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Leading entities in the molded interconnect device (MID) industry are prioritizing innovation and technological advancements to secure their competitive advantage. They are allocating substantial investments to research and development, aiming to enhance the capabilities and applications of MIDs, particularly in high-growth sectors such as automotive, consumer electronics, and healthcare. To expand their market presence and leverage complementary technologies, these entities are actively engaging in strategic partnerships and collaborations.
Furthermore, there is a strong emphasis on sustainable manufacturing practices, driven by stringent environmental regulations and increasing consumer demand for eco-friendly products. Their strategic initiatives also include geographical expansion into emerging markets, coupled with tailored solutions to meet specific industry requirements. To ensure consistent quality and performance, many of these entities are adopting advanced manufacturing processes such as Laser Direct Structuring (LDS) and 2-shot molding.
Major players operating in the molded interconnect device industry are:
The molded interconnect device industry from the connectors & switches segment will expand at over 11.5% CAGR between 2024 and 2032, driven by the surging demand for wireless communication and connectivity solutions.
The market size of molded interconnect device reached USD 1.65 billion in 2023 and is set to grow at over 10% CAGR between 2024 and 2032, led by the surging demand for compact electronic devices.
North America market held over 38% share in 2023, driven by robust technological advancements and high demand from various industries.
TE Connectivity, Mitsubishi Engineering-Plastics Corporation, GALTRONICS, Molex LLC, RTP Company, and BASF.