Molded Interconnect Device Market Segmentation:
Product Type Segment Analysis
In molded interconnect device market, sensors segment is poised to capture over 47% share by 2035. The segment's growth can be attributed to their growing use in various industries, including automotive and industrial. The use of temperature sensors, pressure sensors, and other types of sensors is extensive in industrial applications. In total, the sensor segment garnered USD 22.4 billion in 2022. In the automotive sector, sensors are used in adaptive cruise control systems and climate control-related applications.
Moreover, the increasing use of molded interconnect devices (MIDs) in these applications drives up the demand for MID sensors during the forecast period. The integration of sensors in these sectors is improving performance, efficiency, and safety. All these factors are cumulatively responsible for the market’s growth.
Application Segment Analysis
In molded interconnect device market, telecommunications and computing segment is estimated to account for more than 34% revenue share by the end of 2035. The strong need for sophisticated electronic circuits that enable the development of 5G devices with low signal loss is attributed to the segment's growth.
Electronic businesses, such as Cicor Group, have been working to create MID gear that uses liquid crystal polymers in order to facilitate the high-frequency transmission of 5G signals. 5G had 1.1 billion subscriptions worldwide as of June 2024; 125 million more had been added in just the first quarter. Thirty-five service providers have introduced 5G standalone (SA) networks, while about 240 service providers have built 5G networks. There are more than 700 5G smartphone models available to consumers as of early 2024; this has a prospective effect on the segment’s growth.
Our in-depth analysis of the global molded interconnect device (MID) market includes the following segments:
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