Northrook, IL -- (SBWIRE) -- 03/09/2020 -- The Integrated Passive Devices market to grow from USD 1,011 million in 2018 to USD 1,544 million by 2023, at a Compound Annual Growth Rate (CAGR) of 8.8% during the forecast period.

The growth of the integrated passive devices market is driven by factors such as increasing adoption of IPD in consumer durables, integration of IPDs into RF applications, and increasing demand for miniaturized & high-performance electronic devices. In addition, increasing incorporation of infotainment and navigation features, such as global positioning system (GPS), in automobiles is supporting the market growth.

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By material, the glass segment is expected to grow at the highest growth rate during the forecast period

Among non-silicon-based types, glass base is preferred because of advantages such as high resistivity and low RF coupling to devices. During the manufacturing process, glass wafer does not heat up as much as other materials. Moreover, glass

The consumer electronics segment deals with electronic devices that are used for entertainment, communications, and enterprises purpose. Consumer electronics accounted for the largest share of the IPD market. Consumer electronics include smartphones, notebooks, tablets, and others (wearables, game consoles, and other white goods). Smartphones have been a major driver for the growing market of smart devices. The growth of the smartphones market has proven to be a catalyst for the mainstreaming of the Internet of Things.

EMEA to account for the largest market size during the forecast period.

EMEA is expected to hold the largest market size in the IPD market during the forecast period, followed by the Americas region. Key regions for the integrated passive devices market in EMEA are Germany, France, Switzerland, and the Rest of Europe (including UK, Sweden, and Norway). The presence of fabrication and IPD manufacturers, such as Infineon Technologies, STMicroelectronics, and IPDiA, that develop innovative products based on effective research and development drives the IPD market in EMEA. Furthermore, increased technical advancements and high investments by key organizations and surging interest for passive devices are expected to boost the growth of IPD in EMEA.

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Key Market Players

STATS ChipPAC Pte. Ltd. (Stats ChipPac) (Singapore), ON Semiconductor Corporation (ON Semiconductor) (US), Infineon Technologies AG (Infineon) (Germany), STMicroelectronics N.V. (STMicroelectronics) (Switzerland), Murata Manufacturing Co., Ltd. (Murata) (Japan), Johanson Technology, Inc. (Johanson) (US), OnChip Devices, Inc. (OnChip Devices) (US), Global Communication Semiconductors, LLC (GCS) (US), 3DiS Technologies (3Dis) (France), and Advanced Furnace Systems Corp. (AFSC) (Taiwan).

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