Microelectromechanical Systems Market Size, Share & Trends Analysis growing at a CAGR of 11.1% from 2024 to 2030
The global microelectromechanical systems market size was estimated at USD 18.0 million in 2023 and is projected to reach USD 35.1 million by 2030, growing at a CAGR of 11.1% from 2024 to 2030. The increasing need for advanced consumer electronics worldwide is driving the expansion of the market.
Key Market Trends & Insights
- In terms of region, North America was the largest revenue generating market in 2023.
- In terms of segment, inertial sensor accounted for a revenue of USD 18.0 million in 2023.
- Inertial Sensor is the most lucrative sensor type segment registering the fastest growth during the forecast period.
Market Size & Forecast
- 2023 Market Size: USD 18.0 Million
- 2030 Projected Market Size: USD 35.1 Million
- CAGR (2024-2030): 11.1%
- North America: Largest market in 2023
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The growing use of the Internet of Things (IoT) by organizations in the semiconductors industry has supplemented the application of technology as it provides advantages to IoT devices, cars, and semiconductor components. Emerging trends in the automotive industry are fueling the growth of this market. These developments involve advancements in safety, connectivity, and autonomous vehicles.
The constant research & development in the technology industry has resulted in the innovation and availability of advanced versions of technologies. MEMS market is no exception to that. The industry has experienced numerous innovations leading to new product developments and enhanced applications in industries such as healthcare, automotive and others.
Over the last few years, MEMS has become part of almost every device that we use in everyday life. This includes pressure sensors, accelerometers, gear, fluid pumps, optical sensors, analyzers, and miniature robots. These systems are widely used in industries such as consumer goods, biomedical, optical displays, wireless and optical communication, aerospace, chemical, fluidics and others. The growing number of applications are expected to drive growth for this market in the approaching years.
Sensor Insights & Trends
Inertial sensor segment dominated the market and accounted for a share of 24.1% in 2023. This segment entails elements such as accelerometer, gyroscope, magnetometer, and combo sensor. There has been a significant growth in the use of MEMS inertial sensors, mainly in consumer electronics and automotive industries. For example, MEMS accelerometers have replaced airbag deployment switches in cars owing to their low energy usage, compact size, and accuracy.
The environmental sensor segment is expected to register the fastest CAGR during the forecast period. This segment serves as the foundation for a wide range of devices including smartphones, wearables, smart home setups, and industrial automation without adding noise. The demand for this segment is fueled by growing adoption due to environmental monitoring and compliance with strict air quality regulations. Growing emphasis on predictive maintenance, industrial automation and remote monitoring in industrial automation is also expected to generate greater demand for this segment in approaching years.
