San Jose -- With 116 billion ICs produced in 2005, the value of the worldwide IC packaging market was $23.1 billion in 2005, reports Electronic Trend Publications. Of this worldwide total, 37 billion ICs were assembled by contract packaging companies for a value of $9 billion.

The report predicts that the worldwide semiconductor industry will ship 193 billion ICs in 2010. At that time, the value of the IC packaging market will be $34.6 billion.