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Global Microelectromechanical Systems, MEMS Devices Market to Reach US$11.3 Billion by 2017
As miniaturized electro-mechanical structures, MEMS devices have proliferated and penetrated every field in modern electronics. MEMS devices are currently utilized in a wide range of electronic products, such as, automotive electronics, hard disk drives, wireless devices, medical equipment, and other portable electronic devices, such as, PDAs, smartphones, among others. The MEMS technology blends electrical and mechanical components onto the same Chip, thus enabling the development of smart products by supporting computational ability of microelectronics with the perception and control capabilities of microsensors and microactuators. Strong growth for MEMS is forecast to stem from the telecommunications and the medical end-use industries. MEMS technology will scale new frontiers in the medical industry wherein MEMS devices will find applications in microfluidic devices, cancer detecting, blood pressure monitoring, inhalers, microneedles, and kidney dialysis. MEMS technology based insulin pumps and drug delivery will continue to gather momentum, and is expected to exhibit enormous commercial potential in coming years. Moreover, with improving medical & pharmaceutical infrastructure, coupled with increased healthcare spending in emerging nations, there will be strong demand in countries like China and India. In the automotive industry, growth will stem from the use of MEMS sensors in government-mandated electronic stability systems (ESC) and tire-pressure monitoring systems (TPMS).
The world MEMS devices market, which significantly declined during the years 2008 & 2009 as a result of the financial crisis led recession, has made a quick rebound in sync with the recovery in key end-user industries, such as, consumer electronics, automotive, and telecommunications, among others. While all key end-user industries continue to recover the world over, in Europe the MEMS devices market is running into fresh set of challenges. The macro themes affecting Europe include the prolonging of the sovereign debt crisis as a result of the half-measures implemented till date in attempts to stave off the crisis, a dysfunctional financial system that is fuelling a slow-motion economic collapse and fears over reduced consumer spending and slower economic growth as a result of austerity measures. Given the yet early signs and mixed signals emanating from the handling of Europe’s debt crisis, another cycle of downturn is currently not seen as likely for the MEMS market. But the market stands threatened nevertheless by the future playout of the Eurozone’s debt crisis. Although speculations currently run amok over the possible scenarios for the Eurozone's future, current levels of guarded optimism over the government’s latest attempts to rein in the debt crisis, discounts the impact of a possible Eurozone crisis, which is still not confirmed as a technical recession.
An across the board impact of the eurozone crisis is currently not seen as likely and consumer spending in Europe is therefore expected to hold up in the year 2012 despite the debt crisis. For instance, in the automobile industry in Europe, immediate production cutbacks are not seen as likely, given the yet patchy slowdown in auto sales. For instance, pockets of strength continue to exist in the region, such as in Germany and the UK alongside the quarterly weakness witnessed in France, Spain and Portugal. Also, the 2007-2009 recession inspired adoption of leaner inventory holding strategies and restructured cost bases, and shrewd expansion into developing countries to minimize risk exposure in domestic markets, now has the automotive industry in the region better equipped to weather a possible Eurozone slowdown. Nevertheless, auto makers in the region remain concerned and are continuing to lobby for a quicker intervention of the European leaders in resolving the debt crisis. Currently, however production continues to hold up even in the face of weaker than expected growth and optimism remains with no downgrade in the outlook for auto production.
In the consumer electronics industry, there are emerging signs of consumers shifting to lower priced products at a time when spending is coming under pressure from the crisis. The telecommunications industry in the region has until now shown no signs of weakening as is indicated by the still healthy financial performance and strong liquidity of EU’s largest telecom operators - France Télécom, Telefónica, Deutsche Telekom, Vodafone among others. Market fundamentals continue to remain intact, network upgradations plans have witnessed no major disruptions till date, and pockets of strong growth exist in market segments such as, broadband internet, online pay TV, smartphones, healthy demand for data-rich services, LTE and WiMAX equipment. In the industrial sector, despite the challenges ahead and uncertainties over the continued economic stability in Europe, most market indicators for the immediate-term future feature a largely positive outlook for the manufacturing industry in the year 2012. Manufacturing production which continued to recover from 2010 through 2011 is expected to continue into the year 2012. For instance, in Germany industrial/manufacturing output is holding well as indicated by the country’s yet strong export market, a key reason for the country’s superior handling of the debt crisis in comparison with Greece, Portugal, Spain and Italy.
As stated by the new market research report on Microelectromechanical Systems (MEMS) Devices, Europe represents the largest market worldwide. Asia-Pacific is forecast to emerge into the fastest growing market with a projected CAGR of 12.2% over the analysis period. In the upcoming years, economies of scale will push costs of production lower thus enabling faster replacement of current mass-market technologies with MEMS modules. High volume manufacturing will gain in significance with the gradual commoditization of MEMS devices. Increasing popularity of deep reactive ion etch and other process technologies in production of MEMS and Wafer-level Bonding devices for packaging will positively benefit the market.
Major players in the marketplace include Analog Devices Inc., Apogee Technology Inc., Bosch Sensortec, Colibrys Ltd., Coventor Inc., Epson Toyocom, Hewlett-Packard, InvenSense Inc., IntelliSense Software Corporation, Kavlico Corporation, Kistler Instrument Corp., LioniX BV, MEMSCAP S.A., Memsic Inc., Micralyne Inc., NeoPhotonics Corporation, Panasonic Corp., Sensonor Technologies, Silicon Microstructures, Inc., STMicroelectronics, TowerJazz, Texas Instruments Inc, among others.
The research report titled “Microelectromechanical Systems (MEMS) Devices: A Global Strategic Business Report” provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections (in US$) for major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, Rest of Europe), Asia-Pacific, Latin America and Rest of World. End Use segments analyzed include Commercial/Industrial, Medical/BioMedical, Telecommunication, Computers, and Other Applications. Global MEM devices market is also analyzed by product categories, such as, Accelerometers, Gyroscopes, Inkjet heads, Wafer Probes & Optical MEMS, Pressure Sensors and others.
Details of the new report, table of contents and ordering information can be found on Electronics.ca Publications' website. View the report: Microelectromechanical Systems (MEMS) Devices: A Global Strategic Business Report.