The molded interconnect devices (MID) market is expected to grow from US$ 1,203.5 million in 2021; it is expected to grow at a compound annual growth rate (CAGR) of 14.5% from 2022 to 2028
MARKET OVERVIEW
Molded interconnect devices (MIDs) are advanced electronic manufacturing technology that directly integrates mechanical and electrical components and circuits onto 3D plastic components. This technology combines the functionality of traditional product interfaces into a single functional, compact part. MID technology has numerous applications across various industries. It is commonly used in the automotive and aerospace industries to make sensors, lighting systems, and user interfaces. MIDs create compact, portable medical devices with built-in electronic components in the medical industry. MIDs are used in smartphones, laptops, and other gadgets in the consumer electronics industry. One of the most significant advantages of MIDs is their design flexibility. This technology eliminates the need for additional components, resulting in space savings and a reduction in the total weight of the product. MIDs offer a shorter production cycle and lower manufacturing costs than traditional printed circuit board (PCB) technology. The simplified manufacturing process of MIDs can lead to a faster time-to-market for new products, which is particularly crucial in industries with rapidly changing consumer demands. In conclusion, MIDs are a breakthrough technology with broad applications in various industries. Their design flexibility, compactness, and reliability make them an ideal solution for creating smaller and lighter products. With their simplified manufacturing process, MIDs have the potential to revolutionize the manufacturing industry and lead to the development of new, innovative products.
MARKET DYNAMICS
The molded interconnect devices market is being driven by the integration of circuits and sensors, which reduces assembly times and production steps, optimizes costs, and results in high-quality components. Other growth factors include the use of laser direct structuring for 5G antennas and the demand for IoT devices. However, the molded interconnect devices market is hindered by high raw material prices and tooling costs during the manufacturing process.Â
MARKET SCOPE
The "Global Molded Interconnect Device Market Analysis to 2028" is a comprehensive report that specializes in analyzing the market trends on a global scale. The report includes a detailed market segmentation, as well as key market statistics and insights into the leading players. It also highlights significant trends and opportunities within the molded interconnect devices market.
MARKET SEGMENTATION
The molded interconnect devices market is categorized into product, end-users, and process segments. The product segment includes antennae and connectivity modules, sensors, connectors and switches, lighting systems, and other related products. The end-users segment consists of automotive, consumer electronics, medical, telecommunications, military and aerospace, and other industries. The process segment includes LDS, two-shot molding, and film techniques.
REGIONAL FRAMEWORK
The global molded interconnect devices market is segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America, covering 18 countries worldwide, and highlighting current trends and opportunities in the region. The Asia Pacific region is expected to exhibit the highest CAGR due to the presence of key OEMs, semiconductor and product manufacturers, regulatory bodies, and associations in the region. Taiwan, South Korea, and China are some of the countries that offer advanced semiconductor fabrication and electronic systems assembly services, allowing leading MID manufacturers to gain a cost advantage. Notable companies operating in the molded interconnect devices market include Johnan, Sunway Communication, Suzhou Cicor Technology, Yomura Technologies, Yazaki Corporation, Chogori Technology, Suzhou Zeeteq Electronics, Toyo Connectors, and SINOPLAST.
The molded interconnect devices market is assessed in the report, which examines various factors, including drivers, restraints, opportunities, and future trends. Additionally, a comprehensive PEST analysis is provided to evaluate the market's influencing factors.
IMPACT OF COVID-19 PANDEMIC
The COVID-19 pandemic has had a negative effect on the molded interconnect devices market, primarily because of reduced demand and production in the consumer electronics and automotive industries. Lockdowns and restrictions on international trade in 2020, imposed by governments and associations worldwide, led to the closure of many manufacturing plants, which disrupted supply chains.
MARKET PLAYERS
The molded interconnect devices market reports highlight important advancements. Market players are pursuing both organic growth tactics like product launches, approvals, and patents, as well as inorganic growth strategies such as acquisitions and partnerships to expand their customer base. Due to the increasing demand for MIDs, the market is expected to present profitable growth prospects for players in the future. The list of a few companies engaged in the molded interconnect devices market is mentioned below:
- Arlington Plating Company
- HARTING Technology Group
- LPKF Laser and Electronics AG
- MacDermid, Inc.
- Molex, LLC
- Multiple Dimensions AG
- RTP Company
- TE Connectivity
- TEPROSA GmbH
- YOMURA