Molded Interconnect Devices Market to hit USD 840 million by 2024

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Molded Interconnect Devices Market to cross
840mn by 2024 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Molded Interconnect Devices
Market

• (MID) Molded Interconnect Devices Market was
  estimated at over USD 320 million in 2017, is set
  to expand USD 840 million by 2024 according to a
  new research report by Global Market Insights,
  Inc. The molded interconnect devices market is
  projected to witness a strong growth across
  consumer device applications owing to the ability
  of the devices to integrate numerous electrical
  and mechanical functions, reduce circuit density,
  and facilitate miniaturization of the products.
• The devices require fewer auxiliary components,
  thereby saving considerable costs and driving the
  industry growth. Low failure ratio and high
  reliability of these devices can be attributed to
  the existence of less auxiliary components and a
  low degree of system complexity. These devices
  also have superior environmental benefits such as
  recyclable thermoplastic materials with minimal
  additives.

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Continued...

• These devices enable the combination of
  mechanical components and electrical circuits on
  three-dimensional thermoplastic materials. The
  technology allows to integration of chips
  directly with their assemblies, saving space and
  facilitating miniaturization. For instance, the
  smartphone antennas can be installed directly
  within the housing with the help of the devices.
  The products can be manufactured with fewer
  assembly steps as compared to the traditional PCB
  manufacturing and offer a high degree of freedom
  to circuit designers. Integration of sensors and
  functions reduces assembly time and production
  steps, resulting in high-quality components and
  optimization of supplementary costs. These
  factors are anticipated to positively impact the
  MID market growth over the coming years.
• LDS molded interconnect devices market is
  expected to grow at a CAGR of over 15 over the
  forecast timespan. Several industrial and
  aerospace defense manufacturers are developing
  compact and advanced models by integrating
  mechanical electrical functions in a single
  product. This helps manufacturers to save
  production costs and offer aesthetically-improved
  features along with the reduction in their
  production times.

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U.S. molded interconnect devices (MID) market
size, by end-use, 2017 2024 (USD Million)

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Continued...

• A major trend driving the molded interconnect
  devices market is the implementation of the
  devices for LDS in the automotive industry. These
  devices are used for reducing vehicle weight and
  increasing reliability owing to the benefits such
  as the elimination of circuits boards and wired
  circuitry. Rapid technological advancements in
  seatbelt safety system, position sensors, brake
  sensors, motorcycle LED lights, steering wheel
  hubs, and control switches are generating several
  opportunities for the industry growth.
• Moreover, the devices provide video-based driving
  assistance by using vehicle camera systems,
  thereby strengthening the driver safety. Vehicle
  tracking systems are majorly implementing these
  devices in the LED displays and monitors to
  assist parking and traffic situations and monitor
  the driving behavior. Design flexibility and low
  cost of the solution are expected to drive the
  growth of the automotive molded interconnect
  device market.

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Continued...

• The Asia Pacific 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
  MID market.
• Key industry players operating in the molded
  interconnect devices 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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Industry Coverage

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Table OF Content
Chapter 1. Methodology and Scope 1.1.
Methodology 1.1.1. Initial data
exploration 1.1.2. Statistical model and
forecast 1.1.3. Industry insights and
validation 1.1.4. Definition and forecast
parameters 1.1.4.1. Definitions 1.1.4.2.
Assumptions, methodology and forecast
parameters 1.2. Data Sources 1.2.1.
Primary 1.2.2. Secondary Chapter 2. Executive
Summary 2.1. MID industry 3600 synopsis, 2013 -
2024 2.1.1. Business trends 2.1.2. Process
trends 2.1.3. End-use trends 2.1.4. Regional
trends
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