The global Mems Pressure Sensors Market is estimated to be valued at US$ 2363.64 Mn in 2023 and is expected to exhibit a CAGR of 6.14% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Micro-electromechanical systems (MEMS) pressure sensors have gained immense popularity for the measurement of small pressure variations in applications including automotive, medical devices, industrial process controls, and home appliances. MEMS pressure sensors offer advantages such as high precision, low cost, and miniature sizes that make them ideal for varied applications. They enable reliable and real-time measurement of different parameters through an electrical signal output for pressure, temperature, and humidity.
Market Key Trends:
Increasing adoption of MEMS pressure sensors across various industries such as automotive and healthcare is a key trend fueling market growth. They are prominently being used in manifold absolute pressure sensors in automotive engine control units, tire pressure monitoring systems, and electronic stability control systems. Moreover, advancements in wearable devices and ubiquitous health monitors have augmented the demand for MEMS pressure sensors in medical devices and digital health products. Growing applications in remote patient monitoring devices, smart insulin pumps, and pregnancy monitors are further strengthening market revenues. Miniaturization of sensor components and development of highly sensitive piezoresistive pressure sensors is another prominent trend expected to drive the MEMs pressure sensors market over the forecast period.
Segment Analysis
The MEMS pressure sensors market is segmented based on product types and industry verticals. Based on product types, the market is classified into absolute pressure sensors and differential pressure sensors. The differential pressure sensors segment dominated the market in 2020 and is expected to continue its dominance over the forecast period. Differential pressure sensors are highly used across the automotive, industrial, and medical applications due to their ability to measure gauge and differential pressures.
Key Takeaways
The Global MEMS Pressure Sensors Market Size is expected to witness high growth, exhibiting a CAGR of 6.14% over the forecast period, due to increasing demand from various end-use industries such as automotive, industrial, medical, consumer electronics, and others.
Regional analysis
The Asia Pacific region held the largest share of the MEMS pressure sensor market in 2020 and is expected to exhibit the highest CAGR over the forecast period. This is attributed to growing automotive production, increasing industrial automation, and expanding consumer electronics sector in countries such as China, Japan, South Korea, and India. The presence of leading MEMS pressure sensor manufacturers is also driving the market in the region.
Key players
Key players operating in the 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., Sensata Technologies Inc., NXP Semiconductors NV (Freescale), Goertek Inc., TE Connectivity Ltd., STMicroelectronics NV, Infineon Technologies AG, Omron Corporation, and Alps Alpine Co. Ltd. First Sensor AG, Bosch Sensortec GmbH, and Honeywell International Inc. are some of the leading players in the market.
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