With 7.9% CAGR, Micro-Electro-Mechanical System (MEMS) Market Growth to Surpass USD 24.2 billion
The Micro-electro-mechanical System (MEMS) market is projected to grow from USD 16.5 billion in 2024 and is projected to reach USD 24.2 billion by 2029; it is expected to grow at a CAGR of 7.9% from 2024 to 2029. The growth of the MEMS market is driven by growing adoption of smart consumer electronics; proliferation of IoT devices by manufacturing firm; and advancement in sensor fusion technology.
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RF MEMS is a MEMS-based RF passive component that offers
various advantages over conventional microwave devices, including improved
isolation, lower power dissipation, and reduced cost, size, and weight.
Therefore, they have broader application prospects in many fields, such as
switches, capacitors, filters, phase shifters, amplifiers, and reconfigurable
antennas. Flexible RF MEMS play an irreplaceable role in flexible
communications for reliable microwave performance and ultralow-power
consumption. With the advantages of being conformal, flexible, and
impact-resistant, flexible RF MEMS are very suitable for airborne/spaceborne
radar or IoT communication systems. Flexible reconfigurable RF MEMS feature
lightweight, high integration and performance and meet the requirements of
large curvature bending or stretchable conformal integration in satellite
communication applications, including flexible RF MEMS switch matrix, MEMS
phase shifters, reconfigurable MEMS antennas, and phased array MEMS antennas.
The automotive sector continues to integrate MEMS
technology, advancing its performance and functionality through innovations
like the recent introduction of MEMS devices. For instance, In January 2024,
TDK unveiled the InvenSense SmartAutomotive IAM-20381HT, which completed the
transition of its SmartAutomotive family to 105°C. This three-axis
MotionTracking accelerometer, qualified for automotive use, enhanced
navigation, infotainment, and telematics applications. This advancement
underscores the pivotal role of MEMS in steering innovation and meeting the
growing needs of the automotive industry. Along with this, Murata
Manufacturing, a prominent electronics components manufacturer in Japan, is set
to deliver its inaugural shipment of automotive inertial navigation sensors by
March 2024.
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Growing automotive industry in Asia Pacific region is one of
the major factor influencing the demand for MEMS in the region. According to
International Organization of Motor Vehicle Manufacturers (OICA), Asia Pacific
region continues to be a vital hub for the automotive industry, with countries
like China, India, Indonesia, and Malaysia experiencing notable growth in
vehicle sales. In 2022, China maintains
its dominance with over 27 million vehicles sold while India exhibits robust
expansion with a 24% surge in vehicle sales, reflecting its burgeoning economy
and rising consumer demand driven by economic development, urbanization, and
increasing consumer purchasing power, the Asia Pacific region solidifies its
position as a vital hub for the automotive industry, promising continued
expansion and opportunity.
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