The Global System in Package (SIP) Market Size Was Worth USD 5.44 Billion in 2016 and Is Projected to Grow to USD 13.87 Billion by 2030, at a CAGR of 9.4% Over The Forecast Period 2022 to 2030
System in Package (SIP): Introduction
SiP is an innovative packaging technology that has multiple dies within a single module. It’s a combination of different integrated circuits in small size and reduces the expense of developing and building a Printed Circuit Board (PCB). SiP dies are stackable and are horizontally or vertically tiled using traditional wire bonds off-chip and solder bumps. SiP is widely used in various applications like automotive, consumer electronics, and telecommunications due to its superior performance and endurance.
The explosion of the electronic market for portable devices, increasing the demand for Internet of Things (IoT), and the widespread adoption of SiP technology in graphics cards and processors designed for real-world gaming has boosted the adoption rate of SiP in the consumer electronic, automobile, telecom, and many other areas. Thus the worldwide SiP market is likely to grow moderately in the near term due to its smaller size and increased durability. However, the high cost , and limited customization hampers the market’s expansion. The rising demand for high frequencies electronic gadgets is anticipated to create huge opportunities for the market.
The Global System in Package (SIP) Market Forecast:
The Global System in Package (SIP) Marketis estimated to reach a valuation of US$ 13.87Billion by the end of 2030, expanding at an annual rate of about 9.4% between 2022 and 2030.
Market Dynamics: Global System in Package (SIP) Market
Driver: Growing demand for miniaturization of electronic devices
Rapid R&D and technological advancements have increased the need for compact and reliable electronic devices. This has led to an ever-growing demand for miniature electronic devices. A variety of electronic devices are becoming more sophisticated due to the growth of semiconductor technology which requires the utilization of IC packaging technology for memory, logic, and RF, as well as sensors that can be integrated into tiny size forms.
SiP provides high-performance, low-power consumption solutions that have smaller footprints. Additionally, the decrease in length of wire in SiP can improve the efficiency of the circuit as well as reduce energy consumption through regulating the cycle duration as well as energy consumption. The SiP process allows the integration of multiple multichip modules like DRAM and others with the least interference.
Therefore, the rising utilization of IC packaging technology in smaller form for the development of electronic devices that are miniaturized is driving the expansion of this technology in the market for packaging.
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Opportunity: Potential use of RF components in developing advanced 5G infrastructure
The development of equipment that can support wireless networks and high bandwidth will experience an enormous amount of congestion in the next five years. This could trigger the switch from the current 3G and 4G LTE technology to 5G technology. The data rates that aggregate by 5G technology will be substantially faster than the current speed of 3G as well as 4G, respectively.
In 2021, various countries such as Japan, the US, South Korea, China, and Germany were anticipating to adopt 5G technology. This is expected to dramatically raise the numbers of mobile users and create a need for a new infrastructure to manage data requests from users. This would result in an increase in the demand for RF components that use SiP technology that can provide a higher data rate as well as better quality received signal in the course of the deployment.
However, the usage of high-bandwidth components in RF, like front-end modules (FEM), as well as the power amplifier module (PAM), antenna switch module (ASM), RFID module, as well as local interconnect network (LIN), transceiver SiP module, for wireless networks, are likely to face design issues such as simulation of several chip designs, circuits that are passive and interconnect in one unit. This could open new avenues for SiP-based component manufacturers to be involved in the creation of advanced 5G infrastructures.
The Key Market Segmentation of the Global System in Package (SIP) Market:
This Research Report Categorized The Global System in Package (SIP) Market Based on Package, Packaging Technology, Packaging Method, Devices, Application, and Geographical Landscape.
System in Package (SIP) Market Segmentation By Package:
- Flat Packages
- Pin Grid Arrays
- Surface Mount
- Small Outline
System in Package (SIP) Market Segmentation By Packaging Technology:
- 2D IC
- 3D IC
- 5D IC
System in Package (SIP) Market Segmentation By Packaging Method:
- Wire Bond
- Flip Chip
- Fan-Out Wafer Leve
System in Package (SIP) Market Segmentation By Devices:
- Power Management Integrated Circuit (PMIC)
- Microelectromechanical Systems (MEMS)
- RF Front-End
- RF Power Amplifier
- Application Processor
- Baseband Processor
- Others
System in Package (SIP) Market Segmentation By Application:
- Consumer Electronics
- Telecommunications
- Industrial Systems
- Automotive and Transportation
- Aerospace and Defense
- Healthcare
- Other Applications
System in Package (SIP) Market Segmentation By Geographical Landscape:
- North America
- Europe
- Asia Pacific
- South America
- Middle East and Africa
Major Key Players in the Global System in Package (SIP) Market Are:
- Amkor Technology, Inc.
- ASE Technology Holding Co. Ltd
- ChipMOS TECHNOLOGIES INC
- Samsung
- Renesas Electronics Corporation
- Texas Instruments Incorporated
- GS Nanotech
- JCET Group Co., Ltd.
- QUALCOMM INCORPORATED
- Taiwan Semiconductor Manufacturing Company, Limited
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The Covid-19 Impact Analysis:
The global pandemic triggered by COVID-19 throughout the world, starting in China, has hampered the semiconductor industry as well as the economic growth in almost every nation. The severe impact on the manufacturing industry could be seen as facilities were shut for a long period. Sales of various industrial items like automotive vehicles, electronic equipment, and other products also reduced due the closure of Office spaces, public areas transport, schools, and other areas for indefinite periods.
The industry of semiconductors faced a huge loss as demand for electronic components decreased from all industries and end consumers. The income model for semiconductors experienced downfall as there was no mass production during the lockdown.
But with various nations lifting lockdowns and other COVID 19 restrictions, the semiconductor industry is picking up pace and has begun to recover market share after production facilities resumed operations while adhering to all the safety protocols. Escalatingdemand for small form factor-based electronic devices specifically designed for health monitoring as well as smartphones is further fuelling market progression.
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