Overview and Scope
Micro-electromechanical systems (MEMS) gyroscopes refer to miniaturized sensors that measure angular velocity or rotation rate and operate on the principle of the Coriolis effect, which causes a force to act on a mass moving in a rotating system. Due to their compact size, affordability, and minimal power consumption relative to traditional gyroscopes, MEMS gyroscopes are widely employed in various applications, including consumer electronics (e.g., smartphones, gaming controllers), automotive navigation systems, aerospace technology, and industrial instrumentation.
Sizing and Forecast
The micro-electromechanical systems (MEMS) gyroscopes market size has grown strongly in recent years. It will grow from $2.17 billion in 2023 to $2.38 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to demand for consumer electronics, growth of automotive applications, emergence of wearable devices, cost reduction.
The micro-electromechanical systems (MEMS) gyroscopes market size is expected to see strong growth in the next few years. It will grow to $3.30 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to expansion of IoT applications, growth in wearable health tech, autonomous vehicles and robotics, regularity compliance. Major trends in the forecast period include ultra-miniaturization, enhanced performance, multi-axis gyroscopes, low-power designs, sensor fusion, advanced calibration techniques.
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Segmentation & Regional Insights
The micro-electromechanical systems (MEMS) gyroscopes market covered in this report is segmented –
1) By Type: Vibrating Wheel, Tuning Fork, Foucault Pendulum, Wine Glass Resonator, Other Types
2) By Application: Mobile Devices, Cameras And Camcorders, Gaming Consoles, Other Applications
3) By End-Use Industry: Consumer Electronics, Automotive, Aerospace And Defense, Industrial, Marine, Other End Use Industries
North America was the largest region in the micro-electromechanical systems (MEMS) gyroscopes market in 2023. The regions covered in the micro-electromechanical systems (mems) gyroscopes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising production of automotive vehicles is expected to propel the growth of the micro-electromechanical systems (MEMS) gyroscope market going forward. Automotive vehicles are self-propelled vehicles designed primarily for road, street, and highway transportation. It arises because of advancements, environmental regulations, and consumer preferences. Micro-electromechanical systems gyroscopes are used for automotive vehicles to enhance rotational motion and orientation’s safety, performance, and functionality. For instance, according to the European Automobile Manufacturers Association, a Belgium-based automobile manufacturer association, the global production of motor vehicles reached 85.4 million units in 2022, reflecting a notable increase of 5.7% compared to 2021. Therefore, the rising production of automotive vehicles is driving the growth of the micro-electromechanical systems (MEMS) gyroscope market.
Key Industry Players
Major companies operating in the micro-electromechanical systems (MEMS) gyroscopes market are Robert Bosch GmbH, Panasonic Corporation, Honeywell International Inc., Texas Instruments Incorporated (TI), STMicroelectronics N.V., NXP Semiconductors, Murata Manufacturing Co. Ltd., Analog Devices Inc., Seiko Epson Corporation, Qorvo Inc., Sensata Technologies, Knowles Corporation, Xsens Technologies B.V., InvenSense, MEMSIC Inc., KIONIX Inc., Silicon Sensing Systems Ltd., Systron Donner Inertial, Tronics Microsystems, Sensonor AS, Vesper Technologies, Inc., Colibrys Ltd., MicroStrain Inc., VTI Technologies, MemsTech Co., Ltd.
The micro-electromechanical systems (mems) gyroscopes market report table of contents includes:
- Executive Summary
- Micro-Electromechanical Systems (MEMS) Gyroscopes Market Characteristics
- Micro-Electromechanical Systems (MEMS) Gyroscopes Market Trends And Strategies
- Micro-Electromechanical Systems (MEMS) Gyroscopes Market – Macro Economic Scenario
- Global Micro-Electromechanical Systems (MEMS) Gyroscopes Market Size and Growth
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- Global Micro-Electromechanical Systems (MEMS) Gyroscopes Market Competitive Benchmarking
- Global Micro-Electromechanical Systems (MEMS) Gyroscopes Market Competitive Dashboard
- Key Mergers And Acquisitions In The Micro-Electromechanical Systems (MEMS) Gyroscopes Market
- Micro-Electromechanical Systems (MEMS) Gyroscopes Market Future Outlook and Potential Analysis
- Appendix
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