Molded Interconnect Device Market Size, Share & Trends Analysis Report By Process (Laser Direct Structuring (LDS), Two-shot Molding, Others), By Product (Sensor Housings, Antennas, Connectors & Switches, Lighting), By End-use, By Region, And Segment Forec

Molded Interconnect Device Market Size, Share & Trends Analysis Report By Process (Laser Direct Structuring (LDS), Two-shot Molding, Others), By Product (Sensor Housings, Antennas, Connectors & Switches, Lighting), By End-use, By Region, And Segment Forecasts, 2024 - 2030

Molded Interconnect Device Market Trends

The global molded interconnect device market size was estimated at USD 1.91 billion in 2023 and is projected to grow at a CAGR of 13.5% from 2024 to 2030. Factors such as the trend towards miniaturization of electronic devices and the increasing demand for high-performance and lightweight components are driving the global market growth. A Molded Interconnect Device (MID) is an innovative electronic component that integrates mechanical and electronic functions into a single, three-dimensional (3D) structure. This is achieved by creating circuit traces directly onto the surface of a molded plastic part.

The key advantages of MIDs include space-saving, weight reduction, and a decrease in the number of components. Unlike conventional PCBs, MIDs provide electrical connectivity on the surfaces of 3D structures. Consequently, MIDs are particularly beneficial in situations where traditional wiring is impractical due to space constraints. Moreover, by combining multiple functions into a single part, MIDs can reduce the number of components and assembly steps, potentially lowering manufacturing costs. The ability to create complex 3D shapes and integrate multiple functions into a single component provides greater design flexibility.

The trend towards smaller, more compact electronic devices necessitates advanced interconnect solutions that MID technology can provide. MIDs allow for more efficient use of space and integration of electronic components. Industries such as automotive, consumer electronics, and medical devices require high-performance yet lightweight components. MIDs, made from lightweight materials, meet these needs while maintaining performance standards.

The demand for customized electronic components is growing, and MIDs offer the flexibility to create bespoke designs that meet specific application requirements. MIDs are becoming more accessible for prototyping and low-volume production, allowing companies to experiment with innovative designs without significant upfront investment.

Government initiatives can have a significant positive impact on the molded interconnect device market. For instance, in February 2024, the Indian government launched the "Digital India FutureLABS" at the Digital India FutureLABS Summit 2024, emphasizing India's progress from a technology consumer to a leader in developing next-generation electronics. The summit featured the announcement of 22 Memorandums of Understanding (MoUs) with companies like NXP Semiconductors and Qualcomm Technologies, Inc., aiming to strengthen India's Electronics System Design and Manufacturing (ESDM) sector through innovation and collaboration in key areas such as Artificial Intelligence (AI), the Internet of Things (IoT), and quantum computing. Such initiatives can accelerate technological advancements and reduce the cost barriers associated with developing innovative MID solutions.

Global Molded Interconnect Device Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global molded interconnect device market report based on process, product, end-use, and region:

• Process Outlook (Revenue, USD Million, 2017 - 2030)
• Laser Direct Structuring (LDS)
• Two-Shot Molding
• Others
• Product Outlook (Revenue, USD Million, 2017 - 2030)
• Sensor Housings
• Antennas
• Connectors & Switches
• Lighting
• Others
• End Use Outlook (Revenue, USD Million, 2017 - 2030)
• Healthcare
• Automotive
• Consumer Electronics
• Telecommunication
• Aerospace and Defense
• Others
• Regional Outlook (Revenue, USD Million, 2017 - 2030)
• North America
• U.S.
• Canada
• Mexico
• Europe
• UK
• Germany
• France
• Asia Pacific
• India
• China
• Japan
• South Korea
• Australia
• Latin America
• Brazil
• Middle East and Africa (MEA)
• Kingdom of Saudi Arabia (KSA)
• UAE
• South Africa

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