Global Advanced Chip Packaging Market Analysis 2024 – Estimated Market Size And Key Drivers

The Advanced Chip Packaging Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Advanced Chip Packaging Global Market Report 2024, The advanced chip packaging market size has grown rapidly in recent years. It will grow from $10.51 billion in 2023 to $12.41 billion in 2024 at a compound annual growth rate (CAGR) of 18.1%. The growth in the historic period can be attributed to the demand for smaller, more powerful consumer electronics, the rise of mobile devices and smartphones, the growth of high-speed data networks, increasing automotive electronics, and the evolution of computing needs.

The advanced chip packaging market size is expected to see rapid growth in the next few years. It will grow to $24.29 billion in 2028 at a compound annual growth rate (CAGR) of 18.3%. The growth in the forecast period can be attributed to the proliferation of 5G technology, the growth of the Internet of Things (IoT) devices, the rise of artificial intelligence (AI) and machine learning, the expansion of wearable technology. Major trends in the forecast period include the growing adoption of 3D packaging technologies, advanced thermal management, advancements in high-density interconnect technologies, expansion of fan-out wafer-level packaging technologies, and development of flexible and stretchable packaging technologies.

The growing demand for consumer electronic devices is expected to propel the growth of the advanced chip packaging market going forward. A consumer electronic device is electronic equipment intended for everyday use, typically in private homes. With the expansion of the internet and wireless networks and the demand for devices such as smartphones, tablets, and laptops, there is a growing demand for consumer electronics. Advanced chip packaging technologies enable the integrating multiple functions into compact designs, crucial for high-performance consumer electronics. These packaging technologies enhance processing power, efficiency, and heat dissipation, supporting the development of feature-rich, compact devices. For instance, in May 2023, according to a report published by Japan Electronics and Information Technology Industries Association, a Japan-based trade association for the electronics and IT industries, consumer electronics production reached $209.50 million in May 2023, marking a 127% increase from the previous year. Therefore, the growing demand for consumer electronic devices is driving the growth of the advanced chip packaging market.

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The advanced chip packaging market covered in this report is segmented –

1) By Packaging: Ball Grid Array (BGA), Quad Flat Package (QFP), Chip Scale Package (CSP), Wafer-Level Chip Scale Package (WLCSP)
2) By Technology: Five-Dimensional (5D) Packaging, Three-Dimensional (3D) Packaging, Fan-Out Wafer-Level Packaging, Flip-Chip Packaging, System-In-Package Solutions
3) By End-Use Industry: Electronics, Automotive, Telecommunications, Industrial, Healthcare, Aerospace And Defense

Major companies operating in the advanced chip packaging market are developing advanced chip-scale package technology to enhance semiconductor device performance, miniaturization, and reliability. Chip scale package (CSP) technology is an integrated circuit (IC) packaging technology where the package is almost the same size as the semiconductor chip itself. For instance, in September 2022, Bridgelux Inc., a US-based LED innovative company, launched Chip scale package (CSP) LEDs ranging from 1800K to 6500K, CRI 70 to CRI 95, and RGB color to full spectrum. It uses flip-chip technology with a phosphor coating, eliminating the need for bond wires and plastic molds. This leads to improved heat management and increased luminous flux production. The CSP2727 model delivers an industry-leading efficacy of 209 lm/W at 350 mA and 190 lm/W at 700 mA, making it ideal for commercial lighting applications. The CSP LEDs provide smooth and flexible board assembly, allowing for the construction of customer-specific Chip-on-Board (COB) modules for commercial, entertainment, industrial, and outdoor lighting.

The advanced chip packaging market report table of contents includes:

1. Executive Summary
2. Advanced Chip Packaging Market Characteristics
3. Advanced Chip Packaging Market Trends And Strategies
4. Advanced Chip Packaging Market – Macro Economic Scenario
5. Global Advanced Chip Packaging Market Size and Growth
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32. Global Advanced Chip Packaging Market Competitive Benchmarking
33. Global Advanced Chip Packaging Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Advanced Chip Packaging Market
35. Advanced Chip Packaging Market Future Outlook and Potential Analysis
36. Appendix