Products built with MEMS technology are forecast to account for 73% of the $9.3 billion semiconductor sensor market in 2018 and around 47% of the projected 24.1 billion total sensor units to be shipped globally this year, according to IC Insights.

MEMS-built sensors are predicted to grow 10% this year, with shipments forecast to rise by 11% to 11.1bn.

IC Insights anticipates an additional $5.9bn in sales in 2018 by MEMS-built actuators, which use their microelectromechanical systems transducers to translate and initiate action. Total sales of MEMS-built sensors and actuators are projected to grow 10% in 2018 to $12.7bn, IC Insights adds.

Shipments of MEMS-built sensors and actuators are anticipated to increase by nearly 12% to 13.1bn units worldwide, with total revenues rising by a GAGR of 9.2% between 2017-2022, reaching $17.8bn, says IC Insights.

One of the biggest changes, IC Insights expects in the five-year forecast period will be greater stability in the average selling price for MEMS-built devices and significantly less ASP erosion than in the past 10 years. The ASP for MEMS-built sensors and actuators is projected to drop by a CAGR of -2.0% between 2017-2022, compared to a -4.7% annual rate of decline between 2012-2017 and the steep CAGR plunge of -13.6% between 2007-2012.