Revenue for so-called high-value microelectromechanical systems (MEMS) is expected to grow rapidly in the coming years, as a result of socio-environmental issues, such as global warming and aging populations, according to market research firm iSuppli Corp.
High-value MEMS revenue is projected to grow nearly 29.7% in 2010, reaching $1.6 billion, with the number of MEMs units shipped projected to reach 103 million units this year, up from about 86.8 million in 2009, the firm said.
MEMS technology, which are systems which feed off small sensors and actuators, are finding an increased presence in industrial, medical, energy, optical telecom and aerospace-defense segments.
According to iSupplis five-year forecast, high-value MEMS revenues will hit an estimated $2.6 billion in 2014.
The rapid growth of high-value MEMS is being driven by global trends that highlight the unique value proposition that the tiny devices bring to countless applications, said Richard Dixon, senior analyst at iSuppli. For instance, MEMS microvalves, pressure sensors and flow sensors are used to help reduce energy consumption in industrial processes, residential heating and transportation systems.
Within the high-value MEMS market, industrial applications such as building automation and semiconductor manufacturing dominate, accounting for approximately 56% of overall high-value MEMS revenues projected for 2010, according to iSuppli. Medical electronics are in second place, followed by aerospace-defense in third and wired communications in fourth.