System in Package (SiP) Technology Market to Reach $34.2 Bn, Globally, by 2030 at 9.7% CAGR: Allied Market Research

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Jun 21, 2022, 03:38 ET

The emergence of 5G network connected devices and increase in the number of the internet of things (IoT) devices drive the growth of the global system in package (SiP) technology market.

PORTLAND, Ore., June 21, 2022 /PRNewswire/ -- Allied Market Research published 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, Telecommunication, Industrial System, Aerospace and Defense, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030." According to the report, the global system in package (sip) technology market generated $14.8 billion in 2020, and is expected to reach $34.2 billion by 2030, witnessing a CAGR of 9.7% from 2021 to 2030.

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Drivers, Restraints, and Opportunities

The emergence of 5G network connected devices, surge in demand for compact electronics gadgets with internet connectivity, and increase in the number of the internet of things (IoT) devices drive the growth of the global system in package (SiP) technology market. However, the high level of integration leading to thermal issues poses challenges in adoption, which, in turn, hinders the market growth. On the other hand, the adoption of smartphones & smart wearables and rise in high demand from developing countries create new opportunities in the coming years.

Covid-19 Scenario

During the Covid-19 pandemic, there have been huge manufacturing interruptions across Europe and interruptions in export activities of Chinese parts. This created hindrances in the market growth for global system in package (SiP) technology.
The demand from end users such as automotive, aerospace & defense, and others reduced considerably due to difficulties in daily operations during the lockdown. However, the demand rose steadily post-lockdown.

The 2.5D IC Packaging Segment to Maintain its Leadership Status during the Forecast Period

Based on packaging technology, the 2.5D IC packaging segment accounting for the highest market share in 2020, contributing to around two-fifths of the global system in package (SiP) technology market, and is projected to maintain its leadership status during the forecast period. This is due to smaller size of packaging than 2-D ICs and enhanced capacity and performance. However, the 3D IC packaging segment is estimated to witness the highest CAGR of 10.4% from 2021 to 2030, owing to the need for 3D stacking to shorten interconnection length, increase signal speed, and reduce power consumption and power dissipation.

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The Consumer Electronics Segment to Maintain its Lead Position throughout the Forecast Period

Based on end user, the consumer electronics segment contributed the highest market share in 2020, accounting for more than one-fourth of the global system in package (SiP) technology market, and is expected to maintain its lead position throughout the forecast period. This is attributed to surge in adoption of SiP Technology to reduce the size of the components and improve the efficiency of electronic appliances. However, the telecommunication segment is expected to manifest the fastest CAGR of 12.6% from 2021 to 2030, owing to features of SiP technology such as improvement in functionalities of the chips, minimization of the chip area, offering of the number of pin-outs of the processors & application-specific integrated circuit (ASICs), and increased memory & pitch.

Asia-Pacific to offer Lucrative Opportunities

Based on 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. Moreover, this region is estimated to register the fastest CAGR of 11.0% during the forecast period. This is due to rise in investment by prime players in SiP package-based solutions. The research also analyzes regions including North America, Europe, and LAMEA.

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Leading 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 Corporation

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