Global Electronic Packaging Market is estimated to reach USD 2254.49 Million by 2025, registering a CAGR of 16.10% during the forecast period of 2019–2025. Interconnecting chips and electronic components into a microsystem is referred to as electronic packaging. Diodes, ICs, amplifiers, rectifiers, and chips are used in microsystems to protect internal components from shocks, water, and fire, among other things. Electronic goods and gadgets are packaged in this manner. Electronic packaging incorporates communication ICs, memory power management devices, analog, digital, mixed-signal ICs, and die shrinks in the same package to drive applications in clinical diagnostics, therapy, and medical imaging. Integrating electronics offers up a world of possibilities for the human interface, and higher-density, more energy-efficient battery technologies suggest that the electronic packaging market share will expand dramatically in the coming years.
The term electronic packaging refers to the design and manufacture of enclosures for electronic equipment ranging from single semiconductors to whole systems such as mainframe computers. Mechanical damage, cooling, radio frequency noise emission, and electrostatic discharge are all protected by this. To guard against electrostatic discharge, water, harsh weather conditions, corrosion, and dust, efficient electrical and semiconductor packaging is utilized throughout the manufacturing of consumer electronic goods such as smartphones, TVs, tablets, set-top boxes, and digital media adapters. It is employed in a variety of army and aerospace facilities that contain semiconductor devices, such as information handling units, information screen systems, and aircraft control units, since it allows for reduced board area, weight, and PCB routing complexity.
COVID 19 Analysis
Electronic package manufacturers have been forced to halt production due to government limitations implemented in the aftermath of the COVID-19 epidemic, which has disrupted the broader semiconductor manufacturing and supply chain. The COVID-19 epidemic has caused a drop in Electronic Packaging Market Demand. Due to the lockdown situation, gadget manufacturing has come to a halt. The worldwide Electronic Packaging Market's whole supply chain has been disrupted as a result of this. The Electronic Packaging Industry, on the other hand, sees an opportunity in the current crisis, as companies begin to work from home and end-users consume more information on digital platforms, increasing the need for storage and memory solutions for data centers, laptops, and other devices. The Electronic Packaging Industry is currently driven by the use of medical devices with integrated electronic packaging for bio-imaging and clinical diagnostics. After the shutdown and transportation restrictions are eased, companies that manufacture ICs and semiconductor devices are expected to update production planning, sourcing strategy, and change industry dynamics to drive growth, thus increasing the Electronic Packaging Market Size and Electronic Packaging Market Share.
One of the primary factors driving the market's growth and Electronic Packaging Market Demand is the rising demand for consumer electronics around the world. Additionally, the industry is growing due to the increasing adoption of smartphones around the world during the Electronic Packaging Market Forecast. The growing use of IoT and wireless devices around the world, as well as developments in these technologies, are all contributing to the worldwide electronic packaging market's growth. The market is primarily driven by the increased usage of consumer electronic gadgets such as smartphones, tablets, wearable devices, televisions, and digital cameras that include new packaging materials such as air bubble wraps and air pillows to protect against harsh weather conditions. Demand for all-weather protective packaging for fragile electronic equipment including routers, network servers, and sensors is also propelling the electronic packaging market forward.
Some of the challenges that are limiting the market's growth and decreasing the Electronic Packaging Market Key Players are worries about heat dissipation and the initial high cost of electronic packaging. The demand for high-quality military-grade packaging in the aerospace and defense sector for naval warships, satellite communication on-board channels, weapon control systems, data display systems, and aircraft guidance-control assemblies, on the other hand, is driving the electronic packaging market revenue. The growth of the IoT network market, as well as continuous R&D investments to enable more productive electronic and semiconductor packaging, are likely to open up new opportunities for the electronic packaging sector. However, potential reliability difficulties, such as stress sensitivity and complicated, difficult defect repair after components are soldered into the circuit board, tend to limit market expansion.
Leading electronic packaging companies to use the essential methodologies to produce cutting-edge solutions for the integration of flexible electronics, such as high-capacity batteries, and to provide compact electronic packaging. Curtiss-Wright, a global diversified product manufacturer and service provider, announced a new family of tiny Data Acquisition Systems (DAC) in May 2020 to provide system designers with a balanced square form factor. In electric and hybrid vehicles, electronic packaging of a large number of memory devices, processors, discrete power devices, sensors, analog, and digital circuits is integrated, revolutionizing the automotive landscape by transitioning from mechanical to electronic assemblies.
The Global Electronic Packaging Market is further bifurcated into various segments depending on various factors to help the market to grow as per the predicted CAGR growth by the end of the forecast period in 2025. The Global Electronic Packaging Market is segmented based on the following:
Electronic Packaging Market, By Material
Electronic Packaging Market, By Packaging Technology
Electronic Packaging Market, By End User
Electronic Packaging Market, By Region
Due to increased consumer electronics demand across the region, Asia-Pacific dominated the market during the historic forecast period and is likely to continue to do so over the forecast period. Furthermore, the existence of numerous electronic packaging firms offering electronic packaging material and technology, such as Samsung Electronics Corporation Ltd and Taiwan Semiconductor Manufacturing Co. Ltd, boosts the market in the area even further. Furthermore, expanding population and rising disposable income in the region are two important reasons driving up demand for consumer electronics, which is boosting the electronic packaging market in the region even faster. Furthermore, the region's global supremacy in semiconductor device manufacture is a crucial market driver. Major semiconductor packaging market players have manufacturing facilities in Asia-Pacific, which has accelerated the development of electronic packaging technologies and made products more accessible to the market. China, Japan, India, and the rest of Asia-Pacific are the countries that make up the area. During the historic forecast period, China dominated the market, followed by India. Additionally, government-backed programs and investments aimed at fostering cutting-edge technology and creating semiconductor packaging solutions help to propel the market forward.
Electronic packaging is a fragmented market. Microsystems are utilized in practically every industrial vertical, with consumer electronics, healthcare equipment, aerospace and defense, communications, and so on being some of the most important. Semiconductor devices, such as integrated circuits (ICs), have become an intrinsic element of machines as electronics have grown more integrated, resulting in a huge increase in electronic packaging. The Major Players continue to innovate and invest in R&D to offer a cost-effective product selection. There have been recent mergers and acquisitions among the major players, a tactic used by businesses to expand their consumer base. The major Electronic Packaging Market Key Players are as follows:
Electronic Packaging Market Recent Developments
Electronic Packaging Market Report Overview
The research provides an analytical analysis of the Electronic Packaging market forecast, including current trends and future projections, to identify potential investment opportunities. The study includes information on major drivers, restraints, and opportunities, as well as a full market analysis of electronic packaging. The present electronic packaging market trends are objectively examined. The analysis depicts the market's potency of buyers and providers.
Frequently Asked Questions (FAQ) :
A. The valuation of the electronic packaging market is assessed to touch USD 2254.49 Mn by 2025.
A. The electronic packaging market is poised to strike 16.10% CAGR over 2025.
A. The segments of the electronic packaging market, by packaging technology, are surface surface-mount technology (SMD), through-hole mounting, and chip-scale packages (CSP).
A. APAC is likely to thrive on account of the rising demand for consumer electronics.
A. By material, the segments of the electronic packaging market are plastic, glass, metal, and others.