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MEMS Foundry Outsourcing Market Will Reach USD 1,804.8 Million By 2030
The value of the MEMS foundry outsourcing market stood at USD 925.7 million in 2023, and this number is projected to reach USD 1,804.8 million by 2030, advancing at a CAGR of 10.2% during the projection period. The development of this market can be primarily credited to the growth of the fabless business model.
Furthermore, the continuously declining average selling cost, the development of new applications of microelectromechanical systems, and the thriving adoption of 300-mm MEMSs will fuel the market income in the years to come.
The need for consumer electronics, such as smartphones, tablets, and headphones has constantly grown since the pandemic. This is due to the surge in the work-from-home trend and the rise in the usage of indoor entertainment devices. Furthermore, individuals are quickly accepting new and developing products, such as automotive electronics, wearable medical devices, video game consoles, and voice-activated smart speakers.
According to the National Highway Traffic Safety Administration (NHTSA), a projected 31,785 people died because of road traffic accidents in the first 9 months of 2022 in the U.S. Furthermore, according to the WHO, road traffic wounds are the key reasons for mortality for young adults and children between 10 and 29 years of age. Thus, the growing worry of customers about vehicle security and well-being has directed to a growing requirement for semi-autonomous and full automobiles.
On the basis of the business model, a significant share of the industry is accounted for by the IDM Mixed Mode category. Several IDMs have entered the outsourcing of MEMS foundry services due to the persistent decline in ASPs for microelectromechanical systems.
Furthermore, since they have more expertise in the design of microelectromechanical systems, integrated device producers such as IDM provide a stronger competitive advantage compared to fabless and FAB players. Furthermore, IDMs get benefits from the economies of scale, particularly from application-specific integrated circuit MEMS.
In Asia, Taiwan is a leader in the outsourcing of MEMS components. As a result of the rising demand for microelectronics in applications such as cars or consumer electronics, major chipmaking facilities in this country have increased their output. On the contrary, United Microelectronics Corporation announced its intention to build a new production plant in Singapore as early as February 2022 and is expected to market 22nm/28nm chips.
Additionally, China has experienced substantial development in the microsystem and semiconductor manufacturing infrastructure, primarily due to the development of the consumer and automotive electronics sectors. Furthermore, the growing export of semiconductor and microsystem-enabled items, such as tablets, smartphones, and drones, is boosting MEMS production in the nation
Read More: https://www.psmarketresearch.c....om/market-analysis/m
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