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市場調查報告書
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2099496

共封裝記憶體：市場佔有率分析、產業趨勢與統計資料、成長預測（2026-2031 年）

Co-Packaged Memory - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2026 - 2031)
出版日期: | 出版商: Mordor Intelligence | 英文 168 Pages | 商品交期: 2-3個工作天內

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簡介目錄

根據 Mordor Intelligence 預測，共封裝記憶體市場規模預計在 2025 年達到 4.2 億美元，2026 年達到 5.6 億美元，到 2031 年達到 17.7 億美元，2026 年至 2031 年的複合年成長率為 25.88%。

共封裝記憶體市場-IMG1

本報告按記憶體類型（HBM、封裝內DRAM等）、封裝結構（基於2.5D中介層的封裝、基於嵌入式橋接的封裝等）、應用（雲端伺服器和企業伺服器等）、客戶類型（半導體和人工智慧晶片供應商、超大規模資料中心業者和雲端服務供應商等）以及地區進行細分。市場預測以美元（USD）為單位。

全球共封裝記憶體市場趨勢與洞察

AI伺服器記憶體密度需求

人工智慧訓練和推理系統僅靠純粹的運算能力已無法滿足擴展需求。這是因為，在大規模模型工作負載中，記憶體頻寬已成為加速器核心利用率的限制因素。 NVIDIA 的 Blackwell 架構配備了 192 GB 的 HBM3e 內存，實現了 8 TB/s 的內存頻寬，這表明在當前的高階伺服器設計中，內存和計算資源必須緊密結合。三星宣布，到 2026 年，其商用 HBM4 的單堆疊頻寬將達到 3.3 TB/s，與 HBM3e 相比，能源效率提升 40%。這推動了高密度記憶體直接與計算邏輯連接的趨勢。這項變更意義重大，因為新一代加速器每個晶片消耗的 HBM 容量更大，使得伺服器升級不再只是處理器升級，而更像是大規模的記憶體相關專案。因此，共封裝記憶體市場正在擴張，這不僅是因為人工智慧伺服器出貨量不斷增加，還因為每個部署的伺服器單元都比以往的平台配備了更多的記憶體。即使買家對伺服器相關的整體支出變得更加謹慎，但需求仍然強勁，因為記憶體接近性現在會影響系統層級的模型吞吐量、延遲和功耗。

向以 HBM 為中心的封裝架構過渡

曾經是高階設計選項的HBM封裝，如今正成為高頻寬AI平台的標準版面。這是因為傳統的板級記憶體無法在不顯著增加功耗和訊號損耗的情況下實現可比較的吞吐量。根據NVIDIA的產品資訊和封裝級技術文檔，多層HBM設計的頻寬已經遠遠超過傳統的基於DDR的方案，這也解釋了為什麼HBM目前在共封裝記憶體市場中佔據主導地位。共封裝記憶體市場也受益於封裝標準和製程的不斷發展，這些發展不僅確保了峰值性能，也保證了短期內的可生產性。三星表示，HBM4將於2026年開始量產，其性能相比HBM3E將有顯著提升，這表明在過渡到下一代鍵合技術不可避免之前，供應商仍在從當前的堆疊設計中挖掘可觀的價值。這對買家來說至關重要。因為這使得平台的短期成長能夠依靠成熟的HBM整合路徑，而將更複雜的鍵結技術留給未來的技術發展。這也解釋了為什麼共封裝記憶體市場的需求集中在那些能夠協調記憶體、封裝和加速器藍圖，而不會強迫客戶進行突然的設計變更的供應商身上。

TSV和多晶片整合中良率損失高

良率下降仍是短期微縮面臨的最大阻礙因素之一。這是因為共封裝記憶體堆疊會累積數千個垂直連接和多個鍵合晶片的風險。 IMAPS裝置封裝會議上的一項研究發現，單層HBM可能需要5000到10000個TSV，而對於每層成功率為95%的12層堆疊，整體良率可能會下降到接近54%。這項計算意義重大，因為缺陷產品不僅會減少成品數量，還會消耗矽晶圓、組裝時間、材料以及原本可以用於生產可用產品的稀缺封裝設備。隨著界面寬度增加和堆疊高度從12層增加到16層，挑戰變得更加嚴峻，因為更高的密度通常會增加對缺陷的敏感性，並需要更精細的製程調整。雖然混合鍵合技術有望改善長期微縮，但同行評審的研究表明，鍵合壓力、表面狀況和介面品質仍然對熱性能和可靠性至關重要。這意味著，雖然共封裝記憶體市場需求強勁，但可用供應量的成長可能會放緩，因為下一代封裝的良率需要時間才能穩定下來。

細分市場分析

到2025年，HBM將佔據封裝記憶體市場84.11%的佔有率，這反映了其在頻寬而非記憶體容量才是主要效能瓶頸的系統中扮演核心角色。封裝記憶體市場持續向HBM靠攏，是因為目前的AI加速器需要比封裝外DRAM更短的互連路徑和更高的吞吐量，同時也要保持相近的能效。 NVIDIA的Blackwell平台就是一個例證，它廣泛採用HBM，實現了8 TB/s的記憶體頻寬，這得益於運算單元和記憶體封裝級的緊密整合。三星也表示，其商用HBM4單堆疊吞吐量高達3.3 TB/s，能源效率比HBM3E高40%，這進一步印證了HBM為何仍是封裝記憶體市場高階AI基礎設施的事實標準。因此，目前的領先優勢不僅反映了產品的可用性，而且還源於這樣一個事實：在 2025 年至 2026 年期間，不會有其他任何內存格式能夠在頻寬密度、封裝接近性和加速器兼容性方面與 HBM 相媲美。

封裝內DRAM預計將在2026年至2031年間以25.91%的複合年成長率成長，由於其基數較小，將成為共封裝記憶體市場中成長最快的記憶體類別。 AMD的Versal Premium Gen 2封裝內記憶體設計清晰地展現了這一點。該設計在一個封裝內整合了高達32GB的LPDDR5X內存，實現了288GB/s的頻寬，同時將基板面積減少了60%，滿足了客戶對成本和產品生命週期的要求，使其能夠更好地應對與HBM不同的需求。這為共封裝記憶體產業在自我調整運算、邊緣AI、汽車和長生命週期嵌入式系統等領域的部署開闢了新的面積，在這些領域，由於供應、更新周期和成本方面的限制，HBM仍然難以發揮其優勢。新興記憶體技術仍處於早期應用階段，因為封裝生態系統、互通性和製程尚未成熟，無法在主流加速器專案中大規模應用這些技術。 UCIe 3.0 提供了至關重要的技術基礎，提高了晶片間資料傳輸速率並增強了運行時功耗控制，有助於定義未來記憶體技術如何整合到封裝級設計中。因此，共封裝記憶體市場正在形成兩極化的格局：HBM 仍然是穩定的收入來源，而封裝內 DRAM 在擴大目標市場的同時，並未威脅到 HBM 在高階市場的地位。

預計到2025年，基於2.5D中介層的封裝方式將在共封裝記憶體市場佔據70.34%的佔有率。這表明，將運算晶片和多個記憶體堆疊放置在共用中介層上的佈局仍然是首選的商業方案。共封裝記憶體市場受益於這種架構，因為它在極高的頻寬和比目前大規模生產的全3D方案更成熟的製造基礎之間取得了平衡。此外，基於中介層的設計符合大多數目前加速器平台的認證方法，能夠在不施加更深垂直堆疊中常見的極其嚴格的散熱和鍵合條件的情況下實現高密度記憶體佈局。因此，嵌入式橋接、扇出和RDL封裝等競爭方案在網路、通訊和對成本敏感的運算應用中仍然佔據比頂級AI訓練基礎設施更重要的地位。因此，2.5D 在整個共封裝記憶體市場中的主導地位與實際可製造性、封裝生產線的可用性以及客戶對已知製程視窗的信心密切相關。

預計從2026年到2031年，3D堆疊封裝將以26.13%的複合年成長率成長，隨著混合鍵合、熱控制和良率管理技術的顯著提升，以及更廣泛的應用成為可能，這將為更高密度的整合鋪平道路。在2025年IEEE ECTC會議上發表的一項研究表明，台積電的SoIC冷堆疊技術與微凸塊方法相比，可將熱阻降低77%，這有力地證明了高密度3D封裝設計的長期有效性。同時，imec在2025年底的研究表明，除非系統和技術進行聯合最佳化，否則3D HBM-on-GPU佈局的峰值溫度可能會顯著高於同類2.5D封裝。這解釋了為什麼3D封裝的普及不僅取決於封裝密度，還取決於散熱和設計的改進。簡而言之，共封裝記憶體市場可能會分階段向3D封裝過渡，初期應用將主要由那些能夠證明工程投入、溫度控管成本和良率緩慢提升是合理的應用所驅動。此外，考慮到混合鍵合設備的前置作業時間和學習曲線，儘管3D堆疊技術正在推動成長，但2.5D技術目前仍保持著穩固的優勢。因此，共封裝記憶體市場呈現兩極化的局面：一方面是目前的主流生產標準，另一方面則是未來最具前瞻性的效能提昇路徑。

區域分析

預計到2025年，亞太地區將佔據共封裝記憶體市場56.58%的佔有率，並在2031年之前維持26.27%的複合年成長率，成為該市場成長最快的地區。這反映了該地區在HBM生產、代工能力和先進封裝組裝的高度集中。共封裝記憶體市場仍嚴重依賴韓國和台灣地區，其中三星電子和SK海力士在記憶體供應方面主導。同時，台灣地區在主導封裝和半導體組裝外包方面繼續發揮核心作用。這種區域結構至關重要，因為設計執行、記憶體製造和封裝級整合在物理上的接近性縮短了高頻寬人工智慧平台的迭代周期。中國的發展模式有所不同，隨著中國對封裝技術的熱情日益高漲，長電電子（JCET）正推進在上海臨港投資78億元人民幣（約合11.5億美元）建設先進封裝工廠的計劃，以服務電腦和汽車電子客戶。因此，共封裝記憶體市場規模之所以如此之大，不僅是因為工廠位置亞太地區，還因為該地區目前擁有最完整的 HBM 相關封裝供應鏈。

北美雖然在共封裝記憶體市場中規模相對小規模，但由於眾多超大規模資料中心業者、人工智慧晶片設計公司以及先進封裝政策專案集中於此，其戰略重要性日益凸顯。 2025年1月，美國國家標準與技術研究院（NIST）宣布，美國商務部已批准一項14億美元的北美先進封裝政策項目（NAPMP）津貼，其中包括支持位於亞利桑那州的“先進封裝試點工廠”以及多個基板和扇出型封裝加工項目。根據安姆科（Amcor）的投資者資料，該公司位於亞利桑那州的先進封裝園區進展順利，預計將於2027年完成設備部署，並於2028年投產，這將為北美實現本土2.5D封裝和HBM整合能力鋪平道路。這意味著，就目前而言，北美在共封裝記憶體市場中，需求、設計和政策方面的優勢仍然大於供應方面的優勢，但顯然，各方正在努力改變這種情況。

儘管歐洲在直接生產規模上仍然相對較小，但其在製程研發和封裝級散熱設計方面的努力使其具有戰略價值，這可能會影響未來的商業化進程。 imec 在 2025 年發布的一項關於 GPU 整合 3D HBM 熱管理的研究表明，儘管歐洲的 HBM 製造能力不如亞太地區，但它在共封裝記憶體市場仍然舉足輕重。日本作為亞太地區的一部分，正透過美光公司 HBM 相關產品的產能擴張活動不斷提升其市場佔有率，為其龐大的區域供應基地增添了一個新的製造節點。中東和非洲仍處於應用初期，主要受需求主導，而南美洲在預測期內缺乏重要的生產基地。因此，共封裝記憶體市場仍然高度集中於特定地區，儘管市場正在努力實現多元化，但目前尚不足以將市場重心從亞太地區轉移出去。

其他好處：

  • Excel格式的市場預測（ME）表
  • 3個月的分析師支持

目錄

第1章：引言

  • 研究假設和市場定義
  • 調查範圍

第2章：調查方法

第3章執行摘要

第4章 市場狀況

  • 市場概覽
  • 市場促進因素
    • AI伺服器記憶體密度需求
    • 向以 HBM 為中心的封裝架構過渡
    • 晶片設計中邏輯和記憶體的協同整合
    • 超大規模資料中心業者偏好低延遲、高頻寬的協定棧
    • 政府對先進包裝生態系的補貼
    • 提高加速運算中記憶體鄰接的能效。
  • 市場限制因素
    • TSV及多晶片整合中高良率降低
    • 記憶體整合先進封裝的生產能力不足
    • 與散熱和可靠性相關的限制
    • 高資本密集度與資質取得週期
  • 供應鏈分析
  • 監理情勢
  • 技術展望
  • 波特五力分析

第5章 市場規模與成長預測

  • 按記憶體類型
    • 高頻寬體（HBM）
    • 封裝內DRAM
    • 新興儲存技術
  • 所以
    • 採用 2.5D 中介層的封裝
    • 基於橋接的嵌入式封裝
    • 基於扇出/RDL的封裝
    • 3D堆疊包裝
  • 透過使用
    • 人工智慧加速器
    • 高效能運算和超級運算
    • 雲端伺服器和企業伺服器
    • 資料中心網路與通訊基礎設施
    • 汽車和邊緣運算平台
  • 依客戶類型
    • 半導體和人工智慧晶片供應商
    • 超大規模資料中心業者和雲端服務供應商
    • 伺服器、儲存和網路 OEM 製造商
    • 汽車和工業電子製造商
  • 按地區
    • 北美洲
      • 美國
      • 加拿大
      • 墨西哥
    • 歐洲
      • 德國
      • 英國
      • 法國
      • 義大利
      • 其他歐洲國家
    • 亞太地區
      • 中國
      • 日本
      • 韓國
      • 印度
      • 東南亞
      • 其他亞太國家
    • 南美洲
    • 中東和非洲

第6章 競爭情勢

  • 市場集中度
  • 策略趨勢
  • Market Positioning Analysis
  • 公司簡介
    • Samsung Electronics Co., Ltd.
    • SK hynix Inc.
    • Micron Technology, Inc.
    • Taiwan Semiconductor Manufacturing Company Limited
    • Intel Corporation
    • Advanced Micro Devices, Inc.
    • NVIDIA Corporation
    • Amkor Technology, Inc.
    • ASE Technology Holding Co., Ltd.
    • JCET Group Co., Ltd.
    • Powertech Technology Inc.
    • Siliconware Precision Industries Co., Ltd.
    • Kioxia Corporation
    • Nanya Technology Corporation
    • Renesas Electronics Corporation
    • Hanmi Semiconductor Co., Ltd.
    • Marvell Technology, Inc.
    • Broadcom Inc.
    • Rambus Inc.
    • Applied Materials, Inc.

第7章 市場機會與未來展望

簡介目錄
Product Code: 100261

According to Mordor Intelligence, the co-packaged memory market size is projected to be USD 0.42 billion in 2025, USD 0.56 billion in 2026, and reach USD 1.77 billion by 2031, growing at a CAGR of 25.88% from 2026 to 2031.

Co-Packaged Memory - Market - IMG1

This report is Segmented by Memory Type (HBM, On-Package DRAM, and More), Packaging Architecture (2. 5D Interposer-Based Packaging, Embedded Bridge-Based Packaging, and More), Application (Cloud and Enterprise Servers, and More), Customer Type (Semiconductor and AI Chip Vendors, Hyperscalers and Cloud Service Providers, and More), and Geography. The Market Forecasts are Provided in Terms of Value (USD).

Global Co-Packaged Memory Market Trends and Insights

AI Server Memory Density Requirements

AI training and inference systems no longer scale mainly through raw compute, because memory bandwidth now limits how effectively accelerator cores can stay utilized across large model workloads. NVIDIA's Blackwell architecture carries 192 GB of HBM3e and delivers 8 TB/s of memory bandwidth, which shows how close memory and compute must sit in current high-end server designs. Samsung stated in 2026 that its commercial HBM4 can deliver up to 3.3 TB/s per stack and improve power efficiency by 40% versus HBM3E, which supports the move toward denser memory attached directly to compute logic. That shift matters because each new accelerator generation consumes more HBM capacity per chip, which turns every server refresh into a larger memory event rather than a simple processor upgrade. As a result, the co-packaged memory market is expanding not only because AI server volumes are rising, but also because each installed unit now carries a much heavier memory content load than earlier platforms. This keeps demand firm even when buyers become selective on broader server spending, since memory proximity now affects model throughput, latency, and power draw at the system level.

Shift Toward HBM-Centric Package Architectures

HBM-centered packaging has moved from a premium design choice into the default layout for the highest-bandwidth AI platforms, because conventional board-level memory cannot deliver comparable throughput without far larger power and signal penalties. NVIDIA product disclosures and package-level technical documentation show that multi-stack HBM designs already provide bandwidth far above conventional DDR-based approaches, which explains why HBM now dominates the co-packaged memory market by memory technology. The co-packaged memory market also benefits from the fact that packaging standards and process flows are still evolving in ways that protect near-term manufacturability, not just peak performance. Samsung noted that HBM4 entered commercial production in 2026 with meaningful performance gains over HBM3E, which indicates that suppliers are still extracting major value from current stack designs before the next bonding transition becomes unavoidable. That matters for buyers because it allows near-term platform growth to stay anchored in proven HBM integration paths while keeping the next step toward more complex bonding methods tied to later generations. It also reinforces why the co-packaged memory market is seeing demand concentrate around suppliers that can align memory, packaging, and accelerator roadmaps without forcing abrupt design changes on customers.

High Yield Losses in TSV and Multi-Die Integration

Yield loss remains one of the strongest checks on near-term expansion, because co-packaged memory stacks accumulate risk across thousands of vertical connections and multiple bonded dies. Research from the IMAPS Device Packaging Conference showed that a single HBM layer may require 5,000 to 10,000 TSVs, and that a 12-layer stack at a 95% per-layer success rate can fall to a total stack yield near 54%. That math matters because scrap not only removes finished output, but it also consumes silicon, assembly time, materials, and scarce packaging tools that could have gone to usable product. The challenge becomes harder as interface widths rise and stack heights move from 12 layers toward 16 layers, because more density usually brings more defect sensitivity and more process tuning. Hybrid bonding will likely improve long-term scaling, but peer-reviewed work shows that bonding pressure, surface condition, and interface quality remain central to thermal and reliability outcomes. This means the co-packaged memory market can attract strong demand and still face slower usable supply growth when yields on next-generation packages take time to stabilize.

Other drivers and restraints analyzed in the detailed report include:

  1. Co-Integration of Logic and Memory in Chiplet Designs
  2. Hyperscaler Preference for Lower Latency and Higher Bandwidth Stacks
  3. Limited Advanced Packaging Capacity for Memory Integration

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

HBM held 84.11% of the co-packaged memory market share in 2025, which reflects its central role in systems where bandwidth is the main performance constraint rather than simple memory capacity. The co-packaged memory market keeps leaning toward HBM because current AI accelerators demand short interconnect paths and far higher throughput than off-package DRAM can supply at comparable power efficiency. NVIDIA's Blackwell platform illustrates that point, because its HBM-rich design reaches 8 TB/s of memory bandwidth and depends on close package-level integration between compute and memory. Samsung also stated that commercial HBM4 delivers up to 3.3 TB/s per stack with 40% better power efficiency than HBM3E, which reinforces why HBM remains the default path for high-end AI infrastructure in the co-packaged memory market. The current lead is therefore not only a reflection of product availability, but it is also tied to the fact that no other memory format in the 2025 to 2026 window matches HBM's blend of bandwidth density, package proximity, and accelerator compatibility.

On-package DRAM is projected to grow at a 25.91% CAGR from 2026 to 2031, which makes it the fastest-rising memory category inside the co-packaged memory market even though it starts from a much smaller base. AMD's Versal Premium Gen 2 Memory on Package design shows why, because it integrates up to 32 GB of LPDDR5X memory on package, delivers 288 GB/s bandwidth, and uses 60% less board area for customers that need a longer product life and a different cost profile than HBM. This opens room in the co-packaged memory industry for deployments in adaptive compute, edge AI, automotive, and long-lifecycle embedded systems where HBM supply, refresh cadence, and cost remain harder to justify. Emerging memory technologies still sit earlier in the adoption curve, because packaging ecosystems, interoperability, and process flows are not yet aligned to absorb them at volume across mainstream accelerator programs. UCIe 3.0 provides an important technical anchor by increasing die-to-die data rates and adding runtime power controls, which helps define how future memory forms may plug into package-level designs. The result is a two-track co-packaged memory market where HBM remains the clear revenue engine while on-package DRAM broadens the addressable base without displacing HBM at the top end.

2.5D interposer-based packaging accounted for 70.34% share of the co-packaged memory market size in 2025, which shows that the leading commercial path still favors a layout that places compute dies and multiple memory stacks on a shared interposer. The co-packaged memory market benefits from this architecture because it balances very high bandwidth with a manufacturing base that is more mature than full 3D alternatives in current production programs. Interposer-based designs also fit the way most present accelerator platforms are qualified, since they allow dense memory placement without yet forcing the most demanding thermal and bonding conditions seen in deeper vertical stacks. That is why competing approaches such as embedded bridge and fan-out or RDL packaging remain more relevant in networking, telecom, and cost-sensitive compute applications than in the top tier of AI training infrastructure. The present dominance of 2.5D is therefore closely tied to practical manufacturability, packaging line availability, and customer comfort with known process windows across the co-packaged memory market.

3D stacked packaging is projected to expand at a 26.13% CAGR from 2026 to 2031, because it offers a path to even tighter integration when hybrid bonding, thermal control, and yield management improve enough for broader use. Research presented at IEEE ECTC 2025 showed that TSMC's SoIC Cool-Stacking approach reduced thermal resistance by 77% versus micro-bump schemes, which points to a stronger long-term case for high-density 3D package designs. At the same time, imec showed in late 2025 that a 3D HBM-on-GPU layout can drive far higher peak temperatures than a comparable 2.5D package unless system and technology co-optimization is applied, which explains why adoption still depends on cooling and design refinement rather than on package density alone. This means the co-packaged memory market will likely move into 3D in stages, with the earliest traction centered on applications that can justify the engineering effort, thermal management cost, and slower yield ramp. Equipment lead times and learning curves for hybrid bonding also keep 2.5D firmly in front for now, even as 3D stacked formats set the growth pace. The co-packaged memory market, therefore, shows a split between today's dominant production standard and tomorrow's most aggressive performance path.

Complete Report Scope:

  • By Memory Type
    • High-Bandwidth Memory (HBM)
    • On-Package DRAM
    • Emerging Memory Technologies
  • By Packaging Architecture
    • 2.5D Interposer-Based Packaging
    • Embedded Bridge-Based Packaging
    • Fan-Out / RDL-Based Packaging
    • 3D Stacked Packaging
  • By Application
    • AI Accelerators
    • High-Performance Computing and Supercomputing
    • Cloud and Enterprise Servers
    • Data Center Networking and Telecom Infrastructure
    • Automotive and Edge Compute Platforms
  • By Customer Type
    • Semiconductor and AI Chip Vendors
    • Hyperscalers and Cloud Service Providers
    • Server, Storage, and Networking OEMs
    • Automotive and Industrial Electronics Companies
  • By Geography
    • North America
      • United States
      • Canada
      • Mexico
    • Europe
      • Germany
      • United Kingdom
      • France
      • Italy
      • Rest of Europe
    • Asia-Pacific
      • China
      • Japan
      • South Korea
      • India
      • Southeast Asia
      • Rest of Asia-Pacific
    • South America
    • Middle East and Africa

Geography Analysis

Asia-Pacific held 56.58% of the co-packaged memory market share in 2025 and is projected to record the fastest CAGR at 26.27% through 2031, which reflects the region's deep concentration in HBM production, foundry capability, and advanced package assembly. The co-packaged memory market remains heavily anchored in South Korea and Taiwan because Samsung Electronics and SK Hynix lead memory supply, while Taiwan stays central to interposer-led packaging and outsourced semiconductor assembly. This regional structure matters because it brings design execution, memory fabrication, and package-level integration into close physical proximity, which shortens iteration cycles for high-bandwidth AI platforms. China is evolving in a different way, with JCET planning a CNY 7.8 billion (USD 1.15 billion) advanced packaging facility in Shanghai Lingang to serve computing and automotive electronics customers as local packaging ambition rises. The co-packaged memory market, therefore, draws much of its scale from Asia-Pacific not only because factories are located there, but also because the region has the most complete operating chain for HBM-linked packaging today.

North America represents a smaller production base in the co-packaged memory market, yet it holds rising strategic weight because many hyperscalers, AI chip designers, and advanced packaging policy programs are concentrated there. NIST stated in January 2025 that the U.S. Department of Commerce finalized USD 1.4 billion in NAPMP awards, including support for the Advanced Packaging Piloting Facility in Arizona and several substrate and fan-out processing programs. Amkor's investor materials showed that its Arizona advanced packaging campus remained on track for tool installation in 2027 and production start in 2028, which gives North America a clearer route toward domestic 2.5D packaging and HBM integration capacity. That means the region's role in the co-packaged memory market is still stronger on demand, design, and policy than on immediate supply, but the effort to change that balance is now clearly underway.

Europe remains smaller in direct production terms, though it carries strategic value through process research and package-level thermal work that can influence later commercial adoption. imec's published 2025 work on 3D HBM-on-GPU thermal mitigation shows why Europe matters to the co-packaged memory market even without equivalent scale in HBM manufacturing capacity. Japan, while counted within Asia-Pacific, has become more notable through Micron's HBM-related ramp activity, which adds another production node to the broader regional supply base. Middle East and Africa remain early in adoption and largely demand-led, while South America has no meaningful production presence in the current forecast window. This leaves the co-packaged memory market geographically concentrated, with diversification efforts growing but not yet strong enough to alter the center of gravity away from Asia-Pacific.

  1. Samsung Electronics Co., Ltd.
  2. SK hynix Inc.
  3. Micron Technology, Inc.
  4. Taiwan Semiconductor Manufacturing Company Limited
  5. Intel Corporation
  6. Advanced Micro Devices, Inc.
  7. NVIDIA Corporation
  8. Amkor Technology, Inc.
  9. ASE Technology Holding Co., Ltd.
  10. JCET Group Co., Ltd.
  11. Powertech Technology Inc.
  12. Siliconware Precision Industries Co., Ltd.
  13. Kioxia Corporation
  14. Nanya Technology Corporation
  15. Renesas Electronics Corporation
  16. Hanmi Semiconductor Co., Ltd.
  17. Marvell Technology, Inc.
  18. Broadcom Inc.
  19. Rambus Inc.
  20. Applied Materials, Inc.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

TABLE OF CONTENTS

1 INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET LANDSCAPE

  • 4.1 Market Overview
  • 4.2 Market Drivers
    • 4.2.1 AI Server Memory Density Requirements
    • 4.2.2 Shift Toward HBM-Centric Package Architectures
    • 4.2.3 Co-Integration of Logic and Memory in Chiplet Designs
    • 4.2.4 Hyperscaler Preference for Lower Latency and Higher Bandwidth Stacks
    • 4.2.5 Government Subsidies for Advanced Packaging Ecosystems
    • 4.2.6 Memory-Adjacent Power Efficiency Gains in Accelerated Computing
  • 4.3 Market Restraints
    • 4.3.1 High Yield Losses in TSV and Multi-Die Integration
    • 4.3.2 Limited Advanced Packaging Capacity for Memory Integration
    • 4.3.3 Thermal Dissipation and Reliability Constraints
    • 4.3.4 High Capital Intensity and Qualification Cycles
  • 4.4 Supply Chain Analysis
  • 4.5 Regulatory Landscape
  • 4.6 Technological Outlook
  • 4.7 Porter's Five Forces Analysis
    • 4.7.1 Bargaining Power of Suppliers
    • 4.7.2 Bargaining Power of Buyers
    • 4.7.3 Threat of New Entrants
    • 4.7.4 Threat of Substitutes
    • 4.7.5 Competitive Rivalry

5 MARKET SIZE AND GROWTH FORECASTS (VALUE)

  • 5.1 By Memory Type
    • 5.1.1 High-Bandwidth Memory (HBM)
    • 5.1.2 On-Package DRAM
    • 5.1.3 Emerging Memory Technologies
  • 5.2 By Packaging Architecture
    • 5.2.1 2.5D Interposer-Based Packaging
    • 5.2.2 Embedded Bridge-Based Packaging
    • 5.2.3 Fan-Out / RDL-Based Packaging
    • 5.2.4 3D Stacked Packaging
  • 5.3 By Application
    • 5.3.1 AI Accelerators
    • 5.3.2 High-Performance Computing and Supercomputing
    • 5.3.3 Cloud and Enterprise Servers
    • 5.3.4 Data Center Networking and Telecom Infrastructure
    • 5.3.5 Automotive and Edge Compute Platforms
  • 5.4 By Customer Type
    • 5.4.1 Semiconductor and AI Chip Vendors
    • 5.4.2 Hyperscalers and Cloud Service Providers
    • 5.4.3 Server, Storage, and Networking OEMs
    • 5.4.4 Automotive and Industrial Electronics Companies
  • 5.5 By Geography
    • 5.5.1 North America
      • 5.5.1.1 United States
      • 5.5.1.2 Canada
      • 5.5.1.3 Mexico
    • 5.5.2 Europe
      • 5.5.2.1 Germany
      • 5.5.2.2 United Kingdom
      • 5.5.2.3 France
      • 5.5.2.4 Italy
      • 5.5.2.5 Rest of Europe
    • 5.5.3 Asia-Pacific
      • 5.5.3.1 China
      • 5.5.3.2 Japan
      • 5.5.3.3 South Korea
      • 5.5.3.4 India
      • 5.5.3.5 Southeast Asia
      • 5.5.3.6 Rest of Asia-Pacific
    • 5.5.4 South America
    • 5.5.5 Middle East and Africa

6 COMPETITIVE LANDSCAPE

  • 6.1 Market Concentration
  • 6.2 Strategic Moves
  • 6.3 Market Positioning Analysis
  • 6.4 Company Profiles (includes Global Level Overview, Market Level Overview, Core Segments, Financials as available, Strategic Information, Market Rank/Share, Products and Services, Recent Developments)
    • 6.4.1 Samsung Electronics Co., Ltd.
    • 6.4.2 SK hynix Inc.
    • 6.4.3 Micron Technology, Inc.
    • 6.4.4 Taiwan Semiconductor Manufacturing Company Limited
    • 6.4.5 Intel Corporation
    • 6.4.6 Advanced Micro Devices, Inc.
    • 6.4.7 NVIDIA Corporation
    • 6.4.8 Amkor Technology, Inc.
    • 6.4.9 ASE Technology Holding Co., Ltd.
    • 6.4.10 JCET Group Co., Ltd.
    • 6.4.11 Powertech Technology Inc.
    • 6.4.12 Siliconware Precision Industries Co., Ltd.
    • 6.4.13 Kioxia Corporation
    • 6.4.14 Nanya Technology Corporation
    • 6.4.15 Renesas Electronics Corporation
    • 6.4.16 Hanmi Semiconductor Co., Ltd.
    • 6.4.17 Marvell Technology, Inc.
    • 6.4.18 Broadcom Inc.
    • 6.4.19 Rambus Inc.
    • 6.4.20 Applied Materials, Inc.

7 MARKET OPPORTUNITIES AND FUTURE OUTLOOK

  • 7.1 White-Space and Unmet-Need Assessment