Semiconductor Packaging Market Poised to Expand at a Robust Pace Over 2030

The semiconductor packaging market size in Asia-Pacific is expected to grow at the highest rate during the forecast period, owing to increase in adoption of electric vehicles and high demand for automated switching devices and power modules. Moreover, availability of high-end enhanced technologies, increase in demand for smart electronics, and growth in manufacturing industries are projected to contribute to the growth of packaging technology in Asia-Pacific. Allied Market Research, titled, "Semiconductor Packaging Market by Type, Packaging Material, Wafer Material, Technology, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021-2030" the global semiconductor packaging market size was valued at $27.10 billion in 2020 and is projected to reach $60.44 billion by 2030, registering a CAGR of 9.10% during the forecast period. Asia-Pacific is expected to be the leading contributor to the global market, followed by North America and Europe.

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Semiconductor packaging is an advanced semiconductor packaging technology where the layers of components inside an integrated circuit (IC) are stacked together while the horizontal and vertical connections are made to keep them in place and work as a single device. Semiconductor packaging offers distinct advantages over other packaging technologies such as reduced power consumption, enhanced efficiency, better overall performance, and high frequency of operation.

Emerging technologies, such as artificial intelligence (AI) and quantum computing, require compound semiconductors to achieve full commercialization. The UK has a rich heritage of microprocessor design, with companies, such as ARM and Imagination Technologies, and new start-up companies designing AI processors, such as Bristol-based GraphCore, which are expected to create lucrative opportunities for the global semiconductor packaging market growth.

China is the largest country, in terms of revenue generation, in the global semiconductor packaging market share. The semiconductor packaging industry is well-established in China and Taiwan. In addition, rapid growth in sales of consumer electronic products supplements the market growth. Moreover, the increase in defense expenditure and widespread use of semiconductor material in IT & telecommunication, consumer electronics, and automotive industries drive the growth of the semiconductor packaging market revenue. An increase in demand for high-speed and compact-size electronic products boosts the adoption of flip-chip technology in the electronic industry. The Internet of Things (IoT) has been gaining popularity and serves as a key driver of the

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Competitive Analysis:

The Semiconductor Packaging industry's key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.

Some of the major key players in the global Semiconductor Packaging Market include,

ChipMOS Technologies, Inc.
ASE Group
Taiwan Semiconductor Manufacturing Company
Texas Instruments
Amkor Technology, Inc.
Intel Corporation
Powertech Technology, Inc.
Fujitsu Ltd.
Samsung Electronics Co., Ltd.
Jiangsu Changjiang Electronics Technology Co., LTD

Products used in IoT, such as sensors & actuators, analog & mixed-signal translators, and microcontrollers or embedded processors, require efficient and reliable packaging solutions, which can be done using flip chips, contributing the highest share in the global semiconductor packaging market. In comparison to customary wire-bond packaging, the flip chip offers various benefits such as superior thermal & electrical performance, substrate flexibility for varying performance requirements, remarkable I/O capability, reduced form factors, and well-established process equipment expertise.

By region, the semiconductor packaging market trends have been analyzed across North America, Europe, Asia-Pacific, and LAMEA. The market analysis identified that Asia-Pacific contributed the maximum revenue in 2020 and is expected to grow at a faster rate as compared to other regions.

The impact of COVID-19 on the manufacturing industry has significantly affected the global economy. Electronic components, such as PCBs, LED chips and wafers, ICs, and other semiconductor devices, are mostly imported from China. Attributed to the shutdown of manufacturing units, the prices of semiconductor components have increased by 2-3%, owing to a shortage of supplies.

The ongoing COVID-19 pandemic has abruptly reshaped the global economy. A sudden decline in infrastructure development and installation projects is expected to hamper the semiconductor packaging market growth for automotive and other industrial verticals.

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Key Findings Of The Study

- In 2020, the flip chip segment accounted for maximum revenue and is projected to grow at a notable CAGR of 8.40% during the forecast period.
- The consumer electronics segment accounted for more than 45% of the semiconductor packaging market share in 2020.
- The fan-out WLP segment is expected to witness the highest growth rate during the forecast period.
- The UK was the major shareholder in the Europe semiconductor packaging market, accounting for approximately 35% share in 2020.

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