Electronic Packaging Market Technological Advancement, Top Key Players
Global Electronic Packaging Market is estimated to reach USD 2254.49 Million by 2025, registering a CAGR of 16.10% during the forecast period of 2019–2025.
Electronics packaging includes the packaging of the assortment of integrated circuits and other microcomponents in a single enclosure. Design and manufacturing activities for fabrication of components and devices in the consumer electronics industry has warranted its need for its protection. The global electronic packaging market report by Market Research Future (MRFR) comprises drivers, challenges, trends, and opportunities for the period of 2019 to 2025 (forecast period). The COVID-19 pandemic and its impact on the industry are highlighted in the report.
The global electronic packaging market is estimated to reach USD 2254.49 million by 2025, registering a CAGR of 16.10% during the forecast period. Huge demand for consumer electronics can be the primary driver of the market. The penetration of smart devices has induced the need for electronic packaging of integrated circuits and wafers of nano sizes to cater to a large consumer base. The advances in internet of things (IoT) and wireless devices can facilitate market growth over the forecast period.
Integration of product functions or features into a single package can influence the market to a great extent. This is exemplified by the constant updates on smartphones which enhance its features significantly. Furthermore, updates in network communication technologies such as 5G pave open the path for more opportunities. Rise in autonomous vehicles can be a significant trendsetter for the industry in the coming years.
But the change in materials and modeling of next-generation consumer electronic devices can pose a challenge to the market growth.
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The global electronic packaging market has been segmented by material, packaging technology, and end-user.
By material, the market has been segmented into glass, plastic, metal, and others.
By packaging technology, the market has been segmented into chip-scale packages (CSP), through-hole mounting, and surface surface-mount technology (SMD).
By end user, the market has been segmented into telecommunication, consumer electronics, aerospace & defense, automotive, and others.
By region, the market has been segmented into North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
According to MRFR analysis, APAC dominated the market in 2018 and is expected to continue during the forecast period due to the rising demand for consumer electronics across the region. Moreover, the presence of various electronic packaging companies such as Samsung Electronics Corporation Ltd and Taiwan Semiconductor Manufacturing Co. Ltd offering material and technology can further propel the growth of the market in the region. The growing population and increasing disposable income levels of citizens in the region can influence demand for electronic packaging. Additionally, a key market driver for the region is its dominance in the production of semiconductor devices globally. Major players in the semiconductor packaging market have manufacturing facilities in the region which accelerated the production and commoditization process. China led in the region followed by India. Furthermore, government-backed initiatives and investments for promoting the cutting-edge technology and developing semiconductor packaging solutions further help to drive the market.
North America can occupy a significant market share owing to the proliferation of new communication technologies and large defense expenditure of prominent nations such as the U.S. and Canada. The use of drones, guided missiles, and satellites contain integrate circuits which beckon the use of electronics packaging. The ability to withstand harsh environments can drive its demand in the region.
Major electronic packaging companies profiled are Sealed Air Corporation, DuPont de Nemours, Inc., Quality Foam Packaging Inc., UFP Technologies, Inc., Dordan Manufacturing Company, Kiva Container Corporation, STMicroelectronics NV, Primex Design & Fabrication, Plastiform Inc., The Box Co-Op, GY Packaging, Intel Corporation, AMETEK Inc., Samsung Electronics Corporation Ltd, AMS AG, Taiwan Semiconductor Manufacturing Co. Ltd., and Xilinx Inc.
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