The System in Package (SiP) Technology Market size is projected to reach US$ 35.20 billion by 2031 from US$ 15.36 billion in 2023. The market is expected to register a CAGR of 10.9% in 2023–2031. The growing demand for miniaturization of electronics is likely to remain a key System in Package (SiP) technology market trends.
It is projected that the introduction of 5G network-connected devices, the increased demand for small electronics devices with Internet connectivity, and the proliferation of Internet of Things (IoT) devices will propel the growth of the global system-in-package (SiP) technology business. Furthermore, the industry is developing due to the increasing use of smartphones and smart wearables. Higher levels of integration, however, might cause thermal problems, which is a significant market constraint. Conversely, strong demand from the Asia-Pacific region is anticipated to support market expansion throughout the projected timeframe.
The packaging technique known as "system in package" (SiP) integrates a number of passive and electrical subcomponents on one substrate. One of system in package (SiP) technology's main advantages is that it allows IC packages with many dies to be combined with active systems or subsystems inside the IC package. The market expansion for system in package (SiP) technology is expected to be bolstered by the growing adoption of SiP products in developing nations, particularly in the automotive segment. The market is increasing more quickly due to factors like the growing need for circuit miniaturization in microelectronic devices. Additionally, the newest trend in packaging design is the system.
The automotive sector, especially electric vehicles will experience growth in the forecast period due to the growing sensitivity of fossil fuel and increasing government measures towards a cleaner environment. For instance, in the automotive sector, giants like General Motors plan to release autonomous (driverless car) cars in 2021, while AUDI collaborated with Nvidia to develop a capability for non-human supervised car models. The prototype of this highly automated car is based on AUDI’s Q7 car model. SIP technology is used in smart and electric vehicles in its electric components such as power modules (ADI µModules), sensors (MEMS), transmission control units, vehicle central infotainment units, single-chip modules, etc. Thus, the growing automotive industry is propelling the System in Package (SiP) technology market growth.
Over the next five years, there will be significant congestion on wireless networks due to the availability of equipment that supports high bandwidth. This would accelerate the transition to 5G from the current 3G and 4G LTE technology. It is anticipated that the 5G technology will enable aggregate data rates that are substantially quicker than the current 4G and 3G data rates, respectively.
A number of significant nations, including the US, Japan, South Korea, the UK, Germany, and China, are anticipated to implement 5G technology by 2021. It is anticipated that this would result in a large rise in the number of mobile subscribers, necessitating the development of infrastructure capable of processing user demands for data. Consequently, there would be a rise in SiP-based RF components needed in order to deliver more data. Thus, the potential use of RF components in developing advanced 5G infrastructure is anticipated to present new opportunities for the System in Package (SiP) technology market players during the forecast period.
Key segments that contributed to the derivation of the System in Package (SiP) technology market analysis are packaging technology, packaging type, interconnection technique, and end-use industry.
The geographic scope of the System in Package (SiP) technology market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America. In terms of revenue, APAC accounted for the largest System in Package (SiP) technology market share. This is attributed to the surge in demand from emerging economic countries such as China, India, and South Korea.
The regional trends and factors influencing the System in Package (SiP) Technology Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses System in Package (SiP) Technology Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 15.36 billion |
| Market Size by 2031 | US$ 35.20 billion |
| Global CAGR (2023 - 2031) | 10.9% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Packaging Technology
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The System in Package (SiP) Technology Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the System in Package (SiP) Technology Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The system-in-package (SiP) technology market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for speech and language disorders and strategies:
(Source: Octavo Systems, Press Release)
The “System in Package (SiP) Technology Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The global System in Package (SiP) technology market was estimated to be US$ 15.36 billion in 2023 and is expected to grow at a CAGR of 10.9 % during the forecast period 2023 - 2031.
The growing automotive industry and the potential use of RF components in developing advanced 5g infrastructure are the major factors that propel the global System in Package (SiP) technology market.
The growing demand for the miniaturization of electronics is anticipated to play a significant role in the global System in Package (SiP) technology market in the coming years.
The key players holding majority shares in the global System in Package (SiP) technology market are ASE Group, Amkor Technology, Inc., ChipMOS TECHNOLOGIES INC., Fujitsu Ltd., and GS Nanotech.
The global System in Package (SiP) technology market is expected to reach US$ 35.20 billion by 2031.