MEMS Market To See Rapid Growth (ADI)

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September 7, 2010 5:46 PM EDT

According to a report from the research firm iSuppli, the market for high-value Microelectromechanical Systems (MEMS) is set for rapid growth in a number of diverse segments in the next five years.

The high-values applications of MEMS devices include industry, medical, energy, optical telecommunications, and aerospace and defense, which accounted for 20 percent of the MEMS market in 2009.

The market for high-value MEMS devices will jump 16.8 percent per year from $1.2 billion in 2009 to $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. MEMS sensors and actuators also play an important role in less invasive monitoring procedures for patients and elderly people, while increasing the efficiency and comfort of drug delivery."

The report also said that growth of MEMS devices is seeing a boost from China and other emerging markets, driving growth in industry, wired communications, and aerospace and defense.

"In China, fiber deployments in the country are helping stimulate the overall global optical MEMS market for telecommunications," said Dixon.

The top supply chain for MEMS production include companies like Analog Devices Inc. (NYSE: ADI), Freescale Semiconductor, VTI Technologies and Omron Corp, according to iSuppli. The top 20 suppliers in the MEMS market account for 79 percent of the total revenue in the sector.