MEMS: Key market research findings
- APAC dominates the market geographically
- Consumer electronics account for a majority of the market’s revenue
- Key vendors – Analog Devices, Bosch, InvenSense, Knowles, STMicroelectronics, and Texas Instruments
Technavio’s market research analysts predict the global MEMS market to grow at a CAGR of around 16% in terms of unit shipments by 2020. The short replacement cycle time of mobile devices is estimated to augment the demand for MEMS in the market. Consumer electronic devices such as mobiles and tablets become obsolete after a short period of time. This triggers the need for such devices to be replaced by a more advanced model, which, in turn, results in shorter product replacement cycles. Furthermore, due to the low prices of smartphones, it is affordable for most consumers, thus, making the replacement rate very high. Currently, the global MEMS market is dominated by APAC with a market share of around 55%. The presence of countries such as China, Japan, South Korea, and Taiwan that are manufacturing hubs for semiconductor manufacturing companies in this region will fuel the growth of the market in APAC during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the MEMS segments based on the end-user.
“The demand for smart lifestyle wearable devices is currently on an upsurge. Consumers in the developed nations are purchasing wearable devices to enhance their lifestyle. Besides, the demand for unconventional wearables such as footwear, microsensor gloves, and sports trackers is also on a rise. With the recent increase in awareness about health-monitoring applications, individuals are more inclined to purchase wearables with multiple functions. This is prompting manufacturers to innovate and develop new products,” says Amrita Choudhury, Lead Analyst, ICT, Technavio Research.
By 2020, the consumer electronics segment will account for more than 53% of the overall market share to become the key revenue generating vertical of the global market for MEMS. MEMS are integrated into consumer electronics like smartphones, tablets, cameras, gaming consoles and wearables, and enable features such as display control, motion control, navigation, and gesture recognition. The increasing demand for smartphones will propel the growth of the MEMS market for consumer electronics.
The key vendors in the global MEMS market include Analog Devices, Bosch, InvenSense, Knowles, STMicroelectronics, and Texas Instruments. In the next few years, the competitive environment of this market will intensify due to technological innovations and M&As. To survive and succeed in such an intensely competitive environment, it is important for vendors to distinguish their product and service offerings through clear and unique value propositions. Additionally, to remain competitive in this market, vendors not only have to develop new technologies but also keep ahead of emerging technologies that can have an impact on their product lines.
A more detailed analysis is available in the Technavio report, Global MEMS Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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