LONDON Ė The worldwide market for microelectromechanical systems components (MEMS) will be worth about $11.5 billion in 2012, an increase of about 12.7 percent compared with the size of the market in 2011, according to market research firm Yole Developpement SA (Lyon, France).
"MEMS will continue to see steady, sustainable double digit growth for the next six years, with 20 percent compound average annual growth in units and 13 percent annual growth in revenues, to become a $21 billion market by 2017," said Laurent Robin, an analyst at Yole Developpement, in a statement.
Motion sensing and microfluidic MEMS, will see continued strong growth and come to make up almost half of the total market of $21.1 billion in 2017. Although the market for discrete inertial sensors will begin to decline in 2015 the growth for inertial combination sensors will more than compensate. Accelerometers, gyroscopes, magnetometers and combination sensors together will account for about 25 percent of the total in 2017, and microfluidics for 23 percent, Yole forecasts.
Combination sensors were a new and emerging product category in 2011 and the annual market is worth less than $100 million currently but Yole expects that market to be worth $1.7 billion in 2017.
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MEMS market by value for the period 2011 to 2017. Source: Yole Developpement
MEMS is having the best time it can. As mobile continues to penetrate, expect MEMS impact to continue to move forward. There are many more areas for MEMS to see growth besides the auto and mobile industries. Medical is the next opportunity and we are just starting.