A segment of the microelectromechanical system (MEMS) market, which goes by the name of “new MEMS” will see a huge growth spurt of 157.4 percent this year.
According to IHS iSuppli, the growth in this market, which is specifically for consumer electronics and mobile handsets, will help the whole of the MEMS industry to grow. And it’s all about the money – predictions that revenue this year, for new consumer electronic and mobile MEMS devices will reach $457.3 million, a huge jump from the $177.6 million total in 2010.
Although the new MEMS category, which caters for devices such as 3-axis gyroscopes and pico projectors, did not even exist until 2007, it has grown at a rapid pace. By 2014, it’s thought that new MEMS will generate revenue of $1.4 billion.
The reason why this technology has done so well is because it’s right at the heart of many upcoming technologies, from motion controlled video games, tablet navigation systems, and tiny projectors embedded in smart phones.
“This is driving fast revenue growth both for the new MEMS themselves and for the overall MEMS market,” the company said.
By contrast, “old MEMS” is predicted to grow by just 10.4 percent this year.
That said, with older products such as accelerometers and single- or dual-axis gyroscopes in its stable, established MEMS will continue to produce a bigger revenue overall.
Meanwhile, expansion rates for new consumer electronics and mobile MEMS will accumulate to 31 to 62 percent from 2012 to 2014.
By 2014 it is also thought this new segment will account for 39.5 percent of the overall revenue, which is a huge step up from its 0.2 percent share in 2007 when the segment only earned $2.4 million.