Molded Interconnect Device (MID) Market

Key Revenue Pockets - Molded Interconnect Device (MID) Market

In this research report, the MID market has been segmented on the basis of process, product type, industry, and geography. The MID market is expected to reach USD 1,798.3 million by 2023 from USD 894.1 million in 2018, at a CAGR of 15.0% from 2018 to 2023.

The major factors driving the growth of the MID market include the increasing use of MID in medical devices, increasing need to reduce e-waste, and rising demand for miniaturization in the consumer electronics industry. In consumer electronics, there is increasing demand for integrating more electronic circuits into smaller spaces. For instance, smartphone requires an antenna; instead of designing a stand-alone antenna, MID integrates the antenna into the mechanical enclosure, which saves space.

With advancements in the conventional car design and the evolution of EVs and HEVs, electronic content in vehicles has increased tremendously. Also, manufacturers are trying to reduce the number of electronic components used in vehicles to reduce manufacturing costs. This is expected to increase MID consumption in the automotive industry. In addition, growth in IoT devices is expected to boost the MID market in the coming years.

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In the process segment, the MID market for laser direct structuring (LDS) is expected to grow at a high CAGR during the forecast period. LDS allows to eliminate components in electronic devices, such as antennae in smartphones, thus reducing assembly time and device production cost. Increasing demand for integrating more electronic circuits into smaller spaces is fueling the growth of LDS in the MID market.

In the industry segment, the MID market for automotive is likely to grow at a high CAGR during the forecast period. This is largely due to the wide-scale adoption of MID in various automotive applications, such as steering wheel hubs, brake sensors, position sensors, and lighting. In automotive, MID reduces the wiring and combines the connector and housing in 1 piece, and through selective plating, it incorporates all the required circuitry.

Among regions, Europe is expected to be the fastest-growing market for MID during 2018–2023. The presence of LDS equipment manufacturers such as LPKF and leading MID manufacturers such as Harting (Germany), TE Connectivity (Switzerland), 2E mechatronic (Germany), and Multiple Dimensions (Switzerland) positively impacts the MID market in this region. Furthermore, the presence of prominent automotive OEMs in this region, which are using MID for applications such as seatbelt safety systems, position sensors, and light fixtures, is expected to boost the MID market growth in Europe.

Related Reports:

Molded Interconnect Device (MID) Market by Process (LDS, 2-Shot Molding, Film Techniques), Product (Antennae & Connectivity Modules, Connectors & Switches, Sensors, Lighting), Industry, and Geography - Global Forecast to 2023

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Report Code
SE 6567
RI Published ON
8/31/2012
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