Fan-Out Wafer Level Packaging Market to Gain US$ 9.4 billion by 2033

PRESS RELEASE
Published February 28, 2024

Market Overview:

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.

In a nutshell, the Persistence Market Research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the report at -https://www.persistencemarketresearch.com/market-research/fan-out-wafer-level-packaging-market.asp

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.

Market Growth Factors:

  • Miniaturization and Integration: As electronic devices become smaller and more integrated, there is a growing demand for advanced packaging solutions like FOWLP, which allow for greater component density and miniaturization.
  • Improved Performance: FOWLP enables better electrical and thermal performance, as it reduces the length and impedance of interconnections between components on a semiconductor wafer, leading to enhanced device speed and efficiency.
  • Advanced Semiconductor Technologies: The adoption of advanced semiconductor technologies, such as 5G, artificial intelligence (AI), and the Internet of Things (IoT), has driven the need for packaging solutions that can handle high-frequency signals and complex circuitry, making FOWLP an attractive option.
  • Cost Efficiency: FOWLP offers cost advantages in terms of material usage and manufacturing processes compared to traditional packaging methods like flip-chip and wire bonding, making it an appealing choice for semiconductor manufacturers.
  • Heterogeneous Integration: FOWLP allows for heterogeneous integration, enabling the combination of various types of chips (e.g., logic, memory, sensors) on the same package, which is valuable for multi-function and multi-sensor applications.
  • Consumer Electronics: The growing demand for smaller, thinner, and more power-efficient consumer electronics devices, such as smartphones, wearables, and tablets, has driven the adoption of FOWLP.
  • Automotive Electronics: FOWLP is gaining traction in the automotive industry due to the increasing complexity of electronic systems in vehicles, including advanced driver-assistance systems (ADAS) and electric vehicles (EVs).
  • High-Density Interconnects: FOWLP supports high-density interconnects, enabling the integration of more components and features into a smaller footprint, which is essential for space-constrained applications.
  • Environmental Concerns: FOWLP is considered more environmentally friendly than some other packaging technologies due to reduced material waste and energy consumption during manufacturing.
  • Market Competition: Competition among semiconductor packaging companies has driven innovation in FOWLP technology, leading to improved capabilities and cost-effectiveness.
  • Supply Chain Resilience: The COVID-19 pandemic highlighted the importance of resilient supply chains. FOWLP, with its potential for automation and reduced supply chain complexity, has gained favor as a packaging solution.
  • Advancements in Manufacturing: Innovations in manufacturing processes, such as panel-level packaging (PLP), have made FOWLP more scalable and cost-efficient.
  • Investments and Research: Ongoing investments in research and development have led to continuous improvements in FOWLP technology and its applications.
  • Market Expansion: FOWLP technology has expanded beyond traditional semiconductor applications to include areas like photonics, MEMS (Micro-Electro-Mechanical Systems), and 3D integration.
  • Regulatory and Quality Standards: Adherence to industry standards and regulatory requirements has enhanced the credibility and trustworthiness of FOWLP technology.

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.

Market Segmentation:

By Type:

  • High Density Fan-Out Package
  • Core Fan-Out Package

By Application:

  • CMOS Image Sensor
  • Wireless Connection
  • Logic and Memory Integrated Circuits
  • Mems and Sensors
  • Analog and Hybrid Integrated Circuits
  • Others

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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