New York, USA, Sept. 07, 2021 (GLOBE NEWSWIRE) — According to a report published by Research Dive, the global semiconductor packaging market is anticipated to generate a significant revenue of $52,271.6 million at a CAGR of 7.0% during the forecast period, 2021-2028.
The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market such as growth factors, challenges, restraints and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
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Dynamics of the Market
Drivers: Increased popularity and affordability of consumer electronics has influenced the growth of the global market of semiconductor packaging. Consumer electronics such as laptops, tablets, mobile phones, and smart watches require complex implementation of semiconductors. Moreover, the integration of Internet of Things and Artificial Intelligence in consumer electronics, and robotics, aerospace & defense sector has enhanced the application of semiconductor packaging. These are the major factors behind the growth of the market during the forecast period.
Restraint: The initial investment required in the designing, development, and setup of semiconductor packaging units is very high. This factor is expected to restrain the growth of the market during the forecast period.
Opportunity: The arrival of 3d semiconductor packaging technology is expected to create many opportunities for the market during the forecast period.
Key Segments of the Market
The report has divided the market into different segments based on packaging platform, packaging material, end-user, and regional analysis.
Packaging Platform: Flip Chip Sub-Segment Predicted to be the Most Lucrative
The flip chip sub-segment is predicted to generate a revenue of $24,903.7 million in 2028, surging from $16,654.9 million in 2020 during the forecast period. Rising demand of cutting-edge, high-performance consumer electronics from individual and commercial applications is expected to enhance the growth of the market segment in upcoming years.
Packaging Material: Organic Substrate Sub-Segment Expected to be the Most Profitable
The organic substrate sub-segment is predicted to dominate the market with a revenue of $16,486.2 million in 2028 during the forecast period. Organic substrate materials have many benefits such as temperature control, better electrical performance, and good dimensional control. This is the main factor behind the segment growth.
End-User: Consumer Electronic Sub-Segment Expected to be the Most Beneficial
The consumer electronics sub-segment is predicted to garner a revenue of $15,826.2 million by 2028, increasing from $9,855.2 million in 2020. The main factors behind the growth of this segment are the high disposable income and changing lifestyle where consumer electronics is the most essential element.
Regional Analysis: Asia-Pacific to Dominate the Market
The Asia-Pacific regional market is expected to grow at a CAGR of 6.8%, by generating a revenue of $19,078.5 million by the end of 2028. The regional countries have the presence of many major semiconductor manufacturing industries. Moreover, with the increasing per capita income of the countries in the region, the demand of semiconductor-based products has also increased. These are the major factors contributing to the growth of the regional market.
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Key Market Players & Strategies
The most prominent players of the global semiconductor packaging market include –
- Applied Materials, Inc.
- SPTS Technologies Ltd.
- Intel Corporation
- SÜSS MICROTEC SE
- Microchip Technology Inc.
- GlobalFoundries U.S. Inc.
- Advanced Semiconductor Engineering, Inc.
- Amkor Technology Inc.
- Taiwan Semiconductor Manufacturing Company Limited
These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market growth.
In May 2020, GLOBALFOUNDRIES® (GF®), the world’s leading specialty foundry and the leading U.S. pure-play manufacturer of semiconductors, announced about their plan to implement export control security measures at its most advanced manufacturing facility located at Fab 8, in Malta, New York.
The company will bring its Fab 8 facility into compliance with both the Export Administration Regulations (EAR) and the U.S. International Traffic in Arms Regulations (ITAR) standards, making the company the most advanced ITAR foundry in the country. This step is expected to strengthen GF’s partnership with the U.S. Department of Defense (DoD) and the U.S. defense industrial base. Inquire and Get Quick Access to Top Companies Development Strategies Summary Report
COVID-19 Impact Analysis
The coronavirus pandemic has impacted the global semiconductor packaging market in a negative way. During the pandemic, the demand of consumer electronics has decreased as people were stuck inside their homes due to the restrictions in going outside. This decreased demand resulted in reduction of manufacturing. The leading players of the market are focusing on developing strategies to help revive the market from this declining state.
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