(EMAILWIRE.COM, September 01, 2018 ) According to the new market research report on "Molded Interconnect Device (MID) Market by Process (LDS, 2-Shot Molding, Film Techniques), Product (Antennae & Connectivity Modules, Connectors & Switches, Sensors, Lighting), Industry, and Geography - Global Forecast to 2023", the MID market is expected to reach USD 1,798.3 million by 2023 from USD 894.1 million in 2018, at a CAGR of 15.0% from 2018 to 2023. Major factors driving the growth of the MID market are the increasing use of MID in medical devices, rising demand for miniaturization in the consumer electronics industry, and growing need to reduce e-waste.

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Molded interconnect device is an injection-molded plastic; it incorporates a conductive circuit pattern and integrates both mechanical and electrical functions. In addition, it is the fusion between a plastic part and a circuit. These devices are usually three-dimensional, and a variety of techniques may be used to attach conductors and components on a single surface.
The key players in the MID market are Molex (US), LPKF (Germany), TE Connectivity (Switzerland), HARTING (Germany), APC (US), JOHNAN (Japan), MID Solutions (Germany), 2E mechatronic (Germany), and Multiple Dimensions (Switzerland).

Expansion and merger & acquisition were the key strategies adopted by players in the MID market during January 2016–January 2018. Companies such as JOHNAN (Japan) and HARTING (Germany) have been focusing on the expansion strategy to grow in the market, whereas players such as Molex (US) and TE Connectivity (Switzerland) have been focusing on merger & acquisition to increase their shares in the overall MID market.
Top 2 Players in MID Market

Molex (US) is one of the leading players in the MID market. It designs, develops, and manufactures electronic components and solutions. The company offers connectors, sockets and edge cards, cable assemblies, optical solutions, printed circuit boards, industrial products, and antennae to various industries, such as automotive, commercial aviation, consumer, and medical. To expand its business operations, along with product portfolio, the company has been focusing on inorganic growth strategies. In line with this, in 2016, Molex acquired Phillips-Medisize to provide a wide range of fully integrated solutions to customers globally.

LPKF Laser & Electronics (Germany) engages in the design and manufacture of laser systems. It offers various products, such as laser direct structuring, stencil laser equipment, and printed circuit board production equipment. The company’s MID products find application in various industries, such as electronics, medical technology, and automotive.

The company has reported an increase in revenue for the fiscal year 2017 over the fiscal year 2016. This resulted from the growth in business, especially with new products and an optimized fixed cost base.

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