Press release
Molded Interconnect Devices (MID) Market 2018 - 2024 Outlook by Molex, TE Connectivity, BASF, DSM, Evonik, LANXESS
Molded Interconnect Devices (MID) Market
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These devices enable the combination of mechanical components and electrical circuits on three-dimensional thermoplastic materials. The technology allows to integration of chips directly with their assemblies, saving space and facilitating miniaturization. For instance, the smartphone antennas can be installed directly within the housing with the help of the devices.
Some of the prominent players profiled in the report include Galtronics Corporation Ltd., LPKF Laser & Electronics AG, Molex,RTP Company, TE Connectivity, BASF, DSM, EMS-GRIVORY, Ensinger GmbH,Evonik, LANXESS, RTP Company
The products can be manufactured with fewer assembly steps as compared to the traditional PCB manufacturing and offer a high degree of freedom to circuit designers. Integration of sensors and functions reduces assembly time and production steps, resulting in high-quality components and optimization of supplementary costs. These factors are anticipated to positively impact the MID market growth over the coming years.
A major trend driving the molded interconnect devices market is the implementation of the devices for LDS in the automotive industry. These devices are used for reducing vehicle weight and increasing reliability owing to the benefits such as the elimination of circuits boards and wired circuitry. Rapid technological advancements in seatbelt safety system, position sensors, brake sensors, motorcycle LED lights, steering wheel hubs, and control switches are generating several opportunities for the industry growth.
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Moreover, the devices provide video-based driving assistance by using vehicle camera systems, thereby strengthening the driver safety. Vehicle tracking systems are majorly implementing these devices in the LED displays and monitors to assist parking and traffic situations and monitor the driving behavior. Design flexibility and low cost of the solution are expected to drive the growth of the automotive molded interconnect device market.
LDS molded interconnect devices market is expected to grow at a CAGR of over 15% over the forecast timespan. Several industrial and aerospace & defense manufacturers are developing compact and advanced models by integrating mechanical & electrical functions in a single product. This helps manufacturers to save production costs and offer aesthetically-improved features along with the reduction in their production times.
The Asia Pacific MID market is projected to exceed USD 400 million by 2024. Strong growth in the region can be attributed to the presence of several companies including Samsung Electronics, Co., Ltd. and Sony Corporation. These companies are expanding and upgrading their product portfolio thereby offering several opportunities for vendors operating in the molded interconnect devices market. Several players in the region are also entering into collaborations for the development of new technologies.
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They are offering high-end products at competitive prices and are adopting aggressive marketing strategies. The exponential advancements in the technology and increasing commercialization of several innovative products have resulted in high growth prospects thereby attracting more players to the MID market.
The global molded interconnect devices market is dominated by a few prominent vendors including MacDermid Enthone, Molex, LPKF Laser & Electronics, TE Connectivity, Harting Mitronics AG, SelectConnect Technologies, and RTP company. Rising investments in the research & development for expanding MID applications would provide opportunities for industry growth.
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URL: - https://www.marketwatch.com/press-release/mobile-virtual-network-operator-mvno-market-in-terms-of-growth-potential-competitive-market-share-and-technology-evolution-by-2024-2019-01-09
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