Integrated Passive Devices Market in Asia Pacific to grow at the highest CAGR during the forecast period

In this research report, the integrated passive devices (IPD) market has been segmented on the basis of material, passive devices, application, wireless technology, end use industry, and geography. This market is expected to witness a significant growth during the forecast period. The IPD market is expected to be valued at USD 1,544.9 million by 2023, growing at a CAGR of 8.8% between 2018 and 2023.

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Major factors driving the growth of the IPD market include increasing adoption of IPD in consumer durables, integration of IPDs in Rf applications, and increasing demand for miniaturized and high-performance electronic devices. The growth of the IPD market is propelled by continuous innovations and the introduction of advanced and efficient technologies in the electronics industry. The increasing incorporation of infotainment and navigation features, such as global positioning system (GPS), in automobiles is supporting the market growth.

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Rise in the use of IPD in the wearable industry is expected to boost the IPD market during the forecast period. To develop products such as baluns, filters, and diplexers compatible with 5G, it would be essential to integrate IPDs in these products. The integration of IPDs would help in reducing the size and power consumption of telecom infrastructure products, which would boost the IPD market in the coming years, especially in the telecom industry.

In the passive devices segment, the IPD market for filter is expected to grow at a higher CAGR during the forecast period. Filter is used in ESD/EMI, RF IPD, and other applications. Companies such as Murata, Stats ChipPAC, and On Chip Devices are offering different types of filters that integrate various functions required by wireless and consumer applications, such as ESD protection diodes, EMI low pass filters, line terminations, and pull-up or pull-down resistors.

In the material segment, the IPD market for glass is likely to grow at a high CAGR during the forecast period. During the manufacturing process, glass wafer does not heat up as much as other materials. Moreover, glass is being integrated into RF IPD products manufactured by STMicroelectronics (Switzerland), Murata (Japan), Qorvo (US), and others.

Among all regions, Asia Pacific (APAC) is expected to be the fastest-growing market for IPD during 2018-2023. Asia Pacific is expected to offer lucrative opportunities for the IPD market because of the growing base for communication infrastructure, communication devices, and consumer electronics. The trend of miniaturization of components of smartphones and wearables will drive the IPD market in this region.

Mr. Sanjay Gupta
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MarketsandMarkets(TM) provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets(TM) for their painpoints around revenues decisions.

This release was published on openPR.