by The Mems Pressure Sensors Market is estimated to be valued at US$ 2363.64 Mn in 2023 and is expected to exhibit a CAGR of 6.14% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
MEMS pressure sensors are microelectromechanical systems that are used to convert pressure into electrical signal. They are used in various consumer electronics such as smartphones, tablets, smart watches etc for measuring air-pressure, atmospheric pressure and liquid pressure. MEMS pressure sensors have miniature dimensions which enable designers to integrate them easily in small electronic devices. Their high sensitivity and reliability makes them suitable for measuring small pressure changes.
Market Dynamics:
The growing demand for consumer electronic devices is one of the major drivers of the MEMS pressure sensors market. Consumer electronics giants are focusing on integrating various MEMS sensors including pressure sensors in their smart devices to enhance functionality. For instance, smartphones utilize MEMS pressure sensors to adjust screen brightness according to ambient lighting conditions. In addition, MEMS pressure sensors also play a vital role in biomedical applications such as blood pressure monitors, respiratory devices etc. The emergence of IoT and wearable devices has also boosted the demand for MEMS pressure sensors as they are critical components in fitness trackers and smartwatches. Furthermore, growing automotive industry utilizing MEMS pressure sensors for tire pressure monitoring systems and fuel efficiency applications are expected to propel the market growth over the forecast period.
Segment Analysis
The MEMS pressure sensors market is segmented based on diaphragm type, technology, application and geography. Based on diaphragm type, the piezoresistive diaphragm segment dominated the market and accounted for the largest share in 2022. Piezoresistive diaphragms utilise the piezoresistive effect exhibited by the doped silicon used in sensing elements, which causes a change in electrical resistance when subjected to mechanical stress. Their small size, low cost and suitability for harsh environment make piezoresistive diaphragms the most used type.
PEST Analysis
Political: Regulations on product safety and application areas such as automotive and healthcare are shaping the MEMS pressure sensors market. Standards ensure compatibility and interoperability.
Economic: The market is expected to grow moderately during the forecast period driven by recovering global economy. Growth sectors include automotive, healthcare and consumer electronics.
Social: Increasing health awareness and demand for improved healthcare services is driving demand for portable diagnostic tools and wearable devices incorporating MEMS pressure sensors.
Technological: Miniaturization, increased sensitivity and reliability are key focus areas. Integrating MEMS sensors with AI and IoT platforms will gain significance.
Key Takeaways
The Global MEMS Pressure Sensors Market Size was valued at US$ 2,363.64 million in 2023 and is expected to reach US$ 4,055.66 million by 2030, exhibiting a CAGR of 6.14% during the forecast period. Growing demand for airbags, tire pressure monitoring systems and other automotive safety systems is a major market driver.
The Asia Pacific region accounted for the largest market share in 2023 owing to heavy investments in MEMS technology by China and other countries. China, Japan and South Korea are major manufacturing hubs and among the fastest growing regional markets.
Key players operating in the MEMS pressure sensors market are First Sensor AG, Bosch Sensortec GmbH, Honeywell International Inc., Murata Manufacturing Co. Ltd., ROHM Co. Ltd., Amphenol Corporation, InvenSense Inc., Sensata Technologies Inc., NXP Semiconductors NV (Freescale), Goertek Inc., TE Connectivity Ltd., STMicroelectronics NV, Infineon Technologies AG, Omron Corporation, and Alps Alpine Co. Ltd. Major players focus on product innovation and partnerships to strengthen market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
