BE Semiconductor Industries (BESI) CMD 2025 summary

Strategic overview and market trends

• AI expansion and advanced packaging adoption are accelerating, with global investments in new packaging fabs totaling ~$100B and a focus on cloud, edge computing, and shrinking device geometries.

• 70% of equipment revenue comes from advanced packaging, with 50% related to AI and advanced die placement.

• Hybrid bonding and fluxless thermal compression (TC/TCB) are key growth areas, with hybrid bonding expected to be the largest assembly segment by 2030 and the market estimated at €2.1 billion.

• R&D spending is increasing to address complexity in 2.5D/3D modules and next-gen assembly technologies.

• Gross margin targets have been raised for the next five years, reflecting product complexity and supply chain improvements.

Technology and product roadmap / Business developments and technology leadership

• Hybrid bonding is positioned as the leading technology for high-density, energy-efficient interconnects, with cost per interconnect 10x lower than alternatives.

• The first 50-nanometer hybrid bonder will ship by late 2024, with a 25-nanometer generation in development for sub-1 micron bump pitches.

• TC Next/TCB Next machines target the 10–25 micron pitch gap with best-in-class 0.7 micron accuracy and real-time process control, supporting both logic and memory markets.

• Collaborations, such as with Applied Materials, are accelerating hybrid bonding adoption and innovation.

• Major customers like Intel, AMD, Broadcom, and Apple are adopting hybrid bonding and chiplet architectures in new products.

Market outlook and application drivers

• AI, data centers, edge computing, and chiplet architectures are driving demand across computing, automotive, consumer, and photonics markets.

• Hybrid bonding adoption is solidifying, with over 100 bonders installed at 16 customers and a strong pipeline for both logic and memory applications.

• Co-packaged optics and photonics are emerging as significant growth areas, now included in forecasts.

• The mainstream die attach addressable market is expected to more than double by 2030, with strong growth in CoWoS, photonics, mobile, and automotive segments.

• New product introductions in 2025–2026 are set to accelerate growth and increase market share.