Analysis on Impact of COVID19-Global Semiconductor Advanced Packaging Market 2020-2024 | Growing Demand for Compact Electronic Devices to Boost Market Growth | Technavio
The semiconductor advanced packaging market is expected to grow by USD 14.41 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced the latest market research report titled Global Semiconductor Advanced Packaging Market 2020-2024 (Graphic: Business Wire)
The demand for compact electronic devices has grown in almost every sector, be it communication device, automotive, industrial manufacturing, or healthcare equipment. This trend has forced semiconductor IC manufacturers to increase R&D expenditure in order to reduce the size and increase the performance of ICs. This has led to the emergence of MEMS and 3D IC chips. In addition, ICs have also become denser over the decades due to the increasing number of interconnects and transistors, requiring finer deposition and patterning. Keeping pace with the increased level of integration, engineers and designers are continuously developing new techniques to manage more circuitry and transistors within the same chip at the same cost, which has led to the development of new packaging technologies such as 3D packaging. Hence, the miniaturization of electronic devices will have a moderately high impact on semiconductor device manufacturers as they will have to revamp existing manufacturing, fabrication, test and assembly as well as packaging equipment to develop advanced production systems for MEMS, 3D ICs, and FinFET. Thus, the growing demand for compact electronic devices will drive market growth.
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As per Technavio, the integration of semiconductor components in vehicles will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Semiconductor Advanced Packaging Market: Integration of Semiconductor Components in Vehicles
The electrification of automobiles, as well as the rising demand for automation in vehicles, is driving the semiconductor market in this sector. Semiconductor ICs are being used for several purposes in automobiles, such as airbag control, GPS, anti-lock braking systems, displays, infotainment systems, power doors as well as windows, automated driving, and collision detection technology. Moreover, the need for small semiconductor devices with the right form factor will drive the demand for advanced packaging solutions from the automotive sector. The automotive market is expected to grow, driven by the rising yearly car production numbers, generating significant demand for semiconductor devices. This will, indirectly, trigger the demand for advanced packaging solutions during the forecast period.
“Factors such as the development of 3D chip packaging and FO WLP technology, and complex semiconductor IC designs will have a significant impact on the growth of the semiconductor advanced packaging market value during the forecast period,” says a senior analyst at Technavio.
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Semiconductor Advanced Packaging Market: Segmentation Analysis
This market research report segments the semiconductor advanced packaging market by packaging technology (Flip chip packaging, FI WLP, 2.5D/3D packaging, and FO WLP), device type (analog and mixed ICs, MEMS and sensors, Logic and memory devices, wireless connectivity devices, and CMOS image sensors), and geography (APAC, North America, Europe, South America, and MEA).
The APAC region led the semiconductor advanced packaging market in 2019, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as presence of several prominent semiconductor foundries and high demand from the consumer electronics market.
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Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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