Semiconductor packaging market to reach $94.04 billion by 2032 with 10% CAGR growth
From GlobeNewswire: 2024-12-10 08:00:00
The Semiconductor Packaging Market was valued at USD 40.05 Billion in 2023, projected to reach USD 94.04 Billion by 2032 with a 10.0% CAGR. Semiconductor packaging is crucial for advanced electronics, with the U.S. investing up to USD 52 billion under the CHIPS for America initiative to enhance domestic semiconductor production and innovation.
In 2023, the Traditional Packaging segment led the semiconductor packaging market at 50% share, favored for its cost-efficiency and reliability. Advanced Packaging is expected to grow at a 10.8% CAGR, driven by the demand for innovative solutions supporting device miniaturization. Companies like Intel and Texas Instruments are enhancing technology for improved performance.
The consumer electronics segment is set to capture 35% of the semiconductor packaging market share in 2023, driven by the extensive use of semiconductors in various devices. The aerospace and defense segment is expected to see robust growth, with NXP Semiconductors leading in technological innovation for aerospace communications.
Asia Pacific dominated the semiconductor packaging market in 2023 with a 51% market share, while North America emerged as the fastest-growing region. The United States is advancing rapidly with cutting-edge semiconductor packaging innovations, aligning with the market demand for sophisticated solutions.
Recent developments include Lightmatter and Amkor Technology partnering to create a 3D-packaged chip complex, addressing AI workload demands, and Samsung Electronics securing a 2-nanometer AI chip foundry and packaging order from Japan’s Preferred Networks. Samsung has struck a deal to manufacture AI accelerators using GAA technology, expanding South Korea’s foundry ecosystem. Texas Instruments unveiled new power modules with MagPack™ tech, doubling power density while reducing module size by up to 50%. These advancements benefit industrial, enterprise, and communications applications. Further market insights can be found at SNS Insider.
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