Mems Pressure Sensors Market Size, Share, Industry Trends and Forecast to 2030

Mems Pressure Sensors Market Size & CAGR in 2021

The global MEMS pressure sensors market is expected to witness a steady growth rate with a CAGR of 5.2% in 2021. This growth is primarily attributed to the increasing demand for MEMS pressure sensors in various industries such as automotive, healthcare, consumer electronics, and industrial applications. The market size for MEMS pressure sensors in 2021 is estimated to be around USD 2.5 billion.

COVID-19 Impact on the MEMS Pressure Sensors Market

The COVID-19 pandemic has significantly impacted the MEMS pressure sensors market in 2021. The global supply chain disruptions, restrictions on manufacturing operations, and reduced consumer demand have led to a decline in the sales of MEMS pressure sensors. However, with the gradual recovery of the economy and the resumption of industrial activities, the market is expected to witness a rebound in the coming years.

MEMS Pressure Sensors Dynamics

The MEMS pressure sensors market is driven by the growing adoption of smart devices, increasing focus on IoT-enabled solutions, and rising demand for wearable electronics. The integration of MEMS pressure sensors in smartphones, tablets, and smartwatches for various applications such as altitude detection, air pressure monitoring, and weather forecasting is fueling market growth. Additionally, the automotive industry's transition towards electric vehicles and autonomous driving technologies is also driving the demand for MEMS pressure sensors.

Segments and Related Analysis

The MEMS pressure sensors market can be segmented based on technology, application, and end-user industry. The key technologies include piezoresistive, capacitive, resonant, and thermal MEMS pressure sensors. The major applications of MEMS pressure sensors include automotive, healthcare, consumer electronics, aerospace, and industrial. The automotive industry is the largest end-user of MEMS pressure sensors due to the increasing deployment of advanced driver assistance systems (ADAS) and tire pressure monitoring systems (TPMS).

By Region Analysis

In terms of regional analysis, North America and Europe are the prominent regions in the MEMS pressure sensors market due to the presence of key market players and the high adoption of advanced sensor technologies in industries. The Asia-Pacific region is also witnessing significant growth in the MEMS pressure sensors market, driven by the increasing demand for smart devices and IoT solutions in countries like China, Japan, and India.

Key Market Players and Competitive Landscape

The key players in the MEMS pressure sensors market include Bosch Sensortec, STMicroelectronics, Honeywell International Inc., Sensata Technologies, and NXP Semiconductors. These companies are focusing on research and development activities to introduce innovative MEMS pressure sensor solutions for various applications. The competitive landscape of the market is characterized by mergers, acquisitions, and collaborations among key players to strengthen their market position.

Recent Happenings in the MEMS Pressure Sensors Market

In recent developments, Bosch Sensortec launched a new ultra-low-power MEMS pressure sensor for wearables and IoT devices. STMicroelectronics introduced a high-accuracy MEMS pressure sensor for automotive applications. Honeywell International Inc. announced a partnership with a leading automotive manufacturer to supply MEMS pressure sensors for in-vehicle systems. These developments highlight the growing importance of MEMS pressure sensors in various industries and the continuous innovation in sensor technologies.