The advanced chip packaging market size has grown rapidly in recent years. It will grow from $10.51 billion in 2023 to $12.41 billion in 2024 at a compound annual growth rate (CAGR) of 18.1%. The growth in the historic period can be attributed to the demand for smaller, more powerful consumer electronics, the rise of mobile devices and smartphones, the growth of high-speed data networks, increasing automotive electronics, and the evolution of computing needs. The advanced chip packaging market size is expected to see rapid growth in the next few years. It will grow to $24.29 billion in 2028 at a compound annual growth rate (CAGR) of 18.3%. The growth in the forecast period can be attributed to the proliferation of 5G technology, the growth of Internet of Things (IoT) devices, and the rise of artificial intelligence (AI) and machine learning, as well as the expansion of wearable technology. Major trends in the forecast period include the growing adoption of 3D packaging technologies, advanced thermal management, advancements in high-density interconnect technologies, the expansion of fan-out wafer-level packaging technologies, and the development of flexible and stretchable packaging technologies.
Global Advanced Chip Packaging Market Key Driver
The growing demand for consumer electronic devices is expected to propel the growth of the advanced chip packaging market going forward. A consumer electronic device is electronic equipment intended for everyday use, typically in private homes. With the expansion of the internet and wireless networks and the demand for devices such as smartphones, tablets, and laptops, there is a growing demand for consumer electronics. Advanced chip packaging technologies enable the integration of multiple functions into compact designs, crucial for high-performance consumer electronics. These packaging technologies enhance processing power, efficiency, and heat dissipation, supporting the development of feature-rich, compact devices. For instance, in May 2023, according to a report published by Japan Electronics and Information Technology Industries Association, a Japan-based trade association for the electronics and IT industries, consumer electronics production reached $209.50 million in May 2023, marking a 127% increase from the previous year. Therefore, the growing demand for consumer electronic devices is driving the growth of the advanced chip packaging market.
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Global Advanced Chip Packaging Market Segments
The advanced chip packaging market covered in this report is segmented –
1) By Packaging: Ball Grid Array (BGA), Quad Flat Package (QFP), Chip Scale Package (CSP), Wafer-Level Chip Scale Package (WLCSP)
2) By Technology: Five-Dimensional (5D) Packaging, Three-Dimensional (3D) Packaging, Fan-Out Wafer-Level Packaging, Flip-Chip Packaging, System-In-Package Solutions
3) By End-Use Industry: Electronics, Automotive, Telecommunications, Industrial, Healthcare, Aerospace And Defense
By Geography:The regions covered in the advanced chip packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the advanced chip packaging market in 2023.
Major Advanced Chip Packaging Industry Players
Samsung Electronics Co. Ltd., Advanced Micro Devices Inc., Advanced Semiconductor Engineering Inc, Henkel Group, Texas Instruments Incorporated, Lam Research Corporation, NXP Semiconductors, Onsemi, Amkor Technology, Nordson Corporation, Siliconware Precision Industries Co. Ltd., Kulicke and Soffa Industries Inc., ChipMOS Technologies Inc., SUSS MicroTec SE, EV Group, Indium Corporation, Palomar Technologies, Brewer Science Inc., MacDermid Alpha Electronics Solutions, Universal Instruments Corporation, CHIPBOND Technology Corporation
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Advanced Chip Packaging Market Overview
Advanced chip packaging refers to the advanced processes and technologies used to encapsulate and connect semiconductor devices (chips) to their external environment, which are commonly found within electronic devices. Advanced packaging provides design flexibility, allowing for the creation of unique solutions tailored to specific applications and performance needs.
Advanced Chip Packaging Global Market Report 2023 provides data on the global advanced chip packaging market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The advanced chip packaging market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
