Press release
Molded Interconnect Devices market detail Analysis on Top Key Players Molex, TE Connectivity, Harting Mitronics AG, SelectConnect Technologies, RTP Company, MacDermid Enthone, LPKF Laser & Electronics, Galtronics, Multiple Dimensions AG, Teprosa GmbH, Yom
Molded Interconnect Devices (MID) Market is expected to reach USD 840 million by 2024. The proliferation of the smart & connected wearable devices across the globe is driving the industry growth. These components allow lesser energy consumption and help in enhancing the battery life of the wearable devices, which is beneficial to the users. Moreover, these components further help in reducing the overall of the wearable devices. The wearables are increasingly being consumed in medical activities to detect the patient’s heart rate, body temperature, and the blood level on a regular basis, which is anticipated to drive the MID market growth.
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Players operating in the MID market include Molex, TE Connectivity, Harting Mitronics AG, SelectConnect Technologies, RTP Company, MacDermid Enthone, LPKF Laser & Electronics, Galtronics, Multiple Dimensions AG, Teprosa GmbH, Yomura, and Suzhou Cicor Technology Co., Ltd. Manufacturers in the industry are focusing on minimizing the component size to cater to the consumer segment demands. Several major players are incorporating strategic alliances and partnerships with consumer electronics manufacturers for supplying raw materials in bulk quantities.
In the MID market, the Laser Direct Structuring (LDS) process segment is anticipated to gain traction over the coming years owing to the ease of processing and low development & tooling costs associated with the manufacturing processes. It consists of a one-step process that integrates plastic creation on the device and enhances the component performance. The MID market is driven by benefits provided by the LDS processes such as the elimination of hazardous chemical pre-treatment and lesser environmental impacts over the legacy processes.
The healthcare sector in the MID market is predicted to dominate owing to the growing use of these components in devices such as blood pressure monitors, glucose meters, and oxygen meters that enables improved patient diagnostics. The 3D assemblies of components in medical devices help in enhancing the circuit designs and minimizing the size. These are increasingly being used by dentists and medical pathology labs, thereby driving the MID market growth.
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The surge in the use of consumer electronic devices including smartphones, tablets, and televisions is anticipated to drive the MID market growth. These components are increasingly integrated into the smart devices owing to their reduced size and energy-saving features. The antenna integrated components provide enhanced mechanical and electronic enclosure development to the manufacturers.
The incorporation of the components into the smartphone devices helps in improving the functionality and productivity. They help in minimizing the total parts in a circuit, thereby reducing the assembly time, saving space, and reducing costs for intricated functions, which are projected to drive the implementation and usage of the components in several applications.
Complete report for 2018-2024 on Molded Interconnect Devices market is now available at https://www.marketstudyreport.com/reports/molded-interconnect-devices-mid-market
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