The emergence of 5G network-connected devices and the increase in the number of Internet of Things (IoT) devices are driving the growth of the global system-in-packet (SiP) technology market.
PORTLAND, Oregon., June 21, 2022 /PRNewswire/ — Allied Market Research has released a report titled, “System in Package (SiP) technology market by packaging technology (2D IC packaging, 2.5D IC packaging, 3D IC packaging), by packaging method (Wire Bond, Flip Chip), by end user (consumer electronics, automotive, telecommunications, industrial system, aerospace and Defense, Others): Global Opportunities Analysis and Industry Forecast, 2020-2030.” According to the report, the global System in Packet (SIP) technology market has generated $14.8 billion in 2020, and is expected to reach $34.2 billion by 2030, with a CAGR of 9.7% from 2021 to 2030.
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Drivers, constraints and opportunities
Emergence of 5G network-connected devices, rise in demand for compact electronic gadgets with internet connectivity, and increase in Internet of Things (IoT) devices are driving the growth of the global technology market system in packet (SiP). However, the high level of integration resulting in thermal issues causes adoption issues, which in turn hinders market growth. On the other hand, the adoption of smartphones and smart wearable devices and the increase in strong demand from developing countries are creating new opportunities in the coming years.
- During the Covid-19 pandemic, there have been huge manufacturing disruptions across Europe and disruptions to Chinese parts export business. This has created barriers for the growth of the Global System in Package (SiP) technology market.
- Demand from end users such as automotive, aerospace and defense, and others has declined significantly due to difficulties in day-to-day operations during the lockdown. However, the demand increased steadily after the lockdown.
The 2.5D IC packaging segment will maintain its leading status during the forecast period
Based on packaging technology, the 2.5D IC packaging segment accounts for the highest market share in 2020, contributing about two-fifths of the global system-in-package (SiP) technology market, and is expected to maintain its leader status during the forecast period. This is due to a smaller package size than 2D ICs and improved capacity and performance. However, the 3D IC packaging segment is estimated to experience the highest CAGR of 10.4% from 2021 to 2030, due to the need for 3D stacking to shorten the interconnect length, increase the speed of signal and reduce power consumption and power dissipation.
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The consumer electronics segment will maintain its leading position throughout the forecast period
On an end-user basis, the consumer electronics segment contributed to the highest market share in 2020, accounting for more than a quarter of the global system-in-package (SiP) technology market, and is expected to maintain its leading position throughout the forecast period. This is attributed to the massive adoption of SiP technology to reduce component size and improve the efficiency of electronic devices. However, the telecommunications segment is expected to show the fastest CAGR of 12.6% from 2021 to 2030, owing to the characteristics of SiP technology such as improved chip functionality, minimization of chip area, the provision of the number of pinouts of processors and the application-specific integrated circuit (ASIC), and the increase in memory and pitch.
Asia Pacific provide lucrative opportunities
Based on the region, Asia Pacific accounted for the highest market share in terms of revenue in 2020, accounting for nearly half of the global system-in-package (SiP) technology market, and is expected to maintain its dominance in terms of revenue by 2030. Additionally, this region is estimated to register the fastest CAGR of 11.0% during the forecast period. This is due to the increase in investment by major players in solutions based on SiP packages. The research also analyzes regions including North America, Europeand LAMEA.
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Main market players
- Amkor Technology Inc.
- ASE Group
- Chipmos Technologies Inc.
- Fujitsu Ltd.
- Jiangsu Changjiang Electronics Technology Co., Ltd.
- Powertech Technologies Inc.
- Qualcomm Inc.
- Renesas Electronics Corporation
- Samsung Electronics Co., Ltd.
- Toshiba Company
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