A new report from Reportlinker.com titled “Semiconductor Packaging Market by Type, Packaging Material, Wafer Material (Simple Semiconductor and Compound Semiconductor (III-V, II-VI, and IV-IV, and Technology, and Industry Vertical : Global Opportunity Analysis and Industry Forecast, 2021–2030” predicts that the global semiconductor packaging market will reach $60.44 billion by 2030 from $27.10 billion in 2020, growing at a CAGR of 9.10% from 2021 to 2030.
With rapid growth in the semiconductor packaging market, specifically fan out wafer level packaging along with increasing demand for smartphone and devices and Internet of Things (IoT), packaging suppliers are developing processes and ways to reduce the overall cost of advanced packaging and provide maximum operational efficiency. During recent times, packaging is mainly used for high-end products and for applications related to niche-market, such as wafer and die production, due to its high cost in its operation.
The prominent factors that drive the growth of the semiconductor packaging market include growth of Internet of Things (IoT) technology, high adoption of consumer electronics devices, and evolving trends toward semiconductor wafers in the automotive industry. However, high cost associated with semiconductor packaging materials hampers its adoption, which is expected to pose a major threat to the global semiconductor packaging market. However, evolving trends toward the fan-out wafer level packaging are expected to provide lucrative opportunities to the market growth.
The global semiconductor packaging is segmented into type, packaging material, wafer material, technology, industry vertical, and region. Based on type, the market is divided into flip-chip, embedded die, fan-in WLP, and fan-out WLP. On the basis of packaging material, it is analyzed across organic substrate, bonding wire, leadframe, ceramic package, die attach material, and others. On the basis of wafer material, it is fragmented into simple semiconductor and compound semiconductor. Simple semiconductor is further sub-segmented into silicon (Si) and germanium (Ge). Compound semiconductor is further sub-segmented into III-V (Gallium Arsenide (GaAs), Indium Phosphide (InP), Gallium Nitride (GaN), Gallium Phosphide (GaP), and others), II-VI (Zinc Sulfide (ZnS) and Zinc Selenide (ZnSe)), and IV-IV (Silicon Carbide (SiC) and Silicon-Germanium (SiGe)). Based on technology, the market is categorized into grid array, small outline package, flat no-leads packages (Dual-flat no-leads (DFN) & Quad-flat no-leads (QFN)), dual in-line package (Plastic Dual Inline Package (PDIP) & Ceramic Dual Inline Package (CDIP)), and others.
By industry vertical, the market is studied across consumer electronics, automotive, healthcare, IT & telecommunication, aerospace & defense, and others. The automotive segment accounted for the highest market share in 2020, whereas the consumer electronics segment is expected to grow at the highest CAGR from 2021 to 2030. By region, the semiconductor packaging market trends are analyzed across the North America, Europe, Asia-Pacific, and LAMEA.