Global Molded Interconnect Device Market, By Product Type (Antennae and Connectivity Modules, Sensors, Connectors and Switches, Lighting and Others), Process Type (Laser Direct Structuring, Two-shot Molding, Others), End Users (Automotive, Consumer Products, Healthcare, Industrial, Military and Aerospace, Telecommunication and Computing, and Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2025
Market Analysis: Global Molded Interconnect Device Market
The Global Molded Interconnect Device Market is expected to reach USD 2119.85 million by 2025, from USD 786.21 million in 2017 growing at a CAGR of 13.2% during the forecast period of 2018 to 2025. The upcoming market report contains data for the historic year 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Market Definition: Global Molded Interconnect Device Market
Molded interconnected devices refer to devices interconnected to or molded with circuits to perform functions other than the devices primarily made for. For instance, the calling feature in the steering wheel, the function is made available by interconnecting systems of a headset and subsequent circuits being molded in the steering wheel of the car. With continuous innovation and desire for new technology, the number of patents in molded interconnect devices (MID) has seen a two fold increase since 2010. Back in 20th century MID’s hailed as breakthrough innovation but failed drastically, today with cost optimization and new process along with materials and emergence of new technologies, it is easier for MIDs and manufacturers to penetrate in the market. With an increase in the penetration of automation around all industrial verticals and decreasing size of sensors or miniaturisation of semiconductors and electronics, there is a need for molded interconnected devices at an increasing pace. Laser Direct Structuring alone is estimated to surpass USD 350 million till the forecast period.
As per survey conducted by Statista, the number of connected installed devices in 2017 was at 20.35 billion while with current trends and increasing adaption the same is forecasted to surpass 75.44 billion by 2025. The total sale in the automotive industry was valued to be 81.5 million units.
Major Market Drivers and Restraints:
- High trends of wearable devices and its penetration in the market.
- Increasing focus on reducing electronic wastes.
- Increasing usage of MID in healthcare.
- Internet of Things (IoT) and its growing demand among industries.
- High costs of raw materials and tooling.
- Extent of incompatibility with other electronic systems.
Market Segmentation: Global Molded Interconnect Device Market
- The global molded interconnect device market is segmented based on product type, process type, end users, and geographical segments.
- Based on the product, the market is further segmented into antennae and connectivity modules, sensors, connectors and switches, lighting and others.
- Based on process, the market is further segmented into laser direct structuring, two-shot molding, others.
- Based on end users, the market is further segmented into automotive, consumer products, healthcare, industrial, military and aerospace, telecommunication and computing, and others.
- Based on geography the market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and Brazil among others.
Competitive Analysis: Global Molded Interconnect Device Market
The global molded interconnect device market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of global molded interconnect device market for global, Europe, North America, Asia Pacific and South America.
Harting has collaborated with Ticona on developing antennas, security applications, commercial sensors etc. Recently DuPont has come up with a palladium doped 2-shot molding in MID.
Major Market Competitors/Players: Global Molded Interconnect Device Market
Some of the major players operating in the global molded interconnect device market are MacDermind Inc., Molex Llc, LPKF, TE Connectivity, HARTING Technology Group, Arlington Plating Company, Johnan America Inc., MID Solutions GmbH, LaserMicronics, Yomura, TactoTek Corporation, DowDuPont (The Dow Chemical Company, DuPont), Multiple Dimensions AG, Galtronics USA ltd., Teprosa GmbH, Cicor Management AG, 2E Mechatronic, RTP Company, TONGDA Group, and S2P Smart Plastic Products S2P among others.
Research Methodology: Global Molded Interconnect Device Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.