The MEMS Technology market is expected to reach USD 20,488.2 million in five years, registering a CAGR of 7.07% over the forecast period. The MEMS sector is witnessing rapid growth due to the increasing demand for MEMS in multiple applications, from automotive to consumer electronics. The market numbers stated in the study indicate MEMS in terms of the revenue accrued by products offered in the market by the vendors, sold across different geographical regions, based on their type and applications of Nanotechnology.
With emerging applications and business models, IoT has an enormous requirement for tiny and low-cost sensors that can monitor all aspects of production. These sensors will likely communicate the information to other nodes in the factory network. They are expected to operate reliably in harsh conditions of the electrical and mechanical environment.
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