Industrial

APAC bio-based and synthetic dimethyl ether market to acquire substantial gains by 2025, aerosol propellants to drive the application landscape

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A prominent factor facilitating the commercialization of bio-based and synthetic dimethyl ether market is the increasing proliferation of the product as an alternative transportation fuel. With the growing concerns over energy security, environmental pollution, and future oil supplies, the global population is seeking for non-petroleum-based alternative fuels that would optimize the energy consumption. Owing to its ability to considerably reduce SOx, C0x, and other particulate matter emissions, the potential impact of DME as an alternative high-efficiency ignition fuel is huge compared to other fuel counterparts.

U.S. bio-based and synthetic dimethyl ether (DME) market size, by raw material, 2014 – 2025 (USD Million)
U.S. bio-based and synthetic dimethyl ether (DME) market size, by raw material, 2014 - 2025 (USD Million)

These fuels’ amenability of easily blending with LPG without hampering the resultant byproduct is escalating bio-based and synthetic dimethyl ether market demand. The LPG-DME blend makes it one of the most attractive options of transportation fuel both for petrol as well as diesel engines.

The eco-friendliness of bio-based and synthetic dimethyl ethers can be majorly given the credit for the market’s remarkable expansion across automotive as well as domestic sectors. Regulatory norms initiated by the government pertaining to minimization of carbon emission has significantly complemented the business landscape in this domain. Growing investments by the automakers in low emission vehicles are also favoring the business landscape. Ford Motors, for instance, is noticeably investing significant capital in the research activities pertaining to advanced internal combustion engines.

Aerosol propellants is a niche application domain contributing significantly toward the global bio-based and synthetic dimethyl ether industry share. The relatively low cost, low toxicity, high efficiency, and extensive boiling point and vapor pressure range of DME allows the products’ widespread adoption in aerosol propellants that are deployed across a plethora of end-user industries such as cosmetics, pharmaceuticals, paints & coatings, etc.

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In the cosmetic industry, DME as an aerosol propellant finds usage in fragrances, hair sprays, and other similar products. Using dimethyl ether as an aerosol propellant has significant benefits – it provides purity & stability, costs relatively low, has low odor, low toxicity, reduced flammability, and has a wide vapor pressures range. Driven by the fact that it is environmentally friendly, bio-based and synthetic DME industry share from aerosol propellants is anticipated to increase considerably in the years ahead.

Of the two basic raw materials used, fossil fuels dominated the bio-based and synthetic DME industry in 2018, on account of the massive natural gas recoverable reserves availability that can be utilized to manufacture products for a plethora of applications in aerosol propellants, LPG blending, and transportation fuels. Fossil-fuel based DME also finds deployment in numerous industrial applications such as solvent extracting agents, blowing agents for insulation panels, refrigerants, fuel for welding & cutting, etc.

In essence, the fossil fuel-based DME industry is projected to amass substantial gains by 2025, driven majorly by the abundant availability of natural gas subject to technological advancements attributed to extensive investment in R&R programs in the oil & gas industry.

Speaking on the regional spectrum, it is rather overt that Asia Pacific market led by China and India holds a prominent position in the global bio-based and synthetic dimethyl ether industry. The growing population of China and the extensive product usage for domestic purposes are the two major grounds influencing the regional market growth prospects.  In addition to this, the expanding production base with extensive capacities is also allowing  Japan to stand as a strong contender in the APAC bio-based and synthetic dimethyl ether market.

Bio-based and synthetic dimethyl ether is a fuel with minimum lubrication property. Due to this, traditional injection systems and fuel delivery cannot be used in conjunction with it. Though this compatibility issue is acting as a major hindrance to growth trajectory of the market, however, oscillating crude oil price trends which is pushing the consumers to opt for a substitute, is providing lucrative business opportunities for bio-based and synthetic dimethyl ether market. Some of the prominent industry players include Akzo Nobel NV., China Energy Ltd, Korea Gas Corporation, Mitsubishi Corporation, and Royal Dutch Shell PLC.

Author Name : Saipriya Iyer

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PU foam-based insulated concrete form market to accrue modest proceeds by 2025, global industry to be characterized by surging product demand across hurricane prone regions

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With the demand for sustainable construction escalating by the day, insulated concrete form market has come to garner immense popularity. Indeed, the industry trends are specifically influenced by the requirement of affordable in regions experiencing rapid urbanization or harsh weather conditions. A unique formwork system, insulated concrete forms involve the fixation of lightweight foam blocks made of expanded polystyrene (EPS) to attain desired wall shapes, which are then filled with concrete. This system provides improved energy savings, greater safety and by far a more healthy and comfortable living experience for its occupants. These benefits that have led to an upsurge in the product acceptance in the commercial, residential, infrastructural, and industrial sectors worldwide, gradually augmenting the global ICF industry size.

North America Insulated Concrete Form Market, By Material, 2018 & 2025, (USD Million)
North America Insulated Concrete Form Market, By Material, 2018 & 2025, (USD Million)

The goal of reducing energy consumption for heating and cooling is one of the major factors driving the ICF market. The product is estimated to save about 20% or more on energy bills, mainly as concrete in ICFs acts as a thermal mass which transfers heat significantly slower, eventually reducing heat penetration during summer and loss during winter. Additionally, increasing occurrence of natural disasters like hurricanes, tsunamis, floods, earthquakes, volcanic eruptions and more will increase construction of ICF based disaster-resistant houses.

For instance, a category 4 hurricane had struck Florida in 2018, destroying 54% of homes, however, one home built using insulated concrete form was reported to stand undamaged following the event. Thus, aided by high-performance and excellent capability, the ICF market will gain immense traction in hurricane prone regions.

How will the demand for PU foam by construction companies enhance the commercialization landscape of insulated concrete form market?

Nowadays, home builders are increasingly turning towards a variety of cost-efficient construction methods to improve the thermal performance of the overall project. One such method includes the use of polyurethanes form which can significantly help conserve natural resources and further preserve the environment by reducing energy usage. Due to its excellent insulation properties, strength-to-weight ratio, versatility and durability, polyurethane is frequently used in building and construction applications.

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Rigid polyurethane, a type of polyurethane, is mostly used to maintain uniform temperature and lower noise levels in commercial spaces and homes. The form works as an insulation material that is used in wall and roof insulation, insulated doors, windows and air barrier sealants and can significantly cut energy costs while making homes and offices more efficient and comfortable. Irrefutably, polyurethane building materials add design flexibility to new homes and remodeling projects, whereas foam-core panels offer a wide variety of colors and profiles for walls and roofs. As the frequency of construction projects rises and the demand for durable yet aesthetic material depicts an upsurge, PU foam based ICF industry share is expected to increase in the years ahead.

Demand for new residential projects to augment ICF market growth

In the past few years, there has been an increase in the migration of rural population to urban areas which has in turn led to a growing pressure on the global construction sector. For instance, as per data projected by the United Nations, around 68% of the world’s population is expected to reside in urban areas by 2050 – indicating the addition of about 2.5 billion people to the urbane locales. Close to 90% of the increase may be taking place in Asia and Africa. Thus, to meet growing residential demands, the construction industry players will incline toward the adoption of affordable techniques like ICF to build sustainable homes more quickly and efficiently.

Elaborating on the Asia Pacific, it is vital to mention here that the region is likely to emerge as one of the most profitable grounds of the ICF industry. This projection can be credited to the increasing infrastructure investments in the developing countries such as Malaysia, Indonesia and India on account of the enhanced economic prospects across these nations and their growing population. Furthermore, significant government regulations to promote energy efficiency in the building sector, reduction in construction time and improvement in infrastructure safety will also stimulate the global ICF market size.

A system of reinforced concrete made up from rigid thermal insulation, insulated concrete form (ICF) remains as a permanent interior and exterior substrate in roofs, floors and walls. The technique has become extensively popular in the construction sector in both high performance residential and low-rise commercial infrastructures and is gaining significant traction given that it adheres to strict natural disaster resistant & energy efficiency building codes.

Author Name :Mateen Dalal

Window Automation market to exhibit highest growth via residential applications over 2016-2024, surging demand for hybrid products to boost the industry share

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The deployment of modern construction technologies for a luxurious, healthy lifestyle has been rapidly pushing window automation market trends in the last few years. Tech advancements such as augmented reality and IoT are proliferating the construction domain at a robust pace, creating new opportunities for window automation industry players. The incorporation of intelligent control systems in newly installed windows has today proved to be one of the most advantageous technological additions across residential as well as industrial sectors. Pertaining to their sustainability and lesser energy consumption capability, the demand for automated windows has only been escalating lately.

UK window automation market size, by application, 2017 & 2024 (USD Million)
UK window automation market size, by application, 2017 & 2024 (USD Million)

Ever since the advent of the smart era, smart homes and smart cities have become somewhat of a universal trend, prompting regional government bodies to come up with a supportive regulatory framework as well as suitable initiatives to aid the implementation of smart cities. In consequence, this would push the demand for automated components such as doors and windows. One of the primary factors behind the incorporation of these systems however, is the fact that they help reduce excessive energy consumption. Across Western Europe for instance, 40% of the overall energy consumption is for buildings. Being essentially fuel-based, this proportion leads to severe CO2 emissions, escalating the demand for automated windows and doors, given that they help lower these emissions. The deployment of automated windows for optimized energy usage and reduction of carbon emissions will thus impel window automation market share.

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One of pivotal challenges construction behemoths are facing today is the onslaught of fresh air in the living space. This fundamentally involves combating with environmental conditions such as indoor temperature, wind, rain, snow, and carbon dioxide levels, leading to the necessity of advanced sensing systems to be integrated in windows. In recent times, these systems are being developed with highly advanced sensing technologies that are far more efficient and reliable than their predecessors. In order to make these windows smarter than before and ensure that they react appropriately to the occurrence of natural calamities, temperature sensors, and motion sensors are also being incorporated during construction. Driven by the increasing use of innovative sensing solutions, sensors & detectors based window automation industry size is expected to be pegged at USD 950 million by the end of 2024.

The growing popularity of automated windows among the masses has considerably encouraged window automation industry contenders to come-up with innovative solutions. Recently for example, one of the leading window and door manufacturers, Kolbe Windows & Doors showcased its highly innovative portfolio encompassing inswing doors and awnings with automated activation, sliding patio doors, and numerous modern, upgraded window designs at the NAHB IBS (National Association of Home Builders International Builders’ Show). Having successfully integrated modern technologies into its existing window and door product ranges, Kolbe has set a benchmark for other giants in window automation market.

The use of advanced systems for ensuring building and occupant safety is now becoming mandatory, considering the occurrence of life-threatening hazards. Across numerous geographies, governing authorities have mandated the installation of smoke ventilation solutions for operating windows automatically in case of an accidental fire. The increasing deployment of building safety regulations will thus emerge as another contributing factor toward window automation market growth.

Of late, escalating living standards and the increasing need for building safety have generated considerable opportunities for window automation industry contenders. With evolving developments in smart technology, the demand for next-generation components such as motion sensors and IoT based control panels will observe an appreciable upsurge, drastically transforming window automation market outlook. Taking into account the ease of functionality of these systems, governments bodies have also been encouraging residential building developers to deploy automated windows in their projects. In essence, powered by a supportive regulatory framework and a strong technologically-aligned industry background, window automation market size has been forecast to register a CAGR of 6% over 2018-2024.

Author Name :Sunil Hebbalkar

Digital genome market to observe lucrative gains via R&D sector, U.S. to stimulate industry growth over 2016-2024

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On-going research activities along with supportive regulations across the globe will revolutionize digital genome market. The growing implementation of this technology in the field of personalized medical care for efficient disease management will noticeably favor digital genome industry share. According to the Global Market Insights, “Worldwide digital genome market was worth USD 20 billion in 2015 and will exhibit a CAGR of about 9.5% over the coming years of 2016 to 2024.”

The prominent applications of digital genome industry are microbiology, reproductive & genetic, research & development, transportation, and livestock & agriculture sectors. Microbiology application segment accounted for more than 22% of the revenue share in 2015 and will surpass a revenue collection of USD 10 billion by 2024. The growing demand for microbes across clinical, biological, and industrial sectors should drive the revenue. Research & development dominated the application landscape in 2015 and will contribute a revenue of more than USD 23 billion by 2024. The growth can be attributed to heavy investments by private and public sector firms in research activities.

Germany Digital Genome Market size, by product, 2012-2024 (USD Million)
Germany Digital Genome Market size, by product, 2012-2024 (USD Million)

Sequencing and analysis software, one of the product bifurcations of digital genome market, will register an annual growth rate of 9.8% over the period of 2016 to 2024, owing to the increasing efforts to upgrade software packages. High investments in life science research will favor sequencing and analyzer instrument industry, which covered more than 40% of the global digital genome market contribution in 2015. Sample prep instruments, sequencing chip, and RNA or DNA analysis kits are the other notable products in digital genome industry.

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China digital genome market size will grow at an annual growth rate of more than 10% over the period of 2016 to 2024. The growth can be attributed to the supportive governmental activities in the favor of human genetic development. Moreover, the strategic partnerships between the biobanks and research institutes will influence the industry share noticeably.

U.S. digital genome market covered over 80% of the North America regional share in 2015 and will generate significant revenue over the coming seven years, owing to the genome sequencing technological enhancements along with availability of advanced healthcare infrastructure.

Brazil digital genome market is anticipated to record a considerable growth rate over the coming timeframe. The supportive rules and regulations regarding genetic and clinical testing will augment the business growth.

Russia digital genome market collected a revenue of around USD 290 million in 2015 and will exhibit lucrative growth over the coming years of 2016 to 2024, primarily driven by the fierce competition prevalent in the region. The Genome Russia project launched by St. Petersburg State University in Russia, aims to collect and scrutinize genome sequences from different regions across the country, which is also expected to generate a noticeable revenue over the coming seven years.

Collaborations, acquisitions, and novel product innovations are the business growth strategies of industry giants. The corporations operating in digital genome market are Becton Dickinson, Agilent Technologies, Qiagen, Thermo Fisher Scientific, Illumina, Pacific Biosciences, Perkin Elmer, Sigma-Aldrich, BioMarin Pharmaceutical, Fluidigm Corporation, Bio-Reference Laboratories, AVEO Oncology, and Agios.

Author Name :Sunil Hebbalkar

U.S. to drive sludge dewatering equipment market growth over 2016-2024, rising concerns regarding ecological damage to boost the regional revenue

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Strict government measures addressing the most vital issues pertaining to waste disposal will upswing sludge dewatering equipment market growth. The U.S. Solid Waste Disposal Act of 1965 forbids landfilling, waste disposal oceans, and sludge burning. Rising volumes of sludge, especially in the urban areas has caused enormous ecological deterioration, prompting the necessity of effective sludge disposal. Emerging wastewater treatment chemicals sector is forecast to have a significant influence on the industry revenue. As per Global Market Insights, Inc., “Sludge Dewatering Equipment Industry, which accumulated a revenue of USD 3 billion in 2015, is slated to surpass USD 4.9 billion by 2024.”U.S. Sludge Dewatering Equipment Market size, by application, 2014-2024 (USD Billion)

U.S. Sludge Dewatering Equipment Market size, by application, 2014-2024 (USD Billion)

U.S. Sludge Dewatering Equipment Market size, by application, 2014-2024 (USD Billion)

Escalating demand for sludge dewatering equipment across the horticulture, cement production, farming, mineral processing, and mining sectors has encouraged new entrants to enter the business. This has helped established industry players to focus more on business expansion through strategic alliances and product innovations. The aforementioned factors have contributed substantially towards sludge dewatering equipment market growth.

Sludge dewatering equipment makes use of prominent technologies such as screw disc, belt filter press, centrifuges, and rotator disc. Centrifuge technology, which contributed more than USD 800 million to sludge dewatering equipment industry revenue in 2015, is predicted to register an annual growth rate of 5% over the period of 2016-2024. Municipalities prefer this technology to dispose sludge wastes.

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Rotator disc technology, which accounted for over USD 600 million of the overall industry share, is forecast to observe robust expansion in future. Extensive R&D activities for introducing convenient and cost-effective equipment will further impel the industry growth. Sludge dewatering equipment market revenue from screw press technology is expected to hit USD 1.5 billion by 2024. The rising need to effectively dispose industrial wastes within a shorter span is expected to raise the demand for this technology. Belt filter press technology is projected to contribute over USD 600 million to the overall revenue by 2024.

Sludge dewatering equipment find applications across industries and municipal corporations. Industrial applications are forecast to surpass USD 2 billion by 2024 as a result of the chemical and manufacturing sectors contributing toward large waste heaps. Sludge dewatering equipment industry size in municipal corporations is expected to grow at a CAGR of 4% during the period from 2016 to 2024. Stringent rules to eradicate domestic wastes coupled with proficient waste processing management will benefit the business landscape.

Considering the geographical trends, North America sludge dewatering equipment industry is anticipated to register a CAGR of 3% over the coming seven years. Increasing awareness about the adverse effects of environmental pollution on human health along with strict norms prohibiting inappropriate disposal of wastes will augment the regional expansion. The large presence of sludge dewatering units in the region will further contribute towards the industry growth. U.S. sludge dewatering equipment market, estimated at USD 1 billion in 2015, is likely to drive the regional revenue.

Europe sludge dewatering equipment market is expected to grow considerably over the span of few years. The growing menace of pollution due to sludge waste along with low land availability for waste disposal will be the key growth drivers. UK and Germany are projected to be the chief contributors toward the regional growth. Germany sludge dewatering equipment industry is forecast to record a CAGR of 4% over 2016-2024, while UK industry is forecast to hit USD 450 million by 2024.

China sludge dewatering equipment industry, which is likely to exceed a revenue of USD 400 million by 2024, will propel APAC market. South Africa sludge dewatering equipment industry is projected to register significant gains of 6% during the period of 2016 to 2024.

Phoenix Process Equipment Company, Alfa Lava AB, Palmetto Water Solutions LLC, Andritz AG, J.M. Huber Corporation, Dewaco Limited, Aqseptence Group, and The Hiller Companies Incorporation are the key participants of sludge dewatering equipment industry.

 

Author Name :Dhananjay Punekar

Barcode Printers Market to be strongly characterized by extensive product innovations and strategic alliances, global revenue to exceed USD 3.5 billion by 2024

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In recent times, barcode printers market has been witnessing rapid expansion owing to the cutting-edge products being unveiled by prominent industry players and their consistent adoption of strategic growth tactics. Citing an instance of the latest product innovation, Printronix Auto ID Inc., one of the global leaders partaking in industrial barcode printing industry, has launched a high-performance thermal barcode printer, the T6000. Equipped with advanced features such as an enhanced print speed of 14 inches per second, an interactive screen which lowers downtime, postscript and pdf support for complex labelling requirements, and improved RFID capabilities, this product is indeed revolutionary.

It would also be imperative to state that this latest thermal barcode printer seamlessly integrates with any network infrastructure with plug and play facility and comes with unique online data validation process which assists in producing barcodes that eliminate exorbitant compliance fees. Such dynamic and encouraging technological advancements in product development are set to favorably influence the growth prospects of barcode printers market in the upcoming years. According to research analysts, the global barcode printers industry size stood at USD 2.4 billion in 2017.

UK barcode printers market, by application, 2017 & 2024 (USD Million)
UK barcode printers market, by application, 2017 & 2024 (USD Million)

Thermal barcode printers have indeed found commendable traction over the years in various industry domains due to their outstanding thermal transfer technology. Embedded in thermal barcode printers, this technology offers long-lasting labeling applications, which have in turn found extensive usage in printing cards, magazines, posters, picking and shipping labels, receipts, and books. Evidently, the adoption of these printers has had a major impact on barcode printers market outlook. Indeed, thermal-based printers account for more than 65% of the overall industry share and are likely to gain commendable returns in the ensuing years owing to their excellent durability and low operational costs.

Concurrently, the diverse applications of barcode printers are increasingly being deployed in the healthcare industry. Noteworthy applications such as desktop barcode printers in particular, are contemplated as an ideal product for the healthcare industry, as they have helped boost the efficiency and productivity of medical care operations. The product has emerged to be of immense use in hospitals as it offers accurate patient information, enhanced medicine administration, parcel post, specimen collection and identification, shipping/receiving labels and patient identification. The growing demand for products such as barcode-based wristbands for patient identification will thus drive desktop barcode printers market trends over 2018-2024.

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Meanwhile, it would be well advised to enumerate the challenges that would impede the growth potential of barcode printers industry in the longer run. The vertical apparently, has been marred by the low printing quality of labels, add to it the rising prominence of Radio Frequency Identification (RFID) tags. In the years to come however, these restraints are likely to take on a turn for the better, as companies continue to conduct R&D activities to develop innovative solutions with a high level of reliability.

Speaking of the regional expansion outlook, Europe barcode printers market is likely to garner appreciable return in the coming years. This growth can be primarily attributed to the rising deployment of these products to improve customer experience and visibility. The ability of these systems to enhance efficiency and lower costs incurred through errors in shipping, packing, and manual input enables companies to achieve high Return on Investment (ROI), thereby impelling the regional barcode printers industry share.

This business fraternity is anticipated to witness intense competition among the major industry players such as Printonix Auto Id Inc., Epson America Inc., Toshiba Tec Corporation, Zebra Technologies, Honeywell Scanning and Mobility, Dascom, Printek, Seiko Epson Corporation and Godex International Co. Ltd., etc. In a bid to strengthen their positions across the vertical, companies have been highly vigilant as far as conducting robust collaborations and alliances is concerned, as enumerated by the partnership between the leading barcode printers’ producer, Epson America Inc. and the barcode labeling software manufacturer TEKLYNX International. The alliance features the seamless integration of TEKLYNX barcode label design software and Epson’s inkjet color label printer that would provide GHS-compliant chemical barcode labeling for all the sizes in the manufacturing industry.

As the adoption of lucrative growth tactics among market participants surges in the years ahead, barcode printers industry trends are likely to undergo a major transformation. Having been pegged at a valuation of 3 million units in terms of shipments in 2017, barcode printers market size has been forecast to register a CAGR of 5% over 2018-2024.

Author NameSaif Ali Bepari

APAC molded interconnect devices market to surpass USD 400 million by 2024, with China as a major revenue pocket

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Molded Interconnect Devices (MID) market is poised to witness an accelerated growth over the ensuing years, amidst the backdrop of the frequent technological advancements in telecommunication sector. The ability of the device to facilitate miniaturization has largely added to the expansion of its application portfolio in a range of consumer products.

U.S. molded interconnect devices (MID) market size, by end-use, 2017 & 2024 (USD Million)
 U.S. molded interconnect devices (MID) market size, by end-use, 2017 & 2024 (USD Million)

MIDs have gradually become the prime circuitry solution choice in the automotive and electronics industry, owing to its easy assembling, smaller circuitry. and light weight when compared to conventional PCB circuits. It is prudent to mention that the eco-friendly tag that these devices carry is one of the major factors fueling the MID market growth worldwide. These devices reportedly incorporate thermoplastic materials that are recyclable and do not involve hazardous manufacturing processes.

The growth of MID market has been greatly boosted by economies that rely on their manufacturing industry for growth, with the Asian economy – majorly China, South Korea, Japan and Taiwan in the lead.

Below is an outline of molded interconnect devices market trends with regional frame of reference:

Asia-Pacific MID Market Outlook:

Touted as one of the major growth avenues in the MID market, China is estimated to contribute over $155 million to the MID industry by 2024, aided by the increasing demand for MIDs in the consumer electronics sector. China has achieved a rapid growth rate because of its ability to provide cheap labor for manufacturing industries, which has prompted many multinational companies to shift their manufacturing units in the country. The nation has now turned into a global manufacturing hub, with Apple setting one of the most prominent examples of this trend.

The technology company with an expansive product portfolio comprising portable electronic devices that are more compact and reliable is an ideal target consumer for the MID market. China also boasts of other domestic tech companies who have recently began dominating the smartphone market owing to their competitive sleek devices, the One Plus flagship line being an example of this phenomenon. Not to mention, the region being a key automotive manufacturing hub hosting the presence of many international and domestic brands also adds to its strong contendership in the global MID industry fraternity.

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Japan is another prominent nation fueling APAC molded interconnect devices market growth. The region’s thriving automobile manufacturing industry is slated to be one of the top-notch regional drivers. With circuitry designed using MID facilitating the incorporation of these cutting-edge technological features, it is overt that APAC will be one of the most lucrative hubs for the MID market expansion. As per reliable estimates, overall APAC MID market is projected to surpass a valuation of USD 400 million by 2024.

Europe MID Market Outlook:

European nations have been renowned for their active participation toward ensuring environmental sustainability trends, making the continent one of the leading players in the MID market expansion. The MID Laser Direct Structuring (LDS) manufacturing process allows MID to be made via a single-shot molding process which is relatively less harsh on the environment than conventional methods.

The continent’s expanding vehicle manufacturing sector in tandem with the presence some of the world’s major automotive OEMs is expected to boost the Europe MID market share in the coming years. The rapid technological advancements with regard to automotive safety such as seatbelt safety systems and sensor positioning will further provide massive growth opportunities to the MID industry players. The regional demand is slated to record a CAGR of about 10.5% from 2018 to 2024.

Besides the consumer electronics and automotive sectors, one of the most anticipated trends in the MID market remains the contribution of healthcare fraternity to this space. With rapid R&D investments toward healthcare prototyping gaining prominence, the sector is certain to be a profitable end-user for the molded interconnected devices manufacturers. Global Market Insights, Inc. forecasts the healthcare MID industry to record an appreciable double-digit CAGR of 15% over 2018-2024.

Author NameAkshay Kedari