With 7.6% CAGR, Micro-Electro-Mechanical System (MEMS) Market Growth to Surpass USD 22.9 billion
The MEMS 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. Rising demand for consumer electronics and increasing demand for IoT devices are driving the market for MEMS. Advancement in sensor fusion technology will also boost market growth in the coming years.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=13689179
RF MEMS switches are more robust than other switch
technologies and can deliver better performance in harsh environments and
extreme operating conditions. RF MEMS switches have proven their capability to
operate under extreme shock, harsh temperature, and vibrations and are durable
to function throughout their operating life for demanding applications. These
features of RF MEMS switches are increasing their applications as virtually
every market seeks smaller, lighter components that consume less power can be
produced in high volume and are cost-effective. MEMS-based switches are
expected to substitute existing products and be used in new applications, such
as smartphones and consumer electronics devices. RF MEMS is also expected to
replace the electromechanical relay (EMR) as it is comparatively slow, large,
consumes more DC power, and has a short operating life. It will be used in
telecommunications, aerospace, defense, and many other applications.
The IoT components and devices can be made much simpler
using MEMS technology. MEMS components come in various forms, including
magnetometers, microphones, oscillators, sensors, and switches. Their compact
form factor, low power consumption, and manufacturing scalability make MEMS
devices a good fit for cost-conscious IoT applications. The demand for IoT
devices is increasing in smart homes, factories, and the automotive industry.
It is estimated that there will be more than 31 billion connected IoT devices
by 2025. As MEMS technology plays a key role in IoT devices, their growing
demand is expected to be one of the key drivers for the MEMS market growth.
Inquiry Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=13689179
The consumer electronics industry is witnessing rapid
growth. Wearables, hearables, and smart home devices are in high demand. These
devices are increasingly becoming essential to the daily routine, monitoring
the environment, tracking vitals, and sending alerts. In 2021, the global
shipment of wearables was over 140 million—a yearly growth of over 25%. The
need for miniaturized components is increasing as the size of consumer
electronics is becoming compact, and their functionalities and features are
increasing. This is where MEMS technology plays a key role in supporting the
growth of the wearable and hearable devices market. Major players in the
wearable devices market, such as Samsung Electronics, Apple Inc., Garmin, and
Google (Fitbit), are increasing the implementation of MEMS components in their
wearable and hearable devices.
Comments
Post a Comment