-- Rise in demand for miniaturization of devices and improved system performances and optimization of advances packaging drive the global advanced packaging market. However, high cost of advanced packaging hampers the market growth. On the contrary, emerging trends of fan-out wafer level packaging would open new opportunities for the market players in the coming years.
Allied Market Research recently published a report, "Advanced Packaging Market by Type (Flip Chip CSP, Flip-Chip Ball Grid Array, Wafer Level CSP, 2.5D/3D, Fan-Out WLP, and Others), and End Use (Consumer Electronics, Automotive, Industrial, Healthcare, Aerospace & Defense, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027". According to the report, the global advanced packaging industry was pegged at $29.42 billion in 2019, and is anticipated to hit $64.19 billion by 2027, growing at a CAGR of 10.2% from 2020 to 2027.
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Key players operating with major advanced packaging market share include Amkor Technology, Intel Corporation, Qualcomm Technologies Inc., Taiwan Semiconductor Manufacturing Company, IBM, Microchip Technology, Renesas Electronics Corporation, Texas Instruments, and Analog Devices, which are profiled in this report.
Key Benefits For Stakeholders
This study comprises analytical depiction of the global advanced packaging market size along with the current advanced packaging market trends and future estimations to depict the imminent investment pockets.
The overall advanced packaging market analysis is determined to understand the profitable trends to gain a stronger foothold.
The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
The current advanced packaging market forecast is quantitatively analyzed from 2019 to 2027 to benchmark the financial competency.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the advanced packaging market.
Get detailed COVID-19 impact analysis on the Advanced Packaging Market: https://www.alliedmarketresearch.com/request-for-customization/2355?reqfor=covid
North America to manifest fastest CAGR by 2027-
Based on region, the North America region is expected to register the highest CAGR of 10.3% during the forecast period. On the other hand, the global advanced packaging market across Asia-Pacific held the largest share in 2019, accounting for nearly four-fifths of the market. This is due to the availability of high-end enhanced technologies, increase in demand for smart electronics, and growth in manufacturing industries.
The fan-out WLP segment to manifest highest growth through 2027
Based on type, the fan-out WLP segment is expected to register the fastest CAGR of 14.0% during the forecast period. This is due to its significant technical advantages, which has led to its huge commercialization. On the other hand, the flip-chip ball grid array segment held the largest share in 2019, accounting for nearly one-third of the global advanced packaging market. This is due to the applications it offers including chipsets for PC, servers, microprocessors for PC & servers, memory, network products, and cellular base stations.
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The agricultural formulations segment held the largest share
Based on end use, the consumer electronics segment dominated the global advanced packaging market in 2019, contributing to more than three-fifths of the total revenue, owing to high adoption of smart devices across various industry verticals and rising emergence of IoT. On the other hand, the healthcare segment is expected to register the highest CAGR of 12.4% during the forecast period. The emerging demand of advanced medical devices in the healthcare industry provides lucrative opportunity.
COVID-19 scenario: The novel coronavirus pandemic has had a significant impact on the packaging industry.
The market is likely to suffer during the pandemic due to disruptions in the supply chain, economic restraints, and paused manufacturing procedures.
The shutdown of other supporting sectors including electronics, automotive, industrial, and aerospace have resulted in declined demand.
Read More @ https://www.globenewswire.com/news-release/2020/08/04/2072585/0/en/Advanced-Packaging-Market-Headed-to-64-19-Billion-by-2027-at-10-2-CAGR.html
Related Reports:
3D Semiconductor Packaging Market by Technology (3D Through silicon via, 3D Package on Package, 3D Fan Out Based, 3D Wire Bonded),by Material (Organic Substrate, Bonding Wire, Leadframe, Encapsulation Resin, Ceramic Package, Die Attach Material),by Industry vertical (Electronics, Industrial, Automotive & Transport, Healthcare, IT & Telecommunication, Aerospace & Defense)- Global Opportunity Analysis and Industry Forecast, 2020-2027
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