The market analysis company also reckons that in terms of units shipped the market will grow at a compound annual growth rate of 28.4 percent over the period 2013 to 2018. This growth is set to take the market from about 12.4 billion units in 2013 to 43.3 billion units by 2018.
The growth was higher than the long-term average in 2014. Semico reckons the unit shipments were up by 36.6 percent compared with 2013, which implies about 16.95 billion units shpped in 2014.
Growth is set to continue at strong levels driven by growth of the Internet of Things market. "Going forward, industrial and home automation are the new drivers for MEMS innovation as more devices with new sensing technologies are connected to the IoT," said Tony Massimini, chief of technology at Semico, in a statement. "MEMS are growing in part as they replace conventional non-MEMS sensors in automotive and industrial applications. Accelerometers and microphones will account for the bulk of these shipments."
The industrial MEMS sector will be the second largest sub-market in 2018 reaching $5.3 billion.