Micro-Electro-Mechanical System Market to surpass $25 Bn by 2032

Micro-Electro-Mechanical System Market valuation is estimated to exceed USD 25 billion by 2032,  according to a recent research report announced by Global Market Insights Inc.
 

The report identifies emerging electrification and advancement in the automotive industry as the key driver of the MEMS market. The demand for several electrical components, such as MEMS, photonics, optical devices, and others, is gaining positive attention due to intensifying popularity of electric vehicles. This has encouraged automotive companies to focus on developing lightweight and efficient parts for new electric vehicles. In October 2022, STMicroelectronics, a semiconductor company, introduced a new vibration sensor for road noise-cancellation (RNC) via active noise-control techniques for electric and other cars.
 

Mounting demand for wearable devices to increase the use of actuators

With respect to type, the micro-electro-mechanical system market from the actuators segment is slated to progress at over 5% CAGR between 2023 and 2032 on account of the surging need for smaller, more precise, and efficient devices that translate electrical impulses into mechanical motions. Additionally, the segment growth is attributed to the burgeoning demand for smart gadgets, wearable technology, and Internet of Things (IoT) devices.
 

Wide usage in 3D imaging systems to push the demand for optical devices

The report further classifies actuators into RF actuators and optical devices. The optical devices segment accounted for over USD 2 billion in revenue in 2022 due to its extensive use in numerous applications, such as image stabilization, focusing optical zoom, and others. A research study on MEMS-based silicon photonics LiDAR utilized MEMS-actuated optical switches to control the grating antenna digitally in this large-scale imaging LiDAR. It concluded that the angular resolution of the current system can be improved by optimizing optical design and fabrication technology.
 

Browse key industry insights spread across 220 pages with 198 market data tables and 30 figures & charts from the report  “Micro-Electro-Mechanical System (MEMS) Market Size, By Type (Sensors {Pressure Sensor, Accelerometer, Gyroscope, Temperature Sensor, Humidity Sensor, Gas Sensor}, Actuators {RF Actuators, Optical Devices}, Audio Devices {Microphones, Speakers}, Switches), By Industry Vertical (Automotive, Consumer Electronics, Medical, Aerospace & Defense, Telecom, Industrial), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2023 – 2032”., in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/micro-electro-mechanical-system-market
 

Growing inclination towards automation to shape the industrial segment outlook

Micro-electro-mechanical system market size from the industrial segment is slated to reach more than USD 3 billion by 2032. The growing popularity of industrial automation and Industry 4.0 is driving product adoption in the industrial sector. In December 2022, Menlo Micro, an electronic component manufacturer, introduced a new micromechanical power switch, the MM9200 Ideal Switch that can handle 10A in a miniature surface package. The switch’s design and process technology enable effective power distribution, load switching, management, and control with a virtually loss-less solution for industrial automation and other applications.
 

Favorable government spending on chip production to accelerate North America industry expansion

 North America micro-electro-mechanical system market was valued at over USD 2.5 billion in 2022 due to the region’s booming economy, rising investment, and continuous efforts for the development of technology. In August 2022, the US government inked the Chips and Science Act to boost the semiconductor manufacturing industry with an investment of USD 280 billion for the next decade. The Act allocated USD 200 billion for scientific R&D purposes, over USD 52 billion for semiconductor manufacturing, and USD 24 billion as tax incentives for chip production.
 

Production expansion efforts for automotive sensors to remain a key growth strategy

Micro-electro-mechanical system market is speculated to witness a series of production capacity expansion efforts and customer base development tactics undertaken by industry players to remain ahead in the competitive landscape. Top companies in the MEMS industry are Murata Manufacturing Co., Ltd., Bosch Sensortec GmbH, TDK Corporation, TE Connectivity, STMicroelectronics, and Honeywell International Inc., among others.