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Global Compound Semiconductor Packaging Market to Grow at a CAGR of 11.3% During 2021-2026, Aided by the Rising Use of Compound Semiconductor Packaging in the Automotive Industry

According to a new report by EMR titled, ‘Global Compound Semiconductor Packaging Market Report and Forecast 2021-2026’, the market attained a value of about USD 12.8 billion in 2020. The industry is further expected to grow at a CAGR of 11.3% in the forecast period of 2021-2026 to reach a value of nearly USD 24.4 billion by 2026.

The Asia Pacific region is witnessing robust growth owing to the rapid industrialisation and digitalisation in the region. The advent of the Internet of things (IoT) and artificial intelligence (AI) in emerging economies like India and China are bolstering the market growth. Moreover, increasing investments and research and development (R&D) activities in the region are augmenting the growth of the compound semiconductor packaging industry. Furthermore, the market growth in the region can be attributed to the thriving automotive industry. The region is one of the biggest producers and consumers of the automotive sector, which, in turn, is surging the demand for compound semiconductor packaging. In addition, the extensive production of consumer electronics is positively impacting the market growth. The development of advanced and innovative products in technologically advanced countries like South Korea, Japan, and China are fuelling the market growth, hence contributing to the overall industry growth.

KLA Corporation (NASDAQ: KLAC), one of the leading players in the market, announced the launch of the Kronos 1190 wafer-level packaging inspection system, the ICOS F160XP, and the next generation of ICOS T3/T7 Series in September 2020. Through the systems, the company advances semiconductor device fabrication at the packaging stage by addressing the complexities of shrinking feature sizes, heterogeneous integration, and 3D structures. This would enable consumers to improve device performance without relying on scaling silicon design nodes. It also improves yield and quality assurance to advance technologies and cost roadmaps for consumers. The systems offer device manufacturers, foundries, and outsourced semiconductor and test providers to meet the demand for high-quality, diverse, and reliable products. The development of such systems is anticipated to aid the market growth.

Market Analysis by Packaging Platform, Application, End Use, and Region:

  • The market, on the basis of packaging platform, can be divided into flip chip, embedded die, fan-in WLP, and fan-out WLP.
  • Based on application, the industry can be divided into CS power electronics, CS RF/microwave, CS photonics, CS sensing, and CS quantum.
  • The end uses of compound semiconductor packaging include digital economy, industrial and energy & power, defence/security, transport, consumer electronics, healthcare, and space.
  • The regional markets for compound semiconductor packaging include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The rising popularity of the 5G technology and the advent of smart homes and buildings is aiding the market growth for compound semiconductor packaging.
  • The market is being driven by the growing deployment of compound semiconductors as a substitute for silicon semiconductors.
  • Rapid electrification and automation of the automotive sector are increasing the use of electrical components in automobiles, hence augmenting the market growth.
  • Increasing research and development (R&D) to integrate the latest technologies and develop cost-effective solutions is invigorating the growth of the compound semiconductor packaging industry.

Key Offerings of the Report:

  • The EMR report gives an overview of the global compound semiconductor packaging market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the packaging platforms, applications, end uses, and regions of compound semiconductor packaging.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global market for compound semiconductor packaging are Advanced Semiconductor Engineering, Inc., Amkor Technology, Inc., Deca Technologies, Jiangsu Changjiang Electronics Technology Co., Ltd, and KLA Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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