[Research Report] The system in package (SiP) technology market was valued at US$ 13,756.20 million in 2019 and is projected to reach US$ 22,013.45 million by 2027; it is expected to grow at a CAGR of 8.4% from 2020 to 2027.
Electronics devices are getting evolved at rapid rate with integrating more electronic components is circuit boards for advanced features. The devices are getting compact in size with advanced packaging technology to offer enhanced control and space saving for customers. Miniaturization of electronic devices to enhance space in final devices is augmenting the system in package technology market growth. Advent of 5G network connected devices increased demand for system in package technology to integrate 5G supporting components in same space. In addition, growing adoption of smartphones and smart wearables are further supplementing the market growth. Smartphone and smart wearables are getting built using system in package technology to optimize the available space for more components integration.
Increasing adoption of compact electronics gadgets having internet connectivity are supporting the system in package technology to integrate maximum parts in single package. The global system in package (SiP) technology market is segmented in terms of packaging technology, packaging type, interconnection technique, end-use industry and geography. Based on packaging technology, is segmented into 2D IC, 2.5D IC, and 3D IC. In terms of packaging type, the market is segmented into flip-chip/wire-bond SiP, fan-out SiP and embedded SiP. Based on interconnection technique, the market is segmented into small outline, flat packages, pin grid arrays, surface mount, and others. In terms of end-use industry, the market is segmented into automotive, aerospace and defense, consumer electronics, telecommunication, and others. Based on region, the market is segmented into North America, Europe, Asia Pacific (APAC), and rest of the world.
Impact of COVID-19 Pandemic on System in package (SiP) technology Market
Global pandemic situation created by the COVID-19 across the world starting from China hampered the semiconductor industry and economic growth of almost every country. Severe impact on the manufacturing sector is witnessed as facilities remained closed for certain period. Sales of various industrial products such as automotive cars, electronics and others is declined. Office premise, public places, schools, transportation and other spaces also remained closed which declined market growth owing to low sale. The semiconductor industry took major hit as demand for electronics components is lowered from every industrial sector and end consumers, the revenue model for microelectronics has declined as no mass production was carried in the lockdown period. Post lockdown semiconductor industry started to regain the market share as production facilities restarted the operation with taking measure for social distancing. The increasing demand for the small form factor-based electronics devices specifically for health monitoring and smartphones augmented the market growth. For instance, in September, 2020, Apple, a leading brand of smart devices introduced new Apple Watch Series 6 using the S6 System in Package (SiP) and next-generation technologies.
Lucrative Regions in System in package (SiP) technology Market
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
System in package (SiP) technology Market Insights
Growing Demand for Miniaturization of Electronic
Electronics gadgets are getting developed using small form factor electronics components to enhance the space and improvise the final product design. Customers are preferring compact, small sized handheld electronic devices offering maximum features. To enhance user experience companies are developing miniaturized electronics to integrate maximum component ins single package. Integrating maximum number component in single package such as sensors, processor and others offers increased features for customers. Rising techno savvy population is one the major factor behind the miniaturization of electronics as it created stiff competition in market players to offer maximum number of features in devices.
Packaging Technology -Based Market Insights
Packaging technology has evolved rapidly to enhance the packaging of small electronics components in single package to optimize the space in final device. 2D IC and 2.5D IC technology offered effective solution for market but had some technological limitations, to overcome a new advanced 3D IC packaging technology is introduced, 3D IC packaging technology further reduced distance to form connection and to assure improved reliability and connectivity. 3D IC packaging technology is gaining strong demand in the market as it offers improved performance comparing to other technologies. In terms of packaging technology, the system in package (SiP) technology market is segmented into 2D IC, 2.5D IC and 3D IC.
System in package (SiP) technology Market, by Packaging Technology – 2019 and 2027
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Packaging Type - Based Market Insights
In terms of packaging type, the market is segmented into flip-chip/wire-bond SiP, fan-out SiP and embedded SiP. Each packaging type have specific benefits as per the application or end product. Flip-chip/wire bod technology offers the short length connection between boards and components. On other hand, fan-out packaging type offers the improved electrical and thermal performance within smaller footprint. Embedded packaging type offers further smaller footprint and high degree of miniaturization. Each technology has its own benefits which are suitable for the various electronics products such as smartphones, smart wearables, car components, PC boards and others.
Interconnection Technique -Based Market Insights
Based on interconnection technique, the market is segmented into small outline, flat packages, pin grid arrays, surface mount, and others. Pin grid arrays is a new emerging technology grabbing more attention of customers owing to benefits offered over other segments. Ceramic, plastic, flip-chip, and staggered arrays are different types of PGAs are available in the market as per the device requirement. The growth of smaller form factor technique to miniaturize electronic devices for automotive and consumer electronics sectors is improved the interconnection technique. Increasing smartphone consumption and wearable devices are propelling the growth of new interconnection techniques.
End-User Industry -Based Market Insights
Based on end-user industry, is segmented into automotive, aerospace & defense, consumer electronics, telecommunications, and others. The demand for compact electronics is surging with new advancement in end users such as smartphones are getting equipped with 5G modules, cars are getting advanced electronics, digital cockpits and others. Smartphones is becoming necessity for population in developed as well as developing nations. In addition, Smart wearables are playing major role in human health monitors. Such development in end user creating demand for small electronics device which supports market growth.
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System in Package (SiP) Technology Market: Strategic Insights
Market Size Value in US$ 13,756.20 Million in 2019 Market Size Value by US$ 22,013.45 Million by 2027 Growth rate CAGR of 8.4% from 2020 to 2027 Forecast Period 2020 - 2027 Base Year 2020
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System in Package (SiP) Technology Market: Strategic Insights
| Market Size Value in | US$ 13,756.20 Million in 2019 |
| Market Size Value by | US$ 22,013.45 Million by 2027 |
| Growth rate | CAGR of 8.4% from 2020 to 2027 |
| Forecast Period | 2020 - 2027 |
| Base Year | 2020 |
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Players operating in the system in package (SiP) technology market focus on strategies, such as market initiatives, acquisitions, and product launches, to maintain their positions in the system in package (SiP) technology market. A few developments by key players of the system in package (SiP) technology market are:
- In 2020, Qualcomm, Chunghwa Telecom, and ASE, jointly developed 5G mmWave enterprise private network smart factory in Taiwan.
- In 2019, Asus launched ASUS ZenFone Max Shot and ZenFone Max Plus (M2) smart phones in Brazil which are powered by Qualcomm’s first Snapdragon System in Package (SiP) chip. Further, the company announced development of Snapdragon SiP Factory in Jaguariúna, Brazil.
System in package (SiP) technology Market – by Packaging Technology
- 2D IC
- 2.5D IC
- 3D IC
System in package (SiP) technology Market – by Packaging Type
- Flip-Chip/Wire-Bond SiP
- Fan-Out SiP
- Embedded SiP
System in package (SiP) technology Market – by Interconnection Technology
- Small Outline
- Flat Packages
- Pin Grid Arrays
- Surface Mount
- Others
System in package (SiP) technology Market – by End-User Industry
- Small Outline
- Flat Packages
- Pin Grid Arrays
- Surface Mount
- Others
System in package (SiP) technology Market – by Geography
North America
- US
- Canada
- Mexico
Europe
- UK
- Germany
- France
- Italy
- Russia
- Rest of Europe
Asia Pacific (APAC)
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
Rest of the World
System in package (SiP) technology Market – Company Profiles
- Amkor Technology, Inc.
- ASE Technology Holding Co. Ltd
- ChipMOS TECHNOLOGIES INC
- GS Nanotech
- JCET Group Co., Ltd.
- QUALCOMM INCORPORATED
- Samsung
- Renesas Electronics Corporation
- Texas Instruments Incorporated
- Taiwan Semiconductor Manufacturing Company, Limited
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Application, End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, Canada, China, France, Germany, India, Italy, Japan, MEA, Mexico, Russian Federation, SAM, South Korea, United Kingdom, United States
Frequently Asked Questions
The growth of the browser isolation software market is primarily attributed to growing demand for miniaturization of electronic and rising development in network services- 5G network, thereby substantially driving the system in package (SiP) technology market.
The system in package technology has huge opportunity in the smartphone and PC market to offers advanced processors, transmitters and other components. Technology is improving the device performance as well as offering better space utilization solution. Few market players are developing the processors and other components using the system in packaging technology, while for others its great opportunity to innovate new solution for smartphone and PC processors.
The 2D IC technology has strong roots in the market as it is traditionally being used in a wide range of electronics. It connects different discrete devices using a printed circuit board with their packages. The technology offers large and bulky circuit board, which hinders its performance. A modern electronic components demand small ICs while 2D ICs, which leads to lowered demand for this technology.
The List of Companies - System in Package (SiP) Technology Market
- Amkor Technology, Inc.
- ASE Technology Holding Co. Ltd
- ChipMOS TECHNOLOGIES INC.
- GS Nanotech
- JCET Group Co., Ltd.
- QUALCOMM INCORPORATED
- Samsung
- Renesas Electronics Corporation
- Texas Instruments Incorporated
- Taiwan Semiconductor Manufacturing Company, Limited
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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