Portland, OR, Aug. 04, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global advanced packaging market generated $29.42 billion in 2019, and is estimated to reach $64.19 billion by 2027, registering a CAGR of 10.2% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.

Surge in demand for packaging of high performance chips used in various types of consumer electronics drives the growth of the global advanced packaging market. However, high price associated with advanced packaging is anticipated to restrain the growth of the market. Furthermore, growing adoption wafer level fan-out packaging is expected to create new growth opportunities for the market players during the forecast period.

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Covid-19 scenario:

  • The advanced packaging utilization has been affected during the Covid-19 pandemic due to restrictions on the mobility of goods and significant disruption of the semiconductor supply chain.
  • Several major smartphone manufacturers across the globe have halted their operation amid the lockdown. This has led to decrease in demand for 2.5D and 3D packaging that are used in chips of several mobile devices and smartphones.

The report offers a detailed segmentation of the global advanced packaging market based on type, end use, and region.

Based on type, the flip-chip ball grid array segment contributed to the largest share in 2019, accounting for nearly one-third of the total share, and is estimated to maintain its dominant position during the forecast period. However, fan-out WLP segment is estimated to portray the highest CAGR of 14.0% during the forecast period.

Based on end use, the consumer electronics segment accounted for the largest share in 2019, holding more than three-fifths of the total share, and is expected to maintain the largest share throughout the forecast period. However, the healthcare segment is estimated to witness the highest CAGR of 12.4% from 2020 to 2027.

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Based on region, Asia-Pacific contributed the highest share, accounting for nearly four-fifths of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, North America is expected to grow at the highest CAGR of 10.3% from 2020 to 2027.

Leading market players analyzed in the research include Intel Corporation, Amkor Technology, Taiwan Semiconductor Manufacturing Company, Qualcomm Technologies Inc., Microchip Technology, IBM, Texas Instruments Incorporated, Renesas Electronics Corporation, and Analog Devices.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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