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Research and Markets has announced the addition of the "Global MEMS Market 2015-2019" report to their offering.
Microelectromechanical Systems, commonly known as MEMS, are made up of several nano-electromechanical components embedded in semiconductor chips. They contains micro-circuits upon which small sensors and other components are placed upon. MEMS devices are increasingly being adopted across several sectors because of their higher efficiency rates and low costs. The Global MEMS market has a huge potential to grow as the rate of applications in several sectors such as Automotive, Consumer Electronics, Aerospace and Defense, Healthcare, and Industrial is high.
The increasing number of new applications in MEMS is one major trend upcoming in the market. Consumers are increasingly demanding smart devices such as fitness and health devices, smartwatches, and GPS-enabled devices, which have increased the demand for MEMS devices.
According to the report, increased demand for MEMS pressure sensors in the automotive segment is one of the major growth drivers. The major applications of MEMS pressure sensors in the automotive segment are the monitoring of air pressure in engines, tire pressure systems, and transmission system pressure.
Further, the report states that intense competition among vendors is one of the major challenges and is forcing vendors to provide MEMS devices at low prices. This is directly affecting their respective revenues and the growth of the market.
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