System in Package (SiP) Technology Market Competitive Landscape: Analysis of Key Players, Market Share, and Strategies

 


Industry Analysis

System in package (SiP) technology market size is valued at USD 24,302.85 million by 2028 is expected to grow at a compound annual growth rate of 10.40% in the forecast period of 2021 to 2028. Data Bridge Market Research report on system in package (SiP) technology provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.


Market Insights and Scope

System in package (SiP) technology generally refers to a module where numbers of integrated circuits are enclosed and create various enhanced packaging applications to build up solutions that can be customized as per the user requirement. SiP is largely used in digital music player, mobile phones and in many electronic functions. Systems on Chip (SoC) have several advantages such as flexibility, low product cost, low research and development cost, low NRE (non-recurring engineering) cost among others.

The high adoption of smartphones and smart wearables is expected to influence the growth of system in package (SiP) technology market over the forecast period of 2021 to 2028. Also the introduction of 5G network connected devices has raised the demand for system in package technology to incorporate 5G supporting components in same space is also anticipated to flourish the growth of the system in package (SiP) technology market. Furthermore, the rise in demand for high-performance electronic devices and appearance of advanced and compact consumer electronic devices and conventional packaging cost of ICs such as, packaging with the variation of sizes of the ICs are also likely to positively impact the growth of the system in package (SiP) technology market.


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