Microelectromechanical Systems (MEMS) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Global Microelectromechanical Systems (MEMS) Market: Overview
The technology of microelectromechanical Systems (MEMS) is used to create miniatures integrated devices or systems that combine mechanical and electro-mechanical properties. The process technology has gathered considerable steam in creating a wide variety of high-performing consumer and industrial products using microfabrication techniques. A range of inertial devices have gained traction in the global MEMS market. Application of accelerometers and rate gyroscopes reiterates the commercial success of the MEMS technology. The capabilities of MEMS technology in range of emerging applications are fueled by leveraging the strength of micromachined structures, actuators, and sensors.
The global report on the global MEMS market offers in-depth assessments of current avenues and emerging application frontiers. The analyses help stakeholders, new entrants, and fast-emerging players to gain insights into the expected trajectory of the global MEMS market.
Global Microelectromechanical Systems (MEMS) Market: Notable Developments
The Precise Robust Inertial Guidance for Munitions (PRIGM), a program for miniature inertial sensors technologies, has developed a navigation-grade inertial measurement unit (NGIMU) that is based on MEMS platforms. Growing focus of numerous players advanced inertial micro sensor (AIMS) technologies will create new frontiers for the global MEMS market in the defense applications.
Some of the most prominent competitors operating in the competitive landscape of global microelectromechanical systems (MEMS) market include –
Global Microelectromechanical Systems (MEMS) Market: Key Evolution Dynamics
Electronics and automotive industries have been by far two of the most attractive markets for MEMS. The automobile industry in recent years has made substantial strides driven by the demand for safer automotive. This has propelled the demand for various safety features based on MEMS, such as air bags and tire pressure monitoring systems, thus boosting the MEMS market. Further, growing incorporation of advanced sensor based on MEMS in wearables and the growing popularity of such wearables are factors boosting the global MEMS market. The demand for high-performance fitness trackers is a case in point.
The global MEMS market has also been receiving substantial leg up from its rising relevance in sensors used in internet of things (IoT). Growing popularity of actuators in connected devices has spurred the uptake of MEMS. Rapid technological strides made in IoT is influencing the growth dynamics of the global MEMS market in developing and developed regions. The demand for MEMS also gained robust impetus from growing integration of the system into a spectrum of consumer electronics.
Global Microelectromechanical Systems (MEMS) Market: Regional Assessment
Regionally, developed and developing countries in North America and Asia Pacific are poised to play a greater role in the global MEMS market in the near future. Emerging and developed economies in Asia Pacific have held vast potential in the global MEMS market. This may attributed to the rapid strides being made by microelectronics fabrication in various end-use industries. Moreover, growing popularity of IoT based connected technologies in industrial and consumer markets will fetch profuse revenues in these regional markets for MEMS. Meanwhile, considerable development initiatives relating to autonomous vehicles in various parts of North America will keep the global MEMS market increasingly lucrative.
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