GPU CoWoS 패키징 시장 : 점유율 분석, 업계 동향 및 통계, 성장 예측(2026-2031년)

According to Mordor Intelligence, the GPU coWoS packaging market size is expected to increase from USD 8.66 billion in 2025 to USD 13.21 billion in 2026 and reach USD 32.05 billion by 2031, growing at a CAGR of 19.39% over 2026-2031.

This report is Segmented by CoWoS Packaging Platform (CoWoS-S, and More), GPU Workload (AI Training GPUs, AI Inference GPUs, and More), GPU Integration Architecture (Single-Die GPU With HBM, Multi-Die/Chiplet GPU With HBM, and More), End User (Hyperscalers and Cloud Providers, Enterprise and Private-Cloud Data Centers, and More), and Geography. The Market Forecasts are Provided in Terms of Value (USD).

Global GPU CoWoS Packaging Market Trends and Insights

Rapid Proliferation Of Generative AI Workloads

Generative AI model development has moved to a scale where memory bandwidth and system-level integration now matter as much as raw compute throughput, which is why the GPU CoWoS packaging market is tied so closely to frontier AI hardware rollouts. NVIDIA announced the Vera Rubin platform in March 2026 and described a production system built around seven chips with CoWoS-L packaging, which showed that large AI racks are now designed with advanced packaging as a core architectural layer rather than a back-end assembly choice. NVIDIA then confirmed in June 2026 that Vera Rubin had ramped into full production with support from around 150 Taiwan-based supply-chain partners, which points to how broad the manufacturing footprint has become around a single AI platform generation. The same June 2026 disclosure also linked the platform to global AI factory deployments, which reinforces that the GPU CoWoS packaging market is expanding because hyperscaler and cloud demand now depends on complex packaged systems at rack scale rather than only on chip launches. As a result, the commercial timing of new AI infrastructure is increasingly shaped by packaging readiness, supplier coordination, and package-level manufacturing depth, which gives advanced packaging providers more influence over delivery cycles than they held in earlier semiconductor demand waves.

Escalating HBM Stack Counts Per GPU Package

The GPU CoWoS packaging market is also being boosted by a clear rise in HBM content per package, as each additional stack increases package complexity, interposer usage, and assembly value per accelerator. AMD stated at its Advancing AI 2025 event that the MI400 family uses CoWoS-L packaging and a more advanced rack-scale configuration, while NVIDIA and SK Hynix outlined HBM4-linked platform plans for 2026, indicating that memory and packaging roadmaps are now tightly connected across the value chain. SK Hynix said in 2026 that HBM remains the center of the memory upcycle, and its February 2026 HBM4 mass production start supports the view that high-bandwidth memory is becoming a direct driver of advanced packaging demand rather than a separate component trend. TSMC's CoWoS platform is designed to connect logic die and HBM through dense 2.5D integration, so rising memory stack counts naturally increase the commercial weight of packaging in the final bill of materials and in total platform performance. This means the GPU CoWoS packaging market is benefiting not only from more GPUs being built, but also from more packaging content being embedded in each shipped accelerator package. It also means that scheduling dependencies are becoming deeper, because the pace of memory ramp, base-die availability, and package qualification now affects how quickly next-generation AI systems can move into wide deployment.

Limited Foundry Capacity For Very Large Interposers

The GPU CoWoS packaging market remains constrained by the difficulty of scaling very large interposers and large package formats at the speed now demanded by AI system launches. TSMC's official CoWoS documentation shows that the platform is designed for high-performance integration, but the same high-density routing and large-area assembly features that make it valuable also make expansion more difficult than in standard packaging lines. TSMC's 3DFabric high-performance computing platform highlights the need for advanced wafer-level and system-level integration steps, which means supply growth requires more than incremental backend capacity and depends on specialized packaging ecosystems. Intel's competing 2.5D and 3D packaging briefs also underline how technically demanding large-die and high-bandwidth memory integration has become across the wider industry, which shows that this is a structural constraint rather than a single-company issue. This keeps the GPU CoWoS packaging market supply-led in the near term, because each new platform generation requires more advanced area, tighter tolerances, and more coordinated manufacturing steps than the last one. It also limits how quickly smaller customers can access frontier packaging flows when anchor demand already occupies the most advanced capacity.

Other drivers and restraints analyzed in the detailed report include:

1. Transition Toward Chiplet-Based GPU Architectures
2. Mainstream Adoption Of 2.5D Packages In Networking ASICs
3. High Build-Up Substrate Costs Offsetting Savings

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

Segment Analysis

CoWoS-S held 58.78% of the GPU CoWoS packaging market share in 2025, while CoWoS-L is projected to expand at a 19.71% CAGR through 2031. CoWoS-S remained the anchor platform because it was already established across NVIDIA H100- and AMD MI300-era deployments, giving the GPU CoWoS packaging market a large installed base entering 2026. That installed base matters because existing production programs, validated board designs, and known thermal behavior still make CoWoS-S practical for many current cloud and accelerator deployments even as new packages become larger. TSMC's CoWoS technology documentation shows that the platform was designed to support dense chip-on-wafer-on-substrate integration for high-performance applications, which explains why the GPU CoWoS packaging market still relies on CoWoS-S to meet a broad portion of active demand. TSMC's broader high-performance computing packaging documentation also supports the continued role of CoWoS-S within an ecosystem that now includes several integration options rather than a single one-size-fits-all route.

CoWoS-L is projected to expand at a 19.71% CAGR through 2031, which shows where future package scaling is moving inside the GPU CoWoS packaging market. NVIDIA's Rubin platform and Broadcom's 3.5D XDSiP shipments both point to a design direction that depends on larger integration scale, higher HBM density, and more flexible package layouts than classic silicon interposer formats can always support economically. TSMC's IEDM 2024 presentation outlined a path toward much larger CoWoS package configurations, which supports the case that future scale gains in the GPU CoWoS packaging market will come from packaging variants that can handle larger multi-die systems more efficiently. The practical advantage is not only more area, it is also better alignment with the way AI GPUs are now being partitioned across compute dies, I/O structures, and HBM attachments. As that design approach becomes standard, CoWoS-L is likely to capture a larger share of forward demand even while CoWoS-S continues to serve a meaningful installed base.

AI Training GPUs accounted for 60.19% of the GPU CoWoS packaging market size in 2025, while AI Inference GPUs are projected to expand at a 19.88% CAGR through 2031. Training led the GPU CoWoS packaging market because hyperscalers continued to fund large-model pretraining clusters, and those systems still demand the highest memory bandwidth and package complexity in current deployments. NVIDIA's March 2026 and June 2026 Rubin disclosures tied advanced CoWoS-L packaged systems to early deployments at AWS, Google Cloud, Microsoft, and CoreWeave, which confirms that training-class and large-scale AI infrastructure remain the main engine of current demand. That concentration has kept packaging suppliers focused on high-throughput cloud programs where volume, validation depth, and product visibility are strongest. It has also reinforced the role of frontier GPU roadmaps in determining how the GPU CoWoS packaging market allocates its most advanced capacity.

AI Inference GPUs are projected to grow at the fastest 19.88% CAGR through 2031, which signals a broader shift in the GPU CoWoS packaging market from model creation alone toward model deployment at production scale. AMD's 2025 event disclosures around the MI400 rack family show that future AI systems are being designed for both training and inference at much larger memory capacity and system density, which narrows the old packaging gap between training-oriented and inference-oriented products. As inference models become larger and serve more users in real time, packaging demands move closer to training-class requirements, especially when memory bandwidth and latency consistency matter across large deployments. This is important because it expands the addressable base for advanced packaging beyond a narrow set of flagship training clusters. It also means the GPU CoWoS packaging market may see more demand from enterprise and service-provider inference systems that still require large HBM footprints and high-end integration formats. Over time, that changes the workload mix from a training-dominant profile to a more balanced pattern where inference contributes a larger share of premium package demand.

Complete Report Scope:

• By CoWoS Packaging Platform
  • CoWoS-S
  • CoWoS-L
  • CoWoS-R
• By GPU Workload
  • AI Training GPUs
  • AI Inference GPUs
  • HPC and Scientific Computing GPUs
  • Other Data Center GPU Workloads
• By GPU Integration Architecture
  • Single-Die GPU with HBM
  • Multi-Die/Chiplet GPU with HBM
  • 3D-Enhanced GPU Systems Using CoWoS and SoIC
• By End User
  • Hyperscalers and Cloud Providers
  • Enterprise and Private-Cloud Data Centers
  • Research, Academic, and Government AI/HPC Centers
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • Europe
    • Germany
    • United Kingdom
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • South Korea
    • India
    • Southeast Asia
    • Australia
    • Rest of Asia-Pacific
  • South America
  • Middle East and Africa

Geography Analysis

North America held 59.27% share of the GPU CoWoS packaging market size in 2025, which reflected the concentration of hyperscaler AI infrastructure spending in the region. NVIDIA identified AWS, Google Cloud, Microsoft, and CoreWeave as first deployment partners for Vera Rubin systems, which supports North America's lead because those companies remain central buyers of high-end AI compute capacity. The U.S. Department of Commerce announced USD 1.4 billion in final awards in January 2025 for next-generation advanced packaging support, which gave the region a stronger institutional base for future domestic capability. NIST also opened a funding competition of up to USD 1.6 billion for advanced packaging technologies, which shows that public support has moved beyond policy language into active program design. TSMC and Amkor announced a long-term partnership in Arizona in June 2026, and that agreement gives the GPU CoWoS packaging market a credible path toward a more integrated U.S. packaging chain over the next several years.

Asia-Pacific is projected to expand at a 20.16% CAGR through 2031, which makes it the fastest-growing regional block in the GPU CoWoS packaging market. Taiwan remains the production center because TSMC owns the core CoWoS platform and positions its 3DFabric stack as a high-performance computing integration base for advanced logic and memory combinations. South Korea adds major support through HBM4 ramp activity, and SK Hynix's 2026 outlook and production progress make clear that memory leadership is now a direct regional advantage for advanced package demand. The region's strength comes from how foundry, memory, assembly, and component ecosystems sit close together, which lets the GPU CoWoS packaging market scale faster there than in regions still building end-to-end capability.

Europe, South America, and the Middle East and Africa make up the remaining share of the GPU CoWoS packaging market, and each region sits at a different stage of AI infrastructure maturity. Europe continues to benefit from research computing demand, enterprise deployment needs, and hyperscaler data center expansion, even though the region does not yet lead in CoWoS manufacturing capacity. South America remains smaller, but cloud expansion is still creating a route for advanced packaged GPU hardware to enter local data center footprints through global procurement networks. The Middle East and Africa is smaller today, but sovereign AI buildouts and state-backed compute ambitions could support stronger demand later in the forecast period as project execution deepens.

1. Taiwan Semiconductor Manufacturing Company Limited
2. Samsung Electronics Co., Ltd.
3. ASE Technology Holding Co., Ltd.
4. Amkor Technology, Inc.
5. Intel Corporation
6. NVIDIA Corporation
7. Advanced Micro Devices, Inc.
8. Broadcom Inc.
9. Marvell Technology, Inc.
10. SK hynix Inc.
11. Micron Technology, Inc.
12. Powertech Technology Inc.
13. United Microelectronics Corporation
14. Chipbond Technology Corporation
15. JCET Group Co., Ltd.
16. Tongfu Microelectronics Co., Ltd.
17. Jiangsu Changjiang Electronics Technology Co., Ltd.
18. Siliconware Precision Industries Co., Ltd.
19. Ibiden Co., Ltd.
20. Unimicron Technology Corp.
21. Deca Technologies, Inc.
22. Nepes Corporation

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 Rapid Proliferation of Generative AI Workloads
  • 4.2.2 Escalating HBM Stack Counts per GPU Package
  • 4.2.3 Transition Toward Chiplet-Based GPU Architectures
  • 4.2.4 Mainstream Adoption of 2.5D Packages in Networking ASICs
  • 4.2.5 Government Funding for Advanced Packaging Capacity Expansion
  • 4.2.6 Yield Improvements in Wafer-Level Interconnect Formation
• 4.3 Market Restraints
  • 4.3.1 Limited Foundry Capacity for Very Large Interposers
  • 4.3.2 High Build-Up Substrate Costs Offsetting Savings
  • 4.3.3 Reliability Concerns in Large-Area Passive Silicon
  • 4.3.4 Complex Thermal Management for Tiled GPU Dies
• 4.4 Industry Value Chain Analysis
• 4.5 Regulatory Landscape
• 4.6 Technological Outlook
• 4.7 Impact of Macroeconomic Factors on the Market
• 4.8 Porter's Five Forces Analysis
  • 4.8.1 Bargaining Power of Buyers
  • 4.8.2 Bargaining Power of Suppliers
  • 4.8.3 Threat of New Entrants
  • 4.8.4 Threat of Substitutes
  • 4.8.5 Intensity of Competitive Rivalry

5 MARKET SIZE AND GROWTH FORECASTS (VALUE)

• 5.1 By CoWoS Packaging Platform
  • 5.1.1 CoWoS-S
  • 5.1.2 CoWoS-L
  • 5.1.3 CoWoS-R
• 5.2 By GPU Workload
  • 5.2.1 AI Training GPUs
  • 5.2.2 AI Inference GPUs
  • 5.2.3 HPC and Scientific Computing GPUs
  • 5.2.4 Other Data Center GPU Workloads
• 5.3 By GPU Integration Architecture
  • 5.3.1 Single-Die GPU with HBM
  • 5.3.2 Multi-Die/Chiplet GPU with HBM
  • 5.3.3 3D-Enhanced GPU Systems Using CoWoS and SoIC
• 5.4 By End User
  • 5.4.1 Hyperscalers and Cloud Providers
  • 5.4.2 Enterprise and Private-Cloud Data Centers
  • 5.4.3 Research, Academic, and Government AI/HPC Centers
• 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 Russia
    • 5.5.2.6 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 Australia
    • 5.5.3.7 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 Share 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 Taiwan Semiconductor Manufacturing Company Limited
  • 6.4.2 Samsung Electronics Co., Ltd.
  • 6.4.3 ASE Technology Holding Co., Ltd.
  • 6.4.4 Amkor Technology, Inc.
  • 6.4.5 Intel Corporation
  • 6.4.6 NVIDIA Corporation
  • 6.4.7 Advanced Micro Devices, Inc.
  • 6.4.8 Broadcom Inc.
  • 6.4.9 Marvell Technology, Inc.
  • 6.4.10 SK hynix Inc.
  • 6.4.11 Micron Technology, Inc.
  • 6.4.12 Powertech Technology Inc.
  • 6.4.13 United Microelectronics Corporation
  • 6.4.14 Chipbond Technology Corporation
  • 6.4.15 JCET Group Co., Ltd.
  • 6.4.16 Tongfu Microelectronics Co., Ltd.
  • 6.4.17 Jiangsu Changjiang Electronics Technology Co., Ltd.
  • 6.4.18 Siliconware Precision Industries Co., Ltd.
  • 6.4.19 Ibiden Co., Ltd.
  • 6.4.20 Unimicron Technology Corp.
  • 6.4.21 Deca Technologies, Inc.
  • 6.4.22 Nepes Corporation

7 MARKET OPPORTUNITIES AND FUTURE OUTLOOK

• 7.1 White-Space and Unmet-Need Assessment