Demand driven by growing penetration of IoT and high usage of MEMS technology in medical devices
India Microelectromechanical Systems (MEMS) market is anticipated to witness significant CAGR during the forecast period to FY 2027 on account of thriving healthcare, automation and consumer electronics industry, according to a ResearchAndMarkets report.
The country is witnessing increasing adoption of consumer electronic devices like wearable devices, tablets, and smart phones, which require MEMS technology, says the report “India Microelectromechanical Systems (MEMS) Market, By Product Type, By Material (Silicon, Polymers, Metals, Ceramics), By Application (Consumer Electronics, Automotive, Others), By Region, Forecast & Opportunities, FY2027”.
It was made available on 7 Mar 2022.
Moreover, growing penetration of Internet of Things (IoT) and high usage of MEMS technology in medical devices like respiratory disorder diagnostic equipment and laparoscopic devices are some key factors propelling the growth of India Microelectromechanical Systems (MEMS) market.
Also, with increasing adoption of MEMS technology in automotive vertical for vehicle security and airbag systems, the market is poised to grow further in the coming years.
Microelectromechanical Systems (MEMS) technologies poses the ability to communicate easily with semiconductor chips. This is why, there is a shift in focus of electronics industry from traditional sensors to MEMS technology.
Additionally, this technology is also finding increasing application in sensor manufacturing owing to their low power consumption, high precision and small size. Manufacturers are introducing new MEMS-based sensors for various applications to increase their market share in India.
India Microelectromechanical Systems (MEMS) market can be segmented based on product type, material, application, and region. Based on application, the market is segmented into consumer electronics, automotive, industrial, aerospace & defense, healthcare, telecommunication and others.
Among them, the inertial combo sensors are anticipated to possess high demand during the forecast period owing to their growing demand from automotive sector. They are highly used in devices like accelerometer, gyroscope and magnetometer.
Leading market players are undertaking growth strategies like expansion of product portfolio and mergers and acquisitions, said the report.
Major companies operating in India Microelectromechanical Systems (MEMS) market include:
Panasonic India Pvt Ltd,
Honeywell International India Pvt Ltd,
GE India Industrial Pvt Ltd,
STMicroelectronics Pvt Ltd,
Analog Devices India Pvt Ltd,
Murata Electronics (India) Ltd,
NXP Semiconductors India Private Limited,
Denso India Ltd,
Bosch Limited. fiinews.com
