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MID: A $2.7 billion market by 2027

The molded interconnect device (MID) market is expected to grow from USD 1.4 billion in 2022 to USD 2.7 billion by 2027; it is expected to grow at a CAGR of 13.6%

The major driving factors for the growth of the molded interconnect device (MID) market include the growing advancement in automotive vertical.

Connectors and switches to have significant market size of molded interconnect device (MID) market during the forecast period
Connectors and switches are mainly used in automotive and medical industries. In the automotive Vertical, connectors find application in navigation devices, infotainment systems, cameras, and so on. MID technology is used in connectors to improve assembly operability, provide electrical and mechanical reliability, and offer compactness. Limited space issue in switches can be solved using MID technology

Telecommunication to have second highest CAGR during the forecast period.
In the telecommunications sector, MIDs are used in mobile phones and landline phones, remote controls, and the global telecommunications infrastructure such as satellites, base equipment, and network equipment. Generally, telecommunications based on the network are used in three different broad business areas, namely, central office, outside plants, and mobility.

Central office refers to large facilities where very high-volume communications are switched and processed; outside plants refer to switching stations where distributive switching occurs for commercial and home landlines; and the third area is mobility, where tower-based power and grounding supports mobile communication transmission.

US to grow with highest CAGR in North America during the forecast period.
The US is the major revenue generator for players dealing in MIDs in North America. In 2021, the US accounted for highest CAGR of the MID market in North America, owing to the presence of leading manufacturers such as Molex, Arlington Plating Company, Amphenol Corporation, and Kyocera AVX Corporation.

These manufacturers provide a comprehensive range of MID products to enhance the electrical connectivity and performance of the equipment or devices across various applications. Consumer electronics, medical, telecommunication, and industrial applications are driving the demand for MIDs in the US.

The consumer electronics market in the US has been continuously growing. Moreover, it has been observed that the demand for miniaturized packages has started gaining momentum in consumer electronics, automotive components, medical equipment, and other devices.

CT Bureau

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