– Industry 4.0 revolution, in which machines are becoming more intelligent and intuitive, is increasing the need for the industrial applications of MEMS sensors. The new machines are to be designed to be more efficient, safe, and flexible, with the ability to autonomously monitor their performance, usage, and failure. These applications, therefore, spur the demand for highly sensitive pressure sensors.
– The increasing military spending across regions is paving the way for technologies like drones/unmanned aerial vehicles (UAVs). In addition to that, the usage of MEMS pressure sensors in traditional fighter jets with high-end navigation systems is increasing significantly.
– The spread of the COVID-19 in the Asian continent is expected to restrain the growth rate as major semiconductor manufacturing countries such as South Korea are also affected significantly. With the slowdown in the global economy, the demand for electronics products is expected to be influenced till the first half of 2021.
Key Market Trends
Automotive Application to Hold Major Share
– Sensors and Actuators are components of automotive electronic control systems. Hence, the type of sensors and actuators required are dictated by the desired control system function. With the advent of engine control systems, the need for sensors on both the input and the exhaust sides of the engine came into effect. A manifold absolute pressure (MAP) and a manifold air temperature (MAT) sensor were used to compute the density of air entering the engine.
– Tire pressure in any vehicle is a crucial factor for a comfortable ride, high mileage, long tire life, and precise braking. As a result, apart from traditional assembly line fittings applications, MEMS pressure sensors have high demand from aftermarket products, such as tire pressure monitoring systems (TPMS), etc. Moreover, the average selling price (ASP) of MEMS pressure sensors utilized in automotive applications is comparatively low.
– According to the European Federation for Transport and Environment, approximately half of all automobiles not equipped with a tire-pressure monitoring system are driven on significantly under-inflated tires. TPMS is used to provide real-time monitoring of operating pressures of the automotive tire before, during, and after typical vehicle operation/driving conditions.
– The tire-lifetime extension can be implemented via correct tire-pressure maintenance. According to Goodyear, for every 1 psi drop in tire pressure, tread life decreases by 1.78%. The Highway Traffic Safety Administration (NHTSA) estimates that if all light vehicles meet the four-tire, 25% compliance option required by the Tread-Act via TPMS, the average tire-tread life may increase by 1,150 miles.
Free Sample report for this report is available :- https://www.statzyreports.com/report/sr497315/mems-pressure-sensors-market
North America to Hold Major Share
– North America is expected to dominate the MEMS pressure sensors market owing to adoption in various sectors, such as automotive, aerospace, and many more. Also, stringent government regulations regarding passenger safety and significantly growing automotive and aerospace industries drive the market for MEMS pressure sensors in North America.
– With changing dynamics in the industry, automotive manufacturers are moving toward electric vehicle production to meet next-generation consumers’ needs. The use of electric vehicles in the United States has risen rapidly, with an estimated 1% of automotive sales in the US market. This is set to significantly augment the demand for MEMS pressure sensors designed for automotive applications.
– The region houses 8 out of 10 largest medical device companies, including Medtronic, Johnson & Johnson, GE Healthcare, Baxter, Becton Dickinson, Cardinal Health, Abbott Labs, and Stryker. With production expected to increase over the forecast period considering the demand, both domestic and across regions (China, Canada, and Mexico accounted for 26.1% of all US medical device exports in 2017), the scope for MEMS pressure sensors is significant.
– According to Cisco Systems, the number of connected wearable devices in North America grew from 38.65 million in 2015 to 217 million in 2017 and is expected to reach 439 million by 2022. The growth of the wearables market in North America is highlighted by figures that expect 25% of the adult population to be using a wearable device by 2022. MEMS pressure sensors used by smart wearable manufacturers, such as Fitbit, are making revenues as high as 61% from the United States alone.
– An increase in the production of helicopters and commercial aircraft in the United States is expected to drive the market as well. The United States exports more than 60% of all aerospace production. Many foreign firms are attracted to the US aerospace market, as it is the largest in the world, characterized by a skilled and hospitable workforce, diverse offerings, and extensive distribution systems.
The MEMS pressure sensors market is highly competitive and consists of several major players. The market is experiencing consolidation, as various players are acquiring similar businesses to expand their product portfolios. With sustainable sensors, many of the companies are increasing their market presence by securing new contracts by tapping new markets. Major players are adopting strategies like product innovation and mergers and acquisitions to expand their reach. Some of the major players in the market are Bosch Sensortec GmbH, Murata Manufacturing Co. Ltd, Infineon Technologies AG, Honeywell International Inc. among others.
– September 2020- ST unveiled its innovative High Sensitivity image sensors for in-cabin monitoring and Mirrors for low-cost LiDAR. The first wave of sensors includes the pressure sensor, the driver-side airbag, the dual front airbag, and so on. When the infotainment system emerged in cars and several more sensors were used for the non-safety application.
– June 2020- Bosch unveiled a new MEMS sensor, the SMI230, which is a highly precise sensor. The sensor constantly registers changes in the vehicleâ€™s direction and speed, evaluates the information, and transmits it to the navigation system. There, the information is combined with the positional data from the global navigation satellite system (GNSS) and used for navigation. Such innovations are expected to boost growth in adoption in the sector.
Reasons to Purchase this report:
– The market estimate (ME) sheet in Excel format
– 3 months of analyst support
For sample report please visit : https://www.statzyreports.com/report/sr497315/mems-pressure-sensors-market
Public Relations Manager
Email : firstname.lastname@example.org
Email : email@example.com
(IN) – +918484035727
(US) – +1415-871-0483
Website : www.statzyreports.com
StatzyReports is the premier global market research and business reports company based in India. StatzyReports.com functions under Statzy Market Research. We offer our expertise globally in services related to market research, business strategy consulting, surveys or questionnaire, forecast and statistical data analysis. Our experience working with major business and customer driven companies enabled us to develop some of the best winning strategies for succeeding in various global markets. Our globally renowned experts mastered the art of perfection with their unique skillset and vast experience in research and data analytics.
Statzy Market Research
204, 2nd Floor, Gauri Commercial Complex, Plot No – 19, SECTOR 11, C B D Belapur
IND400614 Navi Mumbai
Telefon: +91 (8484) 035727
Public Relations Manager
Telefon: +91 (8484) 035727