Molded Interconnected Device Market size is anticipated to cross USD 4.7 Billion by the end of 2036, growing at a CAGR of 12% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of molded interconnected devices was over USD 1.2 Billion. As the Internet of Things (IoT) continues to grow, there is an increasing demand for devices that are interconnected and have smaller footprints. This is where Molded Interconnect Device (MIDs) come in. MIDs allow electronic components to be integrated directly into 3D shapes, which enables the creation of smart devices that are more compact and interconnected. With MIDs, designers can create complex geometries, optimize space, and improve functionality. This technology is becoming increasingly popular in a wide range of industries, from healthcare and automotive to consumer electronics and aerospace.
Continuous advancements in manufacturing technologies, such as laser direct structuring (LDS) and 3D printing, have enhanced the production efficiency and flexibility of MIDs. These techniques enable rapid prototyping and customization, catering to diverse industry needs.
Growth Drivers
Challenges
Base Year |
2023 |
Forecast Year |
2024-2036 |
CAGR |
~ 12% |
Base Year Market Size (2023) |
~ USD 1.2 Billion |
Forecast Year Market Size (2036) |
~ USD 4.7 Billion |
Regional Scope |
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Product Type (Antennae & Connectivity Modules, Sensors, Connectors & Switches, Lighting Systems)
The sensor segment is estimated to hold 47% share of the global molded interconnect device market by 2036. Sensors play a crucial role in various industries, including industrial and automotive. The use of temperature sensors, pressure sensors, and other types of sensors is extensive in industrial applications. In totality, the sensor segment garnered USD 22.4 billion in the year 2022. In the automotive sector, sensors are used in adaptive cruise control systems and climate control-related applications. Moreover, the increasing use of Molded Interconnect Device (MIDs) in these applications is driving up the demand for MID sensors during the forecast period. The integration of sensors in these sectors is improving performance, efficiency, and safety. All these factors are cumulatively provided for the market’s growth.
Application (Telecommunications & Computing, Consumer Electronics, Automotive, Medical, Industrial, Military & Aerospace)
The telecommunication and computing segment in the MID market is estimated to hold the majority revenue share. The strong need for sophisticated electronic circuits that enable the development of 5G devices with low signal loss is attributed to the segment's growth. Electronic businesses, such as Cicor Group, have been working to create MID gear that uses liquid crystal polymers in order to facilitate the high-frequency transmission of 5G signals. 5G had 1.1 billion subscriptions worldwide as of June 2024; 125 million more had been added in just the first quarter. Thirty-five service providers have introduced 5G Standalone (SA) networks, while about 240 service providers have built 5G networks. There are more than 700 5G smartphone models available to consumers as of early 2024, this has a prospective effect on the segment’s growth.
Our in-depth analysis of the global molded interconnect device (MID) market includes the following segments:
Product Type |
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Application |
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Process |
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North American Market Forecast
North American molded interconnect device market is expected to hold a significant revenue share accounting for 45%, owing to technological innovation and industrial advancement. With a strong presence in key sectors like automotive, healthcare, aerospace, and consumer electronics, the region showcases a robust demand for sophisticated, miniaturized, and integrated electronic solutions. The automotive industry, in particular, embraces MID technology for advanced functionalities in sensors, control systems, and compact electronic components, driving innovation within the sector, Additionally, North America’s emphasis on technological prowess and R&D investments fosters the development of cutting-edge materials and manufacturing techniques crucial for MID production. Collaborations between leading tech firms, research institutions, and manufacturers fuel the region’s MID market growth, contributing to the creation of versatile and high-performance solutions. The market’s focus on quality, compliance with stringent regulations, and a penchant for eco-friendly manufacturing processes further solidifies North America’s position as a pivotal hub for MID innovation and market expansion.
APAC Market Statistics
Asia Pacific MID market thrives as a dynamic hub for technological innovation and industrial growth. With a burgeoning demand for compact, multifunctional electronic components across diverse industries, including automotive, consumer electronics, healthcare, and telecommunications, the region witnesses significant MID adoption. Boasting robust manufacturing capabilities, countries like Japan, China, South Korea, and Taiwan spearhead MID development, leveraging advanced materials and cutting-edge manufacturing processes. The automotive sector’s evolution towards electric and autonomous vehicles, coupled with the surge in demand for IoT devices and wearables, propels the MID market’s expansion. Further, Collaborations between global players and local manufacturers, combined with a focus on sustainability and regulatory compliance, bolster the Asia Pacific molded Interconnect Device market’s growth trajectory, shaping it into a pivotal region for MID innovation and adoption.
Author Credits: Abhishek Verma, Hetal Singh
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