Molded Interconnect Devices Market worth over $1.2bn by 2026
Published Date: March 12, 2020 Authors: Preeti Wadhwani, Shubhangi Yadav
Molded Interconnect Devices Market size is set to exceed USD 1.2 billion by 2026, according to a new research report by Global Market Insights, Inc.
Molded interconnect devices market growth is supported by miniaturizing devices and reducing spaces between components. The ability to reduce number of components & wires makes MID an attractive option for delivering affordable connectivity. These devices eliminate the need for wire harnesses, which give better functioning, best mechanical enclosure, and reduction in space.
Surging demand for Laser Direct Structuring (LDS) process in medical applications
The Laser Direct Structuring (LDS) segment held a molded interconnect devices market share of around 30% in 2019 and is predicted to witness 15% growth till 2026. This technique emphasizes on the usage of a single-shot molding process to generate the physical part of molded interconnect devices. The segment growth will be driven by its shorter assembly time, miniaturization, weight reduction, and a high degree of design freedom than traditional methods.
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The LDS process is gaining high growth opportunities from the medical sector to reduce the weight & size of medical equipment. Manufacturers of medical devices are focusing on the development of compact dimensioned equipment with a greater number of functioning, which will accelerate the market demand.
The LDS process used in molded interconnect devices is used for a wide range of medical applications such as blood glucose meter, home healthcare telemetry, neurostimulation controllers, drug delivery systems, telehealth, and pulse oximeters.
Browse key industry insights spread across 280 pages with 312 market data tables and 41 figures & charts from the report, “Molded Interconnect Devices Market Size By Process (Laser Direct Structuring (LDS), Two-Shot Molding), By Application (Automotive, Consumer Products, Healthcare, Industrial, Military & Aerospace, Telecommunication & Computing), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 - 2026” in detail along with the table of contents:
Telecommunication & computing segment is dominating the molded interconnect devices market due to exponential demand for antennas
The telecommunication & computing applications dominated over 50% market share in 2019 and will register more than 11% gains through 2026. The introduction of 5G mobile communication technology will lead to the increasing demand for smartphone antennas and other interconnected devices, in turn, increasing growth opportunities for the industry.
Telecommunications equipment manufacturers are focusing on developing products with molded interconnect device implementation to save production costs and reduce production time. Though these devices, electrical & mechanical functions can be combined in a single product, which increases the reliability and performance of the product.
The proliferation of wearable devices over the past few years has increased the adoption and popularization of molded interconnect devices in the consumer electronics industry. The mobile market is moving into the new 5G era for high-speed connectivity, creating a high demand for antenna solutions. The manufacturers are partnering with major OEMs to meet their antenna needs in the wearable devices’ category.
Government regulations on vehicle safety are laying significant growth impact on the Europe market
The European molded interconnect devices market is anticipated to expand 12% CAGR during the forecast period. The presence of several major automotive manufacturers in the region particularly in France, Germany, and Italy is contributing to industry growth. The growing provision of automotive electronics and advanced safety systems in vehicles are driving the market revenue.
Several government initiatives to reduce the number of fatalities has mandated the adoption of safety features in vehicles. This will further propel the market share of companies manufacturing molded interconnect devices in the region. For example, in November 2019, the European Commission introduced a regulation to mandate the implementation of advanced safety systems in vehicles including intelligent speed assistance, tire pressure monitoring, and advanced driver distraction warning systems.
Molded interconnect devices offer high reliability and flexibility to integrate advanced components into the chip, thereby enhancing device performance. As a result, these devices are experiencing significant development in automation, telecommunication, medical, and healthcare industries.
There is a significant demand for recyclable and eco-friendly components, such as recyclable thermoplastic material and removal of flame redundant manufacturing process, from European consumers, which is driving the growth of the market in the region. With the growing demand for 5G communication infrastructure, communication devices and consumer electronics will propel market representation in the region.
Major players in the molded interconnect devices market include Molex, TE Connectivity, Harting Mitronics AG, LPKF Laser & Electronics, SelectConnect Technologies, MacDermid Enthone, and RTP company. These prominent companies are involved in several research & development activities to expand the adoption of molded interconnect devices in various industries. The market players are also forming partnership agreements with thermoplastic material suppliers to develop material formulations in the manufacturing process.
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