Selbyville, Delaware, Oct. 01, 2020 (GLOBE NEWSWIRE) --
Global Market Insights, Inc. has recently added a new report on advanced packaging market which estimates the global market valuation for advanced packaging will cross US$ 40 billion by 2026. Increasing adoption of 5G chipsets in smart phones and connected devices around the globe will drive the market growth as it delivers high performance, low power consumption, and improved dimensions. The fab operators are also more inclined toward accelerating their business operations for 5G technology.
The 2.5D/3D packaging technology segment held a market share of around 10% in 2019 and will exhibit a growth rate of 20% from 2020 to 2026. Growing adoption of these devices in memory devices, graphical processing units, and processors will fuel the segment demand. Also, these new advanced packaging technologies will reduce the size by 30 to 40 percent and improve the functionalities in processors and memory. The market players are integrating these new packaging technologies into their foundries to improve the volume and reduce the cost in bulk production.
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The industrial application is likely to witness 5% CAGR through 2026 owing to rising demand for industrial robots and automated machinery in various industries for manufacturing, pick & place, and other related tasks. These industrial robots are integrated with high-quality chipsets and ICs, increasing the requirements for advanced packaging to sustain in harsh environments and deliver improved connectivity in industries. The rising trend toward industrial robots has accelerated the demand for industrial robots.
Europe advanced packaging market held around 10% share in 2019 and is expected to witness CAGR of 5% during 2020-2026. Growing government initiatives toward the semiconductor industry development in the region will spur the regional market revenue. For example, the European Union has introduced the research & innovation program Horizon 2020, which provides a funding of around USD 94.22 billion. This will attract the local & foreign players to the European semiconductor industry, accelerating the demand for advanced packaging.
European chip makers are adopting several strategic initiatives such as collaborations and mergers with various manufacturers to enhance their fabrication operations. This will further propel the demand for advanced packaging.
Companies operating in the advanced packaging market are focusing on new product development and various business strategies to propel their market share among the competitors. For instance, in July 2020, Amkor Technology announced the development of flip chip and wire bond packaging for various devices manufactured on TSMC’s advanced low-K process technology.
Browse key industry insights spread across 250 pages with 105 market data tables and 41 figures & charts from the report, “Advanced Packaging Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/advanced-packaging-market
Some major findings of the advanced packaging market report include:
- The rising demand for IoT and AI devices will increase the demand for compact chipsets, accelerating the growth opportunities for advanced packaging market. According to the GSMA Association, in 2019, there were 6 billion IoT connections in Asia Pacific and is estimated to increase to 3.4 billion in 2025.
- Flip chip delivers high-volume manufacturing, improved input/output density, and small footprint, increasing their adoption in high-performance applications including aerospace, defense, and automotive, among others.
- The growing trend of compact electronic devices, such as smart watches, and smartphones, is increasing the growth opportunities for the advanced packaging market. These packaging types offer reduced size and high chip connectivity for complex circuitry in consumer electronics.
- The presence of major foundries in Asia Pacific and rising support from various governments in the region to accelerate the semiconductor manufacturing industry are providing an edge to the advanced packaging market.
- The COVID-19 outbreak has resulted in a decline of production capacity in various industries including consumer electronics, aerospace & defense, and automotive. This has adversely affected the designing and production of various semiconductor components among fabrication plants, thereby negatively influencing the market growth.
- High costs associated with advanced packaging will hamper the market growth. The foundries are experiencing high installation & maintenance costs associated with advanced packaging, therefore restraining their adoption.
- Companies operating in the advanced packaging market are focusing on integrating new packaging technologies to deliver high competitiveness among other players.
Some of the key players operating in the advanced packaging market are Amkor Technology, Inc, ASE Group, Chipbond Technology Corporation, Sanmina Corporation, Sigurd Microelectronics Corporation.
Browse complete reports table of contents (ToC): https://www.gminsights.com/toc/detail/advanced-packaging-market
Partial chapters of report table of contents (TOC):
Chapter 3. Advanced Packaging Insights
3.1. Industry segmentation
3.2. Industry landscape, 2016 – 2026
3.3. Impact analysis of corona virus (COVID-19) pandemic on advanced packaging market
3.3.1. Global outlook
3.3.2. Impact by region
3.3.2.1. North America
3.3.2.2. Europe
3.3.2.3. Asia Pacific
3.3.2.4. Latin America
3.3.2.5. MEA
3.3.3. Industry value chain
3.3.3.1. Research and development
3.3.3.2. Manufacturing
3.3.3.3. Marketing
3.3.3.4. Supply
3.3.4. Competitive landscape
3.3.4.1. Strategy
3.3.4.2. Distribution network
3.3.4.3. Business growth
3.4. Industry ecosystem analysis
3.4.1. Distribution channel
3.4.2. Vendor matrix
3.5. Technology & innovation landscape
3.6. Regulatory landscape
3.6.1. North America
3.6.2. Europe
3.6.3. Asia Pacific
3.6.4. LAMEA
3.7. Industry impact forces
3.7.1. Growth drivers
3.7.1.1. Rising demand for advanced and miniaturized semiconductor components in consumer electronics
3.7.1.2. Increasing demand for automotive components in automotive sector
3.7.1.3. Penetration of 5G technology in developing nations will accelerate the adoption of advanced packaging
3.7.1.4. Increasing development towards 2.5D/3D technology
3.7.1.5. Increasing trend towards IoT and AI technology around the globe
3.7.1.6. Government initiatives to propel semiconductor industry in North America and Europe
3.7.2. Industry pitfalls and challenges
3.7.2.1. High cost of advanced packaging is hampering the adoption
3.8. Growth potential analysis
3.9. Porter’s analysis
3.9.1. Industry rivalry
3.9.2. Threat of new entrants
3.9.3. Buyer power
3.9.4. Supplier power
3.9.5. Threat of substitutes
3.10. PESTEL analysis
Browse related report:
Packaging Equipment Market Size By Product (Fillers [Liquid Type, Powder Filling, Bottle Filling], FFS (Form Fill Seal) [Vertical, Horizontal], Capping [Screw Capping, Vial Coating, ROPP (Roll On Pilfer Proof) Cappers], Labelling [Wet Glue, Self-Adhesives, Rotary Sticker], Coding [Wet Ink System, Ink Jet System, Laser System, Hot Stamp, Thermal Transfer], Palletizing), By Application (Food & Beverage, Pharmaceuticals, Chemical, Personal Care), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2018 - 2024
https://www.gminsights.com/industry-analysis/packaging-equipment-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision-making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.