MEMS Pressure Sensors Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)
The MEMS pressure sensors market will register a CAGR of 6.20% during the forecast period. Industrial automation and demand for miniaturized consumer devices across regions, such as wearables and IoT-connected devices, are among the significant factors driving the MEMS pressure sensors market.
Key HighlightsThe MEMS pressure sensor market comprises many large-scale vendors capable of both backward and forward integration and commands significant revenue generation capabilities. The market is relatively consolidated, and vendors are increasingly spending on R&D to gain technological capabilities and a competitive edge over other companies. The vendors in the market are competing on technology and quality but not on price. The intensity of competitive rivalry in the market is moderately high and is expected to increase over the coming years.
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