The global semiconductor packaging market is estimated to witness massive growth in forecast period, due to rapid adoption and continuous developments in consumer electronics. The North America region to foresee significant growth by 2028.
NEW YORK, Aug. 26, 2021 /PRNewswire/ -- Research Dive in its latest published report estimates that The Global Semiconductor Packaging Market will generate $52,271.6 million and exhibit a CAGR of 7.0% from 2021 to 2028.
Market Dynamics: Semiconductor Packaging Market
The usage of consumer electronics is growing rapidly across the globe owing to the increasing disposable income of people. In addition, continuous developments are taking place in consumer electronic products such as tablets, laptops, smart watches, fitness bands, and other electronic devices, where complex integration of semiconductors is required. These factors are predicted to boost the growth of the global semiconductor packaging market over the forecast period. Moreover, technological advancements in the semiconductor packaging such as the 3D technology is estimated to create massive opportunities for the growth of the global market by 2028. However, the high capital investment required with semiconductor packaging services is expected to restrict the market growth in the estimated timeframe.
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Impact of COVID-19 Pandemic on the Semiconductor Packaging Market
The COVID-19 outbreak has negatively impacted the global semiconductor packaging market during the pandemic. The decreasing growth of the industry is majorly attributed to disruption in global supply chain and the decreased production of semiconductor-based goods. However, many companies are taking initiatives and adopting several strategies to sustain during the pandemic. This is also expected to help the market recover losses in the coming future.
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Key Segment Findings of the Market:
The research report segments the global semiconductor packaging market into packaging platform, packaging material, end-user, and region.
- Based on packaging platform, the 3D stacking sub-segment valued for $3,749.4 million in 2020 and is anticipated to grow at the fastest rate during the forecast period. The rising demand for cost-effective and compact technology in semiconductor manufacturing is projected to open new scope of opportunities for 3D stacking sub-segment by 2028.
- Based on packaging material, the organic substrate sub-segment is expected to observe robust growth and generate a revenue of $16,486.2 million by 2028. The rising demand for portable electronic devices such as tablets, smartphones, portable digital assistant, and others around the world with the technological development in the semiconductor technology are factors driving the sub-segment's growth.
- Based on end-user, the consumer electronics sub-segment valued for $9,855.2 million in 2020 and is anticipated to have the largest share in the global market by 2028. This is majorly due to the increasing population along with high disposable income and the presence of large number of consumer electronic products such as smartphones, portable digital assistant, tablets, audio devices, and others across the globe.
- Based on region, the North America semiconductor packaging market generated $7,778.5 million in 2020 and is projected to register a revenue of $13,747.0 million by 2028. The significant growth of the region can be attributed to the early adoption of the advanced technologies such as AI and IoT in products and the presence of the most developed and established infrastructure technology.
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Top 10 Key Market Players and Business Strategies
The prominent players of the global semiconductor packaging market include -
- Intel Corporation
- SPTS Technologies Ltd.
- 3M
- Advanced Semiconductor Engineering, Inc.
- Applied Materials, Inc
- SÜSS MICROTEC SE
- GlobalFoundries U.S. Inc.
- Microchip Technology Inc.
- Taiwan Semiconductor Manufacturing Company Limited
- Amkor Technology Inc.
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These players are focusing on mergers, collaborations, product development, and launches to gain a competitive in the global market.
In August 2020, Samsung Electronics, a global leader in advanced semiconductor technology, announced the availability of its silicon-proven 3D integrated circuit (IC) packaging technology namely, 'eXtended-Cube (X-Cube),' for the most advanced process nodes.
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- Strategic Collaborations and Technological Advancements to Fuel the Growth of the Global Semiconductor Packaging Market by 2028
- The Global Semiconductor Packaging Market Anticipated To Generate A Revenue Of $52,271.6 Million, Growing At A CAGR Of 7.0% From 2021 To 2028 - Research Dive
- Semiconductor Packaging: Basic Types, Functions, and Covid-19 Impact
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