Microelectromechanical Systems (MEMS) Market to Reach $28.84 billion by 2024 - Analysis By Application (Automotive, Consumer Electronics, Industrial, Healthcare), Region & Segment - Research and Markets

DUBLIN--(BUSINESS WIRE)--

Research and Markets has announced the addition of the "Microelectromechanical Systems (MEMS) 2014 - 2024" report to their offering.

The global microelectromechanical systems (MEMS) market is estimated to reach USD 28.84 billion by 2024, according to this new report. The industry is expected to witness tremendous growth owing to increasing demand in consumer and automotive application segment.

The market for MEMS technology is gaining traction in automotive sector with increasing concerns for passenger safety and regulatory norms. MEMS devices such as pressure sensors, accelerometers, and others are used in cars for air bags, tire pressure monitoring, electronic stability control, and other safety features. Growing popularity of wearable devices is anticipated to be key driver for the industry over the next seven years.

Advancement in technology such as sensor fusion is expected to boost industry growth over the forecast period. Technology advancement has led to reduction in size of the devices, making it cost-effective, efficient, and compatible at the same time.

Calibration and accuracy issues may hinder market growth. Intense competition observed among industry participants is a key challenge, forcing industry players to keep the price low to remain competitive in the market.

Government initiatives, rising healthcare expenditure, and technological advancements are anticipated to boost healthcare segment over the forecast period. Increasing preference of consumer towards home medical monitoring in order to reduce hospital cost and penetration of health monitoring wearable devices is estimated to trigger the use of the technology and open new avenues for the industry players.

Companies Mentioned:

• Asahi Kasei Microdevices Corporation (AKM)
  
• Analog devices, Inc.
  
• Avago Technologies
  
• Canon, Inc.
  
• Denso Corporation
  
• Freescale Semiconductors, Inc.
  
• GE Sensing & Inspection Technologies GmbH
  
• Honeywell International, Inc.
  
• Hewlett-Packard (HP)
  
• Infineon Technologies AG
  
• InvenSense, Inc.
  
• Knowles Electronic LLC.
  
• Murata Manufacturing Company Ltd.
  
• Panasonic Corporation
  
• Robert Bosch GmbH
  
• Sensata Technologies, Inc.
  
• Sony Corporation
  
• STMicroelectronics
  
• Texas Instruments
  
• TriQuint Semiconductor
  

Key Topics Covered:

1 Methodology and Scope

2 Executive Summary

3 MEMS Industry Outlook

4 MEMS Application Outlook

5 MEMS Regional Outlook

6 Competitive Landscape

For more information about this report visit http://www.researchandmarkets.com/research/96f9bw/microelectromechan

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