Buoyed by a strong, eventful 2004, the MicroElectroMechanical Systems (MEMS) market will grow over the next few years in terms of unit shipments at a Compound Annual Growth Rate (CAGR) of 19.87% to nearly 6 bln units in 2009, reports In-Stat. Funding for MEMS companies increased by 43.9% in 2004 versus 2003, the high-tech market research firm says, as the market continued to rack up strong sales. YTY total MEMS revenues were up 32% from 2003 to 2004.
Microfluidic devices accounted for nearly 69% of total unit shipments and 23% of total revenues in 2004. With more cell phones integrating RF MEMS devices and inertial sensors and the optical networking sector finally embracing MEMS technology, the communications market is forecast to experience the highest CAGR for unit shipments and revenues. Despite the fragmented and niche-like nature of the industrial segment, it is the dominant segment in terms of revenue in 2004, and remains so throughout the forecast period. The top 20 suppliers of MEMS devices accounted for 62.2% of revenues in 2004.