System in Package (SiP) technology market size worth 22013.45 million US$ by 2027

According to the new research report published by The Insight Partners, titled “System in Package (SiP) Technology Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Packaging Technology, Package Type, Interconnect Technology and End-User Industry”, market was valued at US$13756.20 Million in 2019 and is projected to reach US$22013.45 Million by 2027; it is expected to grow at a CAGR of 8.4% from 2020 to 2027.

The growing trend of small form factor portable electronic devices is one of the major factors, which is accelerating the growth of the market. Technological advancements in electronic formation such as miniaturization have influenced various markets such as military, aerospace, medical, media, retail, and consumer electronics. Devices with small form factor packaging incorporate more features and become an alternative to traditional packaging systems. Personalized health care gadgets, slim size smartphones, compact PCs and other devices are occupied with system technology based components in the package such as processor, sensors, RF modules and others . Continuous development of advanced packaging technologies such as 3D ICs, 2.5D ICs, and others further complement the market by solving technical challenges, which in turn is driving the system-in-package technology market (SiP).

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Market overview

Electronic gadgets are developed using small form factor electronic components to enhance the space and improvise the final design of the product. Customers prefer small and compact portable electronic devices with maximum functionality. To improve the user experience, companies are developing miniaturized electronics to integrate as many components as possible into a single box. Integrating maximum number of components in a single package such as sensors, processors and others provides increased functionality for customers. The increase in the tech-savvy population is one of the main factors driving the miniaturization of electronics, as it has created fierce competition among market players to offer maximum functionality in devices.

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The global pandemic situation created by COVID-19 around the world, starting from China, has hampered the semiconductor industry and the economic growth of almost all countries. There is a serious impact on the manufacturing sector, as the facilities remained closed for a period of time. Sales of various industrial products such as motor cars, electronics and others are down. Offices, public places, schools, transportation and other spaces also remained closed, slowing market growth due to weak sales. Semiconductor industry has been hit hard by declining demand for electronic components across all industry sectors and end consumers, microelectronics revenue model has declined as no mass production has been done for the confinement period. After the lockdown, the semiconductor industry started to regain market share as production facilities restarted operation under social distancing measures. Additionally, working from home and remote monitoring strategies have also helped increase the sale of advanced electronics for better connectivity. The importance of the telecom industry has been highlighted for communication purposes, which has helped the industry evolve with new technology that is 5G-enabled and high-speed Wi-Fi. COVID-19 had a major impact on the semiconductor industry for the first half of 2020, while in the third quarter, according to the Semiconductor Industry Association (SIA), global sales increased by about 11%.

Among the rare large companies operating in the system-in-package (sip) technology market.

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About Us:

The Insight Partners is an industry-unique research provider of actionable intelligence. We help our clients find solutions to their research needs through our syndicated research and advisory services. We specialize in industries such as Semiconductors and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Health IT, Manufacturing and Construction, Medical Devices , technology, media and telecommunications, chemicals and materials.

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Contact Us: If you have any questions about this report or would like further information, please contact us: Contact Person: Sameer Joshi Email: [email protected] Telephone: +1-646-491- 9876

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