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Page 1: Fan-Out Packaging 2019...To evaluate your Fan-Out Packaging technologies’ market potential To position your company in the market To monitor and benchmark your competitors OSATs,

© 2018

SAMPLE

Fan-Out Packaging 2019

Technologies & Market Trends

From Technologies to Markets

Page 2: Fan-Out Packaging 2019...To evaluate your Fan-Out Packaging technologies’ market potential To position your company in the market To monitor and benchmark your competitors OSATs,

Biography & contact

2©2019 | www.yole.fr | Fan-Out Packaging: Technologies & Market Trends | SAMPLE

ABOUT THE AUTHOR

Favier Shoo, Market &Technology Analyst, Semiconductor & Software Division

Favier Shoo is a Technology and Market Analyst in the Semiconductor & Software division at Yole

Développement, part of Yole Group of Companies. Favier is engaged in the development of technology &

market reports as well as the production of custom consulting.

After spending 7 years at Applied Materials as a Customer-Application-Technologist in advanced packaging

marketspace, Favier had developed a deep understanding of the supply chain and core business values. Being

knowledgeable in this field, Favier had given trainings and held numerous technical review sessions with

industry players. In addition, he had obtained 2 patents.

Prior to that, Favier had worked at REC Solar as a Manufacturing Engineer to maximize production capacity.

Favier holds a Bachelor in Materials Engineering (Hons) and a Minor in Entrepreneurship from Nanyang

Technological University (NTU) (Singapore). Favier was also the co-founder of a startup company where he

formulated business goals, revenue models and marketing plans.

Contact: [email protected]

Page 3: Fan-Out Packaging 2019...To evaluate your Fan-Out Packaging technologies’ market potential To position your company in the market To monitor and benchmark your competitors OSATs,

3©2019 | www.yole.fr | Fan-Out Packaging: Technologies & Market Trends | SAMPLE

COMPANIES CITED IN THE REPORT

3D-Plus, 3M, AGC, Amkor, Analog Devices, Akrometrix, Apple, Applied Materials, ASE, ASM, A*Star, Aurora semiconductors, Besi, Boschmann, Brewer Science, Broadcom, Bosch, Camtek, Corning, Dialog Semiconductor, Dow, Evatec, EVGroup, Fico Molding, Freescale (NXP), Fujifilm, HD microsystems, Henkel, Hi Silicon, Huawei, Huatian, Hitachi chemicals, Hoya, Ibiden, IME, Infineon, Intel, ITRI, JSR, Lintec, Mediatek, Medtronic, Mitsui Chemicals, Nagase ChemteX, Nanium (Amkor), Nanometrics, Nepes, Nitto

Denko, Nokia, NXP, Plan Optik AG, PTI, Oerlikon (Evatec), Platform Specialty Products, Qualcomm, Rudolph Technologies, Samsung, SEMCO, Semsysco, SEMPRIUS, Shinko Electric, SPIL, STATS ChipPAC (JCET), STMicroelectronics, Schott, Screen, SPTS Technologies (Orbotech), Shin-Etsu, Sumitomo, SÜSS MicroTec AG, TEL-NEXX, TSMC, TOK, Toray Chemical, Towa, Unimicron,

UnitySC, Ultratech, ULVAC, Ushio, UTAC, Yamada and more… Wafer test & Functional test

Page 4: Fan-Out Packaging 2019...To evaluate your Fan-Out Packaging technologies’ market potential To position your company in the market To monitor and benchmark your competitors OSATs,

4©2019 | www.yole.fr | Fan-Out Packaging: Technologies & Market Trends | SAMPLE

REPORT SCOPE

The main objectives of this report are the following:

• To identify and describe which technologies can be classified as ‘Fan-Out’

• To update the business status of Fan-Out technologies markets

• To analyze key market drivers, benefits and challenges of Fan-Out packages by application

• To describe the different existing technologies, their trends and roadmaps

• To analyze supply chain and Fan-Out landscape

• To provide a market forecast for the coming years, and estimate future trends

The Fan-Out markets are studied from the following angles:

• State-of-the-art technologies and trends

• End-user applications and drivers

• Market value

• Industrial supply chain & value chain

Page 5: Fan-Out Packaging 2019...To evaluate your Fan-Out Packaging technologies’ market potential To position your company in the market To monitor and benchmark your competitors OSATs,

©2019 | www.yole.fr | Fan-Out Packaging: Technologies & Market Trends | SAMPLE 5

REPORT METHODOLOGY

Market segmentation methodology

Market forecast methodology

Page 6: Fan-Out Packaging 2019...To evaluate your Fan-Out Packaging technologies’ market potential To position your company in the market To monitor and benchmark your competitors OSATs,

©2019 | www.yole.fr | Fan-Out Packaging: Technologies & Market Trends | SAMPLE 6

REPORT METHODOLOGY

Technology analysis methodology Information collection

Page 7: Fan-Out Packaging 2019...To evaluate your Fan-Out Packaging technologies’ market potential To position your company in the market To monitor and benchmark your competitors OSATs,

©2019 | www.yole.fr | Fan-Out Packaging: Technologies & Market Trends | SAMPLE 7

WHO SHOULD BE INTERESTED IN THIS REPORT

Equipment & material suppliers: To identify new business opportunities and prospects

To understand the differentiated value of your products and technologies

To identify technology trends, challenges and precise requirements

To evaluate your Fan-Out Packaging technologies’ market potential

To position your company in the market

To monitor and benchmark your competitors

OSATs, IDMs & Foundries: To understand technology trends related to Fan-Out Packaging platforms

To spot new opportunities and define diversification strategies

To understand the overall Fan-Out Packaging market

To monitor and benchmark potential competitors

To understand the supply chains involved in Fan-Out Packaging

R&D organizations:To evaluate the potential of future technologies and products

Identify market needs for new applications

To understand the bottle necks of the Fan-Out Packaging technology and direct their resources to solve the technical issues

To identify the best candidates for technology transfers

To identify the partners for consortia

Financial & Strategic investors: To identify new business opportunities and prospects

To understand the market potential of Fan-Out Packaging

To understand which players will benefit from Fan-Out Packaging adoption

To understand the players that are investing in the Fan-Out Packaging business

OEMs & Integrators: To understand technology trends in Fan-Out Packaging platforms

To spot new opportunities and define diversification strategies

To understand the overall Fan-Out Packaging market

To monitor and benchmark potential competitors

To understand the supply chains including the equipment / material suppliers

Page 8: Fan-Out Packaging 2019...To evaluate your Fan-Out Packaging technologies’ market potential To position your company in the market To monitor and benchmark your competitors OSATs,

©2019 | www.yole.fr | Fan-Out Packaging: Technologies & Market Trends | SAMPLE 8

TABLE OF CONTENTS

Introduction 5

o Report Scope and Objectives

o Companies cited in this report

o Glossary

What’s new since our last report? 11

Executive summary 17

Advanced Packaging trends 62

Overview of FO Packaging 80

o FO Introduction & Package level Definition

o Drivers: Differentiation & Benefits

Cost Analysis 103

o Different Types of FO | Compare with other Packages | Yield-Cost

Technologies and Products 116

o Segmentation

o Fan-Out Packaging Technologies available and expected

o Technology Roadmaps

o Challenges and Limitations

Fan-Out Panel Level Packaging 214

o Panel-trends and motivations

o Reality of Panel penetration

Supply Chain Status and Analysis 232

o Players and positioning within the supply chain

o Activity and Progression:

• Business models evolution | Positioning of Key Players

Commercialization Status and Analysis 256

o Type of products and markets of interest

o Which type of Fan-Out for which application?

• Telecom products, APE, Automotive, MEMS, HPC, etc…

o Stories:

• Manufacturing capabilities

• Opportunities and Challenges

Market Value and Forecasts 312o Revenues (per end-markets, per applications)

o Volumes (in wafers, in packages)

Conclusions 328

Appendix / Company presentation 333

Page 9: Fan-Out Packaging 2019...To evaluate your Fan-Out Packaging technologies’ market potential To position your company in the market To monitor and benchmark your competitors OSATs,

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EMBEDDED PACKAGING TECHNOLOGIES

Embedded packaging technologies with connections

fanned out of IC surface

Embedding in organic laminate Embedding in epoxy mold compound

chip-first: CF

chip-last: CL

FACE UP: FU

FACE DOWN: FD

Process typeLamination around

the chip

Cavity dig in

substrate

Interconnections type RDLFoundry

BEOL + RDL

Advanced

Substrate

Chip orientation

Encapsulator type

CF / CLCF / CL CL

FU / FD FU / FD

Chip placing

Embedded Die

Fan-Out Packaging

(Focus of the report)

Flip-Chip

Page 10: Fan-Out Packaging 2019...To evaluate your Fan-Out Packaging technologies’ market potential To position your company in the market To monitor and benchmark your competitors OSATs,

10©2019 | www.yole.fr | Fan-Out Packaging: Technologies & Market Trends | SAMPLE

Smaller footprint and thinner package than

Flip-Chip BGA

Lower thermal resistance compared

to Flip-Chip BGA

Simplified supply chain and manufacturing

infrastructure

No laminate substrate required

No restriction in bump pitch

Shorter interconnections

Fan-Out zone adaptable to customer

needs

FAN-OUT KEY DIFFERENTIATORS

Fan-Out provides several advantages.

Mold Chip

And others such as:

• Better board level reliability

compared to WLCSP

• RoHS an REACH compliant

package

• Excellent electrical

performance

• High degree of package design

freedom

• Reliable, miniaturized high

performance package

Page 11: Fan-Out Packaging 2019...To evaluate your Fan-Out Packaging technologies’ market potential To position your company in the market To monitor and benchmark your competitors OSATs,

©2019 | www.yole.fr | Fan-Out Packaging: Technologies & Market Trends | SAMPLE 11

FAN-OUT PACKAGING PRINCIPLE

01Tape lamination

Carrier

02

Pick and place

Carrier with foil and chips

03Wafer-level molding

Molding with liquid mold compound

04 Carrier removal (de-bonding)Reconstituted waferbackside after molding

05Standard WLP process

(Passivation, pattern, RDL, bonding)WLP Fan-Out wafer

Fan-Out: Dies embedded in mold compound. No advanced substrate needed to fan out of chip surface.

eWLB example (chip-first face-down)Source: Infineon

06Dicing

After singulation

Page 12: Fan-Out Packaging 2019...To evaluate your Fan-Out Packaging technologies’ market potential To position your company in the market To monitor and benchmark your competitors OSATs,

12©2019 | www.yole.fr | Fan-Out Packaging: Technologies & Market Trends | SAMPLE

High Yield:

99%

Medium Yield:

90%

Low Yield:

70%

$0,00

$0,01

$0,02

$0,03

$0,04

$0,05

$0,06

$0,07

$0,08

$0,09

$0,10

Core FOWLP: 1 Die-Pkg

Low-End: 1xRDL 100 I/O

Reconstituted 200mm wafer

698 Pkg / wafer

Core FOPLP: 2 Die-Pkg

Mid-End: 3xRDL 500 I/O

Reconstituted 415x510mm panel

2276 Pkg / panel

Core FOWLP: 3 Die-Pkg

Mid-End: 4xRDL 500 I/O

Reconstituted 300mm wafer

237 Pkg / wafer

HD FOWLP: 1 Die-Pkg

High-End: 3xRDL 1500 I/O

Reconstituted 300mm wafer

277 Pkg / wafer

Cost-Yield Behaviour of different FO Technologies

Cost per Die Area ($/mm2)

FAN-OUT PACKAGING: COST ANALYSIS OF DIFFERENT TECHNOLOGIES

200mm FOWLP is not cost effective due to smaller carrier size which limits die area per carrier.

Core FOPLP is a cheaper solution as compared to Core FOWLP. This is due to FOPLP ability to have more die areas in a panel carrier.

HD FOWLP cost can be lower than Core FOWLP.

Cost = Package Manufacturing Cost + Package Yield Lost Cost. Estimations based on System Plus Consulting Model

Die cost is assumed to be similar regardless of the number or type of dies in a package

Page 13: Fan-Out Packaging 2019...To evaluate your Fan-Out Packaging technologies’ market potential To position your company in the market To monitor and benchmark your competitors OSATs,

©2019 | www.yole.fr | Fan-Out Packaging: Technologies & Market Trends | SAMPLE 13

FAN-OUT PACKAGING: *WAFER VOLUME DISTRIBUTION IN 2017 & 2018

Others

2018

*Volume units are in 300mm wafer equivalent.

*Total wafer volume includes 200mm, 300mm, 330mm and Panels.

*Volume splits are based on annual capacity.

2017

Others

14%

9%

8%4%

65%

*1,621,218

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©2019 | www.yole.fr | Fan-Out Packaging: Technologies & Market Trends | SAMPLE 14

WHAT’S NEW IN TECHNOLOGY SINCE 2017?

New Technologies available:• HVM of Gen-2 inFO (Integrated Fan-Out) PoP for Apple’s iPhone APE

• Successfully qualification of Gen-3 inFO for Apple’s iPhone latest APE

• Qualification of inFO-oS (on Substrate) for HPC device

Exciting developments for new applications:• inFO-AiP (Antenna-in-Package) for mmWave application (5G etc.)

• inFO-MS (Memory on Substrate) for Data Server application (Cloud etc.)

• inFO aggressive roadmaps to go sub-microns in RDL L/S resolution

New Panel-Level Fan-Out Packaging Capabilities:• HVM production by SEMCO

• LVM production by PTI

Provided analysis on PTI’s “all-in” approach for FOPLP technology• Why FOPLP make sense for PTI?

• What is PTI Architectural Strategy?

Page 15: Fan-Out Packaging 2019...To evaluate your Fan-Out Packaging technologies’ market potential To position your company in the market To monitor and benchmark your competitors OSATs,

©2019 | www.yole.fr | Fan-Out Packaging: Technologies & Market Trends | SAMPLE 15

FAN-OUT PACKAGING: RF CHIP AND ANTENNA IN PACKAGE

Technology inFO-AiP eWLB PoP eWLB F2F Mold-on-Mold

Schematics

ApplicationWireless HD and WiGig:

mmWave>60 GHz applications Radar: 77 GHz Transceiver 60 GHz WLAN

Technology

Highlights

Creative designs to address transmission requirements with various Fan-Out Packaging Technologies

Page 16: Fan-Out Packaging 2019...To evaluate your Fan-Out Packaging technologies’ market potential To position your company in the market To monitor and benchmark your competitors OSATs,

©2019 | www.yole.fr | Fan-Out Packaging: Technologies & Market Trends | SAMPLE 16

FAN-OUT TECHNOLOGY ROADMAPS

How is Fan-Out Technology evolving moving forward?

Page 17: Fan-Out Packaging 2019...To evaluate your Fan-Out Packaging technologies’ market potential To position your company in the market To monitor and benchmark your competitors OSATs,

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FAN-OUT COST EVOLUTION: TRENDS FOR CARRIERS

Carriers in production and forecasts

Cost reduction pressure drives carrier size and carrier type thinking.

2009 - 2013 2015 2016 2017 ≥ 20192018

Panels

Wafers

– NEPES started production in 2017

– PTI & SEMCO to go in production in 2018

– Other players in R&D /development stage

- PTI, SEMCO & NEPES in production in 2018

?

- Only STATS ChipPAC in 330 mm production so far

- 450mm may appear at TSMC but only if direct competition uses

panel (not the case yet).

- Most of FO production is done on 300mm

wafers and will remain this way for several

years

- 330mm wafer size allows cost reduction

but requires investment

- Going to panel requires high investment,

long time and is worthwhile only if volume

is following.

200mm

300mm

330mm

Page 18: Fan-Out Packaging 2019...To evaluate your Fan-Out Packaging technologies’ market potential To position your company in the market To monitor and benchmark your competitors OSATs,

18©2019 | www.yole.fr | Fan-Out Packaging: Technologies & Market Trends | SAMPLE

FAN-OUT COST EVOLUTION: MARKET TRENDS FOR CARRIERS

Panel will progressively take volumes of production shares but in a limited path.

Yole Développement January 2019

Page 19: Fan-Out Packaging 2019...To evaluate your Fan-Out Packaging technologies’ market potential To position your company in the market To monitor and benchmark your competitors OSATs,

©2019 | www.yole.fr | Fan-Out Packaging: Technologies & Market Trends | SAMPLE 19

PACKAGING SUPPLY CHAIN ANALYSIS

Wafer-Level-Packages are changing the standard Front-End/Back-End supply chain

With packages done at wafer-level, players dedicated to front-end with wafer equipment are now able to go further in the manufacturing chain.

With the same objective of enlarging their scope of action, OSATs can go further in their processing steps, since ‘package’ can start earlier in the manufacturing chain and at the wafer-level.

A ‘middle-end’ zone in between front-end and back-end, where bumping and packaging can be executed on the wafer-level, can be reached by OSATs, WLP Houses and IDMs.

Front-EndWafer manufacturing

‘Middle-end’

Back-EndAssembly & test

Busi

ness

Busi

ness

Etch

Implant

CVDPVD

CMP

Wafer test

TSVBumping

RDL / wiring C2W

C2C / C2S

UnderfillMolding Final test

HandlingBGA

Dicing

Inspection

Cleaning

Thinning

Inspection W2W

Source: STATS ChipPAC

Page 20: Fan-Out Packaging 2019...To evaluate your Fan-Out Packaging technologies’ market potential To position your company in the market To monitor and benchmark your competitors OSATs,

20©2019 | www.yole.fr | Fan-Out Packaging: Technologies & Market Trends | SAMPLE

MEMS

CMOS Image Sensors

Display Drivers

Codec

DC-DC

Wifi

BB

PMU/PMIC

RF

Application

Processors

(APE) + BB

APE+DRAM

GPU,CPU+Memory

(Wide IO, etc…)

High Bandwith Memories

FPGA

Processors+Memories

FAN-OUT PACKAGING APPLICATION: *LANDSCAPE OF KEY PLAYERS

Area of focus from standard, high-end to high-performance applications

IO count10000

1000

100

2x2 5x5 10x10 15x15 20x20 >20x20 >>20x20

Package size

(mm x mm)

Core Fan-OutStandard Devices: RF, PMU, BB etc.

High-Density Fan-Out:High-End: Mobile APE etc.

Ultra High-Density Fan-Out:High-Performance: HPC, networking, etc.

*Includes production, qualification and device-level demonstration. Does not include early stage engineering or R&D.

Page 21: Fan-Out Packaging 2019...To evaluate your Fan-Out Packaging technologies’ market potential To position your company in the market To monitor and benchmark your competitors OSATs,

©2019 | www.yole.fr | Fan-Out Packaging: Technologies & Market Trends | SAMPLE 21

WHAT ARE THE LATEST DEVELOPMENTS FROM KEY PLAYERS?

Page 22: Fan-Out Packaging 2019...To evaluate your Fan-Out Packaging technologies’ market potential To position your company in the market To monitor and benchmark your competitors OSATs,

©2019 | www.yole.fr | Fan-Out Packaging: Technologies & Market Trends | SAMPLE 22

FAN-OUT PACKAGING SUPPLY-CHAIN: DIFFERENT BUSINESS MODELS

Types of Companies OSATs Foundries IDMs R&D labs

Tech

nolo

gy S

tatu

s

Assessment

(Internal or through

partnership)**

Production Ready

Demo Sampling

LVM

Production

HVM

*Non-exhaustive list of players

**Some companies are developing FOWLP internally and some others like Global

Foundries are pushing for improvement of the technologies with external partners

(OSATs or R&D labs).

Page 23: Fan-Out Packaging 2019...To evaluate your Fan-Out Packaging technologies’ market potential To position your company in the market To monitor and benchmark your competitors OSATs,

©2019 | www.yole.fr | Fan-Out Packaging: Technologies & Market Trends | SAMPLE 23

FAN-OUT MARKET: BUSINESS MODEL EVOLUTION

100%

$244 M*

2015

OSAT only

65%

35%

$847 M*

2017

Foundry Impact

2019

IDM Entry

10%

71%

19%

$3,864 M*

2024

Foundry vs IDM

CAGR +51%

CAGR +23%

CAGR +19%

6%

65%

28%

$1,584 M*

*Total Market Value based on revenue

OSAT Foundry IDM

Page 24: Fan-Out Packaging 2019...To evaluate your Fan-Out Packaging technologies’ market potential To position your company in the market To monitor and benchmark your competitors OSATs,

24©2019 | www.yole.fr | Fan-Out Packaging: Technologies & Market Trends | SAMPLE

ADVANCED SUBSTRATE VS FAN-OUT TECHNOLOGIES

The Analyst’s Point of View on APE Packaging Solutions

Advanced Substrate Fan-Out

*APE volumes by packaging solution for mobile market only

Page 25: Fan-Out Packaging 2019...To evaluate your Fan-Out Packaging technologies’ market potential To position your company in the market To monitor and benchmark your competitors OSATs,

25©2019 | www.yole.fr | Fan-Out Packaging: Technologies & Market Trends | SAMPLE

FAN-OUT ACTIVITY MARKET FORECAST

Fan-Out Packaging continues to strive in this new digital agedriven by Mega-Trends

Yole Développement January 2019*Core FO: Low-End to Mid-End devices

*HD FO: High-End to High-Performance devices

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©2019 | www.yole.fr | Fan-Out Packaging: Technologies & Market Trends | SAMPLE 26

FAN-OUT PACKAGING: MORE MARKET FORECAST SLIDES

Market forecasts with different levels of breakdown…

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FAN-OUT PACKAGING MARKET

The Analyst’s Point of View (4/4)

We asked this question in our 2017 report…

And it is still valid and debatable today…

China players are still at infant stage in FO Packaging

manufacturing. Cost reduction game can be even more

aggressive with China economic-of-scale. On hindsight, the

knowledge, performance and yield have to established first.

Numerous analysts are expecting

extremely high market growth. In Core

FO, players are investing in capacity and

looking at panel solution for cost

reduction. Overcapacity is a real risk

without new demands.

>50% of the market is comprised of the

HD market which is not accessible

market to players apart from TSMC and

Samsung for the next coming 2 years.

Industry is no longer overexcited about Fan-

Out packaging since TSMC/Apple buzz…

FO potential is high and growth is steady

but it will not be a $10B market in just few

years.Is there a

Fan-Out

Bubble?

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©2019 | www.yole.fr | Fan-Out Packaging: Technologies & Market Trends | SAMPLE 28

RELATED REPORTS

Discover more related reports within our bundles here.

Page 29: Fan-Out Packaging 2019...To evaluate your Fan-Out Packaging technologies’ market potential To position your company in the market To monitor and benchmark your competitors OSATs,

TSMC has further extended its lead in the “High-Density Fan-Out” (HD FO) market, with gen-2 integrated Fan-Out (inFO) High-Volume Manufacturing (HVM) production and successful qualification of gen-3 inFO for Apple’s iPhone application processor engine (APE). TSMC understands that industry technologies and applications are undergoing unprecedented change in a new, digital mega-trend-driven era. Consequently, exciting technological developments exist to address these new demands.

TSMC has commenced risk-production of inFO-oS (on substrate) for HPC qualifications. Moreover, the company is developing inFO-AiP (antenna-in-package) for mmWave applications (5G, etc.), and inFO-MS (memory-on-substrate) for data-server applications (i.e. cloud). TSMC is also creating a new market segment called ultra-high-density Fan-Out (UDH FO), with a very aggressive sub-micron L/S roadmap and >1500 I/O.

In the “core” Fan-Out (Core FO) market, SEMCO and Powertech Technology Inc. (PTI) have stolen

the limelight by rolling out Fan-Out panel-level-packaging (FOPLP) volume production for the first time in Fan-Out packaging history. SEMCO utilized embedded package-level-packaging (ePLP) technology in the Samsung Galaxy smartwatch for the consumer market, for a multi-die FO package consisting of APE + Power Management Integrated Circuit (PMIC) with ~500 I/O. PTI successfully commenced FOPLP PMIC in Low Volume Manufacturing (LVM) for MediaTek’s automotive radar application.

For packaging houses to remain attractive for key fabless players like Qualcomm and MediaTek, cost-reduction is necessary. To this end, SEMCO, PTI, ASE/Deca, and Nepes have invested in Fan-Out at panel-level by leveraging existing facilities and capabilities to achieve economy-of-scale production. Currently, only SEMCO and PTI have been able to kick-start production because the yield for panel-level processing requires optimization and new technology qualification for HVM.

FAN-OUT PACKAGING: TECHNOLOGIES AND MARKET TRENDS 2019 Market & Technology report - January 2019

SIGNIFICANT NEW DEVELOPMENTS IN A DYNAMIC FAN-OUT LANDSCAPE

Samsung and PTI, with panel-level packaging, have entered the Fan-Out battlefield.

WHAT’S NEW• Overview of the latest technologies:

available and in-development • Comparison of different Fan-Out

packaging platforms and associated costs

• Commercialization status update with market adoption for new applications, updated forecasts, and potential-analysis update, by technology

• Updated strategy analysis for main players and new entrants, including TSMC, SEMCO/Samsung, PTI, Amkor, JCET Group, ASE, and Deca, …

• Analysis of key players’ FOPLP technology and strategy

• Fan-Out-on-panel status update: volume and market forecasts 2017 - 2023, player-by-player status and analysis

• Updated market volume, market size, and market forecasts 2017 - 2023

KEY FEATURES• Market forecasts in volume (units

and wafers) and revenue, split by application and end-market

• Drivers and challenges for Fan-Out packaging

• Product/technology description and analysis, by player

• Fan-Out-on-panel status, evolution, and technology roadmap

• Detailed supply chain explanation• Commercialization status with

strategy analysis, by player• Analysis of Fan-Out potential

and penetration rationales, by application

(Yole Développement, January 2019)

FAN-OUT PACKAGING: BUSINESS MODEL EVOLUTION

Currently, all key OSAT/foundry/IDM players have Fan-Out packaging solutions in the market. The Fan-Out landscape remains dynamic, with more opportunities to maximize performance at a lower cost - hence the adoption of Fan-Out by various business models. In a mega-trends-driven era, Fan-Out platforms are increasingly viewed as one of the top options amongst leading package technologies.

In 2015, the Fan-Out market was small and consisted mostly of standard devices like Baseband (BB), RF, and Power Management Unit (PMU). But after TSMC’s 2016 game-changer with inFO for Apple’s iPhone APE, market value increased 3.5x by 2017. Thus the HD FO market segment was created, reducing the market-share ratio of OSATs.

inFO-AP

inFO-oS

inFO-AiP

inFO-MS

PotentialEnd-Customers*

PotentialEnd-Customers*

PotentialEnd-Customers*

What’s next?

HD FO

HD FO

HD FO

HD FO

ePLP PoP

HD FOPLP

ePLP PoP

Core FO

HD FO

Core FO

FOPLP

HD FOPLP

FOPLP

Core FO

HD FO

Core FO

TSMC: the HD Fan-Out leader SEMCO: the next biggest Fan-Out contender PTI: potential OSAT leader in Fan-Out

Today

What’s next?

Today

What’s next?

Today

*Potential and non-exhaustive list of companies

Fan-Out packaging: latest milestones and developments

Page 30: Fan-Out Packaging 2019...To evaluate your Fan-Out Packaging technologies’ market potential To position your company in the market To monitor and benchmark your competitors OSATs,

FAN-OUT PACKAGING: TECHNOLOGIES AND MARKET TRENDS 2019

Fan-Out packaging: business model evolutionand total market value from 2015 to 2024

(Yole Développement, January 2019)

100%

$244 M

2015

OSAT only

65%

35%

$847 M

2017

Foundry impact

2019

IDM entry

10%

71%

19%

$3,864 M

2024

FoundryvsIDM

CAGR +51%

CAGR +23%

CAGR +19%

6%

65%

28%

$1,584 M

STRONG GROWTH IN A MARKET THAT IS MORE FRAGMENTED THAN EVER

The core FO market confirmed its stability in 2018, with significant new entrants joining via FOPLP. Although FOWLP players are the default choice due to a long history of established qualifications, mid-end devices may be too costly for FOWLP players. Hence, FOPLP players will emerge as a cost-effective options for the core market’s new demands. We foresee fabless being “spoiled” by FOPLP margins, and beginning to demand the same benefits for existing business. Moving forward, a price war between FOWLP and FOPLP is inevitable.

HD FO growth has never been bigger, due to TSMC possibly doubling its capacity in order to acquire new business in the coming years. Also, SEMCO/

Samsung has already confirmed FOPLP with APE, and it will not be long before this is rolled out in Samsung smartphones to challenge TSMC for Apple’s APE business.

Key fabless players like Qualcomm and MediaTek will continue to push packaging houses for Fan-Out solutions at lower cost, especially in higher-end devices. PTI is the only potential option for achieving this, and in the process could reach a new milestone with high-end memory Fan-Out packaging. This being said, it will be hard to achieve and hence may only materialize much later, in 2022.

Will Fan-Out packaging continue to cannibalize and put flip-chip, advanced substrate, and interposer

Since then, SEMCO/Samsung (IDM) has joined the Fan-Out packaging market as a new entrant and expanded it into the consumer market. Moving forward, TSMC is betting on inFO to secure new high-end packaging projects in mobile, HPC, and networking. While SEMCO/Samsung continues to gain ground on TSMC in the HD FO market and generate value in core FO, OSATs will keep competing for business - but under price pressure from fabless. In this scenario, PTI may emerge as a Fan-Out packaging leader due to

FOPLP’s cost-effectiveness and a possible HD FOPLP breakthrough for multi-die with logic + memory, etc.

Fan-Out packaging market value is expected to grow at a 19% CAGR from 2019 - 2024, reaching a market size of $3.8B. Meanwhile, the love-hate relationships and politics surrounding OSATs, IDMs, and foundries will continue to unfold. Any big change in Fan-Out strategy will have a ripple effect on the entire supply chain.

Fan-Out packaging landscape: business model evolution

(Yole Développement, January 2019)

HD Fan-Out: high-end to high-performance devices

2018$981 M

$487 M$495 M

$1,423 MCAGR +19%

$2,442 MCAGR +30%

2024$3,864 M

Total Fan-Out market valueCAGR +25%

Core Fan-Out: low-end to mid-end devices

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MARKET & TECHNOLOGY REPORT

COMPANIES CITED IN THE REPORT (non exhaustive list)3D-Plus, 3M, AGC, Amkor, Analog Devices, Akrometrix, Apple, Applied Materials, ASE, ASM, A*Star, Aurora Semiconductors, Besi, Boschmann, Brewer Science, Broadcom, Bosch, Camtek, Corning, Dialog Semiconductor, Dow, Evatec, EVGroup, Fico Molding, Freescale (NXP), Fujifilm, HD Microsystems, Henkel, Hi Silicon, Huawei, Huatian, Hitachi Chemicals, Hoya, Ibiden, IME, Infineon, Intel, ITRI, JSR, Lintec, Mediatek, Medtronic, Mitsui Chemicals, Nagase ChemteX, Nanium (Amkor), Nanometrics, Nepes, Nitto Denko, Nokia, NXP, Plan Optik AG, Oerlikon (Evatec), Platform Specialty Products PTI, Qualcomm, Rudolph Technologies, Samsung, SEMCO, Semsysco, SEMPRIUS, Shinko Electric, SPIL, STATSChipPAC (JCET), STMicroelectronics, Schott, Screen, SPTS Technologies (Orbotech), Shin-Etsu, Sumitomo, SÜSS MicroTec AG, TEL-NEXX, TSMC, TOK, Toray Chemical, Towa, Unimicron, UnitySC, Ultratech, ULVAC, Ushio, UTAC, Yamada, and more...

Find more details about

this report here:

RELATED REPORTSBenef i t f rom our Bundle & Annual Subscription offers and access our analyses at the best available price and with great advantages

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Dies & Interconnects, Substrate Like PCB Trends

• Samsung Exynos 9110 with ePLP: First Generation of Samsung’s Fan-Out Panel Level Packaging

Find all our reports on www.i-micronews.com

Favier Shoo i s a Technology and Market Analyst in the Semiconductor & Software division at Yole Développement, part of Yole Group of Companies. Favier is engaged in the development of technology & market reports as well as the production of custom consulting. After spending 7 years at Applied Materials as a Customer-Application-Technologist in advanced packaging marketspace, Favier had developed a deep understanding of the supply chain and core business values. Being knowledgeable in this field, Favier had given trainings and held numerous technical review sessions with industry players. In addition, he had obtained 2 patents. Prior to that, Favier had worked at REC Solar as a Manufacturing Engineer to maximize production capacity. Favier holds a Bachelor in Mater ials Engineer ing (Hons) and a Minor in Entrepreneurship from Nanyang Technological University (NTU) (Singapore). Favier was also the co-founder of a startup company where he formulated business goals, revenue models and marketing plans.

AUTHOR

Introduction 5> Report scope and objectives> Companies cited in this report> Glossary

What’s new since our last report? 11

Executive summary 17

Advanced packaging trends 62

Overview of FO packaging 80> FO - introduction and package-level definition> Drivers - differentiation and benefits

Cost analysis 103

> Different types of FO, comparaison with other

packages and yield-cost

Technologies and products 116> Segmentation> Fan-Out packaging technologies: available and

expected> Technology roadmaps> Challenges and limitations

Fan-Out panel-level packaging 214

> Panel trends and motivations> Reality of panel penetration

Supply chain status and analysis 232

> Players and their positioning within the supply chain

> Activity and progression: Business model evolution and positioning of key players

Commercialization status and analysis 256

> Product types, and markets of interest> Which type of Fan-Out for which application?> Stories on manufacturing capabilities and

opportunities and challenges

Market value and forecasts 313> Revenue (per end-market, per application)> Volume (in wafers and packages)

Conclusions 329

Appendix/Company presentation 334

TABLE OF CONTENTS (complete content on i-Micronews.com)

OBJECTIVES OF THE REPORT• Identify and describe technologies classifiable as “Fan-Out”• Update the business status of Fan-Out technology markets• Analyze, by application, the key market drivers, benefits, and challenges for Fan-Out packages • Describe the different existing technologies, including their trends and roadmaps• Review the Fan-Out supply chain and landscape• Provide a market forecast for the coming years, and a prediction of future trends

manufacturers out of business? Fan-Out packaging’s key benefit is the ability to integrate dies together flexibly, and at thinner dimensions. Fan-Out can displace 2.5D interposers with fine L/S Fan-Out packaging on substrate. It can also

displace flip-chip and advanced substrate. Such is the potential of Fan-Out packaging technology, and it is already underway in the APE business via TSMC’s inFO-APE and SEMO’s FOPLP.

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OUR 2019 REPORTS COLLECTION (1/5)18 fields of excellence combined with six markets to provide a complete picture of your industry landscape

MEMS & SENSORS

o MARKET AND TECHNOLOGY REPORT

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• Status of the Microfluidics Industry 2019 - Update

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• Neurotechnologies and Brain Computer Interface 2018

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in Automotive Applications 2019 - New

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• Status of the Memory Business 2019 - New

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o STRUCTURE, PROCESS & COST REPORT

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ADVANCED PACKAGING

o MARKET ANDTECHNOLOGY REPORT

• Fan Out Packaging Technologies and Market Trends 2019 - Update

• 3D TSV Integration and Monolithic Business Update 2019 - Update

• Advanced RF SiP for Cellphones 2019 - Update

• Status of Advanced Packaging 2019 - Update

• Status of Advanced Substrates 2019 - Update

• Panel Level Packaging Trends 2019 - Update

• RF System-in-Package & Materials for 5G 2019 - New

• System in Package (SiP) Technology and Market Trends 2019 - New

• Trends in Automotive Packaging 2018

• Thin-Film Integrated Passive Devices 2018

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• Advanced RF SiP for Cellphones Comparison 2019

Update : 2018 version still available

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• Nano Imprint Lithography 2019 - New

• Equipment and Materials for Fan Out Packaging 2019 - Update

• Equipment for More than Moore: Thin Film Deposition

& Etching 2019 - New

• Wafer Starts for More Than Moore Applications 2018

• Polymeric Materials at Wafer-Level

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• Bonding and Lithography Equipment Market

for More than Moore Devices 2018

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• Wafer Bonding Comparison 2018

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• Hybrid Bonding for 3D Stack 2019 – New

SOLID STATE LIGHTING

o MARKET ANDTECHNOLOGY REPORT

• Status of the Solid State Light Source Industry 2019 - New

• Edge Emitting Lasers (EELS) 2019 - New

• Light Shaping Technologies 2019 - New

• Automotive Advanced Front Lighting Systems 2019 - New

• VCSELs - Technology, Industry and Market Trends 2019 - Update

• IR LEDs and Laser Diodes – Technology, Applications,

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• Automotive Lighting 2018: Technology, Industry and Market Trends

• UV LEDs - Technology, Manufacturing and Application Trends 2018

• LiFi: Technology, Industry and Market Trends 2018

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DISPLAY

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• Next Generation 3D Display 2019 - New

• Next Generation Human Machine Interaction (HMI)in Displays 2019 - New

• Micro-and Mini-LED Displays 2019 - Update

• QD and Wide Color gamut (WCG)

Display Technologies 2019 - Update

• Displays & OpticalVision Systems forVR,AR & MR 2018

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• MicroLED Displays : Intellectual Property Landscape 2018

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POWER ELECTRONICS

o MARKET ANDTECHNOLOGY REPORT

• Power SiC: Materials, Devices and Applications 2019 - Update

• Power Electronics for EV/HEV and e-mobility:

Market, Innovations and Trends 2019 - Update

• Status of the Power Electronics Industry 2019 - Update

• Discrete Power Packaging : Material Market

and Technology Trends 2019 - New

• Status of the Power ICs Industry 2019 - Update

• Status of the Passive Components for the Power Electronics

Industry 2019 - Update

• Status of the Inverter Industry 2019 - Update

• Status of the Power Module Packaging Industry 2019 - Update

• Wireless Charging Market Expectations

and Technology Trends 2018

• Power GaN 2018: Epitaxy, Devices, Applications

and Technology Trends

o STRUCTURE, PROCESS & COST REPORT

• Automotive Power Module Packaging Comparison 2018

• GaN-on-Silicon Transistor Comparison 2019

• SiC Transistor Comparison 2019

o PATENT REPORT

• Power SiC : Materials, Devices and Modules 2019 - New

• Power GaN : Materials, Devices and Modules 2019 – Update

BATTERY & ENERGY MANAGEMENT

o MARKET ANDTECHNOLOGY REPORT

• Status of the Rechargeable Li-ion Battery Industry 2019 - New

• Li-ion Battery Packs for Automotive and Stationary Storage

Applications 2019 - Update

o PATENT REPORT

• Battery Energy Density Increase: Materials

and Emerging Technologies 2019 - New

• Solid-State Batteries 2019 - New

• Status of the Battery Patents 2018

COMPOUND SEMI.

o MARKET ANDTECHNOLOGY REPORT

• Emerging Compound Semiconductor

Market & Technology Trends 2019 - New

• Status of the Compound Semiconductor Industry 2019 - New

• InP Materials, Devices and Applications 2019 - New

• GaAs Wafer and Epiwafer Market: RF, Photonics,

LED and PV Applications 2018

o PATENT REPORT

• GaN-on-Silicon Substrate: Materials, Devices

and Applications 2019 - Update

Update : 2018 version still available

Page 48: Fan-Out Packaging 2019...To evaluate your Fan-Out Packaging technologies’ market potential To position your company in the market To monitor and benchmark your competitors OSATs,

16©2019 | www.yole.fr | About Yole Développement

OUR 2019 MONITORS COLLECTION (1/2)

Get the most updated overview of your market to monitor your strategy

Yole Développement, System Plus Consulting and KnowMade, all part of the Yole Group of Companies, are launching a collection of 10 monitors in 2019. The monitors aim to

provide updated market, technology and patent data as well dedicated quarterly analyses of the evolution in your industry over the previous 12 months. Furthermore, you can

benefit from direct access to the analyst for an on-demand Q&A and discussion session regarding trend analyses, forecasts and breaking news.

Topics covered will be compact camera modules (CCMs), advanced packaging, compound semiconductors, microfluidics, batteries, RF and memory.

MARKET MONITOR byYole Développement

A FULL PACKAGE:The monitors will provide the evolution of the market in units, wafer area and revenues.They will also offer insights into what is driving the business and a close look at what ishappening will also be covered in it.

The following deliverables will be included in the monitors:

• An Excel database with all historical and forecast data

• A PDF slide deck with graphs and comments/analyses covering the expected

evolutions

o ADVANCED PACKAGING – NEWThis monitor will provide the evolution of the advanced packaging platforms. It willcover Fan-Out Wafer Level Packaging (WLP), Fan-Out Panel Level Packaging (PLP),Wafer-Level Chip Scale Packaging (WLCSP), Flip Chip packaging platforms, and 2.5Dand 3D Through Silicon Via (TSV) integration. Frequency: Quarterly, starting from Q32019

o COMPOUND SEMI. – NEWThis monitor will describe how the compound semiconductor industry is evolving. Itwill offer a close look at GaAs, InP, SiC, GaN and other compounds of interestproviding wafer volumes, revenues, application breakdowns and momentum.Frequency: Quarterly, starting from Q3 2019

o CAMERA MODULE – NEWThis monitor will provide the evolution of the imaging industry, with a close look atimage sensor, camera module, lens and VCM. Volumes, revenues and momentum ofcompanies like Sony, Samsung, Omnivision and OnSemi will thus be analysed.Frequency: Quarterly, starting from Q3 2019

o MEMORY – UPDATEFor the memory industry you can have access to a quaterly monitor, as well as anadditional service, a monthly pricing. Both services can be bought seprately:

• DRAM Service: Including a quarterly monitor and monthly pricing.

• NAND Service: Including a quarterly monitor and monthly pricing.

REVERSETECHNOLOGY MONITOR by System Plus Consulting

o SMARTPHONES – NEWTo stay updated on the latest components, packaging and silicon chip choices of the smartphone makers, System Plus Consulting has created its first Smartphone ReverseTechnology monitor. This year, get access to the packaging and silicon content database of at least 20 different flagship smartphones – more than five per quarter. Starting at thebeginning of 2019, the monitor will include an Excel database report for each phone and a quarterly comparison.

Page 49: Fan-Out Packaging 2019...To evaluate your Fan-Out Packaging technologies’ market potential To position your company in the market To monitor and benchmark your competitors OSATs,

17©2019 | www.yole.fr | About Yole Développement

OUR 2019 MONITORS COLLECTION (2/2)

Get the most updated overview of your market to monitor your strategy

PATENT MONITOR by KnowMade

A FULL PACKAGE:Starting at the beginning of the year, the KnowMade monitors include the following deliverables:

• An Excel file including the monthly IP database of:

• New patent applications

• Newly granted patents

• Expired or abandoned patents

• Transfer of IP rights through re-assignment and licensing

• Patent litigation and opposition

• Quarterly report including a PDF slide deck with the key facts & figures of thequarter: IP trends over the three last months, with a close look to key IP players andkey patented technologies.

o GaN for Power & RF ElectronicsWafers and epiwafers, GaN-on-SiC, silicon, sapphire or diamond, semiconductordevices such as transistors, and diodes, devices and applications including converters,rectifiers, switches, amplifiers, filters, and Monolothic Microwave Integrated Circuits(MMICs), packaging, modules and systems.

o GaN for Optoelectronics & PhotonicsWafers and epiwafers, GaN-on-sapphire, SiC or silicon; semiconductor devices suchas LEDs and lasers; and applications including lighting, display, visible communication,photonics, packaging, modules and systems.

o Li-ion BatteriesAnodes made of lithium metal, silicon, and lithium titanate (LTO); cathodes made ofLithium Iron Phosphate (LFP), Nickel-Manganese-Cobalt (NMC), Lithium NickelCobalt Aluminium Oxide (NCA), Lithium Nickel Metal Dioxide (LiNiMO2), LithiumMetal Phosphate (LiMPO4), and Lithium Metal Tetroxide (LiMO4); electrolytesincluding liquid, polymer/gel, and solid inorganics; ceramic and other separators;battery cells including thin film/microbattery, flexible, cylindrical and prismatic; andbattery packs and systems.

o Post Li-ion BatteriesBattery technologies including redox-flow batteries, sodium-ion, lithiumsulfur, lithium-air, and magnesium-ion, and their supply chains, including electrodes, electrolytes,battery cells and battery packs/systems.

o Solid-State BatteriesSupply chain including electrodes, battery cells, battery packs/systems andelectrolytes, including polymer, inorganic and inorganic/polymer, inorganic materials,including argyrodites, LIthium Super Ionic CONductor, (LISICONs), Thio-LISICONs,sulfide glasses, oxide glasses, perovskites, anti-perovskites and garnets.

o RF Acoustic Wave FiltersIncluding Surface Acoustic Wave (SAW), Temperature Compensated (TC)- SAW, BulkAcoustic Wave- Free-standing Bulk Acoustic Resonator (BAWFBAR), BAW-Solidly-Mounted Resonator (BAW-SMR), and Packaging.

o RF Power AmplifiersIncluding Low Noise Amplifiers, Doherty Amplifiers, Packaging, and Millimeter-Wavetechnology.

o RF Front-End Modules

o MicrofluidicsFrom components to chips and systems, including all applications.

Page 50: Fan-Out Packaging 2019...To evaluate your Fan-Out Packaging technologies’ market potential To position your company in the market To monitor and benchmark your competitors OSATs,

18©2019 | www.yole.fr | About Yole Développement

MICRONEWS MEDIA

o About Micronews Media

To meet the growing demand for market,

technological and business information,

Micronews Media integrates several tools able

to reach each individual contact within its

network.We will ensure you benefit from this.

ONLINE ONSITE INPERSON

@Micronews e-newsletter

i-Micronews.com

i-Micronewsjp.com

FreeFullPDF.com

Events Webcasts

Unique, cost-effective ways

to reach global audiences.

Online display advertising

campaigns are great strategies

for improving your

product/brand visibility. They

are also an efficient way to

adapt with the demands of the

times and to evolve an effective

marketing plan and strategy.

Brand visibility, networking

opportunities

Today's technology makes it

easy for us to communicate

regularly, quickly, and

inexpensively – but when

understanding each other is

critical, there is no substitute

for meeting in-person. Events

are the best way to exchange

ideas with your customers,

partners, prospects while

increasing your brand/product

visibility.

Targeted audience

involvement equals clear,

concise perception of your

company’s message.

Webcasts are a smart,

innovative way of

communicating to a wider

targeted audience. Webcasts

create very useful, dynamic

reference material for

attendees and also for

absentees, thanks to the

recording technology.

Benefit from the i-Micronews.com

traffic generated by the 11,200+

monthly unique visitors, the

10,500+ weekly readers of

@Micronews e-newsletter

Several key events planned for

2018 on different topics to

attract 120 attendees on average

Gain new leads for your business

from an average of 340

registrants per webcast

Contact: Camille Veyrier ([email protected]), Marketing & Communication Director

Page 51: Fan-Out Packaging 2019...To evaluate your Fan-Out Packaging technologies’ market potential To position your company in the market To monitor and benchmark your competitors OSATs,

19©2019 | www.yole.fr | About Yole Développement

CONTACT INFORMATION

o CONSULTING AND SPECIFIC ANALYSIS, REPORT

BUSINESS

• North America:

• Steve LaFerriere, Senior Sales Director for Western US &

Canada

Email: [email protected] – + 1 310 600-8267

• Troy Blanchette, Senior Sales Director for Eastern US &

Canada

Email: [email protected] – +1 704 859-0453

• Japan & Rest of Asia:

• Takashi Onozawa, General Manager, Asia Business

Development (India & ROA)

Email: [email protected] - +81 34405-9204

• Miho Othake, Account Manager (Japan)

Email: [email protected] - +81 3 4405 9204

• Itsuyo Oshiba, Account Manager (Korea & Singapore)

Email: [email protected] - +81-80-3577-3042

• Greater China: Mavis Wang, Director of Greater China Business

Development

Email: [email protected] - +886 979 336 809

• Europe: Lizzie Levenez, EMEA Business Development Manager

Email: [email protected] - +49 15 123 544 182

• RoW: Jean-Christophe Eloy, CEO & President, Yole Développement

Email [email protected] - +33 4 72 83 01 80

o FINANCIAL SERVICES (in partnership with Woodside

Capital Partners)

• Jean-Christophe Eloy, CEO & President

Email: [email protected] - +33 4 72 83 01 80

• Ivan Donaldson, VP of Financial Market Development

Email: [email protected] - +1 208 850 3914

o CUSTOM PROJECT SERVICES

• Jérome Azémar, Technical Project Development Director

Email: [email protected] - +33 6 27 68 69 33

o GENERAL

• Camille Veyrier, Director, Marketing & Communication

Email: [email protected] - +33 472 83 01 01

• Sandrine Leroy, Director, Public Relations

Email: [email protected] - +33 4 72 83 01 89 / +33 6 33 11 61 55

• Email: [email protected] - +33 4 72 83 01 80

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