Microelectromechanical Systems Global Market Report 2024

Microelectromechanical systems (MEMS) refer to technology used in creating small integrated devices or systems that combine electrical and mechanical components. These systems are manufactured using integrated circuit (IC) batch processing techniques and can range in size from a few micrometers to several millimeters.

The primary types of microelectromechanical systems include sensors and actuators. Sensors are devices that monitor and respond to environmental input, which could include light, heat, motion, moisture, pressure, or various other environmental phenomena. MEMS find diverse applications in consumer electronics, automotive, industrial settings, aerospace and defense, healthcare, telecommunications, and various other fields.

The microelectromechanical systems market research report is one of a series of new reports that provides microelectromechanical systems market statistics, including microelectromechanical systems industry global market size, regional shares, competitors with an microelectromechanical systems market share, detailed microelectromechanical systems market segments, market trends and opportunities, and any further data you may need to thrive in the microelectromechanical systems industry. This microelectromechanical systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The microelectromechanical systems market size has grown rapidly in recent years. It will grow from $17.91 billion in 2023 to $20.39 billion in 2024 at a compound annual growth rate (CAGR) of 13.8%. The growth observed in the historical period can be attributed to several factors, including the increasing demand for miniaturization, growth in the consumer electronics sector, emphasis on automotive safety technologies, advancements in healthcare diagnostics utilizing MEMS, and the expanding applications of MEMS in environmental monitoring.

The microelectromechanical systems market size is expected to see rapid growth in the next few years. It will grow to $32.93 billion in 2028 at a compound annual growth rate (CAGR) of 12.7%. The anticipated growth in the forecast period can be attributed to various factors, including the increasing adoption of MEMS technology in autonomous vehicles, precision agriculture, aerospace and defense applications, biomedical implants, and energy harvesting systems. Key trends expected in the forecast period encompass advancements in nanotechnology, the rollout of 5G and beyond, the development of smart cities, the integration of edge computing, and the growing use of healthcare wearables leveraging MEMS technology.

The growth of the microelectromechanical systems (MEMS) market is anticipated to be driven by the increasing demand for device miniaturization in various electronic devices. Device miniaturization involves incorporating more transistor nodes on a smaller integrated circuit (IC). The surge in the use of miniature devices is attributed to declining average selling prices (ASPs), cost-effectiveness, space efficiency, and high precision. The demand for miniaturized components has particularly risen in wearable technology, where these devices can be directly soldered onto circuit boards, reducing technology costs. For example, in December 2021, Deloitte Touche Tohmatsu Limited reported a count of 320 million consumer health and wellness wearable devices in 2022, expected to rise to nearly 440 million by 2024, emphasizing the driving force of device miniaturization in the MEMS market.

The growing need for miniaturization is further underscored by the rising demand in consumer electronics, where MEMS are integral components. Consumer electronics encompass devices designed for daily use, such as smartphones, tablets, and gaming devices. MEMS contribute to features like screen rotation, gaming control, and gesture recognition in these devices. For instance, LG, a South Korea-based consumer electronics company, reported its highest annual revenue in 2022, a 12.9% increase from 2021, reflecting the robust demand for consumer electronics. This increasing consumer electronics demand is a key factor propelling the growth of the microelectromechanical systems (MEMS) market.

Innovations play a pivotal role in shaping the microelectromechanical systems (MEMS) market, with major players consistently focusing on introducing cutting-edge products to gain a competitive edge. In 2021, Infineon Technologies AG introduced the XENSIV™ IM67D130A, an innovative device that combines automotive expertise with technical leadership in high-end MEMS microphones. This product addresses the demand for high-performance, low-noise MEMS microphones in automotive applications, marking a significant advancement in the MEMS market.

Major companies in the microelectromechanical systems (MEMS) market are also leveraging technology innovations, such as microelectromechanical systems (MEMS) pressure sensors. STMicroelectronics N.V., a Switzerland-based semiconductor manufacturing company, launched MEMS pressure sensors designed for applications like gas and water metering, weather monitoring, air conditioning, and home appliances. These sensors are waterproof and represent a breakthrough by integrating small mechanical and electronic components on a silicon chip, ensuring environmental robustness and enabling digital transformation in challenging environments.

In May 2021, Qorvo, a US-based semiconductor company specializing in radio frequency systems, acquired NextInput, a leading company in MEMS force-sensing solutions, to enhance its technology portfolio. This acquisition positions Qorvo to accelerate the deployment of force-sensing solutions utilizing MEMS-based sensors in various applications, including consumer electronics, wearables, IoT, automotive, industrial, and medical sectors.

Major companies operating in the microelectromechanical systems market include STMicroelectronics Pvt. Ltd., Hewlett Packard Enterprise Ltd., Texas Instruments Incorporated, Bosch Limited, Robert Bosch GmbH, Analog Devices Inc., NXP Semiconductors N.V., Panasonic Corp., Tyco Electronics Ltd., Broadcom Inc., Honeywell International Inc., Knowles Corp. LLC, Infineon Technologies AG, GoerTek Inc., TDK Corporation, Qorvo Inc., Murata Manufacturing Co. Ltd., Sensirion AG, InvenSense Inc., AAC Technologies Holdings Inc., Silicon Laboratories Inc., Omron Corporation, MEMSIC Inc., Knowles Corporation, Vesper Technologies Inc., Tronics Microsystems SA, X-FAB Silicon Foundries SE, SiTime Corporation, MEMSensing Microsystems SA, mCube Inc.

Asia-Pacific was the largest region in the microelectromechanical systems market in 2023. The regions covered in the microelectromechanical systems market research report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the microelectromechanical systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

The microelectromechanical system market consists of revenues earned by entities by providing microelectromechanical system services designing, engineering, prototyping, scale-up production, and research and development. The market value includes the value of related goods sold by the service provider or included within the service offering. The microelectromechanical system market also includes sales of microelectromechanical system components such as mirrors, lenses, filters, laser diodes, emitters, optical components, microfluidic elements, integral microelectronics or ICs, lab-on-chip systems, actuators, and micromotors . Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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