Pune, India, June 13, 2022 (GLOBE NEWSWIRE) --
As per a recent industry report put forward by Graphical Research, the North America advanced packaging market is forecast to register its name in the billion-dollar fraternity down the line of seven years, by exceeding a revenue of USD 5 billion by 2026.
One of the key drivers of the North America advanced packaging market is the availability of compact devices with superior functionality. With the high-end technologies including artificial intelligence (AI) and IoT commanding attention of multiple industrial verticals, the demand for advanced packaging is expected to escalate amongst IDMs and foundry suppliers. The presence of several leading market players including Broadcom, Skyworks, and Qualcomm in the region will positively influence the development of the market.
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The following top three trends are expected to drive the North America advanced packaging industry over the coming years:
Miniaturization of devices to promote adoption across multiple applications, guaranteeing growth
The North America advanced packaging industry is anticipated to exhibit 7% CAGR between 2020 and 2026, on account of the sweeping penetration of AI, 5G, IoT, and photonics across the region. In 2019, the North America market was valued at $3 million, and the current scenario foretells abundant growth opportunities, especially in the US and Canada.
Apart from the trending miniaturization of electronic devices, advanced packaging solutions offer multifarious benefits including smaller footprint, lower power consumption, and superior chip connectivity, which will also support the growth of North America market.
US to seize huge revenue as new production facilities spring up
Advanced packaging platforms offer solutions at lesser operational costs, coupled with a high radio frequency (RF) shielding featuring enhanced power dissipation. This has drawn in the requirement of advanced packaging solutions across Zigbee, Wi-fi, and BTLE applications. Due to the increasing number of foundry suppliers and manufacturers of semiconductor components addressing the spiraling demand for advanced packaging via establishment of new production centers across the US, the North America advanced packaging market will receive a considerable impetus.
To cite an instance, TSMC invested around $12 billion in a new advanced chip manufacturing unit in Arizona, where 5nm chip production technology will be deployed.
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Flip-chip segment to collect high revenue due to escalating demand from foundries and manufacturers
The flip-chip segment is likely to command largest share by 2026, surging at a promising CAGR of 5% through the forecast timeline. The segment accounted for more than 60% of the revenue in the market in 2019. Flip-chip technology not only provides high input/output density but also features a smaller footprint when compared to other alternatives. This has made it a popular option across consumer electronics.
Moreover, the superior electrical and thermal performance of flip-chip packaging will enable high volume manufacturing in foundries, triggering further growth of the North America advanced packaging market. As smartphones have become an indispensable component of our mundane life, the market for flip-chip packaging will exhibit high demand since these electronic devices utilize flip-chip technology.
The advancements in technology in the area of advanced packaging will garner considerable share across numerous countries in North America in the coming times, wherein the launch of 5G chipsets have been just one example.
About Graphical Research:
‘Graphical Research’ provides a large collection of market research and industry analysis reports covering healthcare, automotive, oil and gas, pharmaceutical, IT, agriculture, chemicals, and many other sectors, across diverse regions like North America, Europe, Asia Pacific, Latin America, and others. The comprehensive reports we provide are aligned with the key industry trends and insights in specific regional markets. The data we deliver helps our customers make better strategic decisions. Our goal is to offer competitive and quality customized market research reports.
