LDS molded interconnect devices (MID) market is expected to grow at a CAGR of over 15% over the forecast timespan

Sellbyville, DE -- (SBWire) -- 04/30/2019 --The healthcare sector in the molded interconnect devices (MID) market is predicted to dominate owing to the growing use of these components in devices such as blood pressure monitors, glucose meters, and oxygen meters that enables improved patient diagnostics. The 3D assemblies of components in medical devices help in enhancing the circuit designs and minimizing the size. These are increasingly being used by dentists and medical pathology labs, thereby driving the MID market growth.

Molded Interconnect Devices (MID) market is poised to witness an accelerated growth over the ensuing years, amidst the backdrop of the frequent technological advancements in telecommunication sector. The ability of the device to facilitate miniaturization has largely added to the expansion of its application portfolio in a range of consumer products.

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The surge in the use of consumer electronic devices including smartphones, tablets, and televisions is anticipated to drive the molded interconnect devices (MID) market growth. These components are increasingly integrated into the smart devices owing to their reduced size and energy-saving features. The antenna integrated components provide enhanced mechanical and electronic enclosure development to the manufacturers.

In the molded interconnect devices (MID) market, the Laser Direct Structuring (LDS) process segment is anticipated to gain traction over the coming years owing to the ease of processing and low development & tooling costs associated with the manufacturing processes. It consists of a one-step process that integrates plastic creation on the device and enhances the component performance. The MID market is driven by benefits provided by the LDS processes such as the elimination of hazardous chemical pre-treatment and lesser environmental impacts over the legacy processes.

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The Asia Pacific molded interconnect devices (MID) market is projected to exceed USD 400 million by 2024. Strong growth in the region can be attributed to the presence of several companies including Samsung Electronics, Co., Ltd. and Sony Corporation. These companies are expanding and upgrading their product portfolio thereby offering several opportunities for vendors operating in the molded interconnect devices market. Several players in the region are also entering into collaborations for the development of new technologies. They are offering high-end products at competitive prices and are adopting aggressive marketing strategies. The exponential advancements in the technology and increasing commercialization of several innovative products have resulted in high growth prospects thereby attracting more players to the molded interconnect devices (MID) market.

Key industry players operating in the molded interconnect devices (MID) market include MacDermid Enthone, Harting Mitronics, Molex, SelectConnect Technologies, and RTP Company. The designers and electronic developers have expanded their capabilities in the prototyping and functioning of the final device by using advanced 3D design tools such as the Target 3001.

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