MEMS technology is used in the fabrication of inertial sensors, and particularly accelerometers. MEMS accelerometers are used in diverse markets that implement the digital economy. The reason for their success is low price, small size, high reliability, and low power consumption.
MEMS accelerometers are replacing traditional electro-mechanical accelerometers because they offer tactical grade performance. They provide the functionality required to measure motion in three-dimensional space. Digital signal processors calibrates the sensors during run time. They intelligently convert raw sensor data from multiple sensors. The output from MEMS sensors creates application-specific data.
The total value of the MEMS sensor market is $12.5 billion in 2017, up from $10.35 billion in 2016. Markets grow to $58.7 billion in 2024. Growth is a result of the implementation of the digital economy, IoT, robots, drones, self-driving cars, and artificial intelligence. The digital economy rides on the back of MEMS sensors.
This is the new world aspect, everything is monitored and activated digitally.
The study is designed to give a comprehensive overview of the MEMS market segment. Research represents a selection from the mountains of data available of the most relevant and cogent market materials, with selections made by the most senior analysts. Commentary on every aspect of the market from independent analysts creates an independent perspective in the evaluation of the market. In this manner the study presents a comprehensive overview of what is going on in this market, assisting managers with designing market strategies likely to succeed.
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