PORTLAND, Oregon and PUNE, India, November 17, 2016 /PRNewswire/ -- A new report published by Allied Market Research, titled, "Wafer Level Packaging Market, Opportunities and Forecast, 2014-2022," the global wafer level packaging market is expected to garner $7.8 billion by 2022, growing at a CAGR of 21.5% from 2016 to 2022. In the year 2015, Asia-Pacific dominated the global market and contributed over half of the market share owing to improved electronics industry infrastructure and increasing demand of electronic products such as smartphones, handheld devices, PCs and laptops among others. (Logo: http://photos.prnewswire.com/prnh/20140911/647229 ) Summary of the Wafer Level Packaging Market Report can be accessed on the website at:https://www.alliedmarketresearch.com/press-release/wafer-level-packaging-market.html Wafer level packaging is growing with a notable rate owing to its competitive advantages over other conventional packaging technologies namely wire bonding and flip chip such as compact package footprints, increased functionality, improved thermal performance, and finer pitch interconnection to the printed circuit board. Wafer level packaging (WLP) can be categorized on the basis of integration type and packaging technology used in them. Furthermore, trending Internet of Things (IoT), technological superiority over traditional packaging techniques, and impending need of circuit miniaturization in microelectronic devices are key factors expected to propel the growth of global WLP market. Thriving demand for small sizes, low costs, and high performance of packaging solutions in electronic devices is going to act as an opportunity for wafer level packaging market. In integration type of wafer level packaging, fan-in wafer level packaging (Fan-in WLP) dominated the market in 2015. This was attributed to the small, lightweight, high performance semiconductor solution of Fan-in WLP. However, Fan-out WLP is estimated to witness the higher growth rate in the market owing to its advances such as smaller form factor and thinner packaging with higher input/output (I/O) count along with improved thermal and electrical performance. In addition, it is a compelling, cost-effective solution for space constrained mobile applications and other portable consumer and industrial devices.