Molded Interconnect Device (MID) Market is segmented By Product Type (Antennae & Connectivity Modules, Connectors & Switches, Sensors, Lighting, and Others), and By Industry Vertical (Telecommunications, Consumer Electronics, BFSI, Military & Aerospace, Industrial, Healthcare, Automotive, and Others) and Region (United States, Canada, Mexico, South America, France, Germany, Italy, Spain, United Kingdom, Russia, China, India, Philippines, Malaysia, Australia, Austria, South Korea, Middle East, Japan, South Africa, Rest of World)
Molded Interconnect Device (MID) Market size was estimated at $1,008.06 million in 2020 and is expected to reach $2,794.41 million by 2028, growing at a CAGR of 15.68% during the forecast period of 2021 to 2028.
Molded interconnect devices (MIDs) are thermoplastic, injection-molded components that have an integrated electrical circuit. These three-dimensional electromechanical components are molded with circuits using high-temperature thermoplastics and structural metallization, providing the electronics industries with a new dimension of carrier integrated circuits.
These molded devices are being used in the electronics industry to replace the standard antenna stub on cell phones. By incorporating an internal antenna into the phones internal fittings, volume is reduced through optimal space usage. It is used in conjunction with internal components of smart wearable devices like circuit boards, connectors, and cables in the consumer electronics industry because it decreases assembly line and total product weight and offers cost-effective features, hence optimizing additional expenses.
Temperature, motion, pressure, and flow sensors are all examples of industrial applications. MID-based sensors are placed in-vehicle applications such as cruise control, central locking, and temperature control. Molded interconnect devices are designed to deliver increased performance in a lower package size by merging improved connection methods, electronics, and software advancements to add value to consumers. The in-vehicle connections, connectors, and media modules are secure, dependable, and capable of operating across numerous system networks due to their greater bandwidth and signal integrity.
MID is utilized in a variety of automotive applications, including steering wheel hubs and brake sensors since it simplifies wiring and integrates the connection and housing into one piece. It includes all necessary electronics by selective plating and contributes to the reduction of e-waste. MID miniaturized devices, that contributes to the total sensor systems weight reduction and functionality enhancement, resulting in reduced costs end-use devices. Sensors will increasingly employ MID, which will continue to fuel the MID markets development in the future years.
Molded Interconnect Device (MID) Market Growth and Trend
The growing demand for compact electronic devices is expected to expand the market potential for MIDs in the electronics industry. In smartphones, these molded devices will minimize the volume and maximize space efficiency by substituting an inside antenna for the standard antenna stub. As a result, the growing demand for phones, laptops, and tablets will generate a considerable potential for the market for molded interconnect devices in the future years. Producers of these portable gadgets are concentrating their efforts on cramming several functionalities into compact containers, which is fueling the market growth.
The increased acceptance of tiny, molded interconnect devices in smartphones, tablets, and other smart gadgets, along with a rise in automotive applications like sensors switches, and smart LED light fixtures, are the key drivers of the molded interconnect device (MID) market. However, a shortage of skilled labor due to the high level of technical skills required for production, the high price of tooling and raw materials, and the extent to which molded interconnect devices are incompatible with other electrical components are some of the factors impeding the growth of the molded interconnect device market.
Molded Interconnect Device (MID) Market Segmentation
The Molded Interconnect Device (MID) market is segmented by product type and industry vertical. Based on product type, the market consists of antennae & connectivity modules, connectors & switches, sensors, lighting, and others. Based on industry vertical, the market is divided into telecommunications, consumer electronics, BFSI, military & aerospace, industrial, healthcare, automotive, and others.
Molded Interconnect Device (MID) Market Country Analysis
APAC is likely to provide attractive prospects for the expansion of the MID market, owing to the expanding base of communication infrastructure, digital devices, and electronics. APAC is a critical market for participants in the smartphone and wearable device industries. The trend toward component downsizing in smartphones and wearables will fuel the MID industry in this area. China is estimated to be the largest contributor to the growth of the molded interconnect devices market in the Asia Pacific over the projected period. A variety of research and development applications, such as the use of molded interconnect device advancements, may present growth opportunities for the market. North America is expected to grow at a rapid pace because US-based technical behemoths such as Google, Apple, and others are updating and extending their product lines. South America and the Middle East and Africa are predicted to develop at a slower rate than other regions in the molded interconnect devices market.
Molded Interconnect Device (MID) Market Share and Competition
The major players operating in the global Molded Interconnect Device (MID) market are Molex, TE Connectivity, LPKF, HARTING, JOHNAN, APC, MID Solutions, Multiple Dimensions, and 2E mechatronic.
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• Estimation/projections/forecast for revenue and unit sales (2021 – 2028)
• Data breakdown for every market segment (2021 – 2028)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
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• Client list and case studies
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Industry Segmentation and Revenue Breakdown
Product Type Analysis (Revenue, USD Million, 2021 - 2028)
• Antennae & Connectivity Modules
• Connectors & Switches
Industry Vertical Analysis (Revenue, USD Million, 2021 - 2028)
• Consumer Electronics
• Military & Aerospace
Region Analysis (Revenue, USD Million, 2021 – 2028)
• North America
o United States
• South America
o United Kingdom
• Asia Pacific
o South Korea
• Middle East
o GCC C ountries
o South Korea
• South Africa
• Rest of World
Molded Interconnect Device (MID) Market Companies
• TE Connectivity
• MID Solutions
• Multiple Dimensions
• 2E mechatronic.
• United States Molded Interconnect Device (MID) Industry Research Report
• Europe Molded Interconnect Device (MID) Industry Research Report
• Asia Pacific Molded Interconnect Device (MID) Industry Research Report
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