Global Microelectromechanical Systems (MEMS) Market 2018-2022
About Microelectromechanical Systems (MEMS)
Microelectromechanical systems (MEMS) are miniaturized mechanical and electronic components that are manufactured through micromachining processes. The dimensions of MEMS devices can vary from 1 micron to several millimeters. Due to their small size-related complexity, MEMS can have moving and non-moving (mechanical) parts.
Technavio’s analysts forecast the global microelectromechanical systems (MEMS) market to grow at a CAGR of 9.41% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global microelectromechanical systems (MEMS) market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Microelectromechanical Systems (MEMS) Market 2018-2022
Technavio recognizes the following companies as the key players in the global microelectromechanical systems (MEMS) market: Broadcom, Robert Bosch, STMicroelectronics, and Texas Instruments.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is adoption of sensor fusion. Sensor fusion is the combination of the sensory inputs derived from distinct sources to provide a highly accurate result, which cannot be provided by a single standalone sensor. To achieve sensor fusion, there is a need for extensive technical algorithms that can allow the integration of different sensors and obtain a single output. Kalman filtering is one of the main algorithms used.”
According to the report, one driver in the market is reduction in the ASP. One of the major drivers for the growth of the global MEMS market is the declining ASP of different types of MEMS.
Further, the report states that one challenge in the market is price wars. A major challenge faced by the global MEMS market is the intense competition that exists in the market. There is a well-diversified list of international and domestic vendors. Since several vendors exist in the market, it results in the reduction of the profit margins of the companies.
Broadcom, Robert Bosch, STMicroelectronics, and Texas Instruments.
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