Micro-Electro-Mechanical System (MEMS) Market by Sensor Type (Inertial, Pressure, Microphone, Micxrospeaker, Environmental Sensor, Optical Sensor), Actuator Type(Optical, Inkjet Head, Microfluidics and RF), Vertical and Region - Global Forecast to 2028

The Micro-Electro-Mechanical System Market is projected to grow from USD 14.8 billion in 2022 to USD 22.9 billion by 2028, registering a CAGR of 7.6% during the forecast period.

Key factors driving the Micro-Electro-Mechanical System Market include the growing use of radio-frequency microelectromechanical system (MEMS), increasing demand for IoT devices, and rising demand for consumer electronics. Players in the MEMS market adopted growth strategies such as product launches, partnerships, collaborations, and strategic alliances to cater to the growing demand for MEMS systems and expand their global footprint to all the major regions.
The objective of the report is to define, describe, and forecast the MEMS market based on sensor type, actuator type, vertical, and region.

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Key Market Players
Major vendors in the MEMS market include STMicroelectronics (Switzerland), Robert Bosch (Germany), Analog Devices (US), NXP Semiconductors (Netherlands), Texas Instruments (US), Panasonic Corp. (Japan), TE Connectivity (Switzerland), Broadcom (US), Honeywell International (US), and Knowles Corp. LLC (US), among others.

The dominant position of China in the Asia Pacific MEMS market can be attributed to the deployment of MEMS technology in consumer electronics, automotive, and other verticals. The Asia Pacific market is further segmented into China, Japan, South Korea, India, and the Rest of Asia Pacific. Asia Pacific is a major market for consumer electronics, automobiles, and industrial. This region has become a global focal point for large investments and business expansion opportunities.

In China, there is a huge demand for smartphones, wearable devices, and other connecting devices. Moreover, the Chinese market is expected to grow exponentially due to the availability of leading automotive manufacturing facilities. The developing economy and the growing implementation of MEMS sensors in most verticals are the driving factors for the growth of the micro-electro-mechanical system market in China.

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Recent Developments
• In October 2022, Bosch Sensortec has launched the BMI323, an affordable Inertial Measurement Unit (IMU) with excellent performance and integrated features enabling a shorter development time. The BMI323's combination of simplicity with an excellent price-performance ratio will open new applications for IMUs. Like its predecessor, BMI160, the new BMI323 is a general-purpose, low-power IMU that combines precise acceleration and angular rate (gyroscopic) measurement with intelligent integrated features that are triggered by motion.
• In February 2022, STMicroelectronics has introduced its third generation of MEMS sensors. The new sensors enable the next leap in performance and features for consumer mobiles and smart industries, healthcare, and retail. To be included in selected variants, extra features include ST's machine-learning core (MLC) and electrostatic sensing.
• In May 2022, STMicroelectronics has teamed with AWS and Microsoft to expand its reach into the IoT realm. On the AWS front, STMicroelectronics now offers a reference implementation that makes for an easier and more secure connection of IoT devices to the AWS cloud. Meanwhile, in a joint effort with Microsoft, STMicroelectronics has endeavored to strengthen the security of emerging IoT applications.
• In May 2022, Texas Instruments broke down on the first of four potential 300-mm semiconductor manufacturing facilities (Fabs) in Sherman, Texas. Its potential USD 30 billion investment to expand its manufacturing capacity over the long term is the largest private sector economic investment in Texas history.

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Frequently Asked Questions (FAQ):
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