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Advanced Packaging Market Size Headed to $64.19 Billion by 2027 | COVID-19 Impact and Growth Strategies by Major Players

Advanced Packaging Market

Advanced Packaging Market

PORTLAND, OREGON, UNITED STATES, October 14, 2020 /EINPresswire.com/ -- 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.

Major Driving Factors

Surge in demand for packaging of high performance chips used in various types of consumer electronics drives the growth of the global advanced packaging market. Asia-Pacific contributed the highest share in 2019, and will maintain its dominance throughout the forecast period. The advanced packaging utilization has been affected during the Covid-19 pandemic due to restrictions on the mobility of goods and significant disruption of the semiconductor supply chain.

Get detailed COVID-19 impact analysis on the Advanced Packaging Market: https://www.alliedmarketresearch.com/request-for-customization/2355?reqfor=covid

COVID-19 scenario: The novel coronavirus pandemic has had a significant impact on the packaging industry.

• The advanced packaging utilization has been affected during the Covid-19 pandemic due to restrictions on the mobility of goods and significant disruption of the semiconductor supply chain.
• Several major smartphone manufacturers across the globe have halted their operation amid the lockdown. This has led to decrease in demand for 2.5D and 3D packaging that are used in chips of several mobile devices and smartphones.

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.

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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.

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.

Major market players

Leading market players analyzed in the research include Intel Corporation, Amkor Technology, Taiwan Semiconductor Manufacturing Company, Qualcomm Technologies Inc., Microchip Technology, IBM, Texas Instruments Incorporated, Renesas Electronics Corporation, and Analog Devices.

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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.

Advanced Packaging Market Segmentation

By Type

• Flip Chip CSP
• Flip-Chip Ball Grid Array
• Wafer Level CSP
• 2.5D/3D
• Fan Out WLP
• Others

o Thin Quad Flat Packages
o Flip-Chip Package-in-Package
o Embedded Die
o Others

By End Use

• Consumer Electronics
• Automotive
• Industrial
• Healthcare
• Aerospace & Defense
• Others

o Oil & Gas
o Paper & Pulp
o Others

By Region

• North America

o U.S.
o Canada
o Mexico

• Europe

o UK
o Germany
o France
o Rest of Europe

• Asia-Pacific

o China
o India
o Japan
o South Korea
o Rest of Asia-Pacific

• LAMEA

o Latin America
o Middle East
o Africa

Access Report Summary: https://www.alliedmarketresearch.com/advanced-packaging-market

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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