MEMS Pressure Sensors Market - Growth, Trends, Forecast (2019 - 2024)

MEMS Pressure Sensors Market - Growth, Trends, Forecast (2019 - 2024)

  • July 2019 •
  • 153 pages •
  • Report ID: 5797258 •
  • Format: PDF
Market Overview
The global MEMS pressure sensors market was valued at USD 2231.9 million in 2018 and is expected to register a CAGR of 4.8% over the forecast period (2019-2024). The automotive industry, which is presently undergoing a technology transition with a major focus on increasing safety, comfort, and entertainment also provides ample opportunities for MEMS pressure sensors. Emerging sensor-rich applications such as autonomous vehicles, drones, and AR/VR equipment are further accelerating the need for MEMS pressure sensors.

- The miniature size of MEMS pressure sensors is of great importance for utilizing it in the design scheme in the automotive industry, making it an essential factor for its massive adoption.
- Industry 4.0 revolution, where machines are becoming more intelligent and intuitive, is increasing the need for industrial applications of MEMS sensors.
- The increasing military spending across regions is paving the way for technologies like drones/unmanned aerial vehicles (UAVs). In addition to that, the usage of MEMS pressure sensors in traditional fighter jets with high-end navigation systems is increasing significantly.

Scope of the Report
In the scope of the MEMS Pressure Sensors study, only Silicon material has been considered, since MEMS pressure sensor chips are primarily built from silicon, assembled generally with an ASIC chip, and packaged in a first level packaging.

Key Market Trends
Automotive Application to Hold Major Share

- Sensors and Actuators are components of automotive electronic control systems. Hence, the type of sensors and actuators required are dictated by the desired control system function. With the advent of engine control systems, the need for sensors on both the input and the exhaust sides of the engine came into effect. A manifold absolute pressure (MAP) and a manifold air temperature (MAT) sensor were used to compute the density of air entering the engine.
- In the event of a severe side impact, MEMS pressure sensors help gain precious reaction time by measuring the steep and quick increase of pressure within the cavities of passenger car doors.
- Even before the accelerometers attached to the airbag control unit receive a signal indicating a heavy impact, the pressure sensors are capable of indicating that the door cavities have been compressed by accident.
- This early detection gives the airbag control unit additional time to run sophisticated algorithms to determine the airbag-deployment strategy that will deliver optimal passenger protection.

North America to Hold Major Share

- Stringent government regulations regarding safety and significantly growing automotive and aerospace industries are driving the market for MEMS pressure sensors in North America.
- The emergence of information technology, coupled with the increased usage of IoT across a wide range of manufacturing, industrial, and automotive applications, have added a new dimension to the way of conducting business operations in the region.
- The region houses 8 out of 10 largest medical device companies, including Medtronic, Johnson & Johnson, GE Healthcare, Baxter, Becton Dickinson, Cardinal Health, Abbott Labs, and Stryker. With production expected to increase over the forecast period considering the demand, both domestic and across regions (China, Canada, and Mexico accounted for 26.1% of all US medical device exports in 2017), the scope for MEMS pressure sensors is significant.

Competitive Landscape
The global MEMS pressure sensors market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. However, with sustainable sensors, many of the companies are increasing their market presence by securing new contracts by tapping new markets.

- In Oct 2018, Murata developed the world’s smallest 32.768 kHz MEMS resonator, which is expected to make a significant contribution to reducing the size and power consumption of IoT devices, wearables, and healthcare devices.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client’s requirements
- 3 months of analyst support
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