Global Integrated Passive Device market to register high growth during 2017- 2023
As per the research, the global integrated passive device market is expected to register high growth during the forecast period, with the market projected to reach from $901.5 million in 2016 to $1,572.3 million by 2023, witnessing a CAGR of 8.4% during 2017-2023.
Insights on market segments
Integrated passive devices are widely used for applications such as digital and mixed signals, LED lighting, RF applications and ESD/EMI protection. Of them, the digital and mixed signal applications led the market in 2016, and is expected to remain the largest market during the forecast period as well, majorly on account of the increased electrical performance requirements. Moreover, integrated passive devices offer miniaturization, cost reduction and added functionality benefits that are likely to create positive outlook for this market.
Baluns are expected to contribute the largest revenue to the global IPD market throughout the forecast period. Anticipated supremacy of the baluns segment can be attributed to their extensive utilization in almost all applications, where these devices are being used. Additionally, more number of balun units are required in a single circuit, as compared to the other functional blocks, owing to which the market for baluns is likely to witness a notable growth in the coming years.
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EMEA – The largest integrated passive device market
Among regions, Europe, Middle-East and Africa (EMEA) are expected to contribute the highest revenue to the global integrated passive device market during the forecast period. Existence of fabrication and IPD manufacturers are the major factors responsible for the growth of IPD market in Europe. In EMEA, the European countries contribute the largest to the rapidly growing IPD market. The growth in Europe can be attributed to the surge in demand for IPD products, as it has been an early adopter of new technologies.
Asia-Pacific (APAC) is expected to register the highest growth in the global integrated passive devices market during the forecast period. Growth of the IPD market in APAC is largely driven by rapid growth in emerging economies such as China, South Korea, Taiwan and India. Furthermore, presence of these countries offer profit-making imperatives for the IPD market owing to the rapid advancements in the telecommunication, infrastructure and consumer electronics in Asia-Pacific.
Increasing adoption of IPDs in consumer durables to power market growth
IPDs are increasingly being adopted in the manufacturing of consumer durables, on account of the growing demand for miniaturization. Miniaturization refers to the development of smaller scale components and devices, especially for electronic, mechanical and optical products. Commonly, miniaturization is achievable through very-large scale integration (VLSI) which results in comparatively higher density of components than those in the small scale and large scale integration. Moreover, consumers are nagging products with inbuilt intelligence, owing to which consumer durable products are being produced with intelligent functions and logic. Increasing demand for miniaturization and surging adoption of IPDs in consumer durables are the major factors backing the growth of the global IPD market.
High intensity of rivalry in EMEA
The research states that the overall intensity of rivalry is moderate in the global integrated passive devices market. It has been observed that large number of industry players exist in EMEA, especially in Europe. The integrated passive device market is highly fragmented in EMEA due to which the market is extremely competitive in the region. In EMEA, Europe contributes the largest to the global IPD market with the support of top industry players, including companies like STMicroelectronics and Infineon.
The major players operating in this market include On Semiconductor, Stats ChipPAC, STMicroelectronics, Murata-IPDiA, Johanson Technology, Onchip Devices, AFSC and Infineon.
GLOBAL INTEGRATED PASSIVE DEVICE MARKET SEGMENTATION
By Functional Block
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