Rising demand for higher performance and increased miniaturization of electronic devices is expected to drive market expansion in the near futureat a CAGR of 8.30% during the forecast period 2023 to 2032
The Advanced Packaging market is estimated to register a CAGR of 8.30% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Advanced Packaging market—Renesas Electronics, Texas Instruments, Toshiba Corporation, Intel Corporation, Qualcomm Corporation, International Business Machine Corporation, Analog Devices, Microchip Technology Inc.
The global Advanced Packaging market is accounted to register a CAGR of 8.30% during the forecast period and is estimated to reach USD 62.10 billion by 2032.
The semiconductor industry is experiencing growth in miniaturized electrical devices because of the rising need for high-performance electronics. Moreover, there has been a rise in the demand for nanoscale surgical robots. Each node's semiconductor design and manufacturing would be prohibitively expensive. Traditional wafer-level packaging solutions for integrated circuits are improved by fan-out wafer-level packaging. A number of crucial components contribute to the global of These include embedding embedded device integration, flip-chip reflow, increased wafer-level yield, wafer bumping, and 3D integrated circuit packaging.
The global Advanced Packaging markethas been segmented based type and end user.
On the basis of type, the market is segmented into Flip Chip Scale Package, Flip Chip Grid Array, Wafer Level Chip Scale Packaging, 5d/3D, Fan Out Wafer-level Packaging, and Others. The flip chip ball grid array segment was attributed to holding the largest market share in 2022. The controlled collapse chip connection method is used to make the die to substrate connection of the flip-chip ball grid array, a low-cost, high-performance semiconductor packaging technology.
Based on end user, the global Advanced Packaging market has been segmented into Consumer Electronics, Healthcare, Aerospace and Defense, Automotive, and Other. The consumer electronics segment was expected to hold the largest market share in 2022 due to demand for more compact, energy-efficient, and feature-rich devices.
The global Advanced Packaging market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Advanced Packaging market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Advanced Packaging market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Advanced Packaging market comprises of Middle East, Africa, and Latin America.
The largest market share for Advanced Packaging was maintained by the North American regional sector.The second-largest portion of the global market for advanced packaging is accounted for by North America. The increase in North American consumers' disposable income is what is driving sales of modern packaging that is installed in that region. The requirement for technological platforms that are intelligent, smart, and versatile has increased the usage of creative packaging techniques. The energy and power sector is using more advanced technologies, which is accelerating market expansion.
Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Advanced Packaging Market
Moreover, the Europe market has been persistently growing over the forecast period. The demand for Advanced Packaging is driven by the rising need for high-performance electronicsand manufacturing. The market expansion is supported by rapid growth in the advanced packaging market, specifically fan-outwafer-level packaging, along with the increase in demand for smartphones and devices and the Internet.
Additionally, Asia-Pacific is the most lucrative market for advanced packaging since there are more high-end upgrading technologies available, there is a greater need for smart gadgets, and manufacturing has expanded. The fastest-growing region on earth is this one. A number of useful non-profit organizations are also contributing to the advancement of packaging technologies. The rise of the advanced packaging market in the region is fueled by the numerous actions taken by these organizations to build better power infrastructure.
Furthermore, the rest of the world's Advanced Packaging market is divided into the Middle East, Africa, and Latin America. This growth is attributed to the region's rising more use of compact, energy-efficient, and feature-rich device. Government support, a rise in investor interest, and the viability of the technology in the sector are all contributing factors to the market expansion.
Key Findings of the Study