Molded Interconnect Device (MID) Market Size, Restraints, Drivers, Trends And Analysis 2024-2033

Spread the love

Overview and Scope

Molded interconnect device refers to three-dimensional electromechanical components that combine the finest of mechanical and electrical engineering. MIDs blend the circuit board, housing, connectors, and wires that make up conventional product interfaces into a single, small-sized component that is entirely functional. The molded interconnect devices are used to describe the method of producing selectively plated plastic pieces.

Sizing and Forecast

The molded interconnect device (mid) market size has grown rapidly in recent years. It will grow from $1.51 billion in 2023 to $1.77 billion in 2024 at a compound annual growth rate (CAGR) of 17.2%. The growth in the historic period can be attributed to miniaturization trends, consumer electronics evolution, automotive electronics development, medical device innovations, shift towards smart manufacturing..

The molded interconnect device (mid) market size is expected to see rapid growth in the next few years. It will grow to $3.27 billion in 2028 at a compound annual growth rate (CAGR) of 16.5%. The growth in the forecast period can be attributed to ongoing evolution of consumer electronics, rise in medical device integration, automotive electronics growth, rapid prototyping and manufacturing innovations.. Major trends in the forecast period include regulatory compliance and quality standards, customization and design flexibility, rapid prototyping and manufacturing technologies, sustainability and material innovations, industry 4.0 and smart manufacturing..

To access more details regarding this report, visit the link:
https://www.thebusinessresearchcompany.com/report/molded-interconnect-device-mid-global-market-report

Segmentation & Regional Insights

The molded interconnect device (mid) market covered in this report is segmented –

1) By Product: Antenna and Connectivity Modules, Connectors and Switches, Sensors, Lighting

2) By Process: Laser Direct Structuring (LDS), Two-shot molding, Other Processes

3) By Application: Automotive, Consumer products, Healthcare, Industrial, Military and aerospace, Telecommunication And Computing

Asia-Pacific was the largest region in the molded interconnect device (MID) market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the molded interconnect device (mid) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Intrigued to explore the contents? Secure your hands-on sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=8856&type=smp

Major Driver Impacting Market Growth

Growing demand for IoT devices is expected to propel the growth of the molded interconnect devices market going forward. IoT devices refer to the billions of physical items or things linked to the internet, all of which gather and exchange data with other devices and systems over the internet. The rising demand for the Internet of Things (IoT), quantum computing, and 5G, among other emerging technology segments, combined with the connected world’s increasing demand for higher computational speed and efficiency, low-power devices, and intelligent chipsets, has had a significant impact on the semiconductor & electronics industry dynamics. For instance, in August 2022, according to a blog released by Techjury, collected from IoT Analytics. The categories with the most real corporate IoT initiatives in development included Smart City (23%), Connected Industry (17%), and Connected Building (12%) and 97% of firms believe that producing value from IoT-related data is challenging. Therefore, the growing demand for IoT devices will drive the molded to interconnect devices market.

Key Industry Players

Major companies operating in the molded interconnect device (mid) market report are Molex LLC, TE Connectivity Ltd., Amphenol Corporation, LPKF Laser & Electronics AG, 2E mechatronic GmbH & Co. KG, Harting Technologiegruppe, Arlington Plating Company, MID Solutions LLC, MacDermid Inc., JOHNAN Corporation, TactoTek Oy, Axon’ Cable S.A.S, S2P Solutions, Suzhou Cicor Technology Co. Ltd, Chogori Technology Co. Ltd., Mitsubishi Engineering-Plastics Corporation, Galtronics Corporation Ltd., RTP Company, BASF SE, EMS-Chemie Holding AG, Ensinger GmbH, Zeon Corporation, SelectConnect Technologies, Multiple Dimensions AG, Cicor Group, Tesa SE, APC Automotive Technologies LLC, Yomura Technologies Inc., T-Ink Inc., ODU GmbH & Co. KG

The molded interconnect device (mid) market report table of contents includes: