Semiconductors And Electronics Research

The global  microelectromechanical systems (MEMS) market  is estimated to reach USD 28.84 billion by 2024, according to a new report by Grand View Research, Inc. The industry is expected to witness tremendous growth owing to increasing demand in consumer and automotive application segment. The market for MEMS technology is gaining traction in automotive sector with increasing concerns for passenger safety and regulatory norms. MEMS devices such as pressure sensors, accelerometers, and others are used in cars for air bags, tire pressure monitoring, electronic stability control, and other safety features. Growing popularity of wearable devices is anticipated to be key driver for the industry over the next seven years. Advancement in technology such as sensor fusion is expected to boost industry growth over the forecast period. Technology advancement has led to reduction in size of the devices, making it cost-effective, efficient, and compatible at the same time. Ca...