The integrated passive device (IPD) market is expected to cross $1.5 billion by 2023, growing at a CAGR of 8.4% between 2018-2023. The growth of the IPD market can be attributed to the escalating adoption of IPDs in consumer durables and incorporation of IPDs in RF applications.
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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. In terms of type, the market is categorized into ESD, EMI, RF-IPD and LEDs, of which RF-IPD contributed the largest to the IPD market. Augmenting demand for miniaturization is one of the major factors spearheading RF-IPD’s growth in the IPD market. RF front end model being the principal part of the internal system of several electronic gadgets including wearable devices, smartphones and tablets is in major demand for various applications.
Miniaturization of components is positively influencing the adoption of IPDs, for use in consumer durables. Miniaturization refers to the development of smaller scale components and devices especially for electronic, mechanical and optical products. Commonly miniaturization is achievable through VLSI (very-large scale integration) and results in greater density of components. Moreover, consumers are nagging products with inbuilt intelligence owing to which consumer durable products are being manufactured with intelligent functions and logic, in turn creating higher demand for the IPD market globally.
Among regions, Europe, Middle-East and Africa (EMEA) are expected to contribute the highest revenue to the 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.
The major players operating in the IPD market include On Semiconductor, Stats ChipPAC, STMicroelectronics, Murata-IPDiA, Johanson Technology, Onchip Devices, AFSC and Infineon.
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