Home > Electronics & Media > Molded Interconnect Devices (MID) Market
Molded Interconnect Devices Market size was valued at around USD 500 million in 2020 and is estimated to grow at a CAGR of over 13% from 2021 to 2027. The increasing demand for miniaturized and compact features in various electronics devices, such as smartphones and smartwatches, has positively influenced the market growth.
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MID helps to reduce the circuit density with the integration of less auxiliary components and reduce failure ratio and complexities. These features will increase the demand for MID among consumer electronics manufacturers to integrate more electronic components into lesser space. In mobile devices, MID is used to improve space utilization with the replacement of normal antenna stub with internal antenna. The proliferation of IoT and AI technology in computing devices and smart wearables will accelerate the MID market expansion during the forecast period.
Molded interconnect devices (MID) are injection molded thermoplastic substrates that integrate electrical and mechanical functions by incorporating conductive circuit pattern. These devices combine connectors, housing cables, and circuit boards, which include traditional product interface and merger them into a fully functional and compact device. These devices are used in a wide range of industries including medical, automotive, consumer electronics and telecommunication market.
Report Coverage | Details |
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Base Year: | 2020 |
Market Size in 2020: | USD 500 Million |
Forecast Period: | 2021 to 2027 |
Forecast Period 2021 to 2027 CAGR: | 13% |
2027 Value Projection: | USD 1 Billion |
Historical Data for: | 2016 to 2020 |
No. of Pages: | 250 |
Tables, Charts & Figures: | 371 |
Segments covered: | Process, Application, Region |
Growth Drivers: |
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Pitfalls & Challenges: |
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COVID-19 pandemic has widely impacted the molded interconnect devices market with the declining demand and production activities in automotive, consumer electronics, and industrial sectors. In early 2020, several governments around the globe-imposed lockdown and restriction in international trades, resulting in shutdown of various manufacturing plants. Also, the declining consumer buying power and weakening per capita income have negatively affected the production capabilities, hampering the market opportunities for the industry. However, increasing digitalization and growing trend toward work from home scenarios have accelerated the demand for computing devices, adding an opportunity to the industry growth.
The two-shot molding segment dominated more than 55% of the molded interconnect devices market share in 2020 and will witness 11% growth rate through 2027 led by the adoption of two shot molding for high volume production of complex, multi-material plastic, and multi-color products. This process requires a single machine cycle, which helps to maintain cost effectiveness and increase production of molding products. Two-shot molding process helps to improve part integrity and multi material efficiency, increase its demand in consumer appliances, automotive electronics, and medical device applications.
Two-shot molding process aids to deliver parts in various technical configurations and sizes, increasing its demand in designing of medical grade parts and equipment. MID with two shot molding enables to deliver medical cleanliness and manage complex designing processes, accelerating the opportunities for MID market among healthcare OEMs. This has positively enhanced the market players to integrate two shot molding process into MID manufacturing.
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The telecommunication & computing segment in the MID market will hold 53% of revenue share and is expected to expand at a CAGR of 11% through 2027. MID combines mechanical and electric functions into a single product, which helps to reduce the production time and cost and improves the reliability and efficiency of various telecom and computing devices. The growth is driven with the proliferation of 5G technology, which increases the demand for various interconnect devices and mobile antennas, accelerating the market potential for MID providers. Increasing government initiatives to accelerate new technologies in the telecom sector will further boost the market opportunities for MID players.
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Asia Pacific molded interconnect devices market accounted for over 45% of revenue share in 2020 and is poised to attain a CAGR of more than 14% during 2021 to 2027 impelled by the increasing consumer electronics production in China, South Korea, Japan, and India. The presence of major players, such as Samsung, Panasonic, Sony, and Koninklijke Philips N.V., in South Korea will fuel the growth opportunity for MID players. Also, rising initiatives and funding activities by the government to accelerate electronics production in the country will foster the market potential in coming years.
Increasing funding activities and initiatives by the regional government and association have further influenced the domestic consumer electronics manufacturers to augment their investments in new technologies and capacity expansions, driving the industry expansion during the forecast timeline. For example, Samsung has planned to accelerate its spending by 30%, reaching to around USD 151 billion by 2030. Adding to this, the proliferation of new disruptive technologies in the region, such as AI, IoT, and machine learning, has surged the requirement of new technologies in the manufacturing sector, which will stimulate the industry progression.
Key players operating in the MID market are Amphenol Corporation, Harting Technology Group, LPKF Laser & Electronics AG, Molex LLC, Multiple Dimensions AG, Suzhou Cicor Technology Co. Ltd, RTP Company, SelectConnect Technologies, among others. These companies are continuously involved in integrating new strategies, such as business expansion, merger, and acquisition, to cater to highly competitive edge in the industry.
Market, By Process
Market, By Application
The above information has been provided for the following regions and countries: