Micro Electromechanical Systems Market is Forecasted to Reach US$ 19.6 Billion in 2028, Says Stratview Research

The global Micro Electromechanical Systems Market is projected to witness a growth rate of 5.2% annually from 2023 to 2028, with an anticipated size of US$ 19.6 billion in 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global Micro Electromechanical Systems Market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2028: US$ 19.6 billion
Growth (CAGR): 5.2% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 3
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Micro Electromechanical Systems Market:
The global Micro Electromechanical Systems Market is segmented based on component type, end-use industry type, and region.

Based on Component Type- We have segmented the MEMS market based on component type as microsensors and microactuators. Microsensors are likely to remain the higher demand generator of the market during the forecast period. The growing range of applications of microsensors in key industries such as healthcare, automotive, consumer electronics, and aerospace are major factors leading to its dominance in the MEMS market. Compact size and high sensitivity are the key features that have led to its increased adoption. In this study, Microsensors are further classified based on type as pressure sensors, inertial combos, accelerometers, gyroscopes, microphones, and others. Similarly, microactuators are further classified based on type as RF actuators, Inkjet heads, and others.

Based on End-Use Industry Type- The market is classified as consumer electronics, industrial, automotive, healthcare, and others. Consumer electronics held the leading position in the market in 2022 and is expected to maintain its dominance during the forecast period, driven by its wide penetration in applications such as smartphones, tablets, wearables, hearables, laptops, drones, robots, smart homes as well as in gaming and AR/VR applications. The automotive industry is expected to witness the highest growth driven by penetration in both ICEs and EVs. MEMS are used in a variety of ways in the automotive industry to improve safety and reliability. For instance, pressure sensors are used in engine control to detect gases and liquids, similarly, inertial MEMS sensors are used in safety features such as airbag control, antitheft, electronic parking brake, and navigation system.

To know the most attractive segments, click here for a free sample of the report:
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Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that Asia-Pacific is likely to remain the largest and fastest growing market for MEMS during the forecast period. This growth outlook is majorly attributed to the following-
• China is the largest market for MEMS in Asia-Pacific as well as in the world. China has a huge industrial base and dominates the global automotive and consumer electronics industry.
• Similarly, the USA is the largest market in North America and the second largest in the world. The country marks the presence of some of the key players in the global MEMS market including Broadcom Inc., Qorvo, Inc., Texas Instruments, Hewlett Packard, Analog Devices, Inc., and Honeywell International, Inc.

Micro Electromechanical Systems Market Drivers:
Some of the key drivers listed in the report are given below.
• One of the key drivers of the micro electromechanical systems market's expansion is the growing demand for smart gadgets, such as smartphones & wearables and Internet of Things (IoT) devices.
• Micro electromechanical systems sensors and actuators enable accurate sensing and control in a wide range of applications, such as automotive safety systems, industrial automation, and medical devices.
• Automotive airbag sensors, medical pressure sensors (used to monitor blood pressure), and inkjet printer heads were among the first commercial applications of micro electromechanical systems.
• Continued innovation and research and development efforts are driving the growth of the micro electromechanical systems industry, as companies seek to develop new and improved micro electromechanical systems devices for a wide range of applications.

Top 10 Companies in the Micro Electromechanical Systems Market:
Stratview Research has identified the following companies as the top market players:
• Robert Bosch GmbH
• Broadcom Inc.
• Qorvo Inc.
• STMicroelectronics NV
• Texas Instruments Incorporated
• Goermicro
• HP Development Company, L.P.

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Micro Electromechanical Systems Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

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• Micro Display Market: https://www.stratviewresearch.com/2203/Micro-Display-Market.html

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
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This release was published on openPR.