Microelectronics packaging market is gaining importance as it reduces wastage and enhances safety and security; microelectronics packaging market is expected to register healthy CAGR during the forecast period
Albany, NY -- (SBWIRE) -- 11/14/2016 -- The global market for microelectronics packaging is poised for significant growth, states Transparency Market Research. In a report titled "Microelectronics Packaging Market - Global Industry analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024", TMR finds that the growing demand for microelectronics packaging emerges from the rising usage of high-performance microchips and their increasing application in several industries.
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The market has been gaining momentum in recent years thanks to the various benefits of microelectronics packaging, which include convenience, enhanced security and safety, reduced wastage, and product differentiation. Recent technological advancements in the field of printed electronics and increasing research and development activities have also supported the growth of the microelectronics packaging market. On the flip side, the high cost of this form of packaging poses a major threat to the growth of the market.
The global market for microelectronics packaging can be segmented on the basis of the number of package combination circuit chips into single chip packaging and multi-chip packaging. Based on seal material, the market can be bifurcated into ceramic and high polymer material (plastic). By device and circuit board interconnect, the microelectronics packaging market can be divided into surface mount (SMT) and pin insertion (PTH). The report offers a thorough assessment of each of the segments and identifies the leading as well as most promising categories through 2024.
Based on geography, the report on the microelectronics packaging market studies five key regions: Latin America, North America, Asia Pacific, Europe, and the Middle East and Africa. North America takes a clear lead in this market owing to the thriving electronics industry in the region and the large-scale availability and adoption of advanced packaging technologies. Asia Pacific and Europe also form major markets for microelectronics packaging, with APAC presenting immense scope for growth. China and India are projected to emerge as key contributors in this regional market over the course of the forecast period. These domestic markets have been undergoing impressive growth in the electronics sector and hence make for profitable targets among providers of packaging solutions.
A key feature of the report on the microelectronics market is its evaluation of the vendor landscape. The prominent companies operating at a global and regional level have been identified and profiled based on criteria such as company overview, financial standing, product portfolio, business strategies, and recent developments. The Porter's Five Forces analysis model helps ascertain the bargaining power of suppliers and buyers, the threat of new entrants and substitutes, and the degree of rivalry among the players. This gives readers a better understanding of the current scenario and how each company is likely to fare in the coming years. AMETEK EC and Teledyne Microelectronics are some of the key companies functional in the global microelectronics packaging market.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.