According to the recent study the semiconductor packaging market is projected to reach an estimated $29.2 billion by 2028 from $18.9 billion in 2023, at a CAGR of 9.0 from 2023 to 2028. Growth in this market is primarily driven by increase in demand for advanced packaging in consumer electronics and industrial products along with growing trend of miniaturization globally.
A more than 150-page report is developed to understand trends, opportunities and forecast in semiconductor packaging market by type (flip chip, embedded die, fan-in WLP, and fan-out WLP), technology (grid-array, small outline packaging, flat no-leads package, dual in-line packaging), end use industry (consumer electronics, automotive, healthcare, IT & telecommunication, and aerospace & defense), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Flip chip market is expected to remain the largest segment during the forecast period.”
Based on type, the semiconductor packaging market is segmented into flip chip, embedded die, fan-in WLP, and fan-out WLP. Lucintel forecasts that the flip chip market is expected to remain the largest segment due to growing demand for advanced high-performance in electronics for retail and commercial application and increasing penetration of electronic devices globally.
“Within the semiconductor packaging market, the consumer electronics segment is expected to remain the largest technology”
Based on technology the consumer electronics segment is expected to witness the highest growth over the forecast period due to increasing smartphone market and increasing adoption of consumer IoT devices in applications, like smart homes.
“Asia pacific will dominate the semiconductor packaging market in near future”
APAC is expected to witness the highest growth during the forecast period due to rising disposable income of the people and their preferences for smart homes and smart business environments, well-established industrial and economic base for consumer electronics production, and the presence of major semiconductor manufacturing and processing countries such as China, Japan, and Taiwan.
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Major players of semiconductor packaging market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Amkor Technology, ASE Technology Holding Co., Siliconware Precision Industries Co., SÜSS MICROTEC SE, Jiangsu Changjiang Electronics Tech Co, IBM, Intel Corporation, Qualcomm Technologies, STMicroelectronics, 3M, and Cisco Systems are among the major semiconductor packaging providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/semiconductor-packaging-market.aspx or [email protected]