Microelectromechanical Systems (MEMS) Market with (Covid-19) Impact Analysis (By Product Type: Sensors, Actuators; By Industry Vertical: Consumer Electronics, Automotive, Industrial, Aerospace & Defence, Healthcare, Telecommunication; By Geography: North America, Europe, Asia-Pacific, RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2015-2027
Global Microelectromechanical Systems (MEMS) Market is forecasted to reach $35 billion by 2024; growing at a CAGR of 11.4% between 2016 and 2024. MEMS is the technology of microscopic device that has both electrical and mechanical components. The dimensions can range from 20 micrometers to a millimeter. MEMS technology is able to develop new products such as less expensive, multi-axis inertial motion sensors. These sensors are useful for smartphone based navigation and Digital Micromirror Devices (DMD), which are used for efficient, high speed and reliable spatial light modulation in industry verticals such as telecom and medical, among others. MEMS are also used in micro-mirror arrays for high definition project systems, sensor-driven heating and cooling systems, and micronozzles to control the flow of ink in inkject printers. Growth in automotive vertical and consumer?s preference towards improved features in their vehicle are the major drivers of the MEMS market. Moreover, technological advancements which have resulted into the miniaturization devices and increasing adoption of wearable devices are also expected to drive the market. However, less technical awareness among end users and lack of standardization & accuracy may hinder the growth of the market. The MEMS market has been bifurcated into product type, industry vertical and geography. Product type is further segmented into sensors (accelerometer, pressure sensor, gyroscope, microphone, inertial combos, magnetometer , environment and optical sensor), actuators (inkject systems, optical MEMS such as projection system, autofocus, micromirror and micro displays, oscillators & resonators, micro fluidic & bio-chip, RF MEMS and others).Industry vertical can further be segmented into consumer electronics, automotive, industrial, aerospace and defense, healthcare and telecommunication. Geographically, the MEMS market is categorized into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S., Mexico and Canada are covered under North America wherein Europe covers France, Germany, United Kingdom, Spain and others. Asia-Pacific covers China, India, Japan, South Korea and others. RoW covers South America, Middle East and Africa. The key market players in MEMS market include STMicroelectronics (Switzerland), Robert Bosch GmbH (Germany), Hewlett-Packard Company (U.S.), Texas Instruments Inc. (U.S.), Knowles Electronics (U.S.), Denso Corporation (Japan), Canon Inc. (Japan), Avago Technologies (Singapore), InvenSense, Inc. (U.S.), Panasonic Corporation (Japan), Analog Devices, Inc. (U.S.) and Sensata Technologies, among others. The key takeaways from the report ? The report will provide detailed analysis of Microelectromechanical Systems market with respect to major segments such as industry vertical and product type ? The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024 ? Comprehensive analysis of market dynamics including factors and opportunities is included in the report ? An exhaustive regional analysis of Microelectromechanical Systems market will be provided in the report ? Profile of key players of the Microelectromechanical Systems market, which include key financials, product & services, new developments and business strategies Scope of Microelectromechanical Systems (MEMS) Market Product Type Segments ? Sensors o Accelerometer o Gyroscope o Pressure sensor o Inertial combos o Microphone o Magnetometer o Others (Environment and Optical Sensor) o Actuators ? Inkjet systems ? Optical MEMS (Projection System, Autofocus, Micromirror, and Micro Displays) ? Oscillators and Resonators ? micro fluidic and bio-chip ? RF MEMS ? Others (PIR and Thermopiles, Microbolometers, and Digital compass) Industry Vertical Segments ? Consumer Electronic ? Automotive ? Industrial ? Aerospace and Defence ? Healthcare ? Telecommunication Geographical Segments ? North America o US o Canada o Mexico ? Europe o Germany o France o United Kingdom o Spain o Others ? Asia-Pacific o China o India o Japan o South Korea o Others ? RoW o South America o Middle East o Africa "