Molded Interconnect Device Market Expands with Laser Direct Structuring Segment at a robust CAGR of 12.73% through 2029

The increasing global molded interconnect device market is driven by miniaturization and space efficiency, improved electrical performance during the forecast period 2025-2029.

According to TechSci Research report, “Molded Interconnect Device Market - Global Industry Size, Share, Trends, Opportunity, and Forecast 2019-2029F", Global Molded Interconnect Device Market was valued at USD 3.53 Billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR 12.73% through 2029.

Sustainability and eco-friendliness are becoming major drivers in the global MID market. MIDs offer several advantages in this regard. They can be manufactured using recyclable plastics and environmentally friendly materials, reducing the overall environmental footprint of electronic devices. Additionally, MIDs can lead to reduced energy consumption, contributing to energy efficiency and sustainability goals. The automotive industry is a significant beneficiary of this driver, as it aligns with the industry's commitment to reducing emissions and promoting sustainability. MIDs can contribute to lighter vehicle components, improving fuel efficiency in conventional vehicles and extending battery life in electric vehicles.

As MIDs continue to gain traction, the industry faces challenges related to intellectual property (IP) protection and standardization. The unique design and manufacturing processes of MIDs can make it challenging to protect intellectual property, leading to concerns about design theft or unauthorized replication. Standardization is also an issue, as there are no universally accepted standards for the design and production of MIDs. This lack of standardization can hinder interoperability and make it difficult for companies to switch between suppliers or technologies seamlessly.

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The global molded interconnect device market is segmented into process, application, and region. 

Based on application, Automotive dominated in the global Molded Interconnect Device market in 2023. Automotive segment dominates in the global molded interconnect device market in 2023. Modern vehicles are increasingly equipped with Advanced Driver Assistance Systems (ADAS) to enhance safety and driving comfort. MIDs play a pivotal role in ADAS applications, providing the required compact and highly integrated electronic solutions. Components like radar sensors, lidar sensors, and camera modules are integrated into the vehicle's exterior, all made possible by MIDs. These systems require precise circuitry, miniaturized components, and compatibility with diverse materials all areas where MIDs excel. Infotainment systems have become a standard feature in today's vehicles, and MIDs contribute to their design and functionality. From touchscreen controls to integrated displays and control panels, MIDs allow for streamlined and aesthetically pleasing designs while accommodating a broad range of electronic functions. The automotive industry's relentless focus on improving infotainment systems drives the demand for MIDs. Space constraints in vehicles are a crucial consideration for automotive manufacturers. MIDs offer an ideal solution by enabling electronic components to be integrated directly into structural parts of the vehicle. This space-efficient design is essential in modern vehicles, where interior and exterior space must be maximized for passenger comfort and functionality. Weight reduction is a constant pursuit in the automotive industry, aiming to improve fuel efficiency and reduce emissions. MIDs contribute to this objective by eliminating the need for additional substrates and connectors, resulting in lighter vehicle components. In electric vehicles (EVs), reduced weight can extend the range of the vehicle between charges, making MIDs even more attractive.

North America emerges as the fastest-growing region in the global Molded Interconnect Device (MID) market due to several key factors driving its expansion. North America boasts a robust and dynamic electronics industry, characterized by significant innovation, technological advancements, and a strong emphasis on research and development. This conducive environment fosters the rapid adoption and integration of emerging technologies, including MIDs, across various sectors such as automotive, healthcare, consumer electronics, and telecommunications. North America is home to a plethora of leading automotive manufacturers, technology companies, and healthcare institutions that heavily invest in the development and deployment of advanced electronic solutions. The automotive sector, in particular, has witnessed a surge in the adoption of MIDs to enable innovative functionalities in vehicles, such as advanced driver assistance systems (ADAS), infotainment systems, and integrated connectivity features. The healthcare industry in North America is increasingly leveraging MIDs to enhance medical device functionality, improve patient monitoring systems, and streamline diagnostic procedures. Furthermore, North America's strong focus on sustainability, coupled with stringent regulatory frameworks promoting environmental consciousness and product efficiency, has propelled the demand for eco-friendly and energy-efficient electronic solutions like MIDs. As organizations across the region strive to reduce their carbon footprint and enhance operational efficiency, MIDs emerge as a viable option due to their compact design, lightweight construction, and potential for material optimization.

Key market players in the global Molded Interconnect Device market are: -

• Molex, LLC
• TE Connectivity Ltd.
• Amphenol Corporation
• LPKF Laser & Electronics SE
• Taoglas Limited
• HARTING, Inc.
• M.I.D Solutions Pty Ltd
• 2E Mechatronic GmbH & Co. KG
• Kyocera AVX
• JOHNAN Group

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“The demand for customization and rapid prototyping is growing in various industries, and MIDs are well-suited to meet this demand. Manufacturers are increasingly seeking cost-effective and efficient ways to create prototypes and customized electronic solutions. MIDs offer a flexible platform for the rapid development and customization of electronic components, allowing businesses to innovate and iterate quickly. MIDs enable the integration of circuits and mechanical elements in a single 3D component, making it easier to design and produce prototypes with reduced assembly steps. This trend is especially significant in industries like medical devices, where customized solutions for patient-specific applications are gaining traction”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Molded Interconnect Device Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Process (Laser Direct Structuring, Two-Shot Molding), By Application (Automotive, Consumer Products, Healthcare, Industrial, Military & Aerospace, Telecommunication, Others), By Region and Competition, 2019-2029F”, has evaluated the future growth potential of Global Molded Interconnect Device Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Molded Interconnect Device Market.

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