The report finds that shipment value of the Taiwanese IC packaging and testing industry continued to grow sequentially and year-on-year to approximately US$3.55 billion in the fourth quarter of 2016. This was mainly attributed to growing demand for chips found in variety of applications such as IoT microcontrollers, smart car sensors, and graphic cards, virtual reality headsets, and wearable devices. With shipment value of USD 13.0 billion,   Taiwan's global share is estaimated at 53.6%, making it the world's largest fabless IC industry.