Press release
Molded Interconnect Device (MID) Market on Track for Strong Growth, Estimated to Grow at 15.4% CAGR Through 2029
Molded Interconnect Device (MID)
What Is the Expected CAGR for the Molded Interconnect Device (MID) Market Through 2025?
The market size of the molded interconnect device (mid) has experienced swift expansion in the past few years. Predictions suggest this will increase from $1.75 billion in 2024 to $2 billion by 2025, yielding a compound annual growth rate (CAGR) of 14.4%. Historical growth is largely rooted in factors such as the trend towards miniaturization, transformations within consumer electronics, advancements in automotive electronics, innovative contributions to medical devices, and a shift towards intelligent manufacturing.
What's the Projected Size of the Global Molded Interconnect Device (MID) Market by 2029?
The market size for molded interconnect devices (mid) is projected to experience fast-paced expansion in the coming years, with predictions placing its worth at $3.55 billion by 2029, showing a compound annual growth rate of 15.4%. This forthcoming growth during the forecast period can be connected to the continual advancements in consumer electronics, the escalation in the integration of medical devices, the expansion of automotive electronics, and the swift progress in prototyping and manufacturing innovations. Noteworthy trends expected during this forecast period range from regulatory compliance and quality standards, customization and design elasticity, fast prototyping and developing technologies, sustainability and material advancements, to industry 4.0 and smart manufacturing.
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Top Growth Drivers in the Molded Interconnect Device (MID) Industry: What's Accelerating the Market?
The surging requirement for IoT devices is predicted to fuel the expansion of the molded interconnect devices market. IoT devices are billions of tangible things connected to the internet, all of which collect and share data with other devices and systems online. The escalating need for the Internet of Things (IoT), quantum computing, and 5G, alongside other budding technology segments, teamed with the increasing demand of the connected world for higher computational speed and efficiency, low-energy devices, and intelligent chipsets, have greatly influenced the dynamics of the semiconductor & electronics industry. For example, a Techjury blog published in August 2022, drawing from IoT Analytics, reported that the divisions with the maximum actual company IoT projects under progress included Smart City (23%), Connected Industry (17%), and Connected Building (12%). Additionally, 97% of companies find it difficult to create value from data linked to IoT. Hence, the burgeoning demand for IoT devices will stimulate the molded interconnect devices market.
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Which Emerging Trends Are Transforming the Molded Interconnect Device (MID) Market in 2025?
The principal trend increasingly embraced in the molded interconnect device market is technological advancement. Larger corporations within the molded connective devices industry are zeroing in on innovating sophisticated technological solutions capable of versatility, paving the way for the blossoming of technologies like laser plastic welding. For instance, the Saudi Arabian chemical firm SABIC, renowned for its chemicals, plastics, agri-nutrients, and metals production, introduced the LNP THERMOCOMP OFC08V compound in April 2022. This compound acts as a high-performing solution for 5G base station dipole antennas as well as diverse electronic and electrical applications. Made from polyphenylene sulfide (PPS) resin, this glass fiber-strengthened compound is designed to support lightweight and economical all-plastic antenna designs. It showcases peak performance in Laser Direct Structuring (LDS) plating, offering superior adhesion between layers, efficient warpage control, and dependable dielectric and radio frequency (RF) characteristics.
What Are the Main Segments in the Molded Interconnect Device (MID) Market?
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
Subsegments:
1) By Antenna And Connectivity Modules: Integrated Antennas, RF Modules
2) By Connectors And Switches: Electrical Connectors, Mechanical Switches
3) By Sensors: Temperature Sensors, Pressure Sensors, Proximity Sensors
4) By Lighting: LED Lighting Modules, Decorative Lighting Solutions
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Which Top Companies are Driving Growth in the Molded Interconnect Device (MID) Market?
Major companies operating in the molded interconnect device (MID) market 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, Yomura Technologies Inc., T-Ink Inc., ODU GmbH & Co. KG
Which Regions Will Dominate the Molded Interconnect Device (MID) Market Through 2029?
Asia-Pacific was the largest region in the molded interconnect device (MID) market share in 2024. 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.
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