Molded Interconnect Device Market was valued US$ 300 Mn in 2017 and is expected to reach US$ 890.5 Mn by 2026 at a CAGR of 14.57% during forecast period.
Molded Interconnect Device market is segmented by process, product, end-user application and region. Increasing demand in electrical and mechanical application, rising use of Molded Interconnect Device in medical sector and need for reuse of components are driving factors behind growth of Molded Interconnect Device market during forecast year.
Based on the process, Molded Interconnect Device market for Laser Direct structuring is expected to witness high growth rate due to increasing demand for LDS equipment that is used for manufacturing of Molded Interconnect Device. Molded connected device with LDS equipment reduces component in electronics devices.
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By application, Automotive segment holds the largest market share for Molded Interconnect Device market due to increasing implementation of Molded Interconnect Device in steering wheel hubs, brake sensors, position sensors and lighting. Molded Interconnect Device reduces wiring and combine the connector to integrate all the circuitry in single housing.
Geographically, Asia-Pacific is expected to witness high growth rate in Molded Interconnect Device market because of rising demand in smartphones and wearable devices and automobile segments. With growing demand for communication infrastructure, communication devices and consumer electronics, Asia-Pacific is showing upward trend for the growth for Molded Interconnect Device market.
Technology is enabling miniaturization of devices with smartphones and automotive light fixtures by minimizing assembly time and space-saving circuitry. Cost-effectiveness of the technology can be attributed to some parts needed for assembly as compared to traditional PCB circuits, driving the growth of the molded interconnect device market. Design flexibility of such devices are delivering high product reliability and less requirement for secondary parts. Eco-friendly and recyclable components improves necessity and the demand for such devices across end-use verticals. Environmental benefits of the technology, like recyclable thermoplastic materials and exclusion of hazardous flame-retardant manufacturing process, are expected to drive molded interconnect devices (MID) market growth during forecast period.
Molded Interconnect Devices market is being challenged by lack of implementation due to less awareness, high technological expertise for manufacturing, and presence of only a few vendors providing molded interconnect devices products. On the other hand, with continuous innovations in consumer products technology and the rising demand for the miniaturization of products, molded interconnect devices market has gained push over the past few years.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Molded Interconnect Devices Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in Molded Interconnect Devices Market.
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Global Molded Interconnect Device market, By Process
• 2-Shot Molding
• Film Techniques
Global Molded Interconnect Device market, By Product
• Connectors & Switches
Global Molded Interconnect Device market, By End-user
• Consumer Products
• Military & Aerospace
• Telecommunication & Computing
Global Molded Interconnect Device market, By Region
• Middle East & Africa
• Latin America
Key players of the Molded Interconnect Device Market:
• TE Connectivity
• MID Solutions
• 2E mechatronic
• Multiple Dimensions
• Arlington Plating Company
• RTP Company
• Multiple Dimensions AG
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