Published Date: 23-Sep-2022
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According to a new report, published by KBV research, The Global Molded Interconnect Device (MID) Market size is expected to reach $2.9 billion by 2028, rising at a market growth of 13.9% CAGR during the forecast period.
The Sensors market is poised to grow at a CAGR of 13.6% during (2022 - 2028). The MID sensor has applications in the industrial and automotive sectors. MID is used in industrial applications such as temperature sensors and pressure sensors, among others. Sensors have applications in adaptive cruise control systems & climate control-related applications as automotive technology advances.
The Laser Direct Structuring (LDS) market has highest market share in the Global Molded Interconnect Device (MID) Market by Process in 2021, thereby, achieving a market value of $1.6 billion by 2028. MIDs are manufactured using LDS equipment. LDS is made up of several steps, including injection molding, laser activation, and assembly. The sole manufacturer of laser direct structuring equipment is LPKF Laser & Electronics. The LDS process consists of three steps. The antenna is first molded in a standard single-shot mold with one of the LDS resins.
The Telecommunications market would showcase a CAGR of 13.7% during (2022 - 2028). MID integrates mechanical and electrical functions into a single product, reducing production time and cost while increasing the reliability and efficiency of various telecom and computing devices. The proliferation of 5G technology is driving the growth, as it increases demand for various connectivity devices accelerating the market potential for MID providers.
The Asia Pacific market is leading the Global Molded Interconnect Device (MID) Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.1 billion by 2028, growing at a CAGR of 14.2 % during the forecast period. The Europe market is exhibiting a CAGR of 13.7% during (2022 - 2028). Additionally, The North America market would witness a CAGR of 13.4% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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