Semiconductor Packaging Market Expected to Grow $60.44 billion by 2030 at 9.10% CAGR | Latest Trend & Industry Dynamics
Semiconductor Packaging Market Report
The semiconductor packaging market size in Asia-Pacific is expected to grow at the highest rate during the forecast period
WILMINGTON, DELAWARE , UNITED STATES, February 12, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, Semiconductor Packaging Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, Packaging Material, Wafer Material, and Technology, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021-2030
Global semiconductor packaging market size was valued at $27.10 billion in 2020 and is projected to reach $60.44 billion by 2030, registering a CAGR of 9.10% during the forecast period. Asia-Pacific is expected to be the leading contributor to the global market, followed by North America and Europe.
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The Semiconductor Packaging market is experiencing significant growth and transformation, driven by advancements in technology and the increasing demand for smaller, more efficient electronic devices across various industries. The global market is characterized by diverse packaging types, materials, wafer materials, and technologies catering to a wide range of industry verticals.
Semiconductor packaging is an advanced semiconductor packaging technology where the layers of components inside and integrated circuit (IC) are stacked together while the horizontal and vertical connections are made to keep them in place and work as a single device. Semiconductor packaging offers distinct advantages over other packaging technologies such as reduced power consumption, enhanced efficiency, better overall performance, and high frequency of operation.
Emerging technologies, such as artificial intelligence (AI) and quantum computing, require compound semiconductors to achieve full commercialization. The UK has a rich heritage of microprocessor design, with companies, such as ARM and Imagination Technologies, and new start-up companies designing AI processors, such as Bristol-based GraphCore, which are expected to create lucrative opportunities for the global semiconductor packaging market growth.
The rapid rise in power densities can lead to significant heat generation, increasing the risk of thermal hotspots and performance degradation. Effective thermal management is critical to prevent overheating and ensure consistent performance. Advanced packaging solutions, such as 3D packaging and integrated cooling mechanisms, help dissipate heat more efficiently and maintain optimal operating temperatures.
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China is the largest country, in terms of revenue generation, in the global semiconductor packaging market share. The semiconductor packaging industry is well-established in China and Taiwan. In addition, rapid growth in sales of consumer electronic products supplements the market growth. Moreover, increase in defense expenditure and widespread use of semiconductors material in IT & telecommunication, consumer electronics, and automotive industries drive the growth of the semiconductor packaging market revenue. Increase in demand for high-speed and compact size electronic products boosts the adoption of flip chip technology in the electronic industry. Internet of Things (IoT) has been gaining popularity and serves as a key driver of the market.
Products used in IoT, such as sensors & actuators, analog & mixed-signal translators, and microcontrollers or embedded processors, require efficient and reliable packaging solutions, which can be done using flip chips, contributed the highest share in the global semiconductor packaging market. In comparison to customary wire-bond packaging, flip chip offers various benefits such as superior thermal & electrical performance, substrate flexibility for varying performance requirements, remarkable I/O capability, reduced form factors, and well-established process equipment expertise.
By region, the semiconductor packaging market trends have been analyzed across North America, Europe, Asia-Pacific, and LAMEA. The market analysis had identified that Asia-Pacific contributed maximum revenue in 2020 and is expected to grow at a faster rate as compared to other regions.
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The key players profiled in the report include Amkor Technology (U.S.), ASE Group (Taiwan), ChipMOS Technologies, Inc. (Taiwan), Powertech Technology, Inc. (Taiwan), Intel Corporation (U.S.), Jiangsu Changjiang Electronics Technology Co., LTD (China), Samsung Electronics Co., Ltd. (South Korea), Taiwan Semiconductor Manufacturing Company (Taiwan), Texas Instruments (U.S.), and Fujitsu Limited (Japan). Market players have adopted various strategies, such as product launch, collaboration, product development, agreement, and expansion, to expand their foothold in the semiconductor packaging industry.
Key Findings Of The Study
• In 2020, the flip chip segment accounted for maximum revenue and is projected to grow at a notable CAGR of 8.40% during the forecast period.
• The consumer electronics segment accounted for more than 45% of the semiconductor packaging market share in 2020.
• The fan-out WLP segment is expected to witness the highest growth rate during the forecast period.
• UK was the major shareholder in the Europe semiconductor packaging market, accounting for approximately 35% share in 2020.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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