PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1629260
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1629260
Panel Level Packaging Market size was valued at USD 2,551.5 Million in 2023, expanding at a CAGR of 38.60% from 2024 to 2032.
The Panel Level Packaging Market refers to the sector specialised in developing and manufacturing packaging solutions for semiconductor devices using large panels instead of individual wafers. This allows for increased efficiency and cost-effectiveness in the manufacturing process, as several chips can be processed simultaneously. Panel-level packaging is widely used in consumer electronics, automotive, and telecommunications applications because it supports advanced packaging technologies and meets the increasing demand for miniaturised and high-performance electronic components.
Panel Level Packaging Market- Market Dynamics
High growth in processing technologies for the semiconductor industry.
Memory chips, logic, analogue components, micro-processing units (MPU), discrete sensors, and other semiconductor components are in high demand as consumer and industrial electronics sales expand. Sophisticated electronics components in wearable electronics and IoT-based goods necessitate rapid processing of electronic device circuits, creating a potential market for extremely flexible ICs with improved thermal resistance and physical performance. To meet the need for upgraded ICs in high-end industrial applications such as automotive, electronics, aerospace, and telecommunications, level packing technology vendors are shifting away from traditional wafer-based packaging and toward novel packaging technologies such as FOWLP. According to the Semiconductor Industry Association (SIA), memory, logic, analogue, and MPU-related semiconductor products account for more than 80% of total semiconductor industry sales, creating a significant opportunity for market leaders to focus on the packaging process for these specific products.
Panel Level Packaging Market- Key Insights
Our research analyst estimates that the global market will develop at a CAGR of approximately 38.60% from 2024 to 2032.
Fan-out Panel Level Packaging is expected to account for a significant part of the market by 2023, according to Integration Type segmentation.
Consumer electronics are expected to have the highest CAGR during the projection period based on end-use segmentation.
On the basis of region, North America was the leading revenue generator in 2023
The Global Panel Level Packaging Market is segmented on the basis of Integration Type, Carrier Type, End User, and Region.
The market is divided into two categories based on Integration Type: Fan-in Panel Level Packaging and Fan-out Panel Level Packaging. Fan-out Panel Level Packaging is estimated to account for a sizable share of the market by 2023. Several packaging companies are introducing panel-level fan-out, which is a low-density technology that promises to reduce fan-out costs. The Fan-out Panel panel-level packaging segment is predicted to be critical for future applications in 5G, AI, Biotech, Advanced Driver Assistance Systems (ADAS), smart cities, and IoT-related products. Furthermore, the ability to produce improved packing and testing services, as well as maintain secure client interactions, are important factors driving market expansion in the projected future.
The market is divided into seven categories based on End User: Consumer Electronics, Healthcare, Industrial, Aerospace and Defense, IT and Telecommunication, Automotive, and Others. Consumer Electronics is predicted to have the highest CAGR during the projection period, as it is driving a new wave of advances in electronic packaging. According to the Consumer Technology Association, consumer electronics retail sales are predicted to increase by 4.3% this year to $461 billion. With rising consumer electronic sales year after year, the demand for panel-level packaging increases considerably.
Panel Level Packaging Market- Geographical Insights
Geographically, this market is distributed over North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. These regions are further split based on the nations bringing commerce. North America dominates the Panel Level Packaging Market for a variety of reasons. The region is home to significant semiconductor and technology companies that are driving the development of sophisticated packaging solutions. The presence of a strong supply chain and established manufacturing infrastructure contributes to market growth. North America also has a significant need for new electronic gadgets in the consumer electronics, automotive, and telecommunications industries. This demand mandates the use of efficient and cost-effective packaging options, such as panel-level packaging.
The Asia Pacific region is experiencing the highest growth rate for Panel-Level Packaging due to several key factors. There is a strong presence of semiconductor manufacturing in this region, with companies increasingly adopting advanced packaging solutions. The demand for consumer electronics is rapidly increasing in Asia Pacific, which creates a need for efficient packaging solutions. This sector is also being supported by government initiatives and investments, which promote innovation and the adoption of technology. The countries leading in electronics and semiconductor manufacturing globally are China, Japan, and South Korea, which are contributing significantly to this growth.
The Panel panel-level packaging Market has its competitive landscape with some major players and some new emerging companies focusing more on innovation and diversifying their product lines. Key semiconductor players like Deca Technologies, Lam Research Corporation, Amkor Technology Inc, Siliconware Precision Industries Co., Ltd, and many others are investing in panel-level packaging technology for efficient operations and low costs. Apart from the abovementioned factors, the focus is also on niche applications and innovative materials to have an edge in the marketplace. Collaborations and partnerships have increased because there are large-scale demands for high-performance, compact electronic devices. Such a dynamic environment results in competition and innovation.
In November 2022, Samsung Electronics announced the development of GDDR6W panel-level packaging with double the capacity and performance. It employs fan-out wafer-level packaging technology. This dynamic random-access memory offers outstanding performance, bandwidth, and capacity. The module size is tiny as a result of the fan-out wafer-level packing technology. The GDDR6W is capable of creating immersive metaverse experiences with powerful graphics.