May 15, 2020
According to the research report titled ‘Molded Interconnect Devices (MID) Market Size By Process, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, global molded interconnect devices (MID) market is estimated to generate lucrative returns during 2020-2026.
Molded interconnect devices (MID) are 3-D electromechanical parts which combine the best of both mechanical and electrical engineering. These devices include the housing, circuit boards, connectors and cables containing conventional product interfaces and incorporate them into one compact and functional component. Shifting preferences towards molded interconnect devices while replacing various parts in circuit-boards is fueling the market size.
Increasing utilization of MID across telecommunications industry in applications such as internal antennas in cellphones is also stimulating the industry outlook. Moreover, the product is used in brake light fixtures in automotive applications. Molded interconnect devices help in minimizing the number of components as well as in reducing the cost. These devices are designed to be self-supporting, thereby eliminating additional mechanical parts needed to support PC boards, which further helps in reducing the assembly and installation time.
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As per process type, the others segment, which comprises of film insert molding, accounted for 8% market share in 2019 and is poised to witness lucrative growth in the subsequent years. This process provides better durability with scratch resilient hard coats.
Worldwide molded interconnect devices market share from consumer products application segment is predicted to expand with a CAGR of 14% through 2026. Trending sleeker designs in consumer electronics is favoring the market scenario. MID improves the aesthetic appeal of a mobile phone owing to its flexibility. Rising adoption of wireless products is fostering the demand for molded interconnect devices.
Considering the geographical landscape, molded interconnect devices market in Middle East & Africa accounted for 8% market share in 2019 and is set to acquire noticeable returns in the forthcoming years. Rising penetration of mobile as well as handheld devices is swaying the business dynamics in the region.
Yomura Technologies Inc., Tongda Group, TEPROSA GmbH, TE Connectivity, Suzhou Cicor Technology Co. Ltd., SelectConnect Technologies, S2P (Smart Plastic Products), RTP Co., Multiple Dimensions AG, Molex LLC, LPKF Laser & Electronics AG, Harting Technology Group, Galtronics Corp. and Amphenol Corp. are the major contenders in molded interconnect devices industry.