The Global piezoelectric MEMS sensor market is forecast to reach $1.9 billion by 2026, growing at a CAGR of 4.5% from 2021 to 2026. The market growth is attributed to its growing applications along verticals including consumer electronics, automotive, healthcare, telecommunication, aerospace, oil& gas and others. Moreover real time monitoring data requirement by industries to make their work efficient, flexible, accurate and cost savings contributes to the market growth of piezoelectric MEMS sensor. The piezoMEMS based inertial sensors are widely used in automotive for ABS, electronic stability control and so on. Rising stringency in safety regulations and declining components cost will drive the penetration of advanced safety systems based on acoustic emission and piezoelectric transducers in economy class of vehicles. Additionally, growing implementation of Industry 4.0 is driving the demand for various types of sensors including MEMS resonators and sensors in machine condition monitoring, predictive maintenance, digital twins and other applications. The development of MEMS based inertial sensors that can withstand harsh industrial environment is thereby witnessing significant R&D to up bring the successful products. Moreover the launch of Bulk Acoustic Wave (BAW) MEMS technology based gyroscope sensor by Qualtre Inc., that are suitable for various applications such as precision robotics, platform stabilization, precision agriculture and so on is boosting the growth of the MEMS market.
Piezoelectric MEMS Sensor Market Segment Analysis – By Energy Source type
Piezoelectric MEMS sensor market is segmented into mechanical, electromagnetic, thermal, chemical, and optical on the basis of energy source type. The optical energy source type segment is anticipated to hold the highest market share during 2020 at 24% share. The market growth is attributed to factors such as small size, light weight, electrically passive operation, high sensitivity, and resistance to electromagnetic interference and corrosion and others. In January 2019, premium motion sensor was launched by TDK for optical and computational image balance solicitations. The new 6-axis motion sensor InvenSense CORONA ICM-42622 offers unprecedented sensor efficiency for improved 4-axis optical and computational stabilisation strategies for still images and film. Such product launches and benefits of optical piezoelectric MEMS leads to rise in demand thereby propelling the market growth.
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Piezoelectric MEMS Sensor Market Segment Analysis – By End User type
Consumer Electronics segment held the highest market share of piezoelectric MEMS sensor in 2020 at 36.2%. Moreover, it is anticipated to witness the significant market growth during the forecast period 2021-2026. The market growth is due to its various applications such as microphone for smartphone and smart home applications, Inkjet print heads, micro mirror for LIDAR and projectors. In addition to it, smart mirrors for EUV lithography, microfluidic pumps and valves, ultrasound transducers (PMUT), RF-switches, energy harvesters, energy storages, fingerprint sensors, micro speaker, and others are some of its applications. Piezoelectricity, next to electrostatic or magnetic actuation is one of the key actuation pathways in MEMS systems. Piezoelectric actuation enables low voltages and function with low electricity, durable mechanical architecture. Moreover the sensing features can be easily added. Consequently with the rising development in the miniaturisation of electronic devices and ICs, the industry is seeing a growth in the use of piezoelectric MEMS sensors thereby enhancing the market growth.
Piezoelectric MEMS Sensor Market Segment Analysis – By Geography
North America held the highest market share of the piezoelectric MEMS sensor market in 2020 at 37.5%. The market growth is attributed to the factors such as developments and implementation of advanced technology in verticals including automobiles, healthcare, aerospace and others. Moreover growth in demand of consumer electronics and rising automotive production and sales in this region results in enhancement of the market for piezoelectric MEMS sensor. However, APAC region is anticipated to observe the significant market growth during the forecast period 2021-2026. The market growth is attributable to factors including rapid industrialization, substantial investments in infrastructure leading to growth of automotive. Additionally, increasing investment in research and development of vehicle electrification-related systems tends to foster the market growth. Moreover Increasing mobile usage, advances in the portable electronics industry, expanded Internet of Things (IoT) awareness and high competition in the automation field also leverages a positive impact on the market growth of piezoelectric MEMS sensor. For instance, in January 2020, an investment of US $110 million was made by Hyundai Motor Company and Kia Motors Corporation in a partnership with Arrival limited for the development of electric commercial vehicles. Thus such investments and partnerships benefits the market growth.
Piezoelectric MEMS Sensor Market Drivers
Technological advancements in Consumer electronics and its growing demand
Growing implementation of artificial intelligence (AI), internet of things (IOT), virtual reality (VR), big data analytics in tandem with the introduction of 4 G and emerging 5 G and others are fueling advancements in electronic technology. This leads to increase in customers demand along residential, commercial as well as industrial applications. Piezoelectric MEMS sensor applications including microphones, speakers, camera auto-focus coupled with the technical developments are fueling the market growth.
Increasing advancement related to low power consumption and high performance in MEMS sensors
MEMS sensors in integration with IoT technologies are growing at a significant rate with rising demand for microphones, speakers, smartphones, and wearable devices. MEMS Accelerometer sensors can lower power consumption significantly, and MEMS gyroscopes enhance device functionality thereby helping in the provision of efficient devices and acting as driving factor for the MEMS market. In June 2019, Sense Photonics, a sensor manufacturing company has received a funding of $26m for the development of high-end sensor technologies in micro electromechanical devices is adding to be one of the growth factors for MEMS market.
Piezoelectric MEMS Sensor Market Challenges
The costs of designing and installing devices may be very large for limited quantities. MEMS is also not ideal for specialized applications if costs aren’t a concern. Thus cost factor plays matters a lot for the market growth.
Piezoelectric MEMS Sensor Market Landscape
Partnerships and acquisitions along with product launches are the key strategies adopted by the players in the piezoelectric MEMS sensor market. As of 2020, the market for piezoelectric MEMS sensor market is consolidated with the top players including STMicroelectronics N. V., MegaChips Corporation., AMS AG, Robert Bosch GmbH, InvenSense Inc., Panasonic, Canon, Seiko Epson Corporation, Infineon Technologies, Knowles, Denso, Avago Technologies and among others.
In March 2019, Vesper entered into an agreement with Unisem to develop and assemble significant quantities of Vesper piezoelectric MEMS microphones at scale. The Collaboration will allow Vesper to manufacture and supply millions of units efficiently.In February 2019 TDK purchased Chirp Microsystems to overhaul TDK’s current products for fingerprint sensors, MEMS sensors and product lines for piezoelectric transducer. TDK aims at being the industry pioneer in ultrasonic MEMS sensors and solutions.
Deployment of piezoelectric MEMS sensor in the automotive vertical including tire pressure, oil pressure, fuel pressure, air flow and others propels the market growth.
Deployment of piezoelectric MEMS sensor in the healthcare vertical including medical facilities and equipment such as CT scan, X-ray machines, ECG and others boosts the market growth.APAC region is expected to dominate the global piezoelectric MEMS sensor market during the forecast period 2021-2026.
The market growth is due to the growing automotive vertical, increasing demand of consumer electronics, development in healthcare vertical and others. This leverages a positive impact on piezoelectric MEMS sensor market.
A. MEMS Market
B. Piezoelectric Sensor Market
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