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Global MEMS Pressure Sensors Market Report, Market Size, Share, Trends, Analysis and Forecast to 2028
Stratistics MRC's Global MEMS Pressure Sensors Market value is expected to reach $5.46 billion growing at a CAGR of 16.0% during 2023-2030.The pressure sensor in a MEMS, or micro-electro-mechanical system, converts pressure during operation into an electrical signal output. Typically, it consists of a signal processing unit and pressure elements. MEMS pressure sensors have a number of advantages, including low power consumption, light weight, compact volume, accurate measurement in a space-constrained area, low cost, and little impact on the items being detected.
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Asia-Pacific is expected to account for the highest CAGR throughout the extrapolated period because the region's need for MEMS pressure sensors will rise as a result of this increase in automotive production. Additionally, the Asia-Pacific automobile industry is one of the largest in the world. Over the previous few decades, it changed from being a minor government-controlled sector to one that is dominated by huge international corporations. Major brands, including Kia, Hyundai, and Renault, are based in South Korea, where the demand for automobiles is anticipated to expand steadily.
Some of the key players in MEMS Pressure Sensors market include ABB, Amphenol Corporation, Avnet, Bosch Sensortec, Denso, General Electric, Honeywell International, Infineon Technologies, Murata Manufacturing, NXP Semiconductors, Omron Corporation, Sensata Technologies Inc, Siemens, ST electronics and TE Connectivity Ltd.
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