APAC will lead the global marketplace by revenue with 40 per cent market share followed by North America with 30 per cent
Microsensors, as per a report by Research and Markets, will become a $8.36 billion global market by 2026. Microelectromechanical Systems (MEMS) in healthcare and life science will reach $1.86 billion globally by 2026. The same report has also forecast the MEMS enabled industrial IoT devices to be a $1.48 billion global market by 2026.
“Microelectromechanical Systems (MEMS), represent miniaturized mechanical and electro-mechanical elements (devices and structures) that are created using various microfabrication techniques. One of the key areas for MEMS is sensors, particularly in certain emerging market opportunity areas such as virtual reality and many Internet of Things (IoT) use cases, devices and applications,” read the report.
The MEMS market is a fast-growing area within the electronics sector with certain high-growth sub-segments, such as industrial IoT, representing significantly higher growth. APAC will lead the global marketplace by revenue with 40 per cent market share followed by North America with 30 per cent.
The other three regions of Europe, Latin America, and Middle East & Africa will hold 16 per cent, 10 per cent, and four per cent of revenue respectively. Sensors are used for detection of changes in the physical environment and/or logical relationship of one object to another(s) and/or the environment. Physical changes may include temperature, light, pressure, sound, and motion.
Logical changes include the presence/absence of an electronically traceable entity, location, and/or activity. Within an IoT context, physical and logical changes are equally important, so MEMS/sensor systems will increasingly rely upon support from software.
