Integrated Passive Devices Market worth 1,544.9 million USD by 2023

According to the new market research report on the "Integrated Passive Devices Market by Material (Silicon, Glass), Passive Devices, Application (ESD/EMI, RF IPD, Digital & Mixed Signals), Wireless Technology (WLAN, Bluetooth, GPS, Cellular), End Use Industry, and Geography - Global Forecast to 2023", the integrated passive devices (IPD) market is expected to reach USD 1,544.9 million by 2023 from USD 1,011.2 million in 2018, at a CAGR of 8.8% between 2018 and 2023.
The growth of the IPD market is driven by factors such as increasing adoption of IPD in consumer durables, integration of IPDs into RF applications, and increasing demand for miniaturized and high-performance electronic devices.

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Silicon material to hold a major share of the IPD market by material throughout the forecast period
Silicon accounted for the largest market share in 2017 and will remain same in the coming years. Most players in the IPD market offer silicon-based IPDs. Murata IPDiA (Japan), ON Semiconductor (US), and Stats ChipPAC (Singapore) offer silicon-integrated passive device platforms. These are cost-effective, due to which the use of silicon in IPD is increasing.

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Market for filter passive devices to grow at a high rate during the forecast period
A filter is used to eliminate harmonic distortion caused by non-linear loads. Harmonics in power systems result in increased heating of equipment and conductors, and torque pulsations in motors. Filters are used in ESD/EMI, RF IPD, and other applications. Companies such as Murata (Japan), Stats ChipPAC (Singapore), and On Chip Devices (US) are offering different types of filters that integrate various functions required by wireless and consumer applications, such as ESD protection diodes, EMI low pass filters, line terminations, and pull-up or pull-down resistors.

Consumer Electronics held the largest share of the overall IPD market in 2017
The consumer electronics segment deals with electronic devices that are used for entertainment, communications, and enterprises purpose. Consumer electronics include smartphones, notebooks, tablets, and others (wearables, game consoles, and other white goods). Smartphones have been a major driver for the growing market of smart devices. The growth of the smartphones market has proven to be a catalyst for the mainstreaming of the Internet of Things.

IPD market in Asia Pacific to grow at the highest CAGR during the forecast period
Asia Pacific is expected to offer lucrative opportunities for the IPD market because of the growing base for communication infrastructure, communication devices, and consumer electronics. Asia Pacific is one of the key regions for players dealing with smartphones and wearables. The trend of miniaturization of components of smartphones and wearables will drive the IPD market in this region. This region is expected to witness mass commercialization of 5G by 2020. Huge customer base and need for telecommunication infrastructure will boost the need for IPDs in coming years.

Key players in the IPD market include
STATS ChipPAC (Singapore), ON Semiconductor (US), Infineon (Germany), STMicroelectronics (Switzerland), Murata (Japan), Johanson, (US), OnChip Devices, (US), Global Communication Semiconductors, (US), 3DiS (France), and Advanced Furnace Systems (Taiwan).

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