Global Fan-out Wafer Level Packaging Market 2019-2023 | Increasing Demand for Compactly Designed Electronics Promotes Growth | Technavio
LONDON--(BUSINESS WIRE)--Dec 4, 2018--The global fan-out wafer level packaging (FOWLP) market research report by predicts the market to post a CAGR of close to 16% during the period 2019-2023.
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Technavio has released a new market research report on the global fan-out wafer level packaging market for the period 2019-2023. (Graphic: Business Wire)
A key driver for the global fan-out wafer level packaging market is the increasing demand for compactly designed electronics. The demand for miniaturized semiconductor components is being driven by the integration of HMI technologies, developments in wireless communication technologies, and the development of telecommunication standards. This is because the miniaturized semiconductor components can be integrated with mobile devices such as smartphones, healthcare equipment, and automobiles.
This research report also provides an analysis of the most important trends expected to impact the market outlook during the period 2019-2023. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the increasing adoption of semiconductor ICs in automobiles as one of the key trends in the global fan-out wafer level packaging market:
Global fan-out wafer level packaging market: Increasing adoption of semiconductor ICs in automobiles
The gradual phasing out of mechanical and hydraulic systems in the automobiles industry and their replacement by electronic or hybrid substitutes is one of the major reasons for the growth of the semiconductor ICs market. The autonomous cars require several electronic systems such as forward collision warning, lane departure warning, front view camera system, smart cameras, and autonomous braking system. This has resulted in high demand for automotive ICs such as MCUs, MPUs, memory devices, power management ICs, and radar and RF modules.
“The rapid emergence of IoT and the increasing need for smart automotive solutions have led to the increasing adoption of multiple MEMS sensors such as pressure sensors and gyroscope sensors in automobiles. FOWLP provides the best packaging solution for IC manufactures as it provides high material density, a greater number of I/O points, and more reliability,” says a senior research analyst at Technavio.
Global fan-out wafer level packaging market: Segmentation analysis
This fan-out wafer level packaging market analysis report segments the market by technology (high-density FOWLP and standard density FOWLP) and geography (the Americas, APAC, and EMEA).
The high-density FOWLP segment held the largest fan-out wafer level packaging market share in 2018, accounting for nearly 67% of the market. This technology segment is expected to dominate the global market throughout the forecast period.
The APAC region led the market in 2018 with approximately 76% of the market share, followed by the Americas and EMEA respectively. The APAC region is expected to dominate the market throughout the period 2019-2023.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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SOURCE: Technavio Research
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