Global Industry Analysts has released a new market research report titled ‘Microelectromechanical Systems (MEMS) Devices: A Global Strategic Business Report.’
According to the report, the estimated value of the global MEMS device market in 2017 is $11.3 billion. The market growth will be driven primarily by increasing demand in the automotive end-use and consumer electronics industries in developing nations. Falling prices, growing competition and technology advancements will drive technology penetration, which in turn can increase the market growth in the near future.
The report provides data pertaining to company profiles, mergers and acquisitions, market trends, drivers and issues, and other strategic industry operations. Geographic markets covered in the report include the US, Europe, Canada, Latin America, Asia-Pacific, Japan and Rest of World. End-use sectors discussed in the report include computers, telecommunication, medical/biomedical, commercial/industrial and other applications. Product markets covered in the report include gyroscopes, inkjet heads, accelerometers, pressure sensors, wafer probes & optical MEMS, and others.
At present, MEMS devices are used in a broad array of electronic products, including medical equipment, wireless devices, hard disk drives, automotive electronics and other handheld electronic devices such as smartphones, PDAs and much more. Medical end-use and telecommunications industries will drive the growth of MEMS devices in the years to come. In the medical industry, MEMS devices will be used in kidney dialysis, microneedles, inhalers, blood pressure monitoring, cancer detecting and microfluidic devices. Government-mandated tire-pressure monitoring systems and electronic stability systems will drive the growth of MEMS sensor sin the automotive industry.
Europe is the largest MEMS market in the world. Asia-Pacific is the fastest growing market with an estimated CAGR of 12.2% during the reporting period. The need to reduce production costs drives the use of MEMS modules in the place of existing mass-market technologies.
Major players in the marketplace include Texas Instruments, TowerJazz, STMicroelectronics, Silicon Microstructures, Sensonor Technologies, Panasonic, NeoPhotonics, Micralyne, Memsic, MEMSCAP, LioniX, Kistler Instrument, Kavlico, Hewlett-Packard, Bosch Sensortec, Apogee Technology, Analog Devices, Coventor and Colibrys.
Source: http://www.strategyr.com