Piezoelectric MEMS Market Size, Share, Growth, and Industry Analysis, By Type (Sensor, Actuator), By Application (Consumer Electronics, Industrial, Healthcare and Others) Covid-19 Impact, Latest Trends, Segmentation, Driving Factors, Restraining Factors, Key Industry Players, Regional Insights, and Forecast From 2022 To 2030

Updated On: 11 September 2023

Piezoelectric Mems Market Report Overview

• 

• Request a Free sample to learn more about this report

The global piezoelectric MEMS market size was USD 229 million in 2021 and is projected to touch USD 1,006.3 million by 2028, exhibiting a CAGR of 23.5% during the forecasting period. 

A miniature or nanoscopic device known as a piezoelectric micro electro mechanical system (MEMS) uses piezoelectricity to generate motion and carry out its functions. Utilizing an electrical potential that develops under mechanical stress, it functions as a microelectromechanical system. PiezoMEMS can be used as micropumps, sensors, switches, inkjet printer heads, and energy harvesters in a variety of applications. PiezoMEMS devices utilise the wurtzite and perovskite crystal structures and can be made using one of three main methodologies: the additive methodology, the subtractive methodology, or the integrative methodology.

Electricity is produced by hydrogen fuel cells using the hydrogen's stored energy. It is a clean form of energy because the only waste products are water, heat, and electricity. Fuel cells have several applications, including transportation and emergency backup power, and they can run systems as large as a power station or as small as a laptop. Fuel cells offer advantages over traditional combustion-based technologies, such as greater efficiency and lower pollution. Fuel cells using hydrogen only exhale water, therefore no carbon dioxide or other pollutants are released into the atmosphere. Fuel cells are also quieter when operating than combustion technologies since they have less moving parts.  

COVID-19 Impact: The Outbreak to Hamper the Market Growth

The sudden spike in CAGR is attributed to the piezoelectric MEMS market growth and demand returning to pre-pandemic levels once the pandemic is over. The global COVID-19 pandemic has been unprecedented, staggering, as the piezoelectric MEMS are experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels.

COVID-19 illness pragmatically spread in 180+ nations around the world and the World Health Organization announced it as a  well-being crisis. The after effects of the outbreak are now beginning to be perceived, and is essentially aimed to influence the piezoelectric  MEMS market share in 2020 and 2021. Noticing the aftermaths of of the pandemic on the global piezo MEMS ink-jet heads market, the report analyzes the impact from both global and regional perspectives also from the production end to consumption end in various key player regions.

LATEST TRENDS

" Increasing Advancements to Augment Growth"

With the increase in demand for smartphones, wearable technology, microphones, and speakers, MEMS sensors in conjunction with internet of things technologies are emerging at a considerable rate. The power consumption of MEMS accelerometer sensors and MEMS gyroscopes may both be greatly reduced, and as a result, the provision of functional devices—which acts as a driving force for the MEMS market is made possible. A funding of USD 26 million was given to sense Photonics in 2019 for the development of high-end sensor technology developments in micro electro mechanical devices, which is boosting the growth aspects for the MEMS industry.

Piezoelectric Mems Market Segmentation

• 

• Request a Free sample to learn more about this report

• By Type Analysis

Based on type, the piezoelectric MEMS market is subdivided into Sensor and Actuator. The leading type of the market is Sensor.

• By Application Analysis

Based on the applications, the piezoelectric MEMS market is subdivided into Consumer Electronics, Industrial, Healthcare and Others. Consumer Electronics is the leading application segment.

DRIVING FACTORS

"High Quality End Products and Low Cost Incurred to Uplift the Market Share"

 Over the past few years, there has been substantial advancement in the high-quality deposition procedures used to create piezoelectric materials with an incentive of cheap cost. It is now possible to include ferroelectric lead zirconate titanate (PZT) films and chemical solution deposition into MEMS-based transducers to battle piezoelectric materials. Additionally, researchers are still working hard to find ways to minimise and regulate optimal material use, sensor drift, and the ageing properties of thin film piezoelectrical materials.

"Technological Innovations in  Consumer Electronics to Augment the Market Demand "

Increasing implementations of Internet of Things (IOT), Virtual Reality (VR), Artificial Intelligence (AI), and Big Data Analytics, and the expansion of 4G and 5G are driving advancements in electronics technology. This event will lead to increased consumer demand in commercial, residential and industrial applications. The PiezoMEMS sensor applications such as camera autofocus, speaker, and microphone are driven by integrated technology development to drive the growth of the piezoelectric MEMS market.

RESTRAINING FACTORS

"Challenges Faced in Processing and Manufacturing to Restrain the Market Growth"

There are difficulties in manufacturing and processing piezoelectric MEMS materials. In order to produce piezoelectric materials, it is difficult to manage the stoichiometry (chemical reaction material control) and morphology (physical structure control), and precise control of the piezoelectric crystallisation process is needed. As a result, materials utilised in regularly used piezoelectric material processes frequently conflict with CMOS technology. There are still a few challenges that prevent piezo MEMS from being commercially marketed.

Piezoelectric Mems Market Regional Insights

• 

• Request a Free sample to learn more about this report

"Technological Advancements to make North America  the Leading Region "

U.S. holds the largest piezoelectric MEMS market share, with almost half share of production by North America in 2020. The market growth is enhanced corresponding to the factors such as implementation and developments of advanced technology in verticals including aerospace, healthcare, automobiles, and other sectors. The increment in the demand of rising automotive production, consumer electronics and sales in the North American region results in stimulating  piezoelectric MEMS market growth.

KEY INDUSTRY PLAYERS

"Prominent Players to Drive the Market Growth"

The report analyzes different market players in the industry. The information is published after proper research, analysis of trends, key developments, the introduction of new initiatives, and technological developments and innovations. Other aspects of the report include a study on the companies, regions, automation, technological developments, and the impact of newly emerging industries along with their risks. The facts in the report may be subject to change, given the situation of market players from time to time.

List of Market Players Profiled

• Bosch (Germany)
• STMicroelectronics (Switzerland)
• ROHM (U.S.)

INDUSTRY DEVELOPMENT

March 2019: The company, to be named Vesper, has signed an agreement with Unisem to develop and manufacture a large number of Vesper piezoelectric MEMS microphones at scale. The company will enable Vesper to effectively manufacture and ship millions of units.

January 2020: Hyundai Motor Company and Kia Motors Corporation invested USD 110 million to develop an electric commercial vehicle in partnership with Arrival Limited.

REPORT COVERAGE

The report examines elements affecting the demand and supply sides and estimates dynamic market forces for the forecast period. The report offers drivers, restraints, and future trends. After evaluating governmental, financial, and technical market factors, the report provides exhaustive PEST and SWOT analysis for regions. The research is subject to alteration if the key players and probable analysis of market dynamics change. The information is an approximate estimate of the factors mentioned, taken into consideration after thorough research.