The Europe Molded Interconnect Device (MID) Market would witness market growth of 13.7% CAGR during the forecast period (2022-2028).
During the forecast period, the prevalence of the Internet of Things and artificial intelligence technology in computing devices & smart wearables would accelerate the growth of the MID market. The growing usage of the LDS process for the production of 5G antennas, which also increases the speed as well as efficiency of wireless communication is a key factor driving demand for MIDs. The growing demand for IoT devices presents a tremendous opportunity for MID providers.
In addition, the three-dimensional electromechanical components are molded with circuits made of high-temperature thermoplastics & structured metallization, providing a new perspective on carrier circuit design to the electronics industry. In the consumer electronics industry, these molded components are used to substitute the tip on the internal antenna of mobile phones. The incorporation of an inside antenna into the phone's inner fittings saves volume by maximizing space efficiency. LDS technology is very effective at shortening the production cycle time because it requires fewer production steps.
The growing use of smartphones and the incorporation of advanced features have increased the demand for audio & video equipment. Because of the convenience and increase in disposable income, customers are shifting toward smart homes. Consumers can now control home appliances using simple voice commands because of improved connectivity, voice-enabled control, and speech recognition. This will help the consumer electronics sector grow in the coming years. The prevalence of smart home devices and the increasing home automation trend has resulted in an explosion of online devices.
The Germany market dominated the Europe Molded Interconnect Device (MID) Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $186.2 Million by 2028. The UK market would showcase a CAGR of 12.8% during (2022 - 2028). Additionally, The France market is estimated to grow at a CAGR of 14.5% during (2022 - 2028).
Based on Product Type, the market is segmented into Antennae & Connectivity Modules, Sensors, Connectors & Switches, Lighting Systems and Others. Based on Process, the market is segmented into Laser Direct Structuring (LDS), Two-Shot Molding and Film Techniques. Based on Vertical, the market is segmented into Consumer Electronics, Telecommunications, Automotive, Medical, Industrial and Military & Aerospace. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Molded Interconnect Device (MID) Market will Hit $2.9 Billion by 2028, at a CAGR of 13.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Molex, LLC (Koch Industries, Inc.), TE Connectivity Ltd., Taoglas, KYOCERA AVX Components Corporation (Kyocera Corporation), Amphenol Corporation, LPKF Laser & Electronics AG, HARTING Technology Group, MID Solutions GmbH, and 2E mechatronic GmbH & Co. KG
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