MEMS Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The MEMS market is expected to reach USD 20,488.2 million in five years, registering a CAGR of 7.07% over the forecast period. The MEMS sector is witnessing rapid growth due to the increasing demand for MEMS in multiple applications, from automotive to consumer electronics.
Key HighlightsThe MEMS market comprises many large-scale vendors capable of backward and forward integration who command significant revenue generation capabilities. The intensity of competitive rivalry in the market is moderately high and is expected to increase over the coming years. Major players in the market include Broadcom Inc., Robert Bosch GMBH, StmicroelectronicsNV, Texas Instruments Inc., and Qorvo Inc.
In September 2022, Knowles Electronics LLC announced the availability of the true wireless stereo (TWS) named KN2 for the best music listening experience. KN2 incorporates a robust collection of TWS features. The product features include Qualcomm QCC5144 BT SoC with aptX Adaptive and aptX codec for low-latency HD audio that is robust and has a low bit rate. Also within the products are earbuds with multiple SiSonic MEMS microphones to enable voice call algorithms for enhanced noise-canceling performance.
In June 2022, STMicroelectronics, one of the semiconductor leaders serving customers across the spectrum of electronic applications, announced its newest FlightSense Time-of-Flight (ToF) ranging sensor for smartphone camera management and augmented/virtual reality. The VL53L8 direct Time-of-Flight (dToF) sensor is ideal for smartphones, smart speakers, human-machine interfaces, consumer LiDAR, and AR/VR/MR. The sensor combines new revolutionary metasurface lens technology with a more powerful and efficient laser and improved on-chip processing.
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