Electronic Packaging Market Size (2024 - 2029)

Electronic Packaging Market Analysis

The Electronic Packaging Market size is estimated at USD 20.75 billion in 2024, and is expected to reach USD 58.71 billion by 2029, growing at a CAGR of 23.12% during the forecast period (2024-2029).

• Electronic packaging is more suited for mass production due to the rising demand for TVs, set-top boxes, MP3 players, and digital cameras. The rise of IoT and AI and the proliferation of complex electronics drive the high-end application segment in the consumer electronics and automotive industries. Due to these factors, more advanced electronic packaging technologies are being adopted to sustain demand.
• Electronics corporations are progressively incorporating sustainable practices into their packaging designs. They acknowledge that this can significantly influence consumer decisions. For instance, Samsung has pledged to use environmentally sustainable materials throughout its product range by 2025. This initiative includes substituting plastic packaging materials with biodegradable or recycled goods. Such endeavors not only cater to environmentally conscious buyers but also establish a brand as a responsible leader in an increasingly sensitive market to environmental concerns.
• Moreover, the digital revolution has impacted packaging design in several ways. Consumer electronics packaging includes QR codes, augmented reality (AR) interfaces, and NFC (near-field communication) tags. These technologies are becoming increasingly popular and are transforming the way consumers interact with packaging.
• These technologies enhance user engagement by merging physical packaging with digital experiences. For instance, a QR code on a box can direct consumers to a website with detailed product specifications, user reviews, or even virtual reality experiences of the product in action. As a result, these technologies are becoming an essential part of the consumer electronics packaging toolkit.
• The automotive sector accounts for a significant portion of the market studied, mainly due to its increasing adoption of 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 cars, demand is set to rise rapidly over the forecast period.
• According to IBEF, India's electric vehicle (EV) market is expected to reach INR 50,000 crores (USD 7.09 billion) by 2025. Furthermore, a CEEW Centre for Energy Finance study shows that India will have USD 206 billion in opportunities for electric vehicles by 2030. Such developments will further drive the market growth for electronic packaging.
• The pandemic severely affected the sales of electronic packaging solutions and consumer electronics packaging. The demand for consumer electronics packaging is driven by the mobile phone and computer industries. Even during the pandemic, the halt in production, scarcity of raw materials, and supply chain disruptions did not significantly impact the outputs of these industries.

Electronic Packaging Industry Segmentation

Electronics packaging involves designing and producing protective casings and enclosures for electronic devices. The packaging must be robust and reliable to withstand high vibration levels, extreme temperatures, and harsh environments. It must also protect against electromagnetic and radio frequency interference and is vital to maintaining the integrity of electronic components during operation.

The electronic packaging market is segmented by material (plastic, metal, glass, and other materials), end-user industry (consumer electronics, aerospace and defense, automotive, healthcare, and other end-user industries), and geography (North America (United States and Canada), Europe (United Kingdom, Germany, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia and New Zealand, and Rest of Asia-Pacific), Latin America (Brazil, Argentina and Rest of Latin America), and Middle East and Africa (United Arab Emirates, Saudi Arabia, and Rest of Middle East and Africa). The report offers market sizes and forecasts in terms of value (USD) for all the above segments.