MEMS market to grow to $20bn by 2028
The MEMS market is set to grow from $14.5 billion in 2022 to $20 billion in 2028 at a 5% CAGR, according to annual MEMS analysis by Yole Group, Status of the MEMS Industry report.
The consumer MEMS market remains the largest segment, where emerging wearable applications will offset the recent downturn in smartphone demand, growing from $7.6 billion to $9.4 billion at a 4% CAGR. The automotive sector continues to benefit from the increasing autonomous functionalities in cars and will remain the second largest market – while industrial, defence and aerospace, medical and telecom experience CAGRs of at least 5% over the forecast period.
The Status of the MEMS Industry report is one of Yole Group’s best sellers. The market research & strategy consulting company is covering the MEMS industry for more than 20 years and has developed a core expertise in this domain. Combining innovations and business opportunities, this report is offering a relevant and detailed understanding of the MEMS market, its ecosystem, latest innovations, and business development. Analysts offer you today a snapshot of this report.
“With more than a billion of devices shipped worldwide annually, each containing numerous MEMS components, smartphones have typically been the main driver of the MEMS consumer market. However, as wearable technology matures and a greater number of end products are entering the market, they are beginning to take some of this market share. Importantly, the emergence of new wearable functions is helping to offset the decrease in smartphone purchases – particularly notable in China – as consumers react to high inflation rates and uncertain economies,” says Pierre Delbos, Technology & Market Analyst of Yole Intelligence.
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