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Micro-Electro-Mechanical System (MEMS) Market Size

Report ID: GMI5439
Published Date: Feb 2023
Report Format: PDF

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Micro-Electro-Mechanical System Market Size

Micro-Electro-Mechanical System Market size was recorded at over USD 14 billion in 2022 and is expected to grow at more than 5% CAGR between 2023 and 2032 driven by emerging trends in the automotive industry.

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The burgeoning demand for smart consumer electronic devices globally is fueling the market growth. In addition, the growing adoption of the internet of things (IoT) by semiconductor companies is complementing the usage of electronics, including wearables, smartphones, laptops, cameras, cars, semiconductor devices, Internet of Things (IoT)-enabled gadgets, and so on.

Furthermore, a favorable increase in healthcare expenditure by governments, especially in Asia Pacific region is foreseen to escalate market standing. Constant improvements in the medical and pharmaceutical industries have boosted product adoption. In 2021, the total expenditure on healthcare institutions by the Japanese government increased by USD 14 billion or 4.6% compared to 2020. MEMS technology assists doctors in monitoring, analyzing, and controlling patient conditions.

Micro-Electro-Mechanical System Market Report Attributes
Report Attribute	Details
Base Year:	2022
Micro-Electro-Mechanical System Market Size in 2022:	USD14 billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	5%
2032 Value Projection:	USD 25 billion
Historical Data for:	2018 to 2022
No. of Pages:	220
Tables, Charts & Figures:	228
Segments covered:	Type, Industry Vertical
Growth Drivers:	Increasing use of radio frequency MEMS system Rising demand for miniaturization of devices Increasing demand for smart consumer electronics Emerging trends in the automotive industry and technology Mounting healthcare spending by government in Asia Pacific Proliferation of advanced packaging trends in MEMS industry
Pitfalls & Challenges:	High production and testing costs associated with MEMS

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Authors: Suraj Gujar

Frequently Asked Questions (FAQ) :

Global micro-electro-mechanical system (MEMS) market was valued at over USD 14 billion in 2022 and is set to progress at more than 5% CAGR between 2023 and 2032 owing to the burgeoning demand for smart consumer electronic devices globally and emerging trends in the automotive sector.

The sensors MEMS segment is anticipated to reach more than USD 15 billion by the end of the forecast period due to soaring use in handling and controlling machinery, digital compass, GPS tracking, managing grippers, robotics, and so on.

The consumer electronics segment captured nearly 40% share of the MEMS industry in 2022 as a result of recent technological breakthroughs, the surging deployment of the Internet of Things (IoT) & AI, and the soaring need for small-sized consumer gadgets.

The Asia Pacific MEMS market accounted for over 40% of the overall industry revenue in 2022 on account of supportive R&D investments to create novel products in keeping with the changing demands of various industries in the region.