The molded interconnect device (MID) market is projected to witness significant growth by 2027 owing to surging product demand across diverse applications. Moreover, technological upgradation is anticipated to further drive market adoption through the forecast period.

Molded interconnect devices (MIDs) are injection-molded rigid-body thermoplastics. Notably, MIDs are primarily made from recyclable thermoplastics and thus, are more environmentally compatible, which has played a pivotal role in product penetration across the globe.

Three-dimensional molded interconnect device (3D-MID) technology replaces circuit boards by leveraging a 3D circuit on molded plastic, which enables more compact integration of electrical components. Thus, the technology has become vital in medical applications, which has improved market dynamics.

Following the COVID-19 outbreak, there has been a surge in requirement for compact and efficient medical devices to fulfill the unprecedented healthcare demand across the globe. The 3D-MID technology has brought about advancements in patient monitoring, therapy, diagnosis, cardiac devices, rehabilitation, antenna applications, and other areas, which has promoted market development during the pandemic.

Additionally, the advent of Industrial Internet of Things (IIoT) has given rise to the need for shape-adapted solutions in small quantities across numerous applications. MIDs offer colossal potential for creating shape-adapted electronic devices with a high integration density, which has augmented their significance in industrial equipment.

Recently, researchers have been analyzing different methods to make MID production processes more effective and viable, which has been favorable for industry outlook. For instance, in February 2021, a study presented at the 14th International Congress Molded Interconnect Devices (MID) discussed a modular design methodology for efficient manufacturing of 3D-MID components.

3D-MID facilitates the integration of electronic, mechanical, thermal, optical, and fluidic functions into injection-molded components. This gives way to geometrical design freedom as well as opportunities for miniaturization, while components lightweight, which has bolstered market demand. Moreover, industry players are exploring the use of novel technologies in their operations to expand their consumer reach, which has positively impacted the business landscape.

For in-depth analysis, the molded interconnect device (MID) market has been bifurcated on the basis of process, application, and region. With respect to application, the market has been categorized into consumer products, healthcare, military & aerospace, automotive, telecommunication & computing, industrial, and others.

The molded interconnect device (MID) market from the consumer products sub-segment is estimated to grow at a CAGR of over 14% through the projected period to amass a sizable valuation by 2027. Rising demand for compact and miniaturized features in smartphones and wearable devices is likely to support segmental demand in the coming years.

In the regional landscape, the Middle East & Africa molded interconnect device (MID) market is expected to showcase profitable growth by 2027, progressing at a CAGR of around 9% over the analysis time period. Rapid uptake of mobile and handheld devices in the region is speculated to propel market adoption through the forecast timeline.