MEMS Foundry Market worth US$ 1,332.55 million by 2028 - Exclusive Research by The Insight Partners
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Asia & MEA is expected to register the highest CAGR in the MEMS Foundry Market during the forecast period (2022-2028)
NEW YORK, UNITED STATES, February 21, 2023 /EINPresswire.com/ -- According to a new research report, titled "MEMS Foundry Market1 Forecast to 2028 – COVID-19 Impact and Global Analysis," published by The Insight Partners, the market is expected to reach US$ 1,332.55 million by 2028, registering a CAGR of 9.7% from 2022 to 2028.
MEMS Foundry Market - Strategic Insights
Report Coverage Details
Market Size Value in US$ 764.05 million in 2022
Market Size Value by US$ 1,332.55 million by 2028
Growth rate CAGR of 9.7% from 2022 to 2028
Forecast Period 2022-2028
Base Year 2022
No. of Pages 163
No. of Tables 59
No. of Charts & Figures 75
Historical data available Yes
Segments Covered MEMS Type, Process, Foundry Type, and End User
Regional scope North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scope US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report Coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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The Europe MEMS foundry market is segmented into Germany, the UK, Sweden, and the Rest of Europe. Europe has a well-developed industrial ecosystem, with the automotive manufacturing industry being one of the largest industries. The growing automotive sector, representing over 7% of the region's GDP, is driving market growth in the region. The presence of established car manufacturers, increased integration of various sensors in vehicles, a surge in the development and sales of electric vehicles, and various initiatives by governments of various European countries for the growth of the automotive industry are propelling the demand for MEMS sensors. Further, increased procurement of electric household appliances and the emergence of artificial intelligence (AI), the Internet of Things (IoT), smart homes, smartphones, linked automobiles, and smart TVs are supporting the industry's growth. All these factors are further boosting the European MEMS foundry market growth.
Globally, the integration of MEMS-based sensors in weapons and defense systems is estimated to increase significantly, which is further expected to boost the MEMS foundry market. Sensors used in military and defense applications must be reliable in every aspect, as they are a critical part of devices used in defense applications, including monitoring and surveillance at borders. Systems such as drones, missiles, spacecraft, ships, satellites, and rockets require various MEMS sensors, including accelerometers and gyroscopes, to collect data for proper functioning. Active sensors, smart sensors, intelligent sensors, camera sensors, infrared sensors, and nano-sensors are the other important types of sensors used in military devices. Therefore, the rising adoption of MEMS solutions in military applications is encouraging MEMS manufacturers to expand their manufacturing capabilities, thereby driving the MEMS foundry market growth.
The COVID-19 pandemic has negatively affected the operations of electronics and semiconductor manufacturers, as they discontinued their operations completely or continued with limited workforces. As a result, product deliveries were delayed in 2020. Mercedes, Volkswagen, Skoda, BMW, Audi, and other automotive manufacturers experienced challenges that led to a loss of revenue due to the impacts of the pandemic, such as supply chain disruption and semiconductors shortage. However, owing to the adoption of the work-from-home model, there was a surge in demand for electronics products. Consumers and businesses purchased new laptops for the staff working remotely, and children were also being home-schooled. As a result, the demand for semiconductors grew from Q3 of 2020 to 2021. Such factors boosted the MEMS foundry market growth.
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The MEMS foundry market is segmented on the basis of MEMS type, process, foundry type, and end user. Based on MEMS type, the market is segmented into accelerometer, gyroscope, digital compass, mems microphone, pressure sensor, temperature sensor, and others. Based on process, the market is categorized into deposition, lithography, etching & fabrication, and packaging. Based on foundry type, the market is segmented into deposition, lithography, etching & fabrication, and packaging. Based on end user, the MEMS foundry market is segmented into large enterprises and SMEs. Based on vertical, the MEMS foundry market is segmented into consumer electronics, automotive, industrial, healthcare, and others.
Key Findings of Market Study:
Environmental sensor networks have evolved with the requirement of wireless sensor networks for many applications in earth science research. These sensors are used for sensing volcanoes, oceans, glaciers, and forests. The sensor network is also installed in various cities to monitor the concentration of harmful gases. Environmental sensors, such as gas sensors, temperature sensors, and smoke sensors, integrated with artificial intelligence-based interfaces are expected to aid in enhanced environmental protection. Also, AI-enabled environmental sensors are beneficial at an industrial scale for monitoring chemical releases, which contributes to environmental resource protection. Such trends are expected to boost the MEMS foundry market growth in the coming years.
MEMS Foundry Market: Competitive Landscape and Key Developments
The five leading global MEMS foundry market players include Silex Microsystems AB; Teledyne Dalsa; Sony Semiconductor Solutions Corporation; Taiwan Semiconductor Manufacturing Company, Limited; and X-FAB Silicon Foundries SE. The positioning of these “Five Key Players” is derived by giving weightage to the following key performance parameters—overall revenue, segment revenue, geographical reach, customer base, new solution/service launches, market initiatives, investment in technology up-gradation, R&D investments, mergers & acquisitions, and other market-related activities. Other notable MEMS foundry market players profiled in the global report are Asia Pacific Microsystems, Inc.; Atomica Corp.; ROHM Co., Ltd.; STMicroelectronics, N.V.; and Koninklijke Philips N.V.
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