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Fan-Out Wafer Level Packaging Market size is set to grow by USD 5.52 billion from 2024-2028, increased demand for compactly designed electronics to boost the market growth, Technavio

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NEW YORK, June 19, 2024 /PRNewswire/ — The global fan-out wafer level packaging market  size is estimated to grow by USD 5.52 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 23.77%  during the forecast period.  Increased demand for compactly designed electronics is driving market growth, with a trend towards increasing adoption of semiconductor ics in automobiles. However, increased production costs because of warpage  poses a challenge. Key market players include Amkor Technology Inc., ASE Technology Holding Co. Ltd., Deca Technologies Inc., Infineon Technologies AG, Jiangsu Changdian Technology Co. Ltd., nepes Corp., Nordson Corp., NXP Semiconductors NV, Onto Innovation Inc., Panasonic Holdings Corp., Powertech Technology Inc., Renesas Electronics Corp., Singapore Semiconductor Industry Association, SUSS MICROTEC SE, Taiwan Semiconductor Manufacturing Co. Ltd., Unisem M Berhad, UTAC Holdings Ltd., Winbond Electronics Corp., Yield Engineering Systems, and Yole Developpement SA.

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Technology (High density and Standard density), Type (200 mm, 300 mm, and Panel), and Geography (APAC, North America, Europe, South America, and Middle East and Africa)

Region Covered

APAC, North America, Europe, South America, and Middle East and Africa

Key companies profiled

Amkor Technology Inc., ASE Technology Holding Co. Ltd., Deca Technologies Inc., Infineon Technologies AG, Jiangsu Changdian Technology Co. Ltd., nepes Corp., Nordson Corp., NXP Semiconductors NV, Onto Innovation Inc., Panasonic Holdings Corp., Powertech Technology Inc., Renesas Electronics Corp., Singapore Semiconductor Industry Association, SUSS MICROTEC SE, Taiwan Semiconductor Manufacturing Co. Ltd., Unisem M Berhad, UTAC Holdings Ltd., Winbond Electronics Corp., Yield Engineering Systems, and Yole Developpement SA

Key Market Trends Fueling Growth

The automotive industry’s shift from mechanical and hydraulic systems to electronic or hybrid alternatives, driven by the rise of autonomous cars, is fueling the demand for semiconductor ICs and sensors. This trend is leading to the increased adoption of FOWLP (Fan-Out Wafer Level Packaging) technology in the automotive sector. Major car manufacturers like Audi, General Motors, and Tesla are investing in ICs and sensors for advanced driver assistance systems (ADAS) and autonomous vehicles. FOWLP offers high material density, greater I/O points, and improved reliability, making it the preferred packaging solution for automotive ICs. Safety regulations and the need for smart automotive solutions are also driving the demand for MEMS sensors, further boosting the FOWLP market. 

The Fan-Out Wafer Level Packaging (FO-WLP) market is experiencing significant growth, driven by the increasing demand for smaller, more efficient semiconductor devices. Memory and logic semiconductors are the primary applications for FO-WLP technology. The use of FO-WLP in power management and sensor applications is also on the rise. The trend towards higher integration and miniaturization in electronics is fueling the adoption of FO-WLP. The technology offers several advantages, including reduced power consumption, improved reliability, and increased design flexibility. The future looks bright for FO-WLP, with continued innovation and advancements expected in this dynamic market. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The FOWLP market faces challenges due to warpage issues, which increase production costs. Warpage is a distortion in the molded part’s surface, leading to wafer deformation and wastage. Differential shrinkage, thermal expansion mismatches, and post-processing steps are common causes. These issues result in higher manufacturing and packaging costs for ICs, potentially hindering market growth.The Fan-Out Wafer Level Packaging (FO-WLP) market faces several challenges. One challenge is the complexity of the technology, which requires precise chip placement and interconnect design. Another challenge is the high cost of FO-WLP compared to traditional packaging methods. Additionally, the need for high yield and reliability in FO-WLP is crucial for mass production. Furthermore, the integration of different materials and processes in FO-WLP can be difficult, requiring advanced manufacturing techniques. Lastly, the increasing demand for smaller form factors and higher performance in electronic devices puts pressure on the FO-WLP industry to continuously innovate and improve.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This fan-out wafer level packaging market report extensively covers market segmentation by

Technology 1.1 High density1.2 Standard densityType 2.1 200 mm2.2 300 mm2.3 PanelGeography 3.1 APAC3.2 North America3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 High density-  The Fan-Out Wafer Level Packaging (FO-WLP) market is experiencing significant growth due to the increasing demand for miniaturization and higher integration in semiconductor devices. FO-WLP technology enables the direct connection of dies to the substrate, reducing the number of interconnects and improving overall performance. Companies such as Samsung, Micron, and SK Hynix are leading the market with their innovative FO-WLP solutions. This technology is particularly beneficial for memory and logic applications, leading to its widespread adoption in the consumer electronics and automotive industries.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022)  – Download a Sample Report

Research Analysis

The Fan-Out Wafer Level Packaging (FO-WLP) market is experiencing significant growth in various sectors, including consumer electronics and advanced electronics. FO-WLP is a semiconductor-based technology that enables footprint-sensitive devices, such as smartphones, smartwatches, and laptops, to incorporate high-performing ICs with minimal increase in size and weight. This technology utilizes advanced packaging methods, such as PoP (Package-on-Package) and memory-on-logic solutions, to enhance the functionality of consumer electronics. FO-WLP also addresses thermal issues by employing wafer-level packaging and wafer-level processes. The IC packaging technology reduces manufacturing costs and enables heterogeneous integration and panel level technology in ultra-thin portable devices. FO-WLP is revolutionizing the consumer electronics sector by enabling the production of high-performing, compact devices.

Market Research Overview

The Fan-Out Wafer Level Packaging (FO-WLP) market refers to the technology and process of integrating various semiconductor devices onto a single wafer using wafer-level packaging techniques. This packaging method offers several advantages such as reduced interconnect resistance, improved reliability, and enhanced system performance. The FO-WLP market caters to various applications including memory, logic, and sensor technologies. The technology is gaining popularity due to the increasing demand for miniaturization, higher integration density, and the need for advanced packaging solutions in the electronics industry. The market is expected to grow significantly in the coming years due to the increasing adoption of FO-WLP in advanced semiconductor applications. The process involves various techniques such as redistribution layer (RDL) formation, wafer bonding, and final packaging. The market is driven by factors such as the increasing demand for high-performance and power-efficient semiconductor devices, the miniaturization trend in the electronics industry, and the growing adoption of advanced packaging solutions.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TechnologyHigh DensityStandard DensityType200 Mm300 MmPanelGeographyAPACNorth AmericaEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Typeform Delivers New Solutions to Empower B2C Businesses to Better Engage Customers

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Brands can now use video, data enrichment, and AI-powered capabilities to create interactive, hyper-personalized experiences and uncover deeper insights

SAN FRANCISCO, Nov. 14, 2024 /PRNewswire/ — Typeform, the intuitive form builder and conversational data collection platform, today announced new features that provide business-to-consumer (B2C) businesses with the context, clarity, and convenience needed to better engage and understand their customers. Now businesses can further enhance the respondent experience, all while gathering richer, actionable data. 

Today, 70% of consumer decisions are based on emotion, including brand preference.¹ Buyers expect brands to tailor experiences to their personal preferences more than ever, but at the same time, they’re also becoming more cautious about sharing personal information. Typeform’s latest features help brands collect data directly from customers through interactive, personalized experiences they trust, then automatically enhance it with third-party insights to deepen their understanding. This empowers companies to deliver more targeted, data-driven marketing.

“Businesses can’t thrive on surface-level insights,” said Aleks Bass, Chief Product Officer, Typeform. “Our latest innovations give you the ability to dig deeper into truly knowing your customers by providing dynamic data collection experiences that encourage quality responses. Whether boosting conversions with a personalized product recommendation quiz or gathering feedback through video surveys, the common denominator is that your customers enjoy the experience.”

The offerings were unveiled at Typeforum 2024, Typeform’s first-ever virtual product spotlight event, designed to showcase the latest innovations from the company. Newly released features include: 

Enhanced Video Capabilities: Typeform now allows customers to respond with video, providing businesses deeper insights through voice and expressions, not just text. This builds on Typeform’s existing feature that enables creators to record, edit, and embed personalized videos into forms, boosting engagement and conversions. Typeform research found that 65% of marketers believe video is an effective tool for engaging and interacting with customers in ways that feel more human and create connection and loyalty.²Clarify with AI: Typeform’s Clarify with AI acts as a virtual interviewer, prompting follow-up questions based on customer responses. When a customer is asked about their experience and answers vaguely, like “good,” the AI encourages more detailed feedback, asking, “Good, how? What stood out?” For customers, it feels like a personalized conversation. For brands, it delivers more insights. Automated B2C Data Enrichment: Earlier this year, Typeform introduced automated B2B data enrichment, making it easier than ever to understand customers at a deeper level without needing to ask additional questions. Now, consumer-level enrichment is available in the Typeform platform. With just a personal email address, companies can pull in key data points from trusted third-party sources, providing a more complete picture of who’s on the other side of the screen.AI-powered Qualitative Analysis: With this feature, businesses can instantly analyze large volumes of text and video responses to surface key themes and insights, saving hours of manual work. Data Quality Tools: Invisible reCAPTCHA ensures data integrity by blocking bots and automated submissions, allowing only genuine responses to be collected. This safeguard enhances data reliability, helping teams make accurate, data-driven decisions.Klaviyo Integration: Typeform will soon be launching a new integration with Klaviyo, designed for B2C and direct-to-consumer (DTC) marketers. It will ensure that every insight gathered flows seamlessly into Klaviyo. Manual data transfers are eliminated as segments automatically update with Typeform data, enabling hyper-targeted campaigns customized to each customer’s unique profile. This integration combines Typeform’s interactive data collection with Klaviyo’s automation, facilitating more natural, personalized customer connections while driving business growth.

“We built a powerful product recommendation quiz not just to help our customers, but to generate invaluable data that allows us to better segment and engage them with relevant marketing,” said Addison Wennar, Digital Communications Manager, OGEE. “With the holiday shopping season approaching, these insights will be key. Typeform already delivers the highest response rates for us, and I’m excited to see how the new features will amplify that impact.”

The features are available today in Typeform for Growth plans. Watch the Typeforum 2024 recordings and learn how to use Typeform to better understand and engage customers here

About Typeform
Typeform is a distinctly intuitive form builder that helps over 150,000 customers collect and validate the data they need to grow their businesses. Designed with striking visuals, a conversational flow, and powerful data capabilities, Typeform empowers brands to give and get more with each form. Typeform drives more than 500 million responses each year and integrates with essential tools including Zapier, HubSpot, and Slack. For more information, visit www.typeform.com.

1         Pendell, R. (2024, October 15). Customer brand preference and decisions: Gallup’s 70/30 principle. Gallup.com. https://www.gallup.com/workplace/398954/customer-brand-preference-decisions-gallup-principle.aspx#:~:text=70%25%20of%20decisions%20are%20based,Making%20Process:%20Rational%20or%20Emotional?

2          Data from a survey of 105 Typeform customers conducted on September 30, 2024.

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SOURCE Typeform S.L.

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Electronic Drives and Controls Celebrates Impressive Growth and Strong Demand for Industrial Automation Solutions

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EDC has announced 39% revenue growth over the past year and a strengthened presence in the metals converting and composites industries. The company has also maintained key certifications, including CSIA, UL508A, Rockwell Automation, Siemens, and Ignition.

PARSIPPANY, N.J., Nov. 14, 2024 /PRNewswire-PRWeb/ — Electronic Drives and Controls, Inc. (EDC), a leading control system integrator and field service company for industrial automation and drive technology, today announced that the company has experienced a year of growth and success, achieving a 39% increase in revenue year-over-year. To meet the growing demand for automation and drive solutions, EDC has expanded its team, hiring Ricky Arcky as human resources manager and Tyler Schaberick as systems engineer. EDC attributes this growth to maintaining industry certifications, digital marketing efforts, a dedicated team, and strong, long-term partnerships.

“We are proud of the growth we’ve achieved this year, which is a testament to the hard work of our team and our commitment to delivering exceptional service to our clients.”

“We are proud of the growth we’ve achieved this year, which is a testament to the hard work of our team and our commitment to delivering exceptional service to our clients,” said Chuck Dillard, Vice President of EDC. “Our recent hires and increased project load reflect our strategy to grow both wider and deeper with our existing clients, as well as entering new industries.”

“We’ve put in years of preparation and invested heavily in digital marketing to get the word out about our services, knowing that growth was inevitable,” Dillard added. “Our team has worked tirelessly and the results speak for themselves: clients continue to return to us because of our technical expertise and the strong results we deliver.”

EDC’s expertise in coating & laminating, wire and cable, PLC programming and upgrades, as well as drive service, has allowed the company to strengthen its presence in the metals converting industry, securing new and expanded projects across multiple client plants. EDC has also successfully completed upgrades for a new client in the composites industry, widening the portfolio of industries it caters to.

In addition to recent growth, EDC remains committed to maintaining the highest industry standards through its CSIA certification, which ensures adherence to best practices in control system integration. Several certifications, including UL508A recertification and certifications from Rockwell Automation, Siemens, and Ignition, further emphasize EDC’s dedication to safety, technical proficiency, and continuous improvement.

About Electronic Drives and Controls, Inc.
Founded in 1968, Electronic Drives and Controls, Inc. (EDC) is a CSIA Certified control system integrator with deep domain expertise in the coating and laminating, and converting industries. The company’s large field service team specializes in AC and DC drives, PLCs and factory automation. Family owned and operated for more than 50 years, EDC’s team of engineers and technicians has a vast experience integrating new control systems and breathing life into older equipment. EDC has the engineering capability to design, build, start-up and service projects from the sophisticated to the simple and the service support team on call 24/7/365 to keep it all running at peak efficiency from day one and for years to come. In addition to the company’s certification as a Siemens Solution Partner and a Rockwell Automation Recognized System Integrator, EDC is a factory authorized/factory trained service center for over 40 drive brands. For more information, visit the company’s website, LinkedIn, Twitter, Facebook, and YouTube.

Media Contact

Georgia Whalen, Rivergate Marketing, (978) 697-2664, Gwhalen@rivergatemarketing.com, www.electronicdrives.com/home/

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SOURCE Electronic Drives and Controls, Inc. (EDC)

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Allstate Financial Services Selects Covr to Provide Life Insurance, Long-Term Care, and Disability Insurance Solutions

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Covr’s Digitally Enabled Insurance Platform Will Simplify the Buying Process

HARTFORD, Conn., Nov. 14, 2024 /PRNewswire/ — Covr, a leading digital insurance provider, has partnered with Allstate Financial Services, LLC to offer a streamlined suite of life, long-term care (LTC), and disability income insurance solutions through Covr’s digital platform. This partnership provides Allstate Financial Services customers with a simple, connected experience, featuring an intuitive, paperless process that makes it easier than ever to purchase insurance tailored to their diverse needs.

Covr’s platform offers an easy-to-use, self-guided experience to efficiently compare and recommend insurance products. Additionally, Allstate Financial Services will offer a range of products through Covr’s platform, including guaranteed issue life insurance through Gerber Life and disability insurance through Assurity, Ameritas, MassMutual, Mutual of Omaha and Principal. Traditional long-term care will also be available through Mutual of Omaha.

“We are extremely pleased to add Allstate’s network of 7,000+ representatives to our insurance platform,” said Michael Kalen, CEO of Covr. “Their business owners and individual customer base fits perfectly with our portfolio of simplified life, LTC, and disability income solutions for agents and their customers.”

“We’re committed to expanding solutions that better meet our customers’ protection needs,” said Scott Delaney, President and CEO, Allstate Financial Services. “With Covr’s digital platform, our representatives can deliver a more connected experience and offer a broader range of insurance options tailored to each customer’s unique needs.”

Allstate representatives will collaborate closely with Covr’s sales team to ensure ongoing support. Allstate Financial Services will also benefit from Covr’s top-tier case management services, providing end-to-end support throughout the entire insurance process.

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SOURCE Covr Financial Technologies

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