Molded Interconnect Devices Market for LDS Segment to Record CAGR of 15% Over Forecast Timespan | Key Players are MacDermid Enthone, Harting Mitronics, Molex, SelectConnect, RTP, LPKF Laser & Electronics, Galtronics, Multiple Dimensions AG

LDS molded interconnect devices market is expected to grow at a CAGR of over 15% over the forecast timespan. 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.

Molded Interconnect Devices 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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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.
Molded Interconnect Devices Market have gradually become the prime circuitry solution choice in the automotive and electronics industry, owing to its easy assembling, smaller circuitry. and light weight when compared to conventional PCB circuits. It is prudent to mention that the eco-friendly tag that these devices carry is one of the major factors fueling the Molded Interconnect Devices Market growth worldwide. These devices reportedly incorporate thermoplastic materials that are recyclable and do not involve hazardous manufacturing processes
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In the Asia Pacific Molded Interconnect Devices Market, countries including China, Japan, and South Korea are expected to witness several growth opportunities owing to the presence of major consumer electronics manufacturers. These components enable ease of processing and low energy consumption thereby benefiting the manufacturing companies. Growth in the disposable income and increased spending capacity of consumers in the Asia Pacific region are further providing an impetus to the MID market growth. Penetration and presence of several raw material suppliers and the growth in the export activities from these countries account for large revenue shares in the industry.

The technology company with an expansive product portfolio comprising portable electronic devices that are more compact and reliable is an ideal target consumer for the Molded Interconnect Devices Market. China also boasts of other domestic tech companies who have recently began dominating the smartphone market owing to their competitive sleek devices, the One Plus flagship line being an example of this phenomenon. Not to mention, the region being a key automotive manufacturing hub hosting the presence of many international and domestic brands also adds to its strong contendership in the global Molded Interconnect Devices Market fraternity.

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Players operating in the Molded Interconnect Devices 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.

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