Global Advanced Packaging Market to Reach US$ 98.3 Billion by 2032, Fostered by Increasing Sales of Electronic Devices

July 26, 2023 | Packaging

According to the latest report by IMARC Group, titled “Advanced Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” the global advanced packaging market size reached US$ 41.5 Billion in 2023. Advanced packaging is a specialized packaging technology that comprises the integration of various components and technologies into compact and efficient packaging. It offers improved electrical, thermal, and mechanical properties and enhances the performance, functionality, and reliability of a product. Besides this, it allows manufacturers to achieve higher levels of integration, improved heat dissipation, enhanced signal integrity, and reduced power consumption. As a result, advanced packaging is widely employed in the telecommunications, automotive, healthcare, electronics, and aerospace and defense industries across the globe.

Global Advanced Packaging Market Trends:

At present, the escalating demand for high-speed and high-bandwidth applications, such as artificial intelligence (AI), and the Internet of Things (IoT), that reduce signal loss and allow faster data transmission represents one of the major factors impelling the growth of the market. Besides this, the growing adoption of advanced packaging due to the rising sales of electronic devices, such as laptops, smartphones, smartwatches, and desktops, is positively influencing the market. Additionally, increasing advancements in semiconductor technology, such as system-on-chip (SoC) and system-in-package (SiP) solutions, are offering lucrative growth opportunities to industry investors. Apart from this, the rising demand for miniaturized electronic devices with higher functionality and performance is propelling the growth of the market. In addition, key players are focusing on introducing eco-friendly packaging solutions by utilizing recyclable materials and implementing efficient manufacturing processes that minimize waste and energy consumption. Looking forward, the market value is projected to reach US$ 98.3 Billion by 2032, expanding at a CAGR of 10% during 2024-2032.

Market Summary:

Based on the type, the market has been segregated into flip-chip ball grid array, flip chip CSP, wafer level CSP, 5D/3D, fan out WLP, and others. At present, flip-chip ball grid array dominates the market, holding the largest share.
On the basis of the end use, the market has been classified into consumer electronics, automotive, industrial, healthcare, aerospace and defense, and others. Presently, consumer electronics represent the largest segment.
Region-wise, the market has been segmented into North America (United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, Asia Pacific enjoys the leading position in the market.
The competitive landscape of the market has also been examined, with some of the key players being Advanced Semiconductor Engineering Inc., Amkor Technology Inc., Analog Devices Inc., Brewer Science, ChipMOS Technologies Inc., Microchip Technology Inc., Powertech Technology Inc., Samsung Electronics Co. Ltd, SÜSS MicroTec SE, Taiwan Semiconductor Manufacturing Company Limited, Texas Instruments Incorporated, and Universal Instruments Corporation (CBA Group Inc.).

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Type, End Use, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Advanced Semiconductor Engineering Inc., Amkor Technology Inc., Analog Devices Inc., Brewer Science, ChipMOS Technologies Inc., Microchip Technology Inc., Powertech Technology Inc., Samsung Electronics Co. Ltd, SÜSS MicroTec SE, Taiwan Semiconductor Manufacturing Company Limited, Texas Instruments Incorporated and Universal Instruments Corporation (CBA Group Inc.)
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Global Advanced Packaging Market to Reach US$ 98.3 Billion by 2032, Fostered by Increasing Sales of Electronic Devices

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