LONDON--(BUSINESS WIRE)--The global fan-out wafer level packaging (FOWLP) market is expected to post a CAGR of almost 16% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The growing trend of miniaturization in the semiconductor industry is compelling semiconductor packaging companies to explore new packaging technologies to reduce the overall size of the packaged ICs. This has increased the demand for FOWLP technology in high power applications that demand extreme miniaturization. The technology also allows fabrication and testing at the wafer level and helps reduce the cost of packaging and testing solutions. With the growing popularity of compact electronics, the demand for FOWLP will increase significantly during the forecast period.
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As per Technavio, the increasing adoption of semiconductor ICs in automobiles will have a positive impact on the market and contribute to its growth over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Fan-Out Wafer Level Packaging (FOWLP) Market: Increasing Adoption of Semiconductor ICs in Automobiles
Automobile manufacturers are gradually replacing mechanical and hydraulic systems with electronic or hybrid substitutes. Also, the rising interest in autonomous vehicles has increased the integration of electronic components in automobiles. In addition, the emergence of IoT and the growing demand for smart automotive solutions and rising stringency of regulations pertaining to safety have increased the adoption of multiple MEMS sensors, such as pressure sensors and gyroscopes in automobiles. With growing complexity and the rising need for higher performance, power, and cost reduction in automotive applications, the demand for high-performance semiconductor packaging solutions such as FOWLP will increase during the forecast period.
“Introduction of panel level packaging and the incorporation of more functionalities in smartphones will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Fan-Out Wafer Level Packaging (FOWLP) Market: Segmentation Analysis
This market report segments the global fan-out wafer level packaging (FOWLP) market by technology (high density FOWLP, and standard density FOWLP) and geography (Americas, APAC, and EMEA).
The APAC region led the market in 2018, followed by the Americas and EMEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the market. This is due to increasing government initiatives for the expansion of the semiconductor packaging industry in APAC countries.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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