MEMS sensor market research at a glance
The business intelligence study for MEMS Sensors market provides a detailed summary of essential aspects involving product classification, important definitions, and other industry-specific parameters. The report also covers key factors associated with current events such as alliances, mergers and acquisitions, and new product launches.
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Additionally, the MEMS Sensors market research provides a rigid foundation for collecting a set of information that potential customers can use to improve revenue and reduce costs. The illustration of data on MEMS sensor market segmentation by type, application, and geography offers a critical perspective on what manufacturers are considering for the allotted time frame.
The global MEMS sensor market is expected to grow 3.3 times to reach the market valuation of around US $ 75 billion by the end of the assessment period (2020-2027). Consumer electronics remains the key application area for MEM sensors and accounts for the majority of the total market value. The growing demand for personalized and smart cars has opened up many opportunities for MEMS sensor market players. In addition, advancements in the telecommunications industry and the introduction of NGN along with the growing popularity of FTTH services have resulted in an increasing demand for MEMS sensors as optical sensors.
According to the Fact.MR study, MEMS sensors made of polymer are expected to be the most attractive segment, due to their high functional properties. The increasing use of polymer-made MEMS in the automotive, medical and biotechnology industries will continue to provide favorable winds for market growth.
However, the recent Covid-19 outbreak has brought significant downside risks to the global consumer electronics and automotive industries. Nationwide lockdowns further show a significant effect on production and supply chain operations, which will create a barrier to market growth.
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Key Points of the Global MEMS Sensor Market
- The global MEMS sensor market is expected to create a value opportunity of approximately US $ 52.7 billion during the forecast period.
- MEMS sensors made from polymer remain the best-selling category, accounting for over a third of the global market value.
- The demand for optical MEMS sensors is expected to grow at a higher rate, facilitated by the growing demand for IoT applications and advancements in the telecommunications industry.
- The global MEMS sensor market is expected to experience strong growth in developing countries such as India, China, and Brazil, owing to greater awareness of advanced sensors and components used in consumer electronics and devices. modern vehicles.
- Asia Pacific (APAC) is estimated to be the most lucrative market for MEMS sensors, currently valued at US $ 8.1 million.
- MEMS sensors used in automotive and consumer electronics will continue to dominate the market.
- In the North American market, MEMS sensor application in automotive and consumer electronics accounts for more than half of market value and is expected to grow at a solid rate of 18% over the forecast period.
“Advances in telecommunications network infrastructure and the rise of connected and autonomous vehicles are expected to drive demand for MEMS sensors with a polymer as a key formulation material,” said the Fact.MR.
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Key players to focus on product innovation and regional expansion
Major players in the MEMS sensor market include STMicroelectronics NV, Robert Bosch Gmbh., NXP Semiconductors NV, Honeywell International Inc., Texas Instruments, Micralyne Inc., Silex Microsystem AB, SilTerra Malaysia Sdn. Bhd., And Asia Pacific Microsystems. Major players are adopting aggressive growth strategies to establish their presence in regional and global markets. These players are also focusing on product innovation and capacity extension to meet growing demand compatible with the use of associated applications.
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