Global Semiconductor Packaging Market to Reach US$ 51.7 Billion by 2028, Catalyzed by Significant Growth in Consumer Electronics Industry

The latest report by IMARC Group, titled "Semiconductor Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," finds that the global semiconductor packaging market size reached US$ 32.4 Billion in 2022. 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.

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$ 51.7 Billion by 2028, expanding at a CAGR of 7.78% during the forecast period (2023-2028).

Market Summary:

• Based on the type, the market has been categorized into flip chip, embedded DIE, fan-in WLP, and fan-out WLP. 
• On the basis of the packaging material, the market has been divided into organic substrate, bonding wire, leadframe, ceramic package, die attach material, and others. 
• The market has been segregated based on technology into grid array, small outline package, flat no-leads package, dual in-line package, and others. 
• Based on the end user, the market has been classified into consumer electronics, automotive, healthcare, IT and telecommunication, aerospace and defense, and others. 
• Region-wise, the market has been segmented into North America (the 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 Middle East and Africa. 
• The competitive landscape of the market has also been analyzed with some of the key players being Amkor Technology Inc., ASE Group, ChipMOS Technologies Inc., Fujitsu Limited, Intel Corporation, International Business Machines Corporation, Jiangsu Changjiang Electronics Technology Co., Ltd., Powertech Technology Inc., Qualcomm Incorporated, Samsung Electronics Co. Ltd., STMicroelectronics International N.V., Taiwan Semiconductor Manufacturing Company Limited, and Texas Instruments Incorporated.

Report Scope:

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