Microelectromechanical Systems (MEMS) Market Size,Share,Growth,Competition,Trends,Growth Opportunities and Forecast (2024-2031)
The width of human hair is of the order of 80 microns. The dimensions of the microdevices are even smaller than the aspects of the microdevices.A MEMS system is the combination of a few MEMS sensors and MEMS actuators that work harmoniously to provide specific functionality.The main advantages of microdevices are low cost, accurate sensing, small space, and low energy consumption. MEMS devices are usually classified into sensors and actuators.
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Market Dynamics
An increase in sales of smartphones, widespread internet connectivity, rising demand for wearable technologies like smartwatches, and the growing market for IoT devices are the key factors responsible for boosting the growth of the global microelectromechanical systems (MEMS) market.Increasing adoption of wearable technologies like smartwatches is the primary factor boosting the global microelectromechanical systems (MEMS) market.For instance, Apple in September 2018 launched the ‘Apple Series 4 watch which is embedded with an electric heart sensor that helps in recording the ECG of a person by measuring atrial fibrillation (Afib), a form of irregular rhythm.Technological advancements in wearable technologies in integrating the number of sensors is another key contributing factor.This growth rate can be ascribed to the advancements in compactness of sensors. Furthermore, according to the consumer technology association.
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Segment Analysis
The Global Microelectromechanical Systems (MEMS) Market has been segmented by end-user application, product type, and geography.Based on the end-user application, the market is segmented as Automotive industry, Aerospace and Defense Industry, Health care industry, consumer electronics and others.The Health care industry and the consumer electronics industry is the dominant segment owing to the potential use of MEMS devices in clinical imaging and medical diagnosis and technological advancements in Healthcare technology coupled with high investments on healthcare technology research and development.
Competitive Landscape
The report profiles the following companies – Robert Bosch GmbH, ST Microelectronics, Texas Instruments, GE, Analog Devices Inc, Honeywell, Denso Corporation, TE connectivity Corp, Panasonic Corp, and NXP Semiconductors.
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