Molded interconnect devices are three-dimensional electromechanical components. In addition, these devices are major components for various mechanical and electrical engineering application that are used in automotive and telecommunication industry. Molded interconnect devices can minimizes the number of parts in circuit saving space & reduce assembly time along with cost effective for complex electromechanical functions which in turn is predicted to increase the usage of MID deices in various end use application. Additionally, molded interconnect devices combine with various internal parts that includes circuit board, connectors and cables among others. Moreover, automotive and telecommunication manufactures are now focusing to develop their product by integrating electrical & mechanical functions in a single product. This helps manufactures in saving production costs along with reducing their production time. Even though MIDs have been around for many years but these production adoption has not been widespread. Across the globe, increasing the adoption of smart devices has been observed in last couple of years. Thus, the molded interconnect devices market is likely to witness stable growth during the forecast period from 2017 – 2025 owing to frequent inventions in telecommunication and consumer electronics application are expected to increase in coming years.
The global molded interconnect devices market has been segmented on the basis of manufacturing process, end use industry and geography. Based on manufacturing process, the market for molded interconnect devices has been bifurcated into various types which includes laser direct structuring, two components injection molding and film back injection molding others. Laser direct structuring (LDS) begins with a single shot molding to generate the physical part of component. In 2016, the laser direct structuring segment hold the major market share among the other process segment. Additionally, laser direct structuring is anticipated to grow at a high CAGR rate during the forecast period. Based on end use industry, global molded interconnect devices market has been fragmented in various types which includes telecommunication, automotive, industrial and healthcare among others. Over the past few years, there has been a significant growth in the growing number of smart phones, tablets and smart devices which is favoring adoption of molded interconnect devices.
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Moreover, factors such as increasing use of molded interconnect devices in growing penetration of various automotive applications such as sensors, switches, antennas and LED lighting among others are expected to further bring significant growth in the overall market. This complete research study of the global molded interconnect devices market provides a comprehensive review of growth, trends, restraints, drivers, and demand projection, market size and forecast among others. In last couple of years, telecommunication industry accounted for maximum market share, and also predicted to expand at a healthy CAGR during the forecast period. However, automotive and healthcare industry is forecasted to witness steady growth during the forecast period. Across the globe, design flexibility of the products and less auxiliary parts along with eco-friendly features technologies in automobile industry has helped fuel major demand for this market. Furthermore, the demand of molded interconnect devices is foreseen to gain a strong momentum is growth due to rising application in the telecommunication and automotive sectors. On the flip side, high tooling costs, high cost chemical element during production process and low circuit density is hindering the growth of the global molded interconnect devices market in coming years.
Geographically, the global molded interconnect devices market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa and South America. In coming years, Asia Pacific is expected to hold the maximum market share due to primarily attributed to increasing usage in consumer electronics. In Asia Pacific, China is expected to be the major contributor for the growth of molded interconnect devices market over the forecast period. A range of research and development applications including the usage of developments of molded interconnect devices product could provide opportunity to the market growth. North America, is forecasted to witness strong growth rate due to the U.S. based technological giant companies such as Google, Apple, others are upgrading and expanding their product line. South America and Middle-East & Africa are expected to showcase slower growth in the molded interconnect devices market when compared with other regions.
The global molded interconnect devices market is dominated by players such as Molex, MacDermid, Siemens, LPKF Laser & Electronics, Fujitsu, TE Connectivity, Harting, Select Connect Technologies among others.