The market has witnessed considerable growth in the consumer, automotive, and industrial sectors.
New analysis from Frost & Sullivan (sensors.frost.com), Analysis of the Southeast Asian MEMS Sensors Market, finds that the market earned revenues of over $57.5 million in 2008 and is forecasted to grow at a compound annual growth rate (CAGR) of 11.6 percent reaching $127.1 million in 2015. The automotive and consumer end-user segments continue to remain as the major revenue generators for the MEMS sensors market due to the myriad applications that are available in these two segments.
Due to the global economic crisis, there is an urgent need for end users to review their investments in sensors. MEMS technology has evolved to a significant extent where end-user industries such as medical, industrial, and aerospace and defense have started using MEMS sensors due to their small size, low cost, and high reliability.
"Supported by their multiple advantages, MEMS sensors have emerged as strong contenders to traditional sensors," says Frost & Sullivan Research Analyst Sriram Venkatasubramanian. "Despite the fall in demand for MEMS sensors in the short-term, the current economic crisis could be a blessing in disguise for the long-term growth of these devices in the Southeast Asian (SEA) region."
The major challenges for the industry in the SEA region are pricing pressure, packaging, and product differentiation. The market is anticipated to experience a steep fall in demand in 2009, due to the decrease in the demand from major end-user segments.
However, Association of Southeast Asian Nations (ASEAN) countries are expected to move up the value chain for the MEMS industry in the future. These countries are now evolving in terms of skilled manpower, boosting the MEMS industry. This implies lower cost investments for companies in terms of labor outlays as against the North American or European region.
"Universities and research institutions are raising the quality of education and infrastructure for research facilities," concludes Venkatasubramanian.
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Analysis of the Southeast Asian MEMS Sensors Market is part of the Sensors & Instrumentation Growth Partnership Services program, which also includes research in the following markets: SEA Analysis of Sensor Applications in Consumer Electronics, Global Sensors Outlook, World Pressure Sensors and Transmitters Market. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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Analysis of the Southeast Asian MEMS Sensors Market / P24B