MEMS market set for solid growth
The market for high value MEMS sensors is set to grow by 6.3% this year to £1.6billion, up from $1.5bn in 2012.
Market research firm IHS described the performance as 'commendable', especially considering the depressed state of most markets in the industrial segment.
The increase, it says, is a result of balancing forces from growing areas like oil and gas discovery, as well as the civil aerospace sector - both of which deploy MEMS inertial and pressure sensors.
By the end of the year, IHS believes test and measurement applications will make up the majority of high value MEMS sales, accounting for one quarter of industry revenue.
By 2017, the sector is expected to be worth some $2.21billion, representing a five year compound annual growth rate of 8%.
