Rise in internet of things (IoT) technology, high adoption of consumer electronics devices, and evolving trends toward semiconductor wafers in the automotive industry have boosted the growth global semiconductor packaging market. The market across Asia-Pacific dominated in 2020, holding nearly half of the market. The reduction in demand for mobile phones and showdown in production by OEMs hampered the semiconductor packaging market.
Portland,OR, July 22, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global semiconductor packaging market generated $27.10 billion in 2020, and is expected to reach $60.44 billion by 2030, registering a CAGR of 9.1% from 2021 to 2030.
Rise in internet of things (IoT) technology, high adoption of consumer electronics devices, and evolving trends toward semiconductor wafers in the automotive industry have boosted the growth global semiconductor packaging market. However, high-cost associated with semiconductor materials hinder the market growth. On the contrary, trend of fan-out wafer-level packaging is expected to open lucrative opportunities for the market players in the future.
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The Covid-19 pandemic negatively affected the electronics and semiconductor industry as the majority of the electronic components such as PCBs, LED chips and wafers, and ICs are imported from China. Moreover, the ban on international trade to comply with lockdown regulations in China hampered the market.
The Covid-19 affected consumers and the economy as electronics manufacturing hubs were shut down temporarily. This also affected the supply and revenue chain of the market. Moreover, the reduction in demand for mobile phones and showdown in production by OEMs hampered the semiconductor packaging market.
The report segments the global semiconductor packaging market on the basis of type, packaging material, wafer material, technology, industry vertical, and region.
Based on type, the flip-chip segment held the largest share in 2020, contributing to more than half of the market. However, the fan-out WLP segment is estimated to portray the highest CAGR of 11.8% from 2021 to 2030.
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On the basis of packaging material, the ceramic package segment is projected to manifest the highest CAGR of 9.9% during the forecast period. However, the organic substrate segment held the lion’s share in 2020, accounting for nearly half of the market.
The global semiconductor packaging market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific dominated in 2020, holding nearly half of the market. Moreover, the region is projected to showcase the highest CAGR of 10.1% during the forecast period.
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The global semiconductor packaging market includes an in-depth analysis of the prime market players such as ASE Group (Taiwan), Amkor Technology (U.S.), Powertech Technology, Inc. (Taiwan), ChipMOS Technologies, Inc. (Taiwan), Jiangsu Changjiang Electronics Technology Co., LTD (China), Intel Corporation (U.S.), Taiwan Semiconductor Manufacturing Company (Taiwan), Samsung Electronics Co., Ltd. (South Korea), Texas Instruments (U.S.), and Fujitsu Limited (Japan).
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