Fan Out Packaging Market Size, Share, Industry Trends and Forecast to 2030

What is the Market Size & CAGR of Fan Out Packaging market in 2021?

The global fan out packaging market had a market size of USD 18.5 billion in 2021, with a Compound Annual Growth Rate (CAGR) of 8.7% from 2021 to 2028. The market is expected to reach a value of USD 34.6 billion by 2028. The fan out packaging market is witnessing significant growth due to the increasing demand for compact electronic devices and advancements in the semiconductor industry.

COVID-19 Impact on the Fan Out Packaging Market

The COVID-19 pandemic had a mixed impact on the fan out packaging market. While there was disruption in the supply chain and manufacturing processes initially, the market witnessed a surge in demand for electronic devices as remote working and online learning became the norm. This led to an increase in the adoption of fan out packaging technology to enhance the performance and efficiency of electronic devices.

Fan Out Packaging Dynamics

The fan out packaging market is driven by factors such as the growing demand for compact electronic devices, increasing focus on miniaturization of electronic components, and advancements in semiconductor packaging technologies. Additionally, the rising trend of Internet of Things (IoT) devices and wearable electronics is fueling the growth of the fan out packaging market.

Segments and Related Analysis

The fan out packaging market is segmented based on packaging technology, application, and end-use industry. By packaging technology, the market is categorized into 2.5D integration, 3D integration, and others. In terms of application, the market includes smartphones, wearables, automotive, and others. The end-use industries for fan out packaging technology are consumer electronics, automotive, healthcare, and others.

By Region Analysis

In region-wise analysis, Asia Pacific dominated the fan out packaging market in 2021, with China, Japan, and South Korea being the key contributors to the market growth. North America and Europe are also significant regions for the fan out packaging market, driven by the presence of major semiconductor manufacturers and technological advancements in the electronics industry.

Key Market Players and Competitive Landscape

Some of the key players in the fan out packaging market include Advanced Semiconductor Engineering, Inc. (ASE), Amkor Technology, Inc., Deca Technologies, Inc., Jiangsu Changjiang Electronics Technology Co., Ltd. (JCET), and Powertech Technology Inc. These companies are actively involved in product development, partnerships, and strategic collaborations to gain a competitive edge in the market.

Recent Happenings in the Fan Out Packaging Market

- In June 2021, ASE announced the launch of its new fan out packaging technology for 5G applications, aimed at improving the performance and efficiency of 5G devices. - In August 2021, Amkor Technology formed a strategic partnership with a leading semiconductor company to develop advanced fan out packaging solutions for next-generation electronic devices. - In November 2021, Deca Technologies introduced a new fan out packaging platform for automotive applications, focusing on enhancing the reliability and durability of packaging solutions for automotive components.