- Moreover, many devices used in the healthcare sector depends on semiconductor manufacturing technology, which, in turn, is expected to impact the electronic packaging market.

- Furthermore, the global wi-fi chipset market is experiencing the transition to 5th Wi-Fi generation, the 802.11ac with MIMO. An increasing number of customers are likely to adopt the technology, due to an improvement in speed by up to 1.3 GHz, over a long distance, which is driving the demand.

- Also, the automotive sector accounts for a significant portion of the market studied, mainly, due to its increasing adoption in electric vehicles (EVs) and hybrid vehicles. As a large number of memory devices, processors, analog circuits, discrete power devices, and sensors are used in electric and hybrid vehicles, the demand is set to rise at a rapid rate, over the forecast period.

Key Market Trends

Aerospace and Defense Industry to Increasingly Adopt Electronic Packaging

- The defense budget of developed nations and many developing nations, such as the United States, France, the United Kingdom, Russia, India, and China, etc., have been increasing regularly. Many of these nations are also into the export of weapons. It results in the continued investment in the R&D in the aerospace and defense market.

- Moreover, several military and aerospace equipment, such as data processing units, data display systems, computers, and aircraft guidance-control assemblies are loaded with semiconductor devices.

- Naval warships, satellite communication channels on board, weapon control system, coastguard, etc., are the users of many sophisticated electronic products and require military-grade packaging of the electronic and semiconductor components. Humidity and harsh environment make it necessary for the requirement of high-quality product and facilitates the investment in R&D.

- Owing to these factors, electronic packaging is anticipated to witness a significant growth over the forecast period.

Asia-Pacific to Witness the Fastest Growth Rate Over the Forecast Period

- As China is considered as the electronic hub worldwide because of the mass manufacturing and production of electrical components and electronics products in order to meet the highest standards of quality,
performance, and delivery, this gives a significant growth potential to the electronic packaging market.

- Therefore, the companies in the region are also investing in installing machineries that enable productive electronic and semiconductor packaging.

- For instance, in 2019, KraussMaffei announced that it was going to debut a locally produced all-electric injection molding machine named “PX Agile” at Chinaplas. The new PX Agile is ideally used for standard applications like for technical components, electric and electronic devices and for the automotive, electronic packaging, and medical industries.

Competitive Landscape

The electronic packaging market is fragmented. Microsystems are used almost in every industry vertical, with some of the significant sections being consumer electronics, healthcare equipment, aerospace and defense, communications, etc. Semiconductor devices, such as ICs have become an integral part of a machine, as electronics is getting integrated into machines, which is in turn driving the growth of electronic packaging significantly.

Overall, the competitive rivalry among the existing competitors is high. Moving forward, acquisitions and collaboration of large companies with startups are expected, which are focused toward innovation.

- February 2018 - Ametek acquired FMH Aerospace and the acquired entity was a leader in the production of differentiated and engineered components for the aerospace, space, and defense markets. The acquired entity’s, more than 100 aerospace and defense projects, may provide the company, broad and lucrative defense and aerospace opportunities.

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