Global MEMS Packaging Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The global MEMS packaging market is projected to grow at a CAGR of 17.8% during the forecast period (2022- 2027). Owing to the increase in global demand for smart automotive solutions, the need for the MEMS packaging market is expected to go up. The increasing demand for connected devices and consumer electronics is expected to drive the market for sensors. Additionally, the global industrial sensor usage is soaring due to the ever-increasing applications of sensors, driving the demand for MEMs devices.
Key HighlightsThe MEMS packaging market is moderately competitive. As the industry is capital intensive, major vendors in the market are banking on diverse product portfolios and product development to gain an edge. The innovation capabilities of the vendors are highly dependent on their R&D investments. Additionally, the industry's capital-intensive nature poses an entry barrier to new entrants. Some key players operating in the market are ChipMos Technologies Inc., AAC Technologies, Bosch Sensortec GmbH, Infineon Technologies AG, and Analog Devices, Inc., among others.
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