Global Semiconductor Chip Packaging Market Growth at CAGR of 31.1% 2017-2021

Estimated reading time: 1 minute

Research and Markets has announced the addition of the "Global Semiconductor Chip Packaging Market 2017-2021" report to their offering.

The global semiconductor chip packaging market to grow at a CAGR of 31.1% during the period 2017-2021.

Global Semiconductor Chip Packaging Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

The growth in the applications of semiconductor chips in industries such as the power, energy, medical, electric vehicles, automobiles, networking and telecommunications, consumer applications, military, aerospace and defense, motor control applications, and robotics is driving the market. Thus, the market for packaging equipment is expected to gain substantial ground during the forecast period, as packaged chips are used to improve functionality and performance of the devices in which they are applied.

According to the report, the demand for semiconductor chips and memory devices from consumer electronics is increasing due to the growing popularity of IoT-connected devices. Due to its cyclical nature, the semiconductor industry slowed down in 2016. The Chinese economy is also growing at a sluggish rate.