PORTLAND, Ore., Nov. 19, 2020
Technological superiority of flip chips over wire bonding, thriving portable electronic market, and rising popularity of Internet of Things (IoT) drive the growth of the global flip chip market.
PORTLAND, Ore., Nov. 19, 2020 /PRNewswire/ -- Allied Market Research recently published a report, "Flip Chip Market by Packaging Technology (3D IC, 2.5D IC, and 2D IC), Bumping Technology (Solder Bumping, Gold Bumping, and Others), and Industry (Electronics, Industrial, Automotive & Transport, Healthcare, IT & Telecommunication, Aerospace & Defense, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027". According to the report, the global flip chip industry was pegged at $24.76 billion in 2019, and is projected to hit $39.67 billion by 2027, growing at a CAGR of 6.1% from 2020 to 2027.
Major determinants of the market growth
Technological superiority of flip chips over wire bonding, thriving portable electronic market, and rising popularity of Internet of Things (IoT) drive the growth of the global flip chip market. Moreover, usage in graphic cards and processors used in real world solder bumping supplemented the market growth. However, higher cost and less customization options available in comparison to wire bonding hamper the market growth. On the contrary, impending need of high frequency in electronic gadget creates new opportunities for the market players in the coming years.
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Covid-19 scenario: The widespread of Covid-19 has adversely affect the global flip chip industry.
The copper pillar segment held largest share
By bumping technology, the copper pillar segment held the largest share in 2019, accounting for more than half of the global flip chip market, owing to its lower cost, decent performance, easy availability, and enhanced durability as compared to other bumping technologies. However, the gold bumping segment is expected to register the highest CAGR of 7.5% from 2020 to 2027, due to its use in mobile phones and other RF applications.
The IT and telecommunication segment to portray the highest CAGR through 2027
By industry, the IT & telecommunication segment is expected to manifest the highest CAGR of 9.0% during the forecast period. This is owing to companies operating in IT and telecommunication industry have incorporated flip chip as the packaging technology in their products to increase their efficiency and reliability of their products. However, the electronics segment held the lion's share in 2019, contributing to more than two-fifths of the global flip chip market, due to increased use of flip clips in smartphones, digital camera & camcorders, laptops & tablets, wearable electronics, and household electronics.
Asia-Pacific, followed by North America, dominated the market
By region, the global flip chip market across Asia-Pacific held the largest share in 2019, accounting for more than half of the market. Moreover, the region is expected to manifest the highest CAGR of 7.0% during the forecast period, due to the vast presence of fabrication facilities and extensive research and development by the key players such as TSMC ltd., Fujitsu amongst others. The market across North America held the second-largest share in 2019.
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Major market players
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