Market Introduction
Semiconductor industry is evolving with innovations in product offering to support digitalization. Rising demand for the IoT based electronic devices to enhance connectivity is further propelling the market growth. Advent of 5G network in North America market created lucrative opportunity for the market player to develop new line of electronics devices, having compatibility with 5G connectivity. Rising miniaturization of the electronics to optimize space and design is being fulfilled with system in package technology. New electronic devices require enhanced performance within similar space or compact space for which major companies are selecting SiP. The advanced packaging technologies have to capacity to resolve the 5G chip performance requirements. New packaging technology such as SiP offers solution for various issues like heat dissipation, power consumption and product dimension with embedded antenna for enhanced speed. The system in package technologies are gaining major adoption in North America. Also, electronic miniaturization is at high demand is a major factor driving the North America SiP technology market.
Furthermore, COVID-19 is having a very devastating impact over the North America region. Presently, the US is the worst-affected country due to the COVID-19 outbreak. North America is one of the most important regions for the adoption and growth of new technologies owing to favorable government policies to boost innovation, the presence of a high-tech companies, and high purchasing power, especially in developed countries such as the US and Canada. North American market suffered huge loss in the first half of 2020 owing to high number of COVID-19 patient’s cases, specifically in the US. Post lockdown a market witnessed increasing demand for the digital devices. North America is among the eminent regions in the adoption of advanced network connection devices owing to favorable infrastructure support for high speed internet services. The adoption of the 5G network is supposed to drive the market growth post lockdown. The effect has major impact on manufacturing facilities as production capacities was lowered. Although, the demand for electronics remained still which helped the market to resume the growth. For instance, in December, 2020, Qualcomm Inc a leading manufacturer of microprocessors has predicted that shipments of 5G smartphones will double in year 2022, driven by increasing 5G network deployment. Such increasing adoption of 5G network is lowering the COVID-19 impact for the post lockdown period, while in lockdown it certainly hampered the market growth.
Market Overview and Dynamics
The SiP technology market in North America is expected to grow from US$ 4553.9 million in 2019 to US$ 7676.1 million by 2027; it is estimated to grow at a CAGR of 9.1% from 2020 to 2027. The system in package technology has huge opportunity in the smartphone and PC market to offers advanced processors, transmitters and other components. Technology is improving the device performance as well as offering better space utilization solution. Few market players are developing the processors and other components using the system in packaging technology, while for others its great opportunity to innovate new solution for smartphone and PC processors. For instance, March, 2019, Asus, one of the leading smartphone brands in North America market introduced new ZenFone Max Shot and ZenFone Max Plus M2 smartphones equipped with Qualcomm's new Snapdragon SiP1 chip. Similarly, in December, 2019, Qualcomm developed new arm-based processors for notebooks using the SE Technology’s system-in-package (SiP) services. Such development in the SiP offering in smartphone and PC applications clearly shows the potential opportunity for the market. Rising consumption of smartphones is major supporting factor for the market for which market players needs to provide more focus.
Key Market Segments
In terms of packaging technology, the 2D IC segment accounted for the largest share of the Europe SiP technology market in 2019. Based on packaging type, the flip-chip/wire-bond SiP segment held a larger market share of the Europe SiP technology market in 2019. On basis of interconnection technique, pin grid arrays held a substantial share throughout the forecast period. Based on end-user industry, consumer electronics segment is expected to hold largest market share during the forecast period.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the SiP technology market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Amkor Technology, Inc.; ASE Technology Holding Co., Ltd.; ChipMOS TECHNOLOGIES INC.; JCET Group Co., Ltd.; Qualcomm Technologies, Inc.; Renesas Electronics Corporation; Samsung; Taiwan Semiconductor Manufacturing Company, Limited; and Texas Instruments Incorporated.
Reasons to buy report
North America SiP technology Market Segmentation
North America SiP technology Market - By Packaging
Technology
North America SiP technology Market - By Packaging Type
North America SiP technology Market - By Interconnection Technique
North America SiP technology Market - By End-User Industry
North America SiP technology Market, By Country
North America SiP technology Market - Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 4553.9 Million |
| Market Size by 2027 | US$ 7676.1 Million |
| CAGR (2020 - 2027) | 9.1% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Packaging Technology
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
Some of the leading companies are:
The North America SiP Technology Market is valued at US$ 4553.9 Million in 2019, it is projected to reach US$ 7676.1 Million by 2027.
As per our report North America SiP Technology Market, the market size is valued at US$ 4553.9 Million in 2019, projecting it to reach US$ 7676.1 Million by 2027. This translates to a CAGR of approximately 9.1% during the forecast period.
The North America SiP Technology Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America SiP Technology Market report:
The North America SiP Technology Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America SiP Technology Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America SiP Technology Market value chain can benefit from the information contained in a comprehensive market report.
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