Global Advanced IC Substrates Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The Advanced IC Substrates Market (hereafter referred to as the 'market studied') was valued at USD 7.73 billion in 2020, and it is expected to reach USD 12.24 billion by 2027, with a CAGR of 6.85% over the forecast period 2022 - 2027. Players are continuously advancing over the packaging technologies to answer their stringent requirements with a smaller footprint, higher performances, and lower power consumption. The demand for consumer electronics and mobile communication devices drives electronics manufacturers to deliver ever-more compact and portable products.
Key HighlightsThe increasing functionality of consumer electronic products and the increasing adoption of smart devices and smart wearables are some of the major factors expected to drive the adoption of advanced IC substrates during the forecast period.
The growth of the semiconductor packaging manufacturer in the region correlates with the end user's growth in the region as the fastest-growing market for smartphones, thereby witnessing a rising investment in renewable and automotive (EVs specifically), among various others.
The Advanced IC Substrates Market is moderately competitive and consists of a few major players. In terms of market share, some of the players such as ASE Group, TTM Technologies Inc., KYOCERA Corporation, Siliconware Precision Industries Co. Ltd. and IBIDEN Co. Ltd, and more are currently dominating the market. However, with advancements in IC packaging technology, new players are increasing their market presence, thereby expanding their business footprint across emerging economies.
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