According to a recent study from Global Market Insights, Molded interconnect devices (MID) Market technology is increasingly gaining traction in automotive and consumer electronics applications owing to its space-saving circuitry. Electronics gadgets have become more compact than ever, owing to robust developments in semiconductor technology and consumer electronics over the past decade.
MID technology us being implemented by smartphone makers across the globe as it allows more features to be fit into smaller volumes, making the devices lighter and compact. The global molded interconnect devices market will exceed US$1 billion valuation by 2026, with a positive application outlook in automotive, electronics, and industrial sector. Expounded below are some of the major trends shaping the future of molded interconnect devices technology.
The laser direct structuring segment is likely to observe a growth rate of over 15% CAGR between 2020 to 2026 since it is being majorly adopted by OEMs owing to the eradication of hazardous chemical pretreatment during the metallization process. Numerous new vendors have further extended their capabilities of molding in order to include LDS process through the patented machinery offered by LPKF.
Furthermore, prototyping becomes faster and repeatable by just reprogramming the laser unit, thereby the low tooling costs and high degree of design freedom linked with LDS is expected to drive the segmental growth. LDS also offers various features like heat management for high-power LED, reliable contacting, precise positioning, and module which is thin & double-sided.
The industrial application segment is likely to register a CAGR of over 11% during the estimated time period owing to the rise of automation across factories. The molded interconnect devices market deliver reliability as well as high flexibility in order to function in taxing conditions, thereby increasing their adoption in industrial and manufacturing process. The demand for MID is pegged to further increase in industrial robots due to miniaturization of electronics & semiconductors and decreasing size of sensors.
Moreover, the use of MID in medical equipment is broadly seen in complex dental tools since they reduce the weight and diameter of the handpiece. The LDS process is also gaining prominence in automotive engineering due to rise in the demand for comfort and safety in passenger vehicles.The greatest advantage of molded interconnect devices perhaps is the minimal environmental impact. This can be associated with the use of recyclable thermoplastic materials in MID and the elimination of harmful flame retardation manufacturing process.
In North America, manufacturers are seeking ways to implement advanced features into smartphones and other smart tech. The region is anticipated to witness exponential growth during the forecast period. The implementation of MID could help technology developers deliver reliable, compact, and more advanced features into electronics devices. Furthermore, the presence of tech majors including Google and Apple in the U.S. will present ample opportunities to regional MID market developers and suppliers.
The presence of established automotive and electronics companies in Asia Pacific will be a major factor driving the demand for the technology. These companies are making substantial R&D efforts and investments in new product development. The region is also one of the leading markets of consumer electronics such as smartphones, laptops, routers and printers. Growing integration of MID antennas and circuitries into these devices will definitely complement the regional outlook.
