Molded Interconnect Device (MID) Market Size & Share, by Product Type (Antennae & Connectivity Modules, Sensors, Connectors & Switches, Lighting Systems); Application (Telecommunications & Computing, Consumer Electronics, Automotive, Medical, Industrial, Military & Aerospace); Process (Two-shot molding, Laser Direct Structuring) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

Growth Drivers

• Growing technological advancements in automotive industry - The automotive sector heavily relies on MIDs for various applications, such as automotive sensors, lighting, and control systems. As per estimates, it is anticipated that the global automotive sensor industry will surpass USD 55 billion by 2025. With the rise of electric vehicles (EVs), autonomous driving technology, and the need for more compact and lightweight components, MIDs are becoming increasingly indispensable in this sector.
• Rising trend of miniaturization products - As electronic devices continue to shrink in size while increasing in functionality, there’s a growing demand for compact, MIDs that enable the integration of multiple functionalities into smaller spaces, aligning with the miniaturization trend.
• Evolution of consumer electronics - The demand for smaller, sleeker, and more functional consumer electric devices (smartphones, wearables, etc.) drives the need for MIDs. These devices require intricate circuitry and functional design integration, which MIDs facilitate efficiently. In total, the consumer electronics sector brought in around USD 987 billion in revenue in 2022. This propelled the MID market .
• Innovations in medical industry - The healthcare industry leverage MIDs for various applications, including wearable medical devices, monitoring systems, and implantable devices. The need for smaller, more reliable, and customized solutions in the medical field fuels the growth of MIDs. For instance, Pacemaker makers, including Boston Scientific and Medtronic, were among the first in the medical field to adopt C-MOS technology to integrate digital and analog signals into a single-chip device. This enhanced the device's analysis and control capabilities while decreasing its size and weight. Soon, chip design methods akin to those employed in the creation of compact, lightweight, and potent consumer and military goods were applied to the design of digital medical devices, ranging from defibrillators to stethoscopes. Since then, there has been an increased trend toward shrinking processor chips, instruments, connectors, probes, and sensors built into medical equipment, propelling the market’s growth.

Challenges

• Cost Considerations- Initial setup costs for MID production can be significant due to the specialized equipment and technology required for manufacturing. This might make MIDs less cost-competitive, especially for smaller-scale productions or in industries with stringent cost considerations.
• Maintaining high-quality standards and reliability across batches poses a challenge in molded interconnect device manufacturing.
• Lack of standardized protocols might hinder broader adoption, especially in industries with stringent regulatory requirements.