The global market for integrated passive devices was valued at approximately US$ 820.6 million in 2018 and is projected to expand at a compound annual growth rate (CAGR) of 8.3% from 2019 to 2027, reaching an estimated US$ 1,647.8 million by the end of the forecast period. This market is witnessing consistent growth, driven by ongoing research and development efforts aimed at introducing innovative solutions within the integrated passive devices sector. Baluns play a crucial role in various product categories, including impedance matching networks, balun transformers, and filters, all packaged in compact surface mount formats. These devices significantly minimize PCB footprints, ensure effective filtering, and mitigate manufacturing inconsistencies. Notable examples of baluns available in the integrated passive device market include BALF-NRG-02D3, BALF-SPI2-01D3, and others, which are specifically designed for wireless connectivity and low-energy 2.4GHz radio applications, contributing to reduced footprints. The widespread application of baluns across different sectors is a key factor propelling the growth of the integrated passive devices market. Additionally, semiconductors are essential for a wide range of cloud integration and connectivity products, such as sensors, computing devices, and communication systems. Consequently, the surging demand for semiconductors is anticipated to further stimulate the integrated passive device market in the near future.
The integrated passive device market is characterized by fragmentation, with numerous players operating within the industry. The competitive landscape is expected to evolve in the coming years. Furthermore, various governmental initiatives are being implemented to enhance the growth of the integrated passive device market. For example, North American governments have introduced measures to foster investment in the automotive component manufacturing sector. Such initiatives positively influence the integrated passive device market, providing numerous advantages to market participants and thereby facilitating growth in the region.
A significant trend likely to impact the integrated passive devices market in the near future is the rising demand for customized integrated passive devices (IPDs). As technology advances, existing network infrastructures are increasingly challenged to accommodate the anticipated surge in connected devices and the corresponding data explosion. This situation has led to a heightened need for a more reliable and robust communication network infrastructure capable of managing substantial data flows. These factors are expected to gain momentum in the near future, significantly influencing the integrated passive devices market.
The integrated passive device market can be categorized by material into Glass, Silicon, and Others. The silicon segment is projected to hold a substantial share throughout the forecast period. Manufacturers are increasingly adopting silicon-based passive integration techniques, which help reduce footprints, enhance component tolerance, simplify interconnections, and improve reliability. Additionally, the growing demand for IPD EMI filters with ESD protection, particularly from the cellular phone sector, is further driving the integrated passive devices market. The industrial transformation occurring in the Asia-Pacific (APAC) region has solidified Singapore's status as a key manufacturing hub, leading to increased interest in advanced solutions and technologies that enhance competitiveness in the integrated passive device market. The APAC region is of significant importance to the integrated passive device market, characterized by substantial industrial and economic growth, which is expected to result in considerable market expansion. Moreover, the adoption of the Internet of Things (IoT) by various organizations to enhance operational efficiency and modernization across industries such as healthcare is anticipated to further boost demand for integrated passive devices during the forecast period. Additionally, North America is expected to maintain a leading position in the integrated passive devices market.
The overall size of the integrated passive devices market has been determined through a combination of primary and secondary research methods. The research process begins with comprehensive secondary research utilizing both internal and external sources to gather qualitative and quantitative insights related to the integrated passive devices market. Furthermore, multiple primary interviews are conducted with industry stakeholders and experts to validate the data and analysis. Participants in this process typically include industry professionals such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the integrated passive devices market. Key players in the integrated passive devices market include Johanson Technology, Inc., STMicroelectronics N.V., Murata Manufacturing Co., Ltd., OnChip Devices, Inc., 3D Glass Solutions, Inc., AVX Corporation, STATS ChipPAC Pte. Ltd., NXP Semiconductors N.V., ON Semiconductor, and Infineon Technologies, among others.