Major drivers for the global multi-chip modules market include the rising demand for advanced computing capabilities in consumer electronics, automotive electronics, and aerospace and defense applications. The rise of high-power phones capable of performing processing-intensive tasks has been a key feature of the smartphones industry in the recent past, with companies such as OnePlus, Samsung, and Google taking the smartphones sector on a new level entirely in terms of computing capability and processing power. These operations are backed by the constant innovation taking place in the global IC industry, where innovations such as multi-chip modules are taking shape.
The global multi-chip module market is expected to exhibit a strong 6.1% CAGR over the forecast period from 2018 to 2023, according to a new report published by Market Research Future (MRFR).
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Multi-chip modules are an IC technology that allows for a single IC module to hold multiple processing units, increasing the overall output of the unit. The presence of multiple units on multi-chip modules makes the modules smaller and lighter than conventional modules, as well as reducing the costs compared to the number of separate modules that would have had to be produced by the conventional method to match the processing power of the multi-chip module. These features are highly suitable for the semiconductors industry, which is presently focused on miniaturization of electronic components as a key trend of the future. The growing demand for miniaturized electronic components is likely to be a major driver for the global multi-chip module market over the forecast period from 2018 to 2023.
Leading players in the global multi-chip modules market include Texas Instruments Inc., Tektronix Inc., Macronix International Co. Ltd., Cypress Semiconductor, Micross, STMicroelectronics, Samsung Electronics, Infineon Technologies, Palomar Technologies, and SK Hynix Inc.
Product development is likely to be the key strategy of leading players in the global multi-chip module market over the forecast period, as the demand for multi-chip modules is growing in various sectors, presenting opportunities for a wide range of products. Major players in the global multi-chip module market are also likely to focus on acquisitions and collaborations as a way of acquiring emerging technologies.
However, the market is also plagued by concerns of plagiarism. In May 2019, Xperi Corporation launched patent infringement lawsuits against Nvidia through two of its subsidiaries, Tessera Advanced Technologies and Invensas Corporation. The patents in question include one for a semiconductor apparatus that easily enables miniaturization of multi-chip modules and another for the manufacturing process of the same.
The global multi-chip module market is segmented by type, end-use industry vertical, and region.
By type, the global multi-chip module market is segmented into NAND-based MCP, NOR-based MCP, eMCP, and uMCP.
By industry vertical, the market is segmented into consumer electronics, automotive, medical devices, aerospace and defense, and others. Consumer electronics and automotive are likely to be the major contributors to the global multi-chip module market over the forecast period due to the growing demand for higher processing power and miniaturized electronic components in these industries.
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Asia Pacific is likely to dominate the global multi-chip modules market over the forecast period due to the growing semiconductors and consumer electronics industries in the region. China has been a leading producer of semiconductor and consumer electronics products over the last few years and is likely to remain a leading player in the global multi-chip module market over the forecast period. Leading Chinese companies are also emerging as major technology innovators in the semiconductors industry, making this region highly viable for the global multi-chip module market over the forecast period.
North America and Europe are also likely to hold leading shares in the global multi-chip module market over the forecast period, with North America expected to exhibit the highest growth over the forecast period. The presence of leading players in these regions is likely to present significant scope for growth of the multi-chip module market over the forecast period, while the growing demand for automotive technology and automation is also likely to be a major driver for the multi-chip module market over the forecast period.
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