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Molded Interconnect Device (MID) Market 2024 Industry Insights, Business Growth, Trends And Forecast To 2033
Molded Interconnect Device (MID) Market
Molded Interconnect Device (MID) Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $3.13 billion In 2028 At A CAGR Of 16.6% :
The molded interconnect device (mid) market size has grown rapidly in recent years. It will grow from $1.51 billion in 2023 to $1.77 billion in 2024 at a compound annual growth rate (CAGR) of 17.2%. The growth in the historic period can be attributed to miniaturization trends, consumer electronics evolution, automotive electronics development, medical device innovations, shift towards smart manufacturing.
The molded interconnect device (mid) market size is expected to see rapid growth in the next few years. It will grow to $3.27 billion in 2028 at a compound annual growth rate (CAGR) of 16.5%. The growth in the forecast period can be attributed to ongoing evolution of consumer electronics, rise in medical device integration, automotive electronics growth, rapid prototyping and manufacturing innovations. Major trends in the forecast period include regulatory compliance and quality standards, customization and design flexibility, rapid prototyping and manufacturing technologies, sustainability and material innovations, industry 4.0 and smart manufacturing.
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Molded Interconnect Device (MID) Market Major Segments
The molded interconnect device (mid) market covered in this report is segmented -
1) By Product: Antenna and Connectivity Modules, Connectors and Switches, Sensors, Lighting
2) By Process: Laser Direct Structuring (LDS), Two-shot molding, Other Processes
3) By Application: Automotive, Consumer products, Healthcare, Industrial, Military and aerospace, Telecommunication And Computing
Key Driver - The Impact Of Surging Iot Demand On Molded Interconnect Devices Market
Growing demand for IoT devices is expected to propel the growth of the molded interconnect devices market going forward. IoT devices refer to the billions of physical items or things linked to the internet, all of which gather and exchange data with other devices and systems over the internet. The rising demand for the Internet of Things (IoT), quantum computing, and 5G, among other emerging technology segments, combined with the connected world's increasing demand for higher computational speed and efficiency, low-power devices, and intelligent chipsets, has had a significant impact on the semiconductor & electronics industry dynamics. For instance, in August 2022, according to a blog released by Techjury, collected from IoT Analytics. The categories with the most real corporate IoT initiatives in development included Smart City (23%), Connected Industry (17%), and Connected Building (12%) and 97% of firms believe that producing value from IoT-related data is challenging. Therefore, the growing demand for IoT devices will drive the molded to interconnect devices market.
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Prominent Trend - Revolutionizing Electronic Integration Through Lpkf's Cutting-Edge Welds Technology In Molded Interconnect Devices
Technological development is the key trend gaining popularity in the molded interconnect device market. Major businesses involved in molded connection devices are concentrating on creating cutting-edge technological solutions that are adaptable to other aspects, which is what is causing technologies like laser plastic welding to develop. For instance, in November 2021, LPKF Laser & Electronics, a German-based electronics manufacturing company, developed a new technology by combining LDS and laser plastic welding. The LPKF laser plastic welding technology produces aesthetically and functionally superior weld seams for durable and dependable plastic couplings with virtually no design constraints. LPKF has created WeLDS, a revolutionary technique that blends 3D MIDs and laser plastic welding. This opens up hitherto unseen possibilities for function integration in electronics applications.
Molded Interconnect Device (MID) Market Players
Major companies operating in the molded interconnect device (mid) market report are Molex LLC, TE Connectivity Ltd., Amphenol Corporation, LPKF Laser & Electronics AG, 2E mechatronic GmbH & Co. KG, Harting Technologiegruppe, Arlington Plating Company, MID Solutions LLC, MacDermid Inc., JOHNAN Corporation, TactoTek Oy, Axon' Cable S.A.S, S2P Solutions, Suzhou Cicor Technology Co. Ltd, Chogori Technology Co. Ltd., Mitsubishi Engineering-Plastics Corporation, Galtronics Corporation Ltd., RTP Company, BASF SE, EMS-Chemie Holding AG, Ensinger GmbH, Zeon Corporation, SelectConnect Technologies, Multiple Dimensions AG, Cicor Group, Tesa SE, APC Automotive Technologies LLC, Yomura Technologies Inc., T-Ink Inc., ODU GmbH & Co. KG
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the molded interconnect device (MID) market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the molded interconnect device (mid) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Molded Interconnect Device (MID) Market Report Structure
3. Molded Interconnect Device (MID) Market Trends And Strategies
4. Molded Interconnect Device (MID) Market - Macro Economic Scenario
5. Molded Interconnect Device (MID) Market Size And Growth
…..
27. Molded Interconnect Device (MID) Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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