The Latin America, Middle East and Africa Molded Interconnect Device (MID) Market would witness market growth of 14.9% CAGR during the forecast period (2022-2028).
The growing use of molded interconnect devices (MID) in medical devices is also driving the molded interconnect device market. The increasing need to reduce e-waste, as well as technological advancement, will drive the molded interconnect device market forward. Moreover, a favorable regulatory environment for the reduction of electronic waste, as well as a growing preference for equipment from different end-use industries like automotive and semiconductors, will be major factors influencing the growth of the molded to interconnect device market.
Over-molded interconnect devices technology, various diagnostic devices such as pulse oximeters, blood pressure monitors, and blood glucose monitors are manufactured. These diagnostics devices benefit from molded interconnect devices technology, which allows for high accuracy, low power consumption, and a small footprint. These devices integrate the connectors, housing, circuit boards, and cables that comprise traditional product interfaces into a single fully functional, compact part. Molded interconnect devices are used in a variety of industries and products, including automotive, medical, tablets, and cell phones.
Mobile telecommunications are the most rapidly spreading technologies in the region. Several trends have shaped the Middle Eastern telecom industry over the last few years. The COVID pandemic did not have a significant negative impact on telecom revenues, although it demonstrated the strength a resilience of telecom networks as they dealt with the unexpected surge in usage. The first and most obvious trend is the growing demand for faster, more dependable technology has continued. The Gulf countries such as the United Arab Emirates, Saudi Arabia, and Qatar have been at the forefront of commercializing 5G technology.
The Brazil market dominated the LAMEA Molded Interconnect Device (MID) Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $47.3 Million by 2028. The Argentina market would exhibit a CAGR of 15.5% during (2022 - 2028). Additionally, The UAE market would experience a CAGR of 14.6% during (2022 - 2028).
Based on Product Type, the market is segmented into Antennae & Connectivity Modules, Sensors, Connectors & Switches, Lighting Systems and Others. Based on Process, the market is segmented into Laser Direct Structuring (LDS), Two-Shot Molding and Film Techniques. Based on Vertical, the market is segmented into Consumer Electronics, Telecommunications, Automotive, Medical, Industrial and Military & Aerospace. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Molded Interconnect Device (MID) Market is Predict to reach $2.9 Billion by 2028, at a CAGR of 13.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Molex, LLC (Koch Industries, Inc.), TE Connectivity Ltd., Taoglas, KYOCERA AVX Components Corporation (Kyocera Corporation), Amphenol Corporation, LPKF Laser & Electronics AG, HARTING Technology Group, MID Solutions GmbH, and 2E mechatronic GmbH & Co. KG
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