Global Micro-Electromechanical Systems (MEMS) Technology Market: Overview
High growth is expected in the global micro-electromechanical systems (MEMS) technology market on account of increased spending in the healthcare sectors by developing nations such as China and India. The medical infrastructure and pharmaceutical sectors are witnessing improvements due to increased support by governments across nations, and this has helped the market to grow. MEMS are used in devices measuring blood pressure, respiratory disorder diagnostic equipment, and also laparoscopic devices. The MEMS systems help doctors ro accurately measure, monitor, and control conditions of patients. The penetration of Internet of Things (IoT), smart wearable gadgets, and big data are further pushing the demand for optical MEMS. In addition to the medical sector, the commoditization of micro-electromechanical systems technology is expected to ensure the use of this technology in other sectors such as industrial, consumer electronics, telecommunication, automotive, and semiconductor.
This research report is a comprehensive analysis of the drivers and restraints affecting the growth of the industry. Trends in the industry are analyzed and future opportunities are discussed. Key segments within this industry are also studied in detail
Global Micro-Electromechanical Systems (MEMS) Technology Market: Drivers and Trends
The global micro-electromechanical systems technology market is highly fragmented and large as well as small players are present. Players in the market are competing in terms of pricing, innovation, performance, product features, and lower selling price, and distribution. Technological innovations and rise in product extensions are expected to strengthen the competition among players in the market. Players are striving to achieve product differentiation and unique service offerings through unique value proposition. In addition to this, players are striving hard to develop and introduce newer technologies so as to have an edge above other competitors.
Global Micro-Electromechanical Systems (MEMS) Technology Market: Segmentation
On the basis of geography, the market is expected to be led by Asia Pacific and is expected to continue to do so for the entire forecast period, on account of the presence of a large number of semiconductors manufacturing industries. The presence of consumer electronics and automotive components industries in countries such as China, Taiwan, and South Korea is another reason behind the growth of the micro-electromechanical systems technology market in Asia Pacific. In addition to this, low labor costs and low priced raw materials enables reduction in the cost of production, thus furthering the growth of the market in Asia Pacific.
By end user, the market can be segmented into consumer electronics, automotive, industrial, and medical. Of these, the consumer electronics segment is expected to be the key revenue generator in the forecast period. Micro-electromechanical systems technology is used for enabling display control, navigation, motion control, and gesture recognition in smartphones, cameras, tablets, smart wearable, and gaming consoles. With increase in demand for smart wearable devices and smartphones, the global micro-electromechanical systems technology market will also receive an impetus.
On the basis of product, the market is segmented into accelerometers, gyroscopes, microphones, optical MEMS, and pressure sensors. Of these, the inertial combos segment is expected to lead in the coming years as there is a need to integrate data from different sensors and produce accurate result.
Key players in the global micro-electromechanical systems (MEMS) technology market are:
The key players mentioned in the report, which are operating in the micro-electromechanical systems industry, are STMicroelectronics N.V., Hewlett-Packard Co., Texas Instruments Inc., and The Bosch Group. Information regarding their recent developments and growth strategies adopted are given in the report. The study also includes the business and financial overview of these companies.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.