2015 Top 30 MEMS companies from Yole Développement
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2015年對MEMS產業來說是不尋常的一年，排名前30位的MEMS企業在這一年裡命運迥異。有5家MEMS企業在2015年增長速度超過了20%：安華高（Avago Technologies）為41%；應美盛（InvenSense）為33%；台積電（TSMC）為29%；Qorvo為28%；瑞聲科技（AAC）為22%。
台積電首次進入全球MEMS企業30強榜單，排名第25位。得益於應美盛及其它小規模企業如mCube等客戶的業務增長，台積電2015年營收增長了約3000萬美元。這是純代工企業首次進入全球MEMS企業30強，也是MEMS產業演進的標誌。2015年全球MEMS企業30強名單唯一的變化就是台積電取代了紅外成像產品製造商ULIS，ULIS因2015年僅有數百萬美元的營收，從而失去2014年榜單第30名的位置。
射頻前端模組的應用推動了安華高和Qorvo的業務增長。日益增加的4G手機頻段覆蓋推動了應用薄膜體聲波諧振器（FBAR）技術的濾波器增長。我們相信2016年該領域仍將保持增長趨勢，2015年營收達到6.5億美元的安華高將在2016年獲得更大的市場份額，其整合創新MEMS器件和封裝的市場戰略是其獲得成功並保持增長的主要因素。
應美盛是少數幾家2015年營收強勁增長的慣性傳感器廠商之一，儘管旭化成（AKM）和阿爾卑斯（Alps）也實現了平穩增長。應美盛的成功來自於將傳感器系統等功能集成在芯片上，以及其為移動電話產業開發的STUDIO傳感軟件套裝。
相比之下，另外一些公司正面臨著營收下滑，包括佳能（Canon）、索尼（Sony）（主要受匯率影響）、意法半導體（STMicroelectronics）、德州儀器（Texas Instruments）、惠普（Hewlett- Packard）、愛普生（Epson）以及松下（Panasonic）。大部分噴墨打印頭製造商如佳能、惠普和愛普生都面臨著打印頭銷量下滑。意法半導體儘管沒能穩固排名，但其車載信息娛樂系統和可穿戴應用的營收增長彌補了移動電話業務的營收下降，使其銷售下滑相比去年有所緩解。德州儀器則將繼續應對持續緩慢下滑的投影系統業務，松下的汽車安全業務也面臨同樣困境。
儘管消費類應用產品尤其是移動電話業務存在激烈的價格戰，博世的營收仍穩定在12億美元，以領先第二位（意法半導體）驚人的60%的差距繼續領跑全球MEMS企業。
儘管博世仍處於明顯的市場領導地位，但現在的全球30強MEMS企業狀況與兩年前比已經大不相同。意法半導體、德州儀器和安華高的年銷售額都達到了7億美元級別。緊隨其後的7家公司的年銷售額位於3~5億美元之間，其中應美盛、Qorvo、樓氏電子實現了快速增長，而惠普和松下則面臨銷售下滑。市場不斷的湧入新面孔，伴隨著台積電進入全球MEMS企業30強，標誌著MEMS產業正日漸成熟。
進入MEMS企業30強的年銷售額門檻是7400萬美元，相比2014年的6500萬美元增長了14%。MEMS無疑仍是非常有活力的產業！
2015 was a unique year for the MEMS industry, with stark contrasts among the fortunes of the top 30 MEMS companies. Six companies grew by more than 20%: Avago Technologies (41%); InvenSense (33%); TSMC (29%); Qorvo (+28%); and AAC (+22%).
Now ranked 25th, TSMC became one of the top 30 MEMS companies for the first time. TSMC added almost $30M in sales in 2015 thanks to the growth of customers like InvenSense and several other smaller companies, including mCube. This is the first time that a pure-play foundry has entered the top 30 and is a sign of the evolution of the MEMS industry. TSMC displaces infrared imager manufacturer ULIS, which missed 30th place by only a few million dollars of sales, the only change in the top 30 list this year.
Radio-frequency front-end module applications are driving the growth of Avago and Qorvo. 4G phones with an ever-growing number of frequency bands to be covered are driving the success of filters using FBAR technologies. We are confident that this growth will continue in 2016 and Avago, with $650M sales in 2015, is positioned to take a large portion of this. Its strategy of integrating both innovative MEMS devices and packaging is the growth engine of its success.
InvenSense has been one of the few inertial sensor companies to grow revenues strongly in 2015, although AKM and Alps also grew modestly. InvenSense’s strategy for success comes in delivering functions such as sensor systems on a chip and its STUDIO sensor software suite to the mobile phone industry. However this has reduced the company’s profitability. AAC, and to a lesser extent Knowles, GoerTek and Infineon, are benefiting from the increased number of microphones in mobile phones and the diffusion of microphones into wearable applications.
By contrast, several companies have faced revenues decreases, including Canon, Sony (mainly due to currency fluctuation), STMicroelectronics, Texas Instruments, Hewlett-Packard, Epson and Panasonic. Most of the inkjet printhead manufacturers, like Canon, HP and Epson, suffered as printer sales fell. STMicroelectronics has not been able to stabilize its position but its sales shrank less than last year, with lower mobile phone revenues offset by increasing sales in automotive infotainment and wearable applications. TI will continue to battle against the slow decline of projection system devices, as will Panasonic in automotive safety.
Despite a fierce price war in consumer applications, especially mobile phones, Bosch has stabilized its sales at $1.2B. It remains the runaway leader of the MEMS industry, an incredible 60% bigger than its nearest followers.
While Bosch remains clearly above the other MEMS companies, the overall picture of the top 30 MEMS companies is very different from two years ago. STMicroelectronics, TI and Avago achieved sales in the $700M bracket. A further seven companies earned from $300-500M, of whom Invensense, Qorvo, Knowles are growing fast, while HP and Panasonic are managing decreasing sales. The increased number of large followers is new, an important sign, along with TSMC’s entrance, of the maturation of the industry.
To be in the top 30 MEMS companies, the minimum sales level was $74M, compared to $65M in 2014 – a 14% increase in a single year. MEMS obviously remains a very dynamic industry!
Note:
The sales figures Yole Développement uses are based on either companies’ financial reports or its own evaluation. Yole Développement includes revenue data up to the first level of packaged devices, but excludes further packaging levels. For Bosch, STMicroelectronics, Infineon, Honeywell, TSMC and Sony, we intentionally include MEMS foundry services, die and device sales. Cumulative sales for the top 30 MEMS companies therefore ‘double count’ foundry activities and device sales.
Against a particularly difficult international setting, 2015 saw some MEMS companies like Texas Instruments, Hewlett Packard, Panasonic and Canon suffer from competition and pressure from strong markets. However, others stood out and are ranked in Yole Développement’s annual MEMS manufacturers list with impressive market growth in 2015 compared to 2014. These include Avago Technologies, Qorvo and some MEMS microphone companies.
MEMS players depend heavily on their markets (consumer, automotive, medical industry) as well as on other factors and are developing their own strategies by combining market needs, economic constraints and innovative business models and technologies. Yole Développement (Yole), the “More than Moore” market research and strategy consulting company, presents its annual MEMS manufacturer ranking.
A continuing trend in the consumer industry
RF players stood out among the MEMS companies and showed impressive growth in 2015. Yole’s analysts estimate that Avago Technologies had an increase of approximately 41% in BAW filters compared to 2014, as its FBAR technology was gradually adopted more widely by smartphone manufacturers. With its US$650 million in revenues in 2015, the company climbed one place to take the #4 spot in Yole’s ranking.
In the same market segment, Qorvo, a US-based company, also grew nicely in 2015. Yole estimated a 29% increase in revenue compared to 2014, thanks to Qorvo’s SMR technology.
In parallel, microphone applications were the second most successful market segment in the 2015 consumer 2015, announced Yole. Several companies clearly bear out this finding. While the leader in the MEMS microphone market, Knowles Electronics, had medium growth in 2015 compared to 2014 (5.9% increase in revenues), AAC and Goertek recorded higher growth with 21.7% and 11.5%, respectively. “Such results are mainly due to good Infineon’s microphone performances and the trend of adding more and more value to smartphone audio,” comments Dr. Eric Mounier, Principal Analyst, MEMS & Sensors at Yole. “Both companies chose to use Infineon Technologies’ products to develop their microphone solutions. At Yole, we expect a lot of innovations in the world of audio. MEMS technology is clearly a way to improve microphone quality and performance.”
The analysis of the consumer industry would not be complete without a comment on fabless company InvenSense. The US-based company showed the largest growth in 2015 revenue, 33.2% higher compared to 2014, reaching approximately US$438 million in revenue in 2015, ranking just below Avago Technologies and above Qorvo. “InvenSense has not achieved such results without making compromises, such as lower prices and loss of profitability,” asserts Jean-Christophe Eloy, Yole’s President & CEO. And he adds:“Nevertheless, InvenSense is the only inertial sensor company which was able to grow that much in 2015; more than 33% growth. Compared to its main competitors in the consumer inertial sensor market, such growth is very significant. InvenSense is now almost the same size in the consumer markets as STMicroelectronics (STM) and Robert Bosch (Bosch). This certainly paves the way for further business increases in 2016”.
TSMC’s 2015 foundry results are, of course, linked to the growth of its partner InvenSense. The Taiwanese foundry confirmed its expansion with a 29.2% growth in revenue.
And what about Bosch and STM, both 2014 winners?
Only one year has passed, but much has changed.2014 was a successful year for Bosch. “Driven by consumer sales, its MEMS revenue increased by 0.2% to top US$1.2 billion,” Yole announced in its 2014 MEMS manufacturer ranking. Today, despite its five billion MEMS sensors and its ten years of innovation—both pieces of news announced in 2015—Bosch’s growth was minute in 2015. Its volumes increased but cost pressures forced the German company to lower its prices. “From a market segment point of view, the consumer industry is slowing down from the unsustainable growth rates observed in the last few years,”announced Guillaume Girardin, Technology and Market Analyst at Yole. “Fourth quarter 2015 market figures confirm the trend. This slowdown directly impacts MEMS companies, including Bosch. In 2015, Bosch’s revenue stabilized mainly due to the expansion of its business into the automotive sector. Its automotive business unit brings in US$800 million revenue, twice as big as its consumer business unit.”
2015 remains a good year for Bosch. Thanks to its BMP280 pressure sensor “design win”, Bosch’s production took off shipping more than one billion components in 2015, with its subsidiary Bosch Sensortec.
STM’s story is slightly different. STM eked out US$755 million in revenue in 2015, versus US$810 million the year before. With a 6.8% decrease, the company felt the effects of the fierce competition in the inertial MEMS market. To counter this harsh environment, STM came up with various strategies: a focus on MEMS-based actuators such as micro-mirrors and autofocus, and a penetration into new market segments, such as wearable electronics and automotive. It collaborated with Chinese firms to increase its volume and fill its production capacity. STM is also considering selling its CIS business. All of these strategies indicate hesitation on the part of STM and do not reveal what the future holds.
Texas Instruments (TI) held onto third place on the list with US$735 million in revenue, a 5.5% decrease compared to 2014. Working in a low-volume market, the company still struggles with its DLP sales. However, the trend could reverse in the near future. Yole’s analysts stress the appeal of using MEMS micro-mirrors in various applications, for example gesture control, auto-focus and smart lighting applications for cars. Today, TI has a full range of micro-mirrors for a diverse array of industries (consumer, automotive, industrial) and may be able to offer them valuable solutions. Only time will tell.
2016 might be a challenging year for MEMS companies. According to Yole’s analysts, market segments that could be great opportunities for MEMS firms are not yet mature and may not ensure significant volume or revenue as high as in the smartphone industry. These include:
- The IoT bubble is still a niche market today. The main applications are industrial, which do not look for low cost or large volume
- Wearable electronics applications look very promising as part of the consumer industry. However, the high volumes that will come with it have not yet taken off
- Self-driving vehicles might be the most attractive market segment, but its primary products are image sensors, radars and LIDARs
- The medical industry is growing, but its volumes are still very low compared to the total MEMS market
Nevertheless, Yole still sees some wonderful opportunities in the emerging but growing demand for pressure and gas sensors, fingerprinting and dual cameras shaping the consumer market.
Yole believes the future growth of the MEMS market will be a combination of applications, from smartphones and wearables to automotive and medical. In addition to putting together the annual MEMS manufacturer ranking and crunching MEMS market data, Yole’s experts identify disruptive technologies and analyze changes in MEMS solutions and their applications to pinpoint major trends and business opportunities. In one of their latest presentations (Claire Troadec, MEMS Executive Congress, Munich, 2016), they stated that MEMS solutions should increase added value first and foremost and address cost pressures and process optimization secondly to avoid shrinking margins. Further analysis and results are available in Yole’s reports all year long. Read more information at i-micronews.com.
Source: www.yole.fr
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