WASHINGTON, Feb. 02, 2022 (GLOBE NEWSWIRE) — The Global System in Package Market size is expected to reach over USD 16.70 Billion by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 9.8% during the forecast period from 2022-2028.
Surge in the portable electronic devices market, rise in adoption of System in Package technology in processors and graphic cards for real world gaming and popularity of Internet of Things (IoT) have grown the rate of adoption of System in Package in automotive, telecommunication, consumer electronics, and other industries. Therefore, the global system in Package market is likely to witness a substantial growth in the forecast period, due to enhanced durability and compact size. However, less customization and high cost could hinder the market growth. Rise in demand for electronic gadgets which are high frequency are likely to provide lucrative opportunities, states Vantage Market Research, in a report, titled “System In Package Market by Packaging Technology (2D IC, 2.5D IC, 3D IC), by Package Type (BGA, SOP), by Packaging Method (Flip chip, Wire bond), by Device (RF front-end, RF amplifier) , by Application (Consumer electronics, Communications), by Region (North America, Europe, Asia Pacific, Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)”.
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List of Prominent Players in the System in Package Market:
- Amkor Technology (US)
- ASE Group (Taiwan)
- SPIL (Taiwan)
- UTAC (Global A&T Electronics) (Singapore)
- Powertech Technology (Taiwan)
Driver: Growth in Technological Advancements and Electronic Industry
Rise in demand for compact size and high speed of electronic products have facilitated the need of System in Package technology. Additionally, the module size reduction coupled with improved thermal and electrical performance are the major requirements of products which are portable electronic devices such as digital camera & camcorders, smartphones, wearable electronics, household electronics, and laptops & tablets. Moreover, IoT earns popularity in the sector, and is considered as a new wave of technology.
Regional Trends: Asia Pacific is likely to dominate the market for system in package (SIP) owing to the increasing application of the technology especially, from consumer electronics industry along with popularity of several market players in the region.
Furthermore, Asia Pacific market for System in Package is expected to rise at the highest CAGR in the forecast period. The region has been active in the area of superconductivity from the beginning and is also consistently making enhancements in this technology.
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- Wire Bond to hold a Significant Share: Based on interconnection technology segment, the Wire Bond segment led the market in terms of revenue globally, and is likely to follow this trend in the coming years. The Flip Chip segment is also anticipated to witness huge growth owing to a rise in demand in consumer electronics sector for integrated chips.
- Consumer Electronics to hold a Significant Share: Based on the application segment it is divided into Consumer Electronics, Industrial, Automotive & Transportation, Aerospace & Defense, Healthcare, Emerging & Others, the consumer electronics segment dominated the market in terms of revenue contribution, owing to rising demand for IoT and portable electronic gadgets demand globally.
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The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the System in Package Market. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
The report on System in Package Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Browse market data Tables and Figures spread through 165 Pages and in-depth TOC on System In Package Market by Packaging Technology (2D IC, 2.5D IC, 3D IC), by Package Type (BGA, SOP), by Packaging Method (Flip chip, Wire bond.), by Device (RF front-end, RF amplifier), by Application (Consumer electronics, Communications), by Region (North America, Europe, Asia Pacific, Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)” View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/system-in-package-market-543009
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the System in Package Market?
- How will the System in Package Market change in the upcoming six years?
- Which application and product will take a lion’s share of the System in Package Market?
- What is the System in Package market drivers and restrictions?
- What will be the CAGR and size of the System in Package Market throughout the forecast period?
This market titled “System in Package Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
|Market Size in 2021||USD 8.68 Billion|
|Projected Market Size in 2028||USD 16.70 Billion|
|CAGR Growth Rate||CAGR of 9.8% from 2022–2028|
|Historic Years||2016 – 2020|
|Segments Covered||Packaging Technology: – 2D IC, 2.5D IC, 3D IC
Package Type: – BGA, SOP
Packaging Method: – Flip chip, Wire bond
Device: – RF front-end, RF amplifier
Application: – Consumer electronics, Communications
|Quantitative Data – Units||Revenue in USD Million/Billion and CAGR from 2022 to 2028|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Countries Covered||US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
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