According to a new research report, titled "MEMS Foundry Market Forecast to 2028 - COVID-19 Impact and Global Analysis," published by The Insight Partners, the market is expected to reach US$ 1,332.55 million by 2028, registering a CAGR of 9.7% from 2022 to 2028.
In Europe, the MEMS foundry market is divided into several countries, including Germany, the UK, Sweden, and the Rest of Europe. The region boasts a well-established industrial ecosystem, with the automotive manufacturing industry being a significant contributor to the economy. The growth of this industry, which accounts for over 7% of the region's GDP, is propelling the demand for MEMS sensors in Europe. The presence of established car manufacturers, increased integration of various sensors in vehicles, a surge in the development and sales of electric vehicles, and various initiatives by governments of various European countries for the growth of the automotive industry are driving the growth of the MEMS foundry market in the region. Additionally, the increased adoption of electric household appliances and the emergence of artificial intelligence (AI), the Internet of Things (IoT), smart homes, smartphones, connected automobiles, and smart TVs are also supporting the growth of the industry in Europe.
Globally, the integration of MEMS-based sensors in defense and military systems is expected to witness significant growth, which will boost the MEMS foundry market. Sensors used in defense applications must be reliable in every aspect, as they are a crucial component of devices used in defense applications such as monitoring and surveillance at borders. Various MEMS sensors, including accelerometers and gyroscopes, are required for proper functioning in systems such as drones, missiles, spacecraft, ships, satellites, and rockets. In addition, active sensors, smart sensors, intelligent sensors, camera sensors, infrared sensors, and nano-sensors are other important types of sensors used in military devices. Thus, the rising adoption of MEMS solutions in military applications is driving MEMS manufacturers to expand their manufacturing capabilities, thereby boosting the MEMS foundry market growth.
The COVID-19 pandemic had a negative impact on electronics and semiconductor manufacturers, as they had to either halt their operations entirely or continue with limited workforces, causing delays in product deliveries in 2020. The automotive industry also faced revenue losses due to pandemic-related challenges such as supply chain disruptions and semiconductor shortages. However, the work-from-home model led to a surge in demand for electronics products as consumers and businesses purchased new laptops for remote work and home-schooling. This increased demand for semiconductors, driving the growth of the MEMS foundry market.
The MEMS foundry market is categorized based on MEMS type, process, foundry type, end user, and vertical. MEMS types include accelerometers, gyroscopes, digital compasses, mems microphones, pressure sensors, temperature sensors, and others. The market is segmented based on process into deposition, lithography, etching & fabrication, and packaging. Foundry types include deposition, lithography, etching & fabrication, and packaging. End users are divided into large enterprises and SMEs, and verticals include consumer electronics, automotive, industrial, healthcare, and others.
The global MEMS foundry market is dominated by the top five players, including Silex Microsystems AB, Teledyne Dalsa, Sony Semiconductor Solutions Corporation, Taiwan Semiconductor Manufacturing Company, Limited, and X-FAB Silicon Foundries SE. The positioning of these leading players is based on various performance parameters, such as revenue, geographical presence, customer base, new product launches, market initiatives, technology investments, R&D activities, M&A deals, and other market-related activities. Besides these top players, the global report also profiles other notable MEMS foundry market players, such as Asia Pacific Microsystems, Inc., Atomica Corp., ROHM Co., Ltd., STMicroelectronics, N.V., and Koninklijke Philips N.V.
Key Findings of Market Study:
The demand for wireless sensor networks for various earth science research applications has led to the development of environmental sensor networks. These networks are now being utilized to monitor different environmental factors, including volcanoes, oceans, forests, and glaciers. They are also being installed in cities to keep a check on harmful gas concentrations. The integration of artificial intelligence-based interfaces with environmental sensors, such as temperature sensors, gas sensors, and smoke sensors, is expected to further enhance environmental protection. Moreover, the use of AI-powered environmental sensors for industrial-scale monitoring of chemical releases is beneficial for protecting environmental resources. These developments are anticipated to drive the growth of the MEMS foundry market in the forthcoming years.
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