MEMS Pressure Sensors Market Analysis | 2023-2028

Market Insights

“The MEMS pressure sensors market was estimated at USD 2.1 billion in 2022 and is likely to grow at an impressive CAGR of 5.4% during 2023-2028 to reach USD 2.8 billion in 2028.”

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Market Dynamics

Introduction

MEMS stands for Micro Electromechanical Systems. A MEMS pressure sensor is a type of sensor that is used to measure the pressure of gases or liquids. It is made up of tiny, microscopic structures that are etched or fabricated onto a silicon wafer using microfabrication techniques. The pressure sensor consists of a diaphragm that deflects in response to the pressure applied, and this deflection is detected and converted into an electrical signal that can be measured and processed by the sensor electronics.

MEMS pressure sensors play a vital role in aerospace, automotive, medical, and consumer electronics. New trends in MEMS pressure sensors include higher sensitivity, higher accuracy, better multifunctionality, smaller chip size, and smaller package size. The demand for performance upgrades has led to breakthroughs in sensor materials, design, fabrication, and packaging methods, which have emerged frequently in recent decades.

The demand for MEMS pressure sensors is growing rapidly owing to continuous development in digitalization, automation, industrial IoT, and the need for monitoring and control applications. MEMS pressure sensors are an intrinsic part of smart systems that require real-time data to make automated decisions. For instance, they are used in the healthcare industry to monitor patient’s vital signs with great precision. Similarly, in the automotive industry, they are used to monitor tire pressure, engine performance, and cabin comfort. In the industrial sectors, MEMS pressure sensors are used in predictive maintenance, process control, and environmental monitoring to ensure smooth operations and to address any deviation promptly.

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Recent Market JVs and Acquisitions:

• In 2019, TE Connectivity acquired Silicon Microstructures Inc. (SMI) from Elmos Semiconductor AG. Silicon Microstructures has a line of low and medium MEMS-based pressure sensors in digital and analog versions. The acquisition will enable TE to expand its global presence in pressure sensors, particularly in medical, transportation, and industrial applications.
• In 2019, Custom Control Sensors, LLC (CCS) acquired the aerospace MEMS pressure control assets and technology from Pinnacle Sensors INC. (PSI). PSI has been a key MEMS sensor component supplier of CCS for the Hydraulic Filter Differential Pressure Transducers for the COMAC C919 Aircraft Program and the Power Drive Unit Absolute Pressure Transducers for the IRKUT MC-21 Program.
• In 2022, Melexis launched a new series of PCB-less pressure sensor ICs that deliver the highest degree of accuracy over a lifetime These are designed for use in automobile engine management systems. The MLX90824 calculates absolute pressure before delivering a digital output signal through the SENT protocol, while the MLX90822 offers an analog result voltage. These devices measure pressure ranges from 1 to 4 bar.
• In 2022, STMicroelectronics introduced its third generation of MEMS sensors. The product range includes LPS22DF and waterproof LPS28DFW barometric pressure sensors, which operate from 1.7µA and have an absolute pressure accuracy of 0.5hPa.

Key Players

The market is moderately concentrated with the presence of over 50 players across the globe. Most of the major players compete in some of the governing factors including price, service offerings, regional presence, product innovation, etc. Developing advanced product and formation of contracts with OEMs are the key strategies adopted by the market players to gain a competitive edge in the market. Also, there have been some major mergers and acquisitions in the industry in recent years, which have had a substantial impact on the entire competitive landscape. The following are the key players in the MEMS pressure sensors market:

Here is the list of the Top Players (Based on Dominance)

• Robert Bosch GmbH
• TE Connectivity
• Infineon Technologies
• Sensata Technologies
• NXP Semiconductors
• Amphenol Corporation
• Honeywell International Inc.
• HP Development Company, L.P.

Note: The above list does not necessarily include all the top players of the market.

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Segments Analysis

By Type

“Wired MEMS Pressure Sensors is likely to remain the larger segment of the market during the forecast period.”

• We have segmented the MEMS pressure sensors market based on type as Wired and Wireless Pressure Sensors.
• Wired pressure sensors are generally considered more reliable than wireless sensors because they have a direct, physical connection to the measuring equipment. This eliminates the potential for signal interference, data loss, or other communication problems that can occur with wireless sensors.
• Wireless pressure sensors witness faster growth during the forecast period driven by their growing acceptance in harsh operating environments.

By End-Use Industry Type

“Automotive is expected to remain the dominant end-use industry type, whereas the healthcare industry is expected to be the fastest-growing segment in the foreseen future.”

• Based on end-use industry type, the market is classified as consumer electronics, industrial, automotive, healthcare, and others.
• Automotive held the leading position in the market in 2022 and is expected to maintain its dominance during the forecast period. MEMS are widely used in the automotive industry some of the key applications are tire pressure sensors, corrosion sensors, exhaust gas sensors, microphones for noise cancellations, accelerometers for airbag deployment, GPS and inertial navigation systems, fuel injector pressure sensors, air conditioning pressure sensor, mass air flow pressure sensor, accelerometer for suspension control, and brake pressure sensor and control.
• The healthcare industry is expected to witness the highest growth driven by wide usage in different applications including medical ventilators, oxygen therapy systems, hyperbaric therapy, drug delivery systems, and blood pressure sensing.

Regional Insights

“Asia-Pacific is likely to remain the largest and fastest growing market for MEMS pressure sensors during the forecast period.”

• China is the largest market for MEMS pressure sensors not only in Asia-Pacific but globally as well. China has a huge dominance in the global automotive (including EVs) and consumer electronics industry. Increasing penetration of MEMS in automotive and consumer electronics is the prime factor behind the dominance of the Asia-Pacific region.
• North America and Europe are the second-largest and third-largest markets. The USA drives the North American market whereas Germany, France, and the UK are the major markets in Europe.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s MEMS pressure sensors market realities and future market possibilities for the forecast period. 
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market, covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The MEMS pressure sensors market is segmented into the following categories:

By Type

• Wired MEMS Pressure Sensors
• Wireless MEMS Pressure Sensors

By End-Use Industry Type

• Consumer Electronics
• Industrial
• Automotive
• Healthcare
• Others

By Region

• North America (Country Analysis: The USA and Rest of North America)
• Europe (Country Analysis: Germany, France, The UK, and Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, and Rest of Asia-Pacific)
• Rest of the World

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com