The molded interconnect devices market revenue totalled US$ 1.2 Billion in 2022. The molded interconnect devices market is expected to reach US$ 4.2 Billion by 2033, growing at a CAGR of 12.4% for 2023 to 2033.
| Attributes | Details |
|---|---|
| Estimated Year (2023) Market Value | US$ 1.3 Billion |
| Projected Year (2033) Market Value | US$ 4.2 Billion |
| CAGR% (2023 to 2033) | 12.4% |
| Top 5 Vendor Market Share | Around 35% |
Molded Interconnect Devices (MID) are a type of electronic packaging technology that uses injection molding to create complex, three-dimensional structures that integrate electronic components and interconnects.
MIDs can be used to create small, lightweight, and low-cost electronic devices such as cell phones, medical devices, and automotive sensors. The process of creating MIDs involves injection molding a thermoplastic material around electronic components and interconnects, which are placed in a mold before the plastic is injected.
The resulting structure is a single, integrated package that includes both the electronic components and the interconnects.
Molded interconnect devices market consist of 20% of the global printed circuit board market.
The Molded interconnect devices is expected to grow at 12.4%CAGR between 2023 to 2033 and the market grew by 8.4% for 2018 to 2022
The increasing adoption of IoT devices will create advantageous opportunities for market growth. Furthermore, technological advancements, rising smartphone demand, will boost the market growth of molded interconnect devices market during forecasted period.
The molded interconnect devices (MID) market is the increasing demand for miniaturization and integration of electronic devices in various industries, such as automotive, healthcare, and consumer electronics. MID technology allows for the creation of complex electronic circuits with a high level of precision, in a compact and cost-effective manner.
Additionally, the growing adoption of the internet of things (IoT) and the increasing need for wireless communication in various applications are also driving the market for MIDs.
The market's growth rate will be hampered by high tooling costs and incompatibility with electronic packages. The market will also be challenged by fluctuating raw material prices. The disruption of the semiconductor supply chain because of COVID-19 affected the market growth.
North America had the largest market share for molded interconnect devices market in 2022, with a market share of 27.5%. South Asia and Pacific is expected to be the fastest growing region with a CAGR of 15.4%
The North American market for molded interconnect devices (MIDs) is expected to expand in the coming years, driven by rising demand for compact, lightweight, and highly integrated electronic devices in the automotive, consumer electronics, and medical device industries.
The use of molded interconnect devices market (MID) in the automotive sector can lead to lighter, more efficient vehicles with improved functionality. MID can also be used to create complex, multi-functional parts, which can reduce the number of components required in a vehicle, leading to cost savings so US automobile manufacturer companies rapidly adopting and implementing the molded interconnect devices market in manufacturing of Vehicles, So USA holds highest market share of 27.5% in molded interconnect devices market.
The market for molded interconnect devices (MID) in India is expected to grow at a significant rate in the coming years. This growth is driven by the increasing adoption of IoT and the growing demand for smart devices in the country. The Government of India initiatives to promote the manufacturing of electronic goods within the country and the growing adoption of automation in various industries are also expected to drive the growth of the MID market in India.
China is a major player in the global electronic manufacturing industry, with a significant presence in molded interconnects devices (MID) manufacturing. Chinese companies have made significant investments in the development of this technology and have established themselves as leading MID manufacturers, so China has highest dominating market in molded interconnects devices.
Antenna and connectivity modules refer to a subcategory of electronic components that are used to transmit and receive wireless signals. These modules typically include an antenna and one or more electronic components, such as RF amplifiers or transceivers, which are used to condition the signals for transmission or reception. They are commonly used devices such as smartphones, laptops, and IoT devices and defence services this will boost the market, as a result, this market segment is dominated in molded interconnect devices.
In the laser direct structuring (LDS) process, conductive structures are directly patterned on a plastic substrate. Molded interconnect devices (MIDs), which are plastic components with built-in electronic circuitry, are produced using it. Due to this technology, compact, lightweight, and reasonably priced electrical gadgets can be produced, these are the factors this segment holds the highest CAGR of 15.2%.
Molded interconnect devices can be used in the automotive industry to produce complex electronic components such as sensors and control units. Molded interconnect devices (MIDs) can improve the reliability and performance of these components while also reducing their size and cost.
Additionally, MIDs can simplify the assembly process for automotive manufacturers by eliminating the need for separate electronic components to be connected and sealed in a traditional manner. Automotive segment is the fastest growing industry for molded interconnects devices due to the above mentioned reasons.
Major companies in the molded interconnect devices market are concentrating on new technology variation of molded interconnect devices in that will cost efficient and quick responsive so large Manufacturers are merging the small scale companies of various electronic products manufacturers for boosting up their production.
| Attribute | Details |
|---|---|
| Market value in 2022 | US$ 1.2 Billion |
| Market CAGR 2023 to 2033 | 12.4% |
| Share of top 5 players | Around 35% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Billion for Value |
| Key Regions Covered | North America; Latin America; Europe; South Asia & Pacific; East Asia and the Middle East & Africa |
| Key Countries Covered | USA, Canada, Germany, United kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Australia & New Zealand, GCC Countries, Turkey and South Africa |
| Key Segments Covered | Solution, Enterprise Size, Industry, Application and Region |
| Key Companies Profiled | GALTRONICS; HARTING Technology Group; MacDermid, Inc.; LPKF Laser & Electronics AG; Cicor Management AG; YOMURA; RTP Company; S2P smart plastic product; SelectConnect Technologies; Suzhou Cicor Technology Co. Ltd; TE Connectivity; Teprosa GmbH; Tongda Group; BASF SE; EMS-CHEMIE HOLDING AG; DSM |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
Some leading companies are GALTRONICS, HARTING Technology Group, MacDermid, Inc., etc.
South Asia and Pacific region is expected to showcase the highest growth.
The Molded interconnect devices (MID) market is expected to expand in the coming years due to rising demand for electronic device miniaturisation and integration.
Automotive Industry has the largest market share for the molded interconnect devices of 26.1%
Laser direct structuring (LDS) has the highest CAGR for the molded interconnect devices of 15.2%
USA, UK, India, China and Japan.
The market share of South Asia and Pacific for the year 2022 is 21.1%.
Antenna and connectivity modules and laser direct structuring (LDS) are gaining popularity.
India has the highest CAGR for the forecast period, which is 19.1%
The CAGR for the forecast period 2018-2022 for molded interconnect devices market was 8.4%s
China had the largest market share in East Asia in 2022, for molded interconnect devices Market.
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Molded Interconnect Devices (MID) Market
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