or new sensor technologies could threaten MEMS if they provide comparable functionality at lower costs.

Competitive rivalry: The MEMS market is highly competitive with large players competing globally on technology leadership, quality, and cost. Market consolidation is increasing competition.

Key Takeaways

The Global Microelectromechanical Systems (MEMS) Market Growth  is expected to witness high over the forecast period supported by wider adoption across industries. The global MEMS market size is estimated to be valued at US$ 32194.51 million in 2024 and is expected to exhibit a CAGR of 5.1% over the forecast period 2024 to 2031.

North America currently dominates the MEMS market owing to presence of major players and higher technology adoption compared to other regions. Asia Pacific is witnessing fastest growth in the MEMS market and is expected to surpass North America over the forecast period. This can be attributed to rising electronics manufacturing in countries like China and India along with growing automotive production.

Key players related content
Key players operating in the MEMS market are Bosch Rexroth AG, Tsubakimoto Europe B.V., RACO-Elektro-Maschinen GmbH, Mul-T-Lock, Exlar Europe GmbH, Linearmech S.R.L., Parker Hannifin, SEW-EURODRIVE GmbH & Co KG, SKF, BJ-Gear, Kollmorgen, Tolomatic, RK Rose+Krieger GmbH, Seimens AG, Moog, Inc., SMC Corporation, and Rockwell Automation.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it