2D IC Segment to Dominate North America SiP technology Market during 2019–2027
According to The Insight Partners market research study on “North America SiP technology Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Packaging Technology, Packaging Type, Interconnection technique, and End-User Industry” is expected to reach US$ 7676.1 million by 2027 from US$ 4553.9 million in 2019. The market is estimated to grow at a CAGR of 9.1% from 2020 to 2027. The report provides trends prevailing in the North America SiP technology market along with the drivers and restraints pertaining to the market growth. Electronic miniaturization is at high demand and this is the major factor driving the growth of the North America SiP technology market. However, technological issues and other alternatives availability hinders the growth of North America SiP technology market.
The North America SiP technology market has been segmented into by packaging technology, packaging type, interconnection technique, and end-user industry. Based on packaging technology, the North America SiP technology market is segmented into into 2D IC, 2.5D IC, and 3D IC. 2D IC segment held the largest market share in 2019. Based on packaging type, the North America SiP technology market is segmented into flip-chip/wire-bond SiP, fan-out SiP and embedded SiP. Flip-chip/wire-bond SiP segment held a substantial market share in 2019. Based on interconnection technique, the North America SiP technology market is categorized into small outline, flat packages, pin grid arrays, surface mount, and others. Pin grid arrays held the largest share during the forecast period. Based on end-user industry, the North America SiP technology market is segmented into automotive, aerospace and defense, consumer electronics, telecommunication, and others. Consumer Electronics held the largest market share throughout the forecast period.
Also the ongoing COVID-19 is having a very devastating impact over the North America region. Presently, the US is the worst-affected country due to the COVID-19 outbreak. North America is one of the most important regions for the adoption and growth of new technologies owing to favorable government policies to boost innovation, the presence of a high-tech companies, and high purchasing power, especially in developed countries such as the US and Canada. North American market suffered huge loss in the first half of 2020 owing to high number of COVID-19 patient’s cases, specifically in the US. Post lockdown a market witnessed increasing demand for the digital devices. North America is among the eminent regions in the adoption of advanced network connection devices owing to favorable infrastructure support for high speed internet services. The adoption of the 5G network is supposed to drive the market growth post lockdown. The effect has major impact on manufacturing facilities as production capacities was lowered. Although, the demand for electronics remained still which helped the market to resume the growth. For instance, in December, 2020, Qualcomm Inc a leading manufacturer of microprocessors has predicted that shipments of 5G smartphones will double in year 2022, driven by increasing 5G network deployment. Such increasing adoption of 5G network is lowering the COVID-19 impact for the post lockdown period, while in lockdown it certainly hampered the market growth.
Amkor Technology, Inc.; ASE Technology Holding Co., Ltd.; ChipMOS TECHNOLOGIES INC.; JCET Group Co., Ltd.; Qualcomm Technologies, Inc.; Renesas Electronics Corporation; Samsung; Taiwan Semiconductor Manufacturing Company, Limited; and Texas Instruments Incorporated are among the leading companies in the North America SiP technology market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Renesas Electric Corporation completes its US $6.7 billion acquisition of Integrated Device Technology.
The report segments the North America SiP Technology Market follows:
North America SiP Technology Market – By Packaging Technology
- 2D IC
- 2.5D IC
- 3D IC
North America SiP Technology Market – By Packaging Type
- Flip-Chip/Wire-Bond SiP
- Fan-Out SiP
- Embedded SiP
North America SiP Technology Market – By Interconnection technique
- Small Outline
- Flat Packages
- Pin Grid Arrays
- Surface Mount
- Others
North America SiP Technology Market – By End-User Industry
- Automotive
- Aerospace and Defense
- Consumer Electronics
- Telecommunication
- Others
North America SiP Technology Market – By Country
- US
- Canada
- Mexico
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com