MEMS stands for micro-electro-mechanical systems, which involves integrating sensors, actuators, and electronics onto a common silicon substrate using microfabrication technology. MEMS can be made from materials like gallium arsenide, titanium nickel, and piezoelectric materials. The main steps in fabricating MEMS are deposition, lithography, and etching - which allow for creating thin films and precisely etching patterns. In the future, MEMS technology is expected to enable cost reduction, increased functionality, improved reliability, decreased size, and decreased mass compared to conventional technologies.