Integrated Passive Devices Market Size, Share & Trends Analysis growing at a CAGR of 7.1% from 2024 to 2030
The global integrated passive devices market size was valued at USD 1.26 billion in 2023 and is projected to grow at a CAGR of 7.1% from 2024 to 2030. This market growth is driven by the rising adoption of filters and diplexers in wireless system applications. IoT (Internet of Things) applications of passive electronic components such as capacitors, resistors, and inductors are generating favorable opportunities for manufacturers, driving market growth. An upsurge in incorporating infotainment and navigation features, such as global positioning systems (GPS), in automobiles further boosts the demand for IPD devices.
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The market is expanding with substantial opportunities led by rising development in integrated passive devices in wearable & hearable devices. Furthermore, they are also being utilized in manufacturing electronic durables such as set-top boxes, drones, wireless speakers, routers, and gaming systems. The need for high-speed mobile communication is rising significantly, and thus, the application of 5G networks is creating wider opportunities for prominent players in the integrated devices market. As a result of the integration of IPDs, which provide both performance and energy efficacy, the use of IPDs in numerous sectors such as IoT, healthcare, and LED (Light Emitting Diode) products has significantly improved the sales of integrated devices due to their low energy consumption.
Furthermore, advancements in IPDs made with thin glass films are becoming more popular than those made with silicon via (TSV) substrate due to their superior high resistivity, thermal steadiness, low dielectric loss, and adjustable coefficient of thermal expansion. Consequently, the integrated passive devices market is projected to grow due to the progress in IPDs utilizing Through-Glass-Via (TGV) substrate.
Application Insights
The EMS (Electro Magnetic Susceptibility) and EMI (Electro Magnetic Interference) segments dominated the market and accounted for a share of 47.0% in 2023 attributed to the integration of passive components in mobile devices. The offerings in EMS and EMI protection categories help reduce signal loss and improve signal strength, providing a tremendous growth opportunity for the market.
The LED lighting segment is expected to grow at a CAGR of 9.7% over the forecast years owing to the increasing importance of Silicon-based IPDs within the LED lighting industry due to their superior heat dissipation, which leads to decreased power usage and extended durability. In addition, the growing need for industrial production, the escalating requirement for storage facilities, and the expanding availability of office spaces are key drivers behind the increasing demand for the LED lighting segment.
