(EMAILWIRE.COM, March 13, 2020 ) According to the new market research report on the "Integrated Passive Devices Market by Material (Silicon, Glass), Passive Devices, Application (ESD/EMI, RF IPD, Digital & Mixed Signals), Wireless Technology (WLAN, Bluetooth, GPS, Cellular), End Use Industry, and Geography - Global Forecast to 2023", the integrated passive devices (IPD) market is expected to reach USD 1,544.9 million by 2023 from USD 1,011.2 million in 2018, at a CAGR of 8.8% between 2018 and 2023. The growth of the IPD market is driven by factors such as increasing adoption of IPD in consumer durables, integration of IPDs into RF applications, and increasing demand for miniaturized and high-performance electronic devices.

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Driver: Increasing adoption of IPD in consumer durables

White goods are among the biggest applications of the IPD technology. It has been observed that integrated passive devices have a strong penetration in the consumer electronics sector, which consists of smartphones, tablets, portable media players, set-top boxes & digital TVs, and others. Smartphones in recent years have witnessed a strong demand; and the need for numerous features packed in a small form factor has given rise to integrated passive devices.

A smartphone has many features such as Wi-Fi, Bluetooth, global positioning system, near-field communication, and others. For the next-generation communication technology, namely 4G LTE (long term evolution), smartphones need to support higher frequency bands to drive the need for additional miniaturized components. This would increase the adoption of IPDs in consumer electronics as they offer cost-effective solutions for miniaturization.

IPD market in Asia Pacific to grow at the highest CAGR during the forecast period

Asia Pacific is expected to offer lucrative opportunities for the IPD market because of the growing base for communication infrastructure, communication devices, and consumer electronics. Asia Pacific is one of the key regions for players dealing with smartphones and wearables. The trend of miniaturization of components of smartphones and wearables will drive the IPD market in this region. This region is expected to witness mass commercialization of 5G by 2020. Huge customer base and need for telecommunication infrastructure will boost the need for IPDs in coming years.

Key players in the IPD market include STATS ChipPAC (Singapore), ON Semiconductor (US), Infineon (Germany), STMicroelectronics (Switzerland), Murata (Japan), Johanson, (US), OnChip Devices, (US), Global Communication Semiconductors, (US), 3DiS (France), and Advanced Furnace Systems (Taiwan).

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