System in Package (SiP) Technology Market report, published by Allied Market Research, forecasts that the global market is expected to garner $30 billion by 2022, registering a CAGR of 9% during the period 2016 - 2022.Asia-Pacific dominates the global market in terms of revenue, accounting for more than 50% share of the global market, followed by North America.

Portland, OR -- (SBWire) -- 09/28/2017 --System in packaging (SiP) technology is a mixture of various integrated circuits in a compact size to enable reduction of power consumption. Moreover, they offer numerous benefits, such as high efficiency, low system complexity, and reduced system maintenance. 2.5-D IC Packaging represents almost 40% of the total SiP market, owing to its resilience and high efficiency. In addition, substantial demand for electronics applications and trend of customer shift towards advanced IC packaging to achieve better efficiency are expected to fuel its adoption in the consumer electronics, telecommunication, and other industry sectors.

Global System in Package (SiP) Technology Market is expected to reach $30 billion by 2022, growing at a CAGR of 9.0% during the forecast period 2016 - 2022. SiP is a packaging technology, which contains multiple die in a single module. It is a mixture of various integrated circuits in a compact size, which further reduces the cost to develop and assemble a printed circuit board (PCB). SiP dies can be stacked vertically or tiled horizontally with standard off-chip wire bonds or solder bumps. SiP is widely adopted in several applications such as consumer electronics, automotive, and telecommunication owing to its enhanced efficiency and durability.

Boom in the portable electronic market, increase in popularity of Internet of Things (IoT) and adoption of SiP technology in graphic cards and processors for real world gaming have increased the rate of adoption of SiP in consumer electronics, automotive, telecommunication, and other sectors. Therefore, the global SiP market is expected to witness moderate growth in the near future, owing to compact size and enhanced durability. However, high cost and less customization hamper the market growth. Increase in demand for high frequency electronic gadgets are expected to provide lucrative opportunities to the market.

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SiP Technology is widely used across the applications such as consumer electronics, telecommunication, and automotive. Presently, rise in demand for portable electronic devices and adoption of SiP in graphic cards and processors are some factors that majorly drive the market. Moreover, increase in demand for high frequency electronic gadgets is expected to provide lucrative opportunities to market players. 2.5-D IC Packaging is the leading segment in the global SiP market, and is expected to maintain this trend throughout the forecast period. However, 3-D IC Packaging segment is expected to witness significant growth in the future, owing to the compact size and low power consumption.

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The flat package segment is projected to maintain its lead in the global SiP market, as this packaging type is used in various electronics applications such as computer, smart phone and other portable devices. Moreover, surface mount packaging is expected to grow owing to its stability and enhanced performance. Asia-Pacific region is the major revenue contributor in the flat package segment due to increase in demand for electronics applications with optimized size and low power consumption.

Among applications, consumer electronics segment dominated the global market in 2014, accounting for about 29% share. Boom in portable electronic market, increase in popularity of Internet of Things (IoT), and adoption of SiP technology in graphic cards and processors for real world gaming have fueled the market growth. However, telecommunication segment is expected to grow at the highest CAGR of 9.9% during the forecast period due to increase in demand for durable devices with enhanced efficiency.

Asia-Pacific region was the major revenue contributor in 2014, and is expected to maintain its dominance throughout the forecast period. This is attributed to the increase in number of electronic applications and data centers. Moreover, developments in consumer electronics and industrial systems would boost the growth of the SiP market, especially in the Asian countries, such as China, Japan, South Korea, and India.

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