Global Advanced Packaging Industry Market Overview:
The global market for advanced packaging was USD 25.67 billion and is estimated to grow at a CAGR of 6.15% during the forecast period to reach USD 39.37 billion by 2022. The market is continuously growing with the aim to improve functionalities of packaging solutions, reducing manufacturing costs and be environment friendly. Without any doubt, the advanced packaging industry is on the move.
Emerging applications are bringing many new challenges. Packaging experts from all over the world are deeply involved in the development of innovative solutions to answer to the market demand dominated by megatrends. Megatrend will probably be the key word for the next 10-years within the advanced packaging industry, and more generally in the semiconductor industry.
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Global Advanced Packaging Industry Market – Drivers and Restraints:
The innovations in technology coupled with the cost-effective packaging functionalities is the principle factor promoting the growth of the global advanced packaging market. The expensive raw materials are the major constraints for market growth. This leads to higher procurement costs for the market vendors. Also, the cost of R&D involved in packaging solutions is quite high. Testing of solutions is elaborate, time-consuming and expensive.
The rising trend of adopting collaborative robots or cobots will have a major impact on the adoption of packaging market. These cobots are meant to work in collaboration with human workers. They incorporate advanced smart sensors such as torque sensors and built-in safety sensors to improve coordination and sense the environment.
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Global Advanced Packaging Industry Market – Geographic Segmentation:
The advanced packaging industry is geographically segmented into North America, Europe, Asia-Pacific, and LAMEA. The market in APAC region is said to witness the rapid growth in advanced packaging mainly in Japan and Australia with its application in fresh meat, fish, poultry, beer packaging, processed food, etc., during the forecast period. India, China and New Zealand are the key emerging markets in the industry while North America has the biggest share in the Market.
List of Key Players in Global Advanced Packaging Industry Market:
The key players of advanced packaging industry Amkor Technology Inc., Taiwan Semiconductor Manufacturing Company, STATS ChipPAC Ltd, Advanced Semiconductor Engineering Inc., United Microelectronics Corporation and Semiconductor Manufacturing International Corporation, amongst others.
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