MEMS PRESSURE SENSORS MARKET ANALYSIS

Mems Pressure Sensors MarketSize and Trends

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 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.