By Sensors Staff
PITTSBURGH, PA — Microelectromechanical systems (MEMS) and sensors suppliers are targeting a rapidly growing global market for their devices, key components that increase the intelligence and interactivity of billions of electronic products. Despite this unprecedented growth, suppliers face shared technical challenges that limit expansion, including energy and power management, security, integration, and machine learning. MEMS & Sensors Industry Group’s (MSIG’s) 2017 MEMS & Sensors Technical Congress® (MSTC), to be held on May 10-11, 2017 on the campus of Stanford University, offers attendees a collaborative approach to resolving these shared technical challenges.
From smart homes and smartphones to wearables, robotics, drones, and connected cars, MEMS and sensors represent huge growth areas for suppliers. Yole Développement forecasts that the MEMS industry will reach $20B by 2021, which represents 8.9% compound annual growth rate (CAGR) from 2016-2021 for the value of MEMS markets.[i] The market for sensors is growing slightly faster. In a soon-to-be-released report, BCC Research estimates that the global market for sensors will reach nearly $240.3B in 2022, with a five-year CAGR of 11.8% from 2017-2022.[ii]