NEW YORK, July 03, 2017 (GLOBE NEWSWIRE) -- According to a new market research report “Global Integrated Passive Device (IPD) Market Size, Share, Development, Growth and Demand Forecast to 2023 - Industry Insights by Base (Silicon and Non-Silicon), by Functional Blocks (Baluns, Diplexers, Couplers, Harmonic Filters and Others), by Type (RF-IPD, LEDs, ESD and EMI) and by Application (Digital and Mixed Signal, RF, LED Lighting and ESD/EMI Protection)” published by P&S Market Research, the global integrated passive device market is projected to grow at a CAGR of 8.4%.
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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.
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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Among functional blocks, market for harmonic filters is expected to witness the fastest growth during the forecast period. Rising demand for power quality, increasing adoption of variable frequencies by the end-users, growing demand from IT and data centers, increasing government regulations, and growing awareness regarding the potential damage from harmonic distortion are some of the major factors driving the market for harmonic filters globally. These filters help to overcome certain limitations associated with conventional filters, such as higher utility cost and less power factor, due to which harmonic filters are likely to substitute conventional equipment in near future.
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.
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