Advanced Chip Packaging Market Revenue will Reach US$52.7 Bn by 2030, Semiconductor Industry’s Expansion Favours Growth
The Impressive Growth Outlook of the Advanced Chip Packaging Industry is Setting the Stage for Unprecedented Technological Advancements. Fairfield Market Research Finds that the Electronics Sector Dominates, Riding High on Miniaturisation and Connectivity Trends.
London, Dec. 14, 2023 (GLOBE NEWSWIRE) — The global advanced chip packaging market is on a continuous upward trajectory, set to burgeon from US$30.2 Bn achieved in 2022 to an impressive US$52.7 Bn by the end of 2030. A newly published report of Fairfield Market Research indicates the estimated CAGR of 8.3% for the global market of advanced chip packaging, between 2023 and 2030.
The major growth drivers for the market include an escalating need for electronic devices with enhanced performance, miniaturisation trend, and functionality. Semiconductor manufacturers’ adoption of sophisticated packaging solutions to meet customer demands for smaller, faster, and feature-rich products forms a bright outlook for market growth.
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REPORT SCOPE
Report Attributes | Details | |
Base Year | 2022 | |
Forecast Year | 2023 – 2030 | |
Market Size in 2022 | US$30.2 Bn | |
Estimated Market Size in 2030 | US$52.7 Bn | |
CAGR | 8.3% | |
Growth Drivers |
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Segmentation |
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Regional Coverage |
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Key Players | Intel Corporation, Samsung Electronics Co. Ltd., Qualcomm Technologies Inc., ASE Group, Toshiba Corporation, Taiwan Semiconductor Manufacturing Company Limited (TSMC), Advanced Micro Devices Inc. (AMD), Amkor Technology, Inc., SK Hynix Inc., Texas Instruments Incorporated, Synapse Electronique, Universal Instruments Corporation, Siliconware Precision Industries Co. Ltd. (SPIL), Deca, Chipbond Technology Corporation |
Manufacturers prioritise small-sized electronic devices across industries like healthcare, consumer electronics, automotive, and semiconductor IC manufacturing. The rising need for high-performance electronics fuels growth in miniaturised electrical devices is likely to drive the demand for advanced chip packaging globally.
“As the demand for smaller, faster, and feature-rich electronic devices picks up pace, innovative packaging solutions are becoming increasingly pivotal in meeting consumer expectations. The opportunities for advanced chip packaging are thus on the rise in the long run,” remarks the company’s analyst.
Key Research Insights
- In 2022, the fan-out wafer-level packaging (FOWLP) category led the industry, catering to the rising demand for consumer electronics.
- The wafer-level chip scale package (WLCSP) segment is anticipated to dominate the global market share for advanced chip packaging.
- The electronics segment reigned supreme in 2022, poised for continued growth driven by the increasing demand for smart, connected homes.
Insights into Segmentation Analysis
Fan-Out Wafer-Level Packaging (FOWLP) Takes Centre Stage
In 2022, the FOWLP category asserted its dominance, propelled by escalating consumer demand for electronic devices, technological advancements in heterogeneous integration, and the enhanced stability and performance offered by FOWLP.
Notably, FOWLP packages usher in cost-effective multi-chip module integration, elevated reliability, and lower overall costs. The System-in-Package (SiP) solutions segment is poised for rapid growth, fuelled by the advent of 5G-connected devices, surging demand for compact electronics with internet connectivity, and the proliferation of IoT-enabled devices.
Wafer-Level Chip Scale Package (WLCSP) Surges Ahead
The WLCSP category commanded the industry’s forefront in 2022, riding a wave of demand for smaller, lighter, faster, and cost-effective electronic goods. The semiconductor packaging sector experiences rapid advancements in integrated circuit production, fostering the accelerated growth of wafer-level packaging technology.
Chip Scale Package (CSP) emerges as a significant player, driven by its cost-effective materials compared to traditional packaging processes.
Electronics Sector Leads the Charge
The electronics sector emerged as the leading segment in the advanced chip packaging market, dominating the landscape in 2022. Tailored electronics packaging solutions for semiconductor chips find applications in wearable technology, computing devices, and consumer electronics.
The market responds to the escalating demand for miniaturisation, energy-efficient packaging, and heightened connection densities to cater to the ever-growing need for compact and feature-rich electronic devices.
Telecommunications Category Represents a Pivotal Growth Area
Anticipated as the fastest-growing segment within the forecast timeframe, the telecommunications category focuses on network infrastructure, high-speed data connectivity, and semiconductor packaging solutions for 5G technologies.
The current trends centre around developing packaging methods that facilitate faster data transmission rates, improved connectivity, and low power consumption in telecommunication systems.
Key Report Highlights
- Advanced chip packaging supports the development of next-generation chip designs, fostering improved IC containers and encouraging system optimisation. The application of machine learning, AI, and deep learning across various industries offer a strong impetus to market expansion.
- The Asia Pacific region has emerged as the market powerhouse, driven by its status as the global manufacturing and technology hub. Robust growth is anticipated, propelled by a burgeoning demand for advanced chip packaging solutions.
- North America’s market is witnessing a surge, fuelled by a focus on developing cutting-edge hardware for AI, and machine learning technologies. The climbing EV adoption, and eco-friendly transportation options in the US contribute to the region’s expansion.
Insights into Regional Analysis
Asia Pacific Pioneers to Seize the Maximum Opportunity
The global landscape of the advanced chip packaging market witnesses dynamic shifts as Asia Pacific secures its position as the primary growth engine, driven by rapid industrialisation, and an insatiable hunger for cutting-edge technology.
Asia Pacific has emerged as the epicentre of the global advanced chip packaging market, showcasing unparalleled growth rates fueled by a relentless pursuit of innovative chip packaging solutions. The region’s economic ascendancy rides on the crest of upgraded technologies and a burgeoning appetite for smart devices, propelling manufacturing industries into an era of unparalleled expansion.
Contributing to this growth are several influential non-profit organisations dedicated to fostering technological advancement, especially in power infrastructure, which serves as a catalyst for the region’s thriving advanced chip packaging sector.
Moreover, the region’s unwavering emphasis on IoT applications, 5G deployment, and smart manufacturing initiatives fuels the demand for cutting-edge chip packaging methodologies. Asia Pacific’s commitment to technological evolution cements its status as the global leader in the advanced chip packaging domain.
North America Capitalises on the Smart Machinery Demand
North America leverages the surge in demand for smart machinery to reinforce its standing in the industry. The region secures a prominent position as the second-largest contributor to the global advanced chip packaging market. The surge in disposable income among North American consumers acts as a propeller for the demand for advanced chip packaging solutions.
Various industries’ clamour for ingenious and smart machinery and technology platforms has led to an increased adoption of innovative packaging solutions. The energy and power sector’s heightened adoption of advanced technologies especially are responsible for accelerating the market expansion here.
The anticipated integration of microprocessors and microcontrollers into consumer electronics and electric vehicles is slated to fuel the demand for advanced chip packaging solutions in the forthcoming years.
The burgeoning interest in electric vehicles and environmentally sustainable transport options propels the US market for advanced chip packaging, characterised by high reliability, efficient thermal management, and compact form factors.
Browse Global Advanced Chip Packaging Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 – (By Technology Coverage, By Packaging Coverage, By End-use Industry Coverage, By Geographic Coverage and By Company): https://www.fairfieldmarketresearch.com/report/advanced-chip-packaging-market
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