The Advanced Packaging Market size is estimated at USD 32.64 billion in 2024, and is expected to reach USD 45 billion by 2029, growing at a CAGR of 6.63% during the forecast period (2024-2029).
The Advanced Packaging Market had a semi-consolidated landscape with key players like Advanced Semiconductor Engineering Inc., Taiwan Semiconductor Manufacturing Company Limited, Amkor Technology, Intel Corporation, and JCET Group Co. Ltd. A significant shift was noted as numerous IC manufacturers transitioned to sub-advanced packaging, spurring market demand and heightening competition.
In July 2023, Amkor Technology extensively detailed its efforts and achievements in developing and validating wire bond and flip chip packaging for devices manufactured using TSMC's advanced low-k process technologies. Collaborating with multiple clients on low-k product qualification, Amkor aimed for a substantial volume ramp-up in low-k packages during the latter half of the year.
In November 2022, Intel Corporation commenced work on a new semiconductor assembly and testing facility in Penang. Comprising two buildings (Plants 4 and 5) totaling 982,000 square feet within the Bayan Lepas Free Industrial Zone, this facility, expected to be finalized by 2025, was anticipated to generate 2,700 job opportunities within the local market.
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