Microelectromechanical Systems (MEMS) Market Report, published by Variant Market Research, forecast that the global market was valued at $15 billion in 2016 and is expected to reach $35 billion by 2024; growing at a CAGR of 11.4% from 2016 to 2024. In geographical segments, Asia Pacific and RoW are expected to grow at a CAGR of 12.4% and 12.1%, respectively, during the forecast period.

High adoption in smartphones, explosive development of Internet of Things (IoT), thriving portable electronic market, and robust demand in the automation industry are some of the factors driving the global microelectromechanical systems market. However, lack of accuracy and standardization may restrict the market growth. Advancement in technology such as sensor fusion and growing applications of MEMS are expected to generate various growth opportunities in the coming year.

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Product type, industry vertical and geography are the primary classifications of global microelectromechanical systems market. Product type is further classified into sensors (gyroscope, accelerometer, microphone, pressure sensor, inertial combos, magnetometer and others such as optical sensor and environment), actuators (inkjet systems, optical MEMS such as autofocus, projection system, micromirror and micro displays), oscillators & resonators, bio-chip & micro fluidic, RF MEMS and others which include microbolometers, PIR & thermopiles and digital compass). Industry vertical segment comprises of automotive, aerospace and defense, consumer electronics, industrial, healthcare, and telecommunication.

By industry type, consumer electronics dominated the market with largest share of 49.9% followed by automotive with 26.1%, in 2016. And by type, sensor occupied 55.8% of the total market share followed by actuators. Also in sensors, accelerometer is anticipated to continue its dominance followed by gyroscope, throughout the forecast period.

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Geographically, the market is classified into North America, Europe, Asia-Pacific and Rest of the World (RoW). Asia-Pacific is the fastest growing region in the microelectromechanical systems market with respect to CAGR, and is probable to persist this trend through the forecast period i.e. 2016-2024, driven by increase in consumption and awareness, specifically in China and India. In 2016, Asia-Pacific held 52.9% of the total market share, trailed by North America with 22.7% share.

The key market players include Hewlett-Packard Company (U.S.), Canon Inc. (Japan), Panasonic Corporation (Japan), Robert Bosch GmbH (Germany), Texas Instruments Inc. (U.S.), Sensata Technologies, Inc. (U.S.), Knowles Electronics (U.S.), Denso Corporation (Japan), Avago Technologies (Singapore), and Seiko Epson Corporation (Japan).

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Scope of Microelectromechanical Systems (MEMS) Market

Product Type Segments

• Sensors
o Accelerometer
o Gyroscope
o Pressure sensor
o Inertial combos
o Microphone
o Magnetometer
o Others (Environment and Optical Sensor)
o Actuators
 Inkjet systems
 Optical MEMS (Projection System, Autofocus, Micromirror, and Micro Displays)
 Oscillators and Resonators
 micro fluidic and bio-chip
 RF MEMS
 Others (PIR and Thermopiles, Microbolometers, and Digital compass)

Industry Vertical Segments

• Consumer Electronic
• Automotive
• Industrial
• Aerospace and Defense
• Healthcare
• Telecommunication

Geographical Segments

• North America
o US
o Canada
o Mexico

• Europe
o Germany
o France
o United Kingdom
o Spain
o Others

• Asia-Pacific
o China
o India
o Japan
o South Korea
o Others

• RoW
o South America
o Middle East
o Africa

About Variant Market Research

Variant Market Research offers syndicated and customized reports to fulfil clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.

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