After a tumultuous 2023, the microelectromechanical systems (MEMS) sector returned to growth in 2024 with total revenue climbing to $15.4 billion, up 5% year-over-year, with 31 billion units shipped, according to a new report from Yole Group.
By 2030, Yole Group forecasts the MEMS market to grow to $19.2 billion, managing a compound annual growth rate (CAGR) of 3.7%.
In 2024, Bosch remained the MEMS leader with $2 billion in revenue and a 12% year-over-year increase. Bosch’s position in high-end systems was less affected during the oversupply situation from 2023 and benefited the most from inventory crisis in 2024, Yole said.
“After a challenging correction cycle, MEMS companies have emerged more resilient and strategically aligned,” said Clyde Midelet, senior technology and market analyst for sensing at Yole Group. “MEMS leaders are leveraging diversified portfolios, smart sensing technologies, and targeted market focus to secure their positions.”
In 2024, Broadcom and Qorvo held second and third place, respectively. Broadcom, however, stagnated during the year as OEMs moved from its FBAR RF technology. For example, Yole Group found Samsung began using high-performance SAW while Apple continues to use FBAR in its iPhones.
Qorvo’s BAW-SMR filters are still going strong with OEMs like Samsung, Oppo, Apple and Xiaomi, Yole Group said.
TDK was the fourth place MEMS company with its motion sensors used in consumer electronics and wearables.
China’s expanding MEMS position
According to Yole Group, driven by state funding and semiconductor self-sufficiency due to rising export restrictions, the Chinese MEMS sector is expanding rapidly.
Additional growth in this region is coming from fierce price competition, questions over sustainability and triggered from the oversupply situation in 2023.
“The MEMS industry is on the rise,” said Pierre-Marie Visse, senior technology and market analyst for MEMS and sensing at Yole Group. “Success depends on innovation, market opportunities and the strength of the surrounding ecosystem.”
