The system in package (SiP) technology market was valued at US$ 13,756.20 billion in 2019 and is projected to reach US$ 22,013.45 billion by 2027
The system in package (SiP) technology market is expected to grow at a CAGR of 8. 4% during the forecast period of 2020 to 2027. The global system in package (SiP) technology market has been segmented into four major regions—North America, Europe, APAC and rest of the word.
New York, Jan. 22, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "System in Package Technology Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Packaging Technology ; by Packaging Type ; Interconnection technique ; End-User Industry" - https://www.reportlinker.com/p06010105/?utm_source=GNW
In 2019, APAC led the global system in package (SiP) technology market with 49.7% revenue share. The North America region has strong penetration of advanced electronics devices compatible with advanced networking systems to connect network services of 5G, 4G and VoLTE. Also, Asian market witnesses’ massive growth in system in package (SiP) technologies about an increased adoption of smartphones and wearables devices. In developing nations of India and China market is driven by the growing population of techno savvy persons. Therefore, the adoption of system in package technology to miniaturize the electronic devices and small form factor based electronic demand is rising. China is one of the major countries which has a significant market share in the system in package (SiP) technology. Market driven by increasing smartphone and 5G network adoption. European countries such as UK, Italy, France and others shifting towards digitalization and automation which is driving the market growth.
In North America, the US is the most developed country. The U.S. country is an early adopter of technologies, the scope of the newly developed compact electronics is high in the North America region. More adoption of 5G network as well as compatible smartphones and other devices is witnessed in the US compared to other North American countries. This factor encourages system in package (SiP) technology providers to increased their focus to develop or innovate system in package technology for wide range of application.
The overall system in package (SiP) technology market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the system in package (SiP) technology market.
The process also serves the purpose of obtaining an overview and forecast for the system in package (SiP) technology market with respect to all the segments.It also provides the overview and forecast for the global system in package (SiP) technology market based on all the segmentation provided with respect to four major regions—North America, Europe, Asia Pacific, and rest of the World.
Also, primary interviews were conducted with industry participants and commentators to validate data as well as to gain more analytical insights into the topic. Participants of this process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts and key opinion leaders specializing in the system in package (SiP) technology market.
Read the full report: https://www.reportlinker.com/p06010105/?utm_source=GNW
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