Microactuator Market Scope
Microactuator is a type of transducer which transmits energy to operate any mechanism. Transmitted energy can be of any types such as electric current, hydraulic or pneumatic pressure. Microactuators are a three-dimensional device which are produced using techniques such as lithographic and nonisotropic. Growing use of microactuators in end-user industries and technical advancement are the prime factors attributing to the growth of Microactuator market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | IBM Corporation (United States), ST Microelectronics (Switzerland), Agilent Technologies (United States), Stmicroelectronics (Switzerland), Linear Technology (United States) and Physik Instrumente (Germany) |
CAGR | 6.6% |
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Microactuator market throughout the predicted period.
IBM Corporation (United States), ST Microelectronics (Switzerland), Agilent Technologies (United States), Stmicroelectronics (Switzerland), Linear Technology (United States) and Physik Instrumente (Germany) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Genziko (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Microactuator market by Type , by Application (Electronics, Healthcare, Automobile Industry and Other) and Region with country level break-up.
On the basis of geography, the market of Microactuator has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Leaders and their expansionary development strategies
In June 2022, The Timken Company, a global industrial leader in engineered bearings and power transmission products, has completed its previously announced acquisition of Spinea s.r.o., a European technology leader and manufacturer of highly engineered cycloidal reduction gears and actuators.
In October 2020, Dispelix's partner STMicroelectronics, a global semiconductor leader serving customers across the spectrum of electronics applications, announces the launch of the LaSAR Alliance (Laser Scanning for Augmented Reality), an ecosystem of leading technology developers, suppliers, and manufacturers collaborating to develop and accelerate augmented reality (AR) smart-glass solutions.
Influencing Trend:
Growing Deployment of Electromagnetic Actuator Devices in Space Crafts and Increasing Use of Microactuator Based Piezoelectric Devices in Powering Portable Devices
Market Growth Drivers:
Growing Use of Microactuator in End-users Industry Such as Electronics, Automotive and Healthcare
Challenges:
Issues Such as Power Consumption, and Noise Associated with the Use of Microactuators
Restraints:
High Cost Incurred in Manufacturing of Microactuator
Opportunities:
Growing Automation in End-users Industries and Rising Demand of Fabricated Sensors in Automotive and Electronics Industries
Key Target Audience
Raw Material Suppliers, Distributors/Traders/Wholesalers/Suppliers, Regulatory Bodies, Including Government Agencies and NGO, Commercial Research and Development Institutions, Importers and Exporters, Government Organizations, Research Organizations, and Consulting Firms, Trade Associations and Industry Bodies, End-use Industries and Others