The MEMS foundry market is expected to grow from US$ 764.05 million in 2022 and it is expected to grow at a CAGR of 9.7% from 2022 to 2028.
Sensors used in military and defense applications must be reliable in every aspect, as they are a critical part of devices used in defense applications, including monitoring and surveillance at borders. Systems such as drones, missiles, spacecraft, ships, satellites, and rockets require various MEMS sensors, including accelerometers and gyroscopes, to collect data for proper functioning. Several companies have developed MEMS-based defense system sensors for ballistic testing, jet engine test stands, marine propulsion systems, jet fuel analyzers, and missile guidance systems. Thus, with the growing demand for advanced security and defense systems, the need for sensors is also increasing. Moreover, MEMS-based advanced Global Positioning System (GPS) to ensure better guidance and navigation of missiles has been a major area of research for a long. Researchers have been combining radio frequency (RF) velocity and range sensors with micro-MEMS and inertial measurement units (IMUs) to achieve superior navigation accuracy. MEMS technologies are also used in chemical attack warning sensors, micro-robotic electronic disabling systems, earth mapping, etc. Such applications of MEMS are supporting the MEMS foundry market growth.
Radio-frequency MEMS (RF-MEMS) and optical MEMS are gaining significant traction in the design and development of military sensors. Low power consumption, compact size, and ultrahigh reliability of MEMS are the major factors bolstering its need in battlefield tanks, drone electronic components, hostile territory surveillance systems, unmanned air vehicles (UAVs), covert communication devices, and missiles meant to shoot down hostile targets. Furthermore, MEMS-based sensors help in monitoring the working condition of weapons and environmental parameters on battlefields. Therefore, the rising adoption of MEMS solutions in military applications is encouraging MEMS manufacturers to expand their manufacturing capabilities, thereby driving the growth of the MEMS.
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MEMS Foundry Market: Strategic Insights
Market Size Value in US$ 764.05 million in 2022 Market Size Value by US$ 1,332.55 million by 2028 Growth rate CAGR of 9.7% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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MEMS Foundry Market: Strategic Insights
| Market Size Value in | US$ 764.05 million in 2022 |
| Market Size Value by | US$ 1,332.55 million by 2028 |
| Growth rate | CAGR of 9.7% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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Impact of COVID-19 Pandemic on MEMS Growth
The US was the most affected country in Americas due to the COVID-19 pandemic. In 2020, due to the strict government regulations and lockdowns, many electronics and semiconductor manufacturers in the US operated with a limited workforce or temporarily stopped their production. This adversely affected the supply chain and the import & export of semiconductor chips and electronic products. As a result, semiconductor manufacturers were unable to meet their delivery timelines. In May 2020, Rogue Valley Microdevices Inc., a biomedical company, played a strategic role in the development of COVID-19 diagnostic tests. Thus, due to such activities by companies, the demand for MEMS increased in the healthcare industry in the Q2 of 2020. Moreover, the growth of the automotive & consumer electronics industries and the rising focus on the expansion of IoT technology bolstered the demand for MEMS. Thus, from Q1 of 2021, the supply lines of the automotive & electronics industries started to stabilize, and the revenue of these industries showcased positive momentum, which contributed to the MEMS foundry market growth in Americas.
Lucrative Regions for MEMS Foundry Market
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights – MEMS Foundry Market
Environmental sensors, such as gas sensors, temperature sensors, and smoke sensors, integrated with artificial intelligence-based interfaces are expected to aid in enhanced environmental protection. Also, AI-enabled environmental sensors are beneficial at an industrial scale for monitoring chemical releases, which would contribute to environmental resource protection. Numerous environmental sensors, including biosensors, have been introduced in the market for monitoring harmful environmental substances. Thus, the rising use of environmental sensors is likely to boost the demand for MEMS sensors, thereby creating new opportunities for the MEMS foundry market growth in the coming years.
MEMS Type-Based Insights
Based on MEMS type, the global MEMS foundry market is segmented into accelerometer, gyroscope, radio frequency devices, mems microphone, pressure sensor, temperature sensor, and others. MEMS-based radio frequency devices are estimated to be the most ordered product from MEMS foundries, followed by pressure sensor and accelerometer in 2021. An accelerometer is one of the major applications of MEMS and is used across various industries, such as consumer electronics, automotive, industrial, healthcare, aeronautics, and defense industries. Electronic devices comprise a variety of sensors for better performance of their respective operations, which is ultimately driving the demand for MEMS foundry services for the accelerometer segment.
The MEMS foundry market is segmented on the basis of MEMS type, process, foundry type, and end user. Based on MEMS type, the market is segmented into accelerometer, gyroscope, digital compass, mems microphone, pressure sensor, temperature sensor, and others. Based on process, the market is categorized into deposition, lithography, etching & fabrication, and packaging. Based on foundry type, the market is segmented into deposition, lithography, etching & fabrication, and packaging. Based on end user, the MEMS foundry market is segmented into large enterprises and SMEs. Based on vertical, the MEMS foundry market is segmented into consumer electronics, automotive, industrial, healthcare, and others.
Silex Microsystems AB; Teledyne Dalsa; Sony Semiconductor Solutions Corporation; Taiwan Semiconductor Manufacturing Company, Limited; X-FAB Silicon Foundries SE; Asia Pacific Microsystems, Inc.; Atomica Corp.; ROHM Co., Ltd.; STMicroelectronics, N.V.; and Koninklijke Philips N.V. are among the key MEMS foundry market players.
MEMS foundry market players are utilizing several strategies to focus on growth.
- In July, 2022, STMicroelectronics, a global semiconductor leader serving customers across the spectrum of electronics applications, and GlobalFoundries Inc., a global leader in feature-rich semiconductor manufacturing, announced that they have signed a Memorandum of Understanding to create a new, jointly-operated 300mm semiconductor manufacturing facility in Crolles, France.
- In April, 2022, Bosch Sensortec acquired Arioso Systems to diversify its product portfolio. Arioso Systems is one of the world’s most innovative providers of MEMS micro speaker technology. Acquisition with Bosch, it will leverage the full potential of its micro speakers.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
MEMS Type, Process, Foundry Type, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Canada, China, Germany, Israel, Japan, Sweden, Taiwan, United Kingdom, United States
Frequently Asked Questions
The estimated global market size for the MEMS foundry market in 2022 is expected to be around US$ 764.05 million
1. Rising Demand for Smart Consumer Electronics and Wearable Devices
2. Growing Applications of MEMS Sensors in Military and Defense
1. Advancements in Environmental Sensors
2. Increasing Number of MEMS-Based Product Launches
Silex Microsystems AB; Teledyne Dalsa; Sony Semiconductor Solutions Corporation; Taiwan Semiconductor Manufacturing Company, Limited; and X-FAB Silicon Foundries SE are the key market players expected to hold a major market share of MEMS foundry market in 2022
Asia & MEA is expected to register highest CAGR in the MEMS foundry market during the forecast period (2022-2028)
Taiwan, China, and US are expected to register high growth rate during the forecast period
Taiwan is expected to hold a major market share of MEMS foundry market in 2022
Others segment is expected to hold a major market share of MEMS Foundry market in 2022
The global market size of MEMS foundry market by 2028 will be around US$ 1332.55 million
The MEMS foundry market is expected to register an incremental growth value of US$ 568.50 million during the forecast period
The List of Companies - MEMS Foundry Market
- Asia Pacific Microsystems, Inc.
- Teledyne Digital Imaging Inc.
- Taiwan Semiconductor Manufacturing Co Ltd
- ROHM CO., LTD.
- Silex Microsystems
- STMicroelectronics
- X-FAB Silicon Foundries SE
- Koninklijke Philips NV
- Sony Semiconductor Solutions Corporation
- Atomica Corp
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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