MEMS PRESSURE SENSORS MARKET ANALYSIS

The global MEMS pressure sensors market size was valued at USD 2226.91 million in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 6.14 % from 2023 to 2030. The global MEMS Pressure Sensor market is anticipated to witness strong growth over the forecast period. The major factors contributing to this growth include the increasing demand for disposable pressure sensors, technological developments in industrial manufacturing and rapid development of consumer electronics. Increasing safety concerns in the automotive industry are driving demand for MEMS pressure sensors. The rising popularity of IoT and portable electronics will also drive market growth.  

Global MEMS Pressure Sensors Market: Regional Insights

The global MEMS pressure sensors market is geographically divided into North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

North America is expected to dominate the global MEMS pressure sensors market over the forecast period due to rise in adoption across several sectors such as aerospace, automotive, and healthcare among others. Along with this, stringent government regulations for passenger safety and rapidly growing aerospace and automotive industries in the region are likely to create significant demand for MEMS pressure sensors. Moreover, growing adoption of IoT among various applications such as industrial, automotive, and manufacturing, along with emerging information technology is also expected to fuel growth of the market in North America region.

Furthermore, Asia Pacific is also anticipated to witness significant growth in the global MEMS pressure sensors market over the forecast period. This is owing to significant growth of automotive industry of the region in past few years. The region is known to be the home to major players in automotive industry such as Renault, Kia, and Hyundai. Thus, demand for MEMS pressure sensors is anticipated to continue growing in the region. This is further expected to boost growth of the market across the region.

Figure 1: Global MEMS Pressure Sensors Market Share (%), By Region, 2022

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Global MEMS Pressure Sensors Market Drivers:

Emerging Industry 4.0 and automation across the globe to drive the market pace

MEMS provides reliability, longevity, and accuracy to support the smart industry. MEMS sensors can be used for Industry 4.0 in for detecting early failure and for predictive-maintenance systems where temperature, vibration, sound, pressure, and acoustics analyses are required, and due to this, the demand for MEMS pressure sensors is increasing in Industry 4.0 and automation applications. The manufacturing sector has experienced a massive shift due to Industry 4.0 and use of IoT, due to which enterprises are adopting smarter, agile, and innovative methods of advancing production with the use of technologies that augment and complement human labor with reduced industrial accidents and automation. Thus, this is major factor expected to boost growth of the global MEMS pressure sensors market over the forecast period.

Rise in demand for sensor rich applications to fuel the market growth

People’s lives have been benefited by use of sensor technologies in almost every field. Sensors detect and gather signals from environment/source and then they create the reaction accordingly. Different sources are used including temperature, light, pressure, and movement to gather signals. Innovative sensors technologies are utilized in different healthcare, lifestyles, production, fitness, and everyday life applications. The use sensors in drug donors facilitates the drug delivery in medical sector. Whereas, biological sensors make use of biological molecules as receptors for detecting particular objective chemicals. Such sensor rich applications are creating strong demand for MEMS pressure sensors, which is expected to drive growth of the global MEMS pressure sensors market during the forecast period.

Global MEMS Pressure Sensors Market Opportunities:

Emerging novel technology along with automation is expected to create lucrative environment for growth opportunities in the global MEMS pressure sensors market over the forecast period. These sensors are anticipated to expand to new applications, particularly across automotive and healthcare sensors. Moreover, the use of MEMS pressure sensors is rapidly increasing in novel devices such as smartwatches, fitness trackers, smart sensor nodes for IoT and virtual reality glasses. These factors are in turn expected to offer multiple growth opportunities for players in the market.

Growing healthcare applications of MEMS pressure sensors are anticipated to provide market players with business opportunities in the market during the forecast period. MEMS pressure sensors are used in various healthcare applications including gut monitoring and eye therapy. For instance, Sensimed, a Europe-based company and STMicroelectronics in collaboration developed ophthalmic implants that was approved by the U.S. Food and Drug Administration, for expansion of their business across regions. Thus, this factor is expected to offer growth opportunities in the market over the forecast future.

Global MEMS Pressure Sensors Market Trends:

Growing demand for health and fitness monitoring devices is a major trend

The demand for health and fitness monitoring devices used in everyday life frequently is increasing around the world. Activity trackers, smartwatches, and other personal digital health devices are growing in demand significantly. Companies are developing new MEMS pressure sensors such as Barometric pressure sensors that are ideal for such applications including fitness bands, smartphones, watches, and earphones to support the parameters of fitness and enable higher precision of physical activity. Thus, with increasing demand for health and fitness monitoring devices, this trend is expected to continue in the global MEMS pressure sensors market over the forecast period.

Rising demand to control and monitor the environment is a growing trend

The demand for monitoring and controlling the environment along with the demand for equipment and instruments used daily by users is increasing all over the world. Due to this demand, the addition of more sensors in industrial equipment, automobiles, and installation, and sensors for ambient intelligence has become necessary. Such sensors have to be capable of communicating wirelessly and have to be self-contained for preventing the use of multiple wires. This creates demand for more sensors and wireless transmission components along with small energy-generating modules. This in turn drives demand for MEMS sensors, which is expected to fuel the market growth in the coming future.

Global MEMS Pressure Sensors Market Restraints:

Complexity of multiple interface to obstruct market growth

Interfaces cause some of the highly severe issues in the design of sensor rich systems. The design and manufacturing of systems become complicated due to multiple obstacles connected with sensor interfaces. While, the design and manufacturing becomes complicated also due to these systems allow reuse across multiple implementation and are invaluable for decoupling parts. When users are required to integrate several sensors for giving a single signal in order to report the information needed by the system, it becomes challenging. Thus, these factors further impact adoption of the sensors, which in turn is expected to hinder growth of the global MEMS pressure sensors market over the forecast period. However, with increasing technological development, companies are working on decreasing such complexities in new products, which is likely to support the market growth.

Considerable pressure of pricing to impede the market pace

While the shipment of pressure sensors has increased due to their widespread applications in wearable electronics and automated intelligent controls, the growing sales are majorly hampered by the price erosion. This is partly due to rapidly growing competition among manufacturers of pressure sensors, which in turn is causing innovations in developing novel consumer, portable, and IoT applications. Owing to the pricing pressure for massive applications, manufacturers are decreasing the cost of pressure sensors, which is impacting the revenue growth and is reducing suppliers’ margins. Thus, the market growth is likely to be impacted adversely by considerable pricing pressure.                        

 Figure 2: Global MEMS Pressure Sensors Market Share (%), By Type, 2022

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 Global MEMS Pressure Sensors Market Segmentation:

The global MEMS pressure sensors market report is segmented into Application and Type.

Based on Application, the market is segmented into Medical, Automotive, Industrial, Aerospace and Defense, and Consumer Electronics. Out of which, Medical is expected to dominate the global market over the forecast period and this is attributed to the extensive use of MEMS pressure sensors in various applications in healthcare. For instance, ventilators provide breathing assistance for patients suffering from illness prohibiting normal breathing or patients who have sustained a severe injury. Thus, the segment is likely to witness strong growth in the global MEMS pressure sensors market over the forecast period.

Automotive segment is also expected to witness significant growth in the near future and this is owing to the increasing growth of automotive industry, as vehicles continue to get electrified, automated, and connected. This creates demand for semiconductor devices including MEMS sensors. Thus, the automotive applications of MEMS pressure sensors are expected to grow in the coming future, which will drive growth of the market.

Based on Type, the market is segmented into Silicon Piezoresistive, and Silicon Capacitive. Out of which, Silicon Piezoresistive is expected to dominate the global market over the forecast period and this is attributed to the increasing focus of companies on development of novel products to cater the increasing consumer demand and to grow revenue stream. For instance, the Nova Sensor P122 High Silicon Pressure Sensor Die is miniature piezoresistive pressure sensor with 2.5mm x 2.5mm size. The company made it available as an absolute pressure sensor, with the medium pressure referencing an internal vacuum enclosed in the die.

Silicon Capacitive segment is also expected to witness significant growth in the near future and this is owing to the various advantages of silicon capacitive leading to growing adoption of these sensors. The use of these silicon capacitive pressure sensors is increasing in several applications, which is likely to fuel growth of the segment.

Global MEMS Pressure Sensors Market: Key Developments

In December 2021, NextNav entered into partnership with Bosch Sensortec, a company spcializing in sensing solutions for consumer electronics, for enabling more exact vertical placement in barometric pressure sensors.

In February 2021, STMicroelectronics NV announced partnership with Politecnico di Milano, a scientific-technological university for establishing a joint research center on advanced materials for sensors.

In February 2021, STMicroelectronics NV launched the next-generation MEMS sensors, which enable the next leap in features and performance for consumer mobiles and smart industries, retail, and healthcare.

In July 2022, Bosch Sensortec revealed that the machine-learning platform of Edge Impulse now offers support to its sensors on the Arduino NiclaSense Me Microcontroller.

Global MEMS Pressure Sensors Market: Key Companies Insights

The global MEMS pressure sensors market is highly competitive. This is attributed to continuous launch of new technologies due to ongoing R &D and efforts by value chain participants. Moreover, key players are adopting various business growth strategies in order to expand their presence on regional as well as global basis.

Some of the key players in the global 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. (TDK Corporation), Sensata Technologies Inc., NXP Semiconductors NV (Freescale), Goertek Inc., TE Connectivity Ltd., STMicroelectronics NV, Infineon Technologies AG, Omron Corporation, and Alps Alpine Co. Ltd.

*Definition:

MEMS pressure sensors are miniature in size and are highly responsive to pressure changes. These devices are used for a variety of applications, including automotive, medical, aerospace and other industrial applications. They are also capable of low power consumption and are stable in operation.