Global Wafer Level Packaging Market is valued at approximately USD 15.03 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 18.8% over the forecast period 2022-2029. Wafer-level packing (WLP) is a technology that involves depositing solder bumps on the chip pads to connect electronic components like transistors, resistors, capacitors, and others onto a single chip to build an integrated circuit. To simplify the production process, it enables integration of the wafer fab, test, packaging, and burn-in. The market is being driven by rise in electronic industry. One of the major factors supporting a positive outlook on market growth is the significant rise of the electronics industry globally. Furthermore, the demand for faster and more compact consumer products is fueling the market's expansion. The overall need for low-cost, high-performance packaging solutions has increased as a result, allowing for the devices' better mechanical protection, structural support, and longer battery life. Other growth-promoting factors include a number of technological advancements, such as the Internet of Things (IoT), that connect connected devices.

According to Statista, in 2015, the revenue of the global consumer electronics market was USD 879.33 billion and the number is anticipated to reach USD 1135.72 billion by 2026. Also, extensive research and development (R&D) activities, are anticipated to create lucrative growth opportunities for the market during forecast period. However, the high initial investment stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Wafer Level Packaging Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the presence of a large number of key market players in this region. Asia Pacific is expected to grow with the highest growth rate during the forecast period, owing to factors such as rising demand for consumer electronics and growing technological advancement that would create lucrative growth prospects for the global Wafer Level Packaging Market across the Asia Pacific region.

Major market players included in this report are:

Amkor Technology, Inc.

Fujitsu

Jiangsu Changjiang Electronics Technology Co. Ltd

Deca Technologies

Qualcomm Technologies, Inc.

Toshiba Corporation

Tokyo Electron Ltd.

Applied Materials, Inc.

ASML Holding N.V