Portland, Oct. 22, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global packaging market for compound semiconductor was estimated at $11.63 million in 2019 and is expected to hit at $25.61 billion by 2027, registering a CAGR of 10.4% from 2020 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Rise in demand for miniaturization of devices, improved system performances & optimization of compound semiconductor packaging, and emerging trends toward semiconductor wafers in the automotive industry propel the growth of the packaging market for compound semiconductor. On the other hand, high cost of compound semiconductor packaging restrains the growth to some extent. Nevertheless, emerging usage of compound semiconductors in smart technologies and ongoing trends of fan-out wafer level packaging are expected to create multiple opportunities in the industry.
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Covid-19 scenario-
- The outbreak of Covid-19 led to drop in demand for compound semiconductor from several industry domains. Also, huge disruptions in the supply chain jolted the market.
- Nevertheless, the government bodies have started easing off the existing regulations and the global market for compound semiconductor is expected to get back to its position soon.
The packaging market for compound semiconductor is analyzed across packaging platform, application, end-user, and region. By packaging platform, the flip chip segment contributed to more than half of the total market share in 2019 and is expected to retain its dominance by the end of 2027. At the same time, the fan-out WLP segment would manifest the fastest CAGR of 13.1% during the forecast period.
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By application, the CS power electronics segment accounted for nearly one-third of the total market revenue in 2019 and is projected to maintain the lion’s share till 2027. Simultaneously, the CS sensing segment would manifest the fastest CAGR of 12.6% from 2020 to 2027.
By region, China generated the highest share in 2019, holding nearly one-third of the global market. The US, at the same time, would grow at the fastest CAGR of 10.5% by 2027.
The key market players analyzed in the global packaging market for compound semiconductor report include Taiwan Semiconductor Manufacturing Company, Amkor Technology, Texas Instruments, Deca Technologies Inc., Qorvo, Fujitsu Limited, Jiangsu Changjiang Electronics Tech Co., ASE Technology, KLA Corporation, and Tokyo Electron Limited.
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These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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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.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.