MEMS to be $8bn industry

Despite a slump in 2012 and 2013, market research firm IC Insights says the total MEMS market is on course to grow 14% this year and 16% in 2015, reaching $9.2bn. In the last 10 years, total MEMS sales have been held back by roller-coaster growth rates in the actuator category, but helped by more consistent growth in the sensor market. In its 2013-2018 forecast period, IC Insights says both MEMS sensor and actuator sales will rise by a CAGR of about 12%. "The challenge for MEMS sensors will be coming off extremely high growth rates in the past five years, which were mostly concentrated in a few major applications, such as smartphones and interactive video games, along with steady increases in automotive electronics," said the firm in a statement. While overall annual unit growth rates are expected to be lower in the next five years, the expectation is that shipments of MEMS based sensors will be driven by a much wider range of system applications, including consumer electronics, portable products, wearable systems, handheld test and instrument equipment, and personal medical devices.