Molded Interconnect Devices Market to grow at 12% CAGR from 2018 to 2024: Global Market Insights Inc. (MID) Molded Interconnect Devices Market was estimated at over USD 320 million in 2017, is set to expand USD 840 million by 2024; according to a new research report by Global Market Insights, Inc. The molded interconnect devices market is projected to witness a strong growth across consumer device applications owing to the ability of the devices to integrate numerous electrical and mechanical functions, reduce circuit density, and facilitate miniaturization of the products. The devices require fewer auxiliary components, thereby saving considerable costs and driving the industry growth. Low failure ratio and high reliability of these devices can be attributed to the existence of less auxiliary components and a low degree of system complexity. These devices also have superior environmental benefits such as recyclable thermoplastic materials with minimal additives.
These devices enable the combination of mechanical components and electrical circuits on three-dimensional thermoplastic materials. The technology allows to integration of chips directly with their assemblies, saving space and facilitating miniaturization. For instance, the smartphone antennas can be installed directly within the housing with the help of the devices. The products can be manufactured with fewer assembly steps as compared to the traditional PCB manufacturing and offer a high degree of freedom to circuit designers. Integration of sensors and functions reduces assembly time and production steps, resulting in high-quality components and optimization of supplementary costs. These factors are anticipated to positively impact the MID market growth over the coming years. LDS molded interconnect devices market is expected to grow at a CAGR of over 15% over the forecast timespan. Several industrial and aerospace & defense manufacturers are developing compact and advanced models by integrating mechanical & electrical functions in a single product. This helps manufacturers to save production costs and offer aesthetically-improved features along with the reduction in their production times. With miniaturization driving the consumer electronics industry, the LDS market is growing in popularity by allowing smaller designs with integrated functionalities. These processes have presented new and efficient forms of production from a single component to mass production and have also led to innovative product designs, thereby driving the LDS MID market demand. 1|Page