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The latest report by IMARC Group, titled "Semiconductor Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," finds that the global semiconductor packaging market size reached US$ 29.7 Billion in 2021. Semiconductor packaging refers to a metallic, glass, ceramic, and plastic casing used to enclose one or more discrete semiconductor devices and integrated circuit (IC) chips. Some commonly used semiconductor packaging variants include flip chip, embedded die, fan-in wafer-level, and fan-out wafer-level packaging. It is widely used to protect logic units, silicon wafers, and memory devices against physical damage, environmental impact, and corrosion during the manufacturing process. As a result, semiconductor packaging is extensively utilized across various industries to enhance the functionality, performance, and power of the electronic system by preventing damage due to radiofrequency noise emission, cooling, electrostatic discharge, and mechanical factors.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Semiconductor Packaging Market Trends:
Significant expansion in the consumer electronics industry represents the primary factor driving the market growth. This can be attributed to the growing usage of semiconductors in small, lightweight, and portable electronic devices, such as smartphones, smartwatches, fitness bands, tablets, and laptops. Additionally, with the expanding automotive sector, the demand for semiconductor ICs has significantly increased for use in automobile parts, including airbag control, infotainment systems, anti-lock braking systems (ABS), windows, and collision detection devices. Along with this, the rising product adoption in medical equipment, such as ultrasound devices, patient monitors, ventilators, and mobile X-ray systems, has escalated the demand for semiconductor packaging. Furthermore, the leading manufacturers are focusing on research and development (R&D) activities to launch innovative packaging variants with enhanced characteristics, energy efficiency, and integration to meet the escalating product demand from various industries. Other factors, including the growing adoption of Internet of Things (IoT) devices, emerging applications in the aerospace and defense sectors, miniaturization of semiconductors, shifting inclination toward fan-out wafer-level packaging, and technological advancements, are also creating a positive market outlook. Looking forward, the market value is anticipated to reach US$ 47.92 Billion by 2027, expanding at a CAGR of 7.70% during the forecast period (2022-2027).
Market Summary:
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