The Advanced Semiconductor Packaging Market size is forecasted to reach US$65.18 billion by 2027, growing at a CAGR of 10.2% from 2022 to 2027. The growth of advanced semiconductor packaging technology has reduced the installation cost of integrated circuits while increasing output and efficiency. This factor is expected to drive market growth. In May 2021, Veeco Instruments Inc. announced that it had received an order for its AP300 Lithography System to boost the production of advanced packaging chips. However, the high cost associated with designing and manufacturing these systems hinders the Advanced Semiconductor Packaging Market growth. Moreover, new technological innovations are being introduced to cater to the growing technological advancements and rising demand for electronic devices. Adoption of these new technologies in the consumer electronics industry boosts system performance, connectivity and reliability. In August 2020, Samsung Electronics announced the availability of its silicon-proven 3D IC packaging technology - X-Cube which provides a significant boost in system performance.

North America generated approximately 27% of the global revenues in the Advanced Semiconductor Packaging industry in 2021. The development of several advanced packaging technologies and the increasing demand for IoT-connected devices are some of the factors that are expected to drive the growth of the Advanced Packaging Market in this region. In February 2021, Veeco Instruments Inc. announced plans to expand its manufacturing capabilities in San Jose, California to meet the growing demand for advanced laser annealing technology that benefits the world's leading semiconductor technology companies.

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Advanced Semiconductor Packaging Market Growth Drivers:

Improved systems performance and optimization of these advanced packaging technologies:

Advanced Semiconductor Packaging is offering integrated circuit packages to develop next-gen chip designs. The improved performance and optimization of these advanced semiconductor packaging systems, instead of traditional electronic packaging, have fostered the demand for these packaging systems across all industry verticals such as consumer electronics, automotive, healthcare and others. In March 2021, Yield Engineering Systems, Inc. announced that Taiwan-based OSAT Powertech Technology, Inc. had placed a large volume purchase order for their VertaCur XP. The systems would be used in high-volume manufacturing for flip-chip and wafer-level packaging to meet rising production demands. These factors would positively influence the Advanced Semiconductor Packaging Industry Outlook over the forecast period.

The Major Players in this Market

Major players in the Advanced Semiconductor Packaging Market include Intel, Amkor Technology, Deca Technologies, Siemens, Samsung, Advanced Semiconductor Engineering Inc, Taiwan Semiconductor Manufacturing Company and Microchip Technology. 

In July 2021, Singapore's Agency for Science, Technology and Research Institute of Microelectronics announced a collaboration with four significant industry players, including Asahi-Kasei, GLOBALFOUNDRIES, Qorvo and Toray, to form a System-in-Package (SiP) consortium. It is aimed to develop high-density SiP for heterogeneous integration of ICs that can meet the requirements of the advanced semiconductor packaging industry.

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