Integrated Passive Device Market Projected to Augment at a Notable CAGR During the Forecast Period
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.
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.
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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.
Based on type, the market is categorized into ESD, EMI, RF-IPD and LEDs, of which RF-IPD contributed the largest to the global IPD market. Augmenting demand for miniaturization is one of the major factors spearheading RF-IPD’s growth in the global IPD 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.
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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.
The major players operating in this market include On Semiconductor, Stats ChipPAC, STMicroelectronics, Murata-IPDiA, Johanson Technology, Onchip Devices, AFSC and Infineon.