Mems Sensor Market - Growth, Trends, Covid-19 Impact, And Forecasts (2021 - 2026)

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The MEMS sensor market was valued at USD 8010.2 million in 2020, and it is expected to reach a market value of USD 11570.6 million by 2026 to register a CAGR of 6.44% over the forecast period (2021 - 2026). Evolution in the MEMS technology has lead to a reduction in the size of the sensor, making it efficient, cost-effective and compatible at the same time.

- Growing demand for MEMS sensors across industry verticals such as Consumer Electronics, Healthcare, Industrial, Automotive among others is driving the market's growth positively.
- MEMS sensors are playing a significant role in automotive infotainment and safety applications. Growing safety concern and regularity requirement are anticipated to increase the adoption of MEMS sensor in the automotive sector.
- The MEMS sensor market is expected to witness popularity as the consumer electronics industry is shifting its focus from traditional sensors to MEMS technology. High adoption of Smartphones is expected to boost the market's growth over the forecast period. Additionally, technological enhancements in the product such as size reduction, high accuracy, ...
... and the new application are expected to augment the market over the forecast period.

Key Market Trends

Automotive Sector is Expected to hold a Significant Share

- The increasing demand for safety & security in the automobiles is one of the major factors, which is impacting the market's growth positively. According to the World Health Organization (WHO), globally, more than 1.55 million people are killed in road accidents every year, and about 50 million people get injured. The MEMS sensors play a critical role in improving the safety features of the vehicles and act as the catalyst for the growth of the market. Detection of the possibility of a car accident for controlling the airbags makes up the most extensive use of MEMS sensors in the automotive industry.
- Most automotive Electronic Stability Control (ESC) systems now use MEMS sensors, which over the last two decade have been able to drastically improve the ESC system in terms of size, cost, and reliability, with the MEMS replacing the conventional high- precision mechanical sensors.
- The emergence of electric vehicles in the industry has impacted the demand and distribution of pressure and magnetic sensors, which is expected to be a demand driver in the long term. Furthermore, With the advent of autonomous vehicles, vendors in the market are now including high-performance Inertial Measurement Units (IMUs) aiming at opportunity emerging owing to self-driving vehicles.

Asia-Pacific is Expected to Hold a Major Share

- Asia-Pacific is expected to be the largest market for MEMS sensors owing to the presence of economies such as India and China along with increasing growth of the consumer electronics and automobile segments.
- Significant demand for smartphones and other consumer electronics devices from countries, such as India, China, the Republic of Korea, and Singapore are encouraging many vendors to set up production establishments in the region. The abundant availability of raw materials and the low establishment and labour costs have also helped companies launch their production centers in the region.
- Furthermore, China, Japan, and South Korea's ageing population are expected to increase the need for healthcare services over the forecast period, thus providing scope for devices, such as ventilators, inhalers, dialysis, and blood pressure monitoring devices, which constitute MEMS pressure sensors. The growing concept of connected cars, electric vehicles and China's regulations regarding automotive safety are anticipated to drive the adoption of MEMS sensors, thereby impacting the market's growth positively over the forecast period.

Competitive Landscape

The MEMS sensors market is highly competitive and consists of numerous major players. In terms of market share, few major players currently dominate the market. These major players with the prominent share in the market are focusing on expanding their customer base across international countries. Additionally, these companies are continuously innovating their products to increase their market share and increase their profitability.

- Jan 2019 - TDK Corporation announced the availability of the new line of automotive high-accuracy devices from InvenSense, a TDK group company. The company has extended its automotive motion sensor solutions improving navigation through tunnels, parking garages, and high-temperature environments.
- Jul 2018 - STMicroelectronics N.V. introduced the automotive-grade ASM330LHH six-axis inertial sensor for super-high-resolution motion tracking in advanced vehicle navigation and telematics applications.

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