New York, Feb. 22, 2023 (GLOBE NEWSWIRE) -- According to the latest analysis by Persistence Market Research, the global Fan-Out Wafer Level Packaging Market is expected to increase from a valuation of US$ 2.0 billion in 2023 to US$ 9.4 billion by 2033. Total sales of fan-out wafer level packaging are anticipated to rise at an incredible CAGR of 16.9% throughout the forecast period (2023 to 2033).
Based on type, demand remains particularly high for core fan-out packages globally and the trend is expected to continue during the assessment period. PMR estimates the core fan-out package segment to expand at 16.8% CAGR between 2022 and 2023.
Rising demand for advanced and cost-saving packaging technologies along with high penetration of digitalization and miniaturization are providing impetus to the global fan-out wafer level packaging industry.
As technology is developing rapidly, there is an intense need to make electronic devices more compact and portable. The fan-out wafer level packaging technology is the one in which numerous components are placed on the same substrate and the module is made smaller and energy efficient.
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In consumer electronic devices such as smartwatches and smartphones, this fan-out wafer level packaging technique is used. In internet of things, artificial intelligence, and in automotive industry- features such as advanced driving assistance systems are created using the fan-out wafer level packaging technique of electronics components.
Rising demand for a variety of electronic devices worldwide and growing trend of miniaturization are expected to propel fan-out wafer level packaging demand during the forecast period.
Similarly, growing awareness about the benefits of fan-out wafer level packaging over standard wafer level packaging will create lucrative growth opportunities for fan-out wafer level packaging manufacturers/companies.
Key Takeaways from Fan-Out Wafer Level Packaging Market Report:
The global fan-out wafer level packaging market is forecast to expand at 16.9% CAGR through 2033.
- Global sales of fan-out wafer level packaging are likely to generate revenues worth US$ 9.4 billion by 2033.
- Based on type, core-fan out package segment is anticipated to rise at 16.8% CAGR between 2023 and 2033.
- By application, analog and hybrid integrated circuits segment is projected to expand at 16.7% CAGR over the next ten years.
- The USA fan-out wafer level packaging market is forecast to reach a valuation of US$ 1.5 billion by 2033.
- Fan-out wafer level packaging demand across Japan is poised to surge at 17.2% CAGR between 2023 and 2033.
- China’s fan-out wafer level packaging market is expected to progress at 18.5% CAGR between 2023 and 2033, reaching a valuation of US$ 2.4 billion by 2033.
“With miniaturization penetrating its roots deep inside the thriving electronic industry, demand for fan-out wafer level packaging is set to rise at an incredible pace over the next ten years,” says a lead Persistence Market Research analyst.
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Who is Winning?
Renesas Electronics, Taiwan Semiconductor Manufacturing Company, ASE Technology Holding Co., Infineon Technologies, Amkor Technology, Nepes, NXP Semiconductors NV, JCET Group, Samsung Electro-Mechanics, Powertech Technology Inc, and TSMC Corporation are the key fan-out wafer level packaging manufacturers.
Recent Developments by Key Players:
- In October 2021, Cadence, the United States-based company released the first ECAD platform that will be used for 3D systems design. The cadence 3D-IC platform is expected to be used to build 3D stacked designs. This platform supports multiple packaging configurations such as fan-out wafer level packaging, wafer on-chip packaging, and 3D stacking.
- In August 2019, Deca Technologies, a leading provider of wafer level solutions announced that its fan-out wafer level packaging technology has been taken into use by Qualcomm for power management ICs in LG and Samsung phones.
Get More Valuable Insights into Fan-Out Wafer Level Packaging Market
Persistence Market Research, in its new offering, presents an unbiased analysis of the fan-out wafer level packaging market, presenting historical market data (2018 to 2022) and forecast statistics for the period of 2023 to 2033.
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The study reveals extensive growth in fan-out wafer level packaging based
- on type (high density fan-out package and core fan-out package),
- on application (CMOS image sensor, wireless connection, logic and memory integrated circuits, MEMS and sensors, analog and hybrid integrated circuits, and others)
- on across several regions.
About the Semiconductor and Electronics Division at Persistence Market Research
Persistence Market Research's highly experienced semiconductor and electronics team aids companies from all over the world with their specific business intelligence needs through professional research, actionable insights, and strategic recommendations. With a library of over a thousand research and 1 million+ data points, the team has spent over a decade analyzing the technology business across 50+ countries. From start to end, the company provides unrivaled research and consulting services. Please get in touch with us to see how we can help.
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