Market research firm Databeans forecasts the sensors and MEMs market to reach $19.1 billion by 2016 with a 10% compound annual growth rate. Driven by strong growth trends in consumer and automotive applications, the consumer segment is forecasted to increase to $853 million by the end of 2012 and automotive to $203 million. Different forces are impacting the growth in the two market segments.
In automotive, U.S. regulations requiring Electronic Stability Systems (ESC) and Tire Pressure Monitoring Systems (TPMS) in every production vehicle provide a guaranteed increase. However, other systems such as powertrain also require increased sensors as well.
For consumer applications, growing demand for smart phones and tablet PCs that have gyroscopes, accelerometers, touch sensors, GPS, and magnetic field sensors has made consumer the largest market for sensors.
For more information about Databeans market tracker report “Q3-2011 Sensors and MEMS”, click here.
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