Packaging Technologies: A Global Market Surge Promises Robust Growth to a Tune of $7.3 Billion at a CAGR of 14.0%

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How Has The Advanced Packaging Technologies Market Grown In Recent Years?

The advanced packaging technologies market has experienced significant growth in recent years. It is projected to escalate from $6.46 billion in 2023 to about $7.3 billion in 2024, reflecting a compound annual growth rate CAGR of 12.9%. This growth during the historic period has been driven by factors such as the rapid expansion of consumer electronics, mobile computing, enhanced thermal management, growing automotive electronics industry, and environmental considerations.

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What Is The Future Growth Projection For Advanced Packaging Technologies Market?

Looking ahead, the advanced packaging technologies market is predicted to see robust growth, as it is expected to reach $12.33 billion by 2028, growing at a CAGR of 14.0%. The forecast period's growth can be largely attributed to developments in areas like heterogeneous integration, quantum computing, flexible and stretchable electronics, supply chain resilience, and smart manufacturing. Major trends in the forecast period include advancements in interconnect technologies, fan-out wafer-level packaging, system-in-package, thermal management solutions, and embedded packaging for IoT devices.

Which Factors Have Informed The Expansion Of The Advanced Packaging Technologies Market?

A significant growth driver for the advanced packaging market going forward is the mounting demand for consumer electronics. Consumer electronics refer to any electronic equipment, gadgets, or devices that are regularly purchased and used for non-commercial or professional purposes by end-users. These electronics often fuel the demand for advanced packaging solutions as they play a crucial role in defining the sophistication and performance of the products. A case in point is how, in June 2021, Oberlo, a Lithuania-based e-commerce platform, reported that globally, 6.4 billion people use smartphones, marking a surge in consumer electronics consumption.

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Are There Major Industry Players Influencing The Advanced Packaging Technologies Market?

Major industry players driving the advanced packaging technologies market include Samsung Electronics, Taiwan Semiconductor Manufacturing Company, Intel Corporation, International Business Machines, Qualcomm Technologies, Advanced Semiconductor Engineering ASE, ASE Technology Holding Co. Ltd., and others. These big players contribute significantly to market expansion and are constantly seeking innovative solutions for advanced packaging to consolidate their positions in the semiconductor solutions space.

Which Trends Are Shaping The Advanced Packaging Technologies Market?

Innovations in technology are shaping the advanced packaging technologies market. For instance, Samsung Electronics, in May 2021, launched Interposer-Cube4 I-Cube4, an advanced chip packaging technology targeting high-performance applications. This 2.5D packaging technology facilitates improved communication and power efficiency among logic and memory chips and is projected to be widely adopted in multiple sectors, including high-performance computing, artificial intelligence AI, 5G, and cloud-based operations.

How Is The Advanced Packaging Technologies Market Segmented?
The advanced packaging technologies market is segmented in the following manner:

1 By Type: 3D Integrated Circuit, 2D Integrated Circuit, 2.5D Integrated Circuit, Other Types
2 By Product: Active Packaging, Smart And Intelligent Packaging
3 By End Use Industry: Automotive And Transport, Consumer Electronics, Industrial, IT And Telecommunication, Other End Use Industries

What Is The Regional Expertise Of The Advanced Packaging Technologies Market?

In terms of regional market distribution, the Asia-Pacific region was the largest contributor to the global advanced packaging technologies market in 2023. Other regions covered in the market report include Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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