Molded Interconnect Devices (MID) Market Size

Molded Interconnect Devices Market Size

Molded Interconnect Devices Market size surpassed USD 500 million in 2021 and is slated to exhibit a CAGR of more than 10% from 2022 to 2030. The strong demand for smart consumer electronics will bolster the industry growth.

With the escalating adoption of next-gen electronics, the need for manufacturing technologies that reduce weight and maximize space while offering increased capabilities has elevated. Molded interconnect devices (MID) technology is being leveraged to integrate functions in one 3-D package, resulting in compact, lightweight, and high-capability electronic devices. The demand for terminal devices such as smartphones, notebooks, and smartwatches has been surging. These factors will fuel the deployment of MID technology, given its high energy efficiency, interconnectivity, and smaller footprint.

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Lack of skilled technical experts

Rising electrification and the usage of advanced semiconductor solutions are providing lucrative opportunities for Molded interconnect devices market expansion. Despite the favorable growth trajectory, low awareness regarding molded interconnect materials and limited presence of technical manufacturing experts and vendors offering MIDs has been observed. All these factors, alongside the high development costs, may create roadblocks to industry development by 2030.