|2023 11 22 TMT/AI CPU GPU AI AI GPU HBM Bumping TSV CoWoS EMC PSPI HBM AI CPU GPU CPU AI CPU CPU GPU 8 GPU AI CPU GPU NAND 1 DRAM AI CPU DRAM 2TB GPU 80GB HBM AI HBM 640G 4-8 CPU 5 GPU HBM DDR4 AI DDR5 LPDDR5 2 NAND AI 30TB 2-4 SSD AI SSD 10 HBM AI GPU 2024 HBM High Bandwidth Memory 2.5/3D CPU/GPU DRAM Die Die TSV HBM AI GPU AI HBM 1 AI GPU 2 8 2 GPU HBM Stack HBM1 GPU 4 HBM1 HBM2e HBM3 GPU 6 HBM Stack 3 HBM DRAM HBM1 HBM3 DRAM Die 2Gb 16Gb 4Hi 12Hi HBM 1GB 24GB Trendforce 2025 1700 AI 2%2024 AI 4%AI 8 GPU GPU 6 80GB 100GB HBM Stack 2024 AI HBM AI GPU 2.5D+3D TSV CoWoS HBM GPU 2.5D+3D Yole 2021 HBM Si 14 2027 35 HBM 16.3 18.8 TSV Through-Silicon Via 2.5D%484 9.2 7599.2 9.3 5976.7 8.4%1m 6m 12m 9.3 4.7 3.7 7.3 13.9 8.7 1 2023-11-07 2 23Q3 2024 2023-11-02 3 SK 23Q3 AI HBM 2023-11-01 4 FY23Q4 2024 2023-10-09 5 2023-04-04 S1090511060002 S1090521060001-15-10-505101520Nov/22 Mar/23 Jul/23 Oct/23(%)电子 沪深300AI HBM 2 2.5D TSV AI GPU HBM DRAM Die HBM CoWoS HBM TPU GPU AMD MI300 AI CoWoS 2022 2024 CoWoS HBM 1 HBM TSV HBM KGSD HBM HBM-/DRAM die/HBM 2 HBM GMC LMC GMC HBM FC PSPI RDL HBM Bumping RDL TSV HBM AI AI GPU HBM DRAM NAND HBM SK HBM CoWoS AI HBM 碁 HBM AI 3 1 AI SK Camtek Onto AMAT KLA DISCO SUSS EVG Group BESI TOWA YAMADA ASMPT Cabot 碁&4 AI.9 1 CPU DDR4 SATA/SAS SSD.9 2 AI CPU+GPU.12 3“”2.5/3D 16 HBM AI.19 1 HBM AI.19 2 HBM AI HBM.21 HBM 2.5D+3D TSV CoWoS.26 1 HBM Si Bumping TSV CoWoS.26 2 Bumping/FC.28 3 TSV DRAM Die HBM Interposer.30 4 CoWoS AI GPU AI 2024 CoWoS.33 5 FC die.35 HBM.37 1 Bump TSV KGSD HBM.39 1/Bumping TSV RDL.39 2 KGSD.41 2 8 HBM.43 5 3/45 4 HBM.48 HBM EMC PSPI CXL HBM CPU.50 1 GMC LMC HBM.50 2 HBM TSV 10 52 3 PSPI HBM RDL.53 4 HBM.54 5 CXL CPU HBM.55 HBM HBM.57 1 SK MR-MUF HBM.57 2 I-Cube X-cube 2024 HBM 2.5.59 3 HBM3E HBM Next.61.62 1 AI.62 2 HBM.69 3 AI.76.79 1 NF5280M6.9 2 CPU.10 3 n-bit prefetch.10 4 DRAM.11 5.11 6 6 SSD.11 7 RAID.12 8 RAID 5.12 9 CPU GPU.12 10 Transformer.12 11 AI.13 12 Intel XEON CPU.13 13 DGX H100.13 14.15 15 E5 X86.15 16.17 17 HBM.19 18 HBM3 12 DRAM die.19 19 HBM GDDR.20 20 1GB HBM GDDR5.20 21 GDDR5 HBM.20 22 HBM1 GPU.22 23 DGX A100 GPU.22 24 GH200 Grace Hopper.23 25 GH200 Grace Hopper GPU 480GB LPDDR5X 96GB HBM3 24 26 H200 Grace Hopper.24 27 HBM.27 28 HBM DRAM die.27 29 2021-2027.28 30.28 31.28 32.29 33.30 34 HBM 4 DRAM+1 99.5%.31 35 HBM 4 DRAM+1 99%.31 36 TSV.32 37 TSV via-middle.32 7 38 2.5/3D.33 39 HBM CoWoS.33 40 CoWoS-R.34 41 CoWoS-L.34 42 2021.35 43 BR-100 CoWoS.35 44 FC.36 45.36 46 HBM.37 47.38 48.39 49 2022.40 50.40 51 HBM Bumping.40 52 TSV.41 53 RDL.41 54 DRAM HBM.43 55.44 56 2021-2025.44 57.45 58 W2W.45 59.45 60 D2W.46 61.47 62.48 63.49 64 EMC.50 65 MR-MUF Tj TC-NCF 14.51 66.53 67 CoWoS RDL PSPI.54 68.55 69 CXL.56 8 70 CXL.56 71 HBM.57 72 SK.58 73.59 74 I-Cube S.60 75 I-Cube E.60 76 X-Cube.60 77 X-Cube.60 78 HBM4.60 79 HBM.61 80 Camtek.63 81 2022 Camtek.63 82 Camtek.63 83 BESI.64 84 BESI.65 85 SUSS.66 86 TOWA CPM1080.67 87.69 88 DXI.76 9 AI 1 CPU DDR4 SATA/SAS SSD CPU CPU RAID BMC CPU CPU 1 NF5280M6 CPU CPU CPU CPU CPU CPU 10 CPU 2 CPU 3 n-bit prefetch DRAM CPU DDR4 DDR5 SDRAM CPU SDRAM DDR SDRAM 1 DDR1 DDR3 1bit 8bit DDR3 DDR4 2-4 Bank Group DDR4 2-4 2-4 DDR5 16bit CPU DDR4 AI CPU DDR5 LPDDR5 2 DDR MHz MHz MT/s GB/s V SDRAM 133/166/200 133/166/200 1n 133-166 0.8-1.3 3.3 DDR 133/166/200 133/166/200 2n 266/333/400 2.1-3.2 2.5-2.6 DDR2 133/166/200 266/333/400 4n 533/667/800 4.2-6.4 1.8 DDR3 133/166/200 533/664/800 8n 1066/1333/1600 8.5-14.9 1.35/1.5 DDR4 133/166/200 1066/1333/1600 8n 2133/2666/3200 17-21.3 1.2 DDR5 133/166/200 3200 16n 6400 67.2 1.1 GDDR DDR PC GDDR/GDDR2 GPU GDDR3 GPU GDDR3 4-bit GDDR4 8-bit NVIDIA GDDR5 DQ GDDR5 GDDR PC GPU GDDR 11 4 DRAM CSDN HDD SSD SSD SATA/SAS HDD SSD HDD CPU SSD-SSD AI/5 6 SSD CSDN RAID AI RAID Redundant Array of Independent Disks RAID CPU RAID AI 12 7 RAID 8 RAID 5 CSDN CSDN 2 AI CPU+GPU AI AI 8 GPU chatGPT AI GPT-3 Megatron-Turing NLG 530B CPU CPU CPU CPU CPU GPU CUDA GPU CPU GPU AI GPU AI AI GPU 1-2 CPU GPU AI 8 GPU 9 CPU GPU 10 Transformer CSDN 13 AI GPU CPU CPU AI GPU 4 CPU GPU GPU GPU CPU CPU AI GPU CPU CPU DGX-2 8168 2.7GHz 24 DGX H100 8480C 3.8GHz CPU 56 11 AI 12 Intel XEON CPU CSDN Intel AI CPU/GPU AI GPU CPU DRAM CPU GPU NAND AI 13 DGX H100 14 DRAM AI CPU+GPU/DRAM 3-8 1-2 CPU CPU DDR4 1-2 CPU CPU 10 DDR4 32GB CPU 320GB 640GB CPU NF5280M6 CPU 16 DDR4 32GB 1TB AI CPU 2TB DDR4/DDR5 AI GPU DGX A100 H100 80GB HBM 640GB CPU 320-640GB AI DRAM 4-8 CPU 1TB AI DRAM 2.5-3 NAND AI/NAND 2-4 AI NP5570M5 16 2.5 SAS 4 3.5 SATA SAS 300GB/600GB/1TB/1.2TB/1.8TB/2.4TB SATA 1/2/4/6/8TB 8-16TB NF5280M6 20 3.5 20TB AI 30TB NAND 2-4 3 AI AI AI NF5270M5 NP5570M5 NF5280M6 DGX-2 DGX A100 DGX H100 SXM5 CPU Xeon Silver 4214 Xeon E5-26XX V3 Ice Lake Xeon Platinum 8168 AMD Rome 7742 Xeon Platinum 8480C CPU 1-2 1-2 1-2 2 2 2 CPU 2.2-3.2GHz 2.5GHz 3.6GHz 2.7GHz 3.4GHz 3.8GHz CPU 12 12 40 24 64 56 CPU 24 24 80 48 128 112 CPU DDR4 DDR4 DDR4 DDR4 DDR4 DDR5 16 20 32 32 32 32 2666MT/s 2133MT/s 3200MT/s 2666MHz 3200MHz 2400MHz 1TB 640GB DDR 2TB 2TB 2TB GPU/Tesla V100 A100 H100 GPU/16 8 8 GPU/HBM2 HBM2E HBM3/GPU 4 GPU 6 GPU 6/512GB 640GB 640GB 15 AI AI AI 25 2.5 SAS/SATA/SSD 12 3.5 SAS/SATA/SSD 4 NVMe SSD 2 SAS/SATA/SSD/M.2 SATA SSD 16 2.5 SAS SATA SSD 4 3.5 SATA 20 3.5 39 2.5 NVMe SSD 960GB NVMe SSD 30TB 8*3.84TB NVMe SSD 2 1.92TB NVME SSD 15TB 4*3.84TB NVMe SSD 30TB 2 1.9TB NVMe M.2 SSD 8*3.84TB NVMe U.2 SSD AI GPU GPU 1 IDC CPU x86 E5 CPU 31%28%21%NF5270M5 39000 2 Xeon Silver 4214 CPU 1000 CPU 32%16 32GB DDR4 GB 3 DRAM 26%25 2.5 512GB 1TB SATA 40 20%2 AI DGX A100 19.5 2 AMD Rome 7742 7000 7%8 A100 GPU GPU 1-1.5 GPU 40-50%CPU 2TB DDR4 3-4%GPU 640GB HBM2E GB 15-20 5-8%2 1.9TB SSD 8 3.84TB SSD 1 1.92TB SSD 650 1 3.84TB SSD 1200 6%AI CPU SSD 5 GPU 14 15 E5 X86 IDC 0%10%20%30%40%50%60%70%80%90%100%CPU GPU 31%28%21%8%7%5%CPU RAID+16 4 AI NF5270M5 DGX A100 39000 5700 195000 34x CPU 2000 14000 7x CPU 32%7%GPU/80000120000/GPU/4060%CPU-1500 7000 5x 26%4%GPU-/15000/8%HDD/SSD 1000 10000 10 x 20%6%CF AMD Intel AI AI 3 2.5/3D-CPU CPU 1-2 DRAM 50-100 1 2.5/3D 2.5/3D High Bandwidth Memory HBM TSV 2 In-Storage Computing ISC FPGA ARM CPU In-Memory Computing IMC HBM-PIM PIM-DIMM DRAM die AI 17 16 RRAM MRAM SRAM NOR Flash Resistive Random Access Memory RRAM Magnetoresistive Random Access Memory MRAM Phase Change Memory PCM SRAM CPU NOR NOR NOR 2.5/3D RRAM-/RRAM MRAM/PCM 3D PCM 18 5 SRAM NOR Flash RRAM MRAM PCM 5nm 28nm 28nm 16nm 28nm 2nm 14nm 5nm 5nm 5nm F/bit 300 7.5 2040 30 24 106 108 1015 108 NOR SRAM DRAM HBM DRAM NOR SRAM AI RRAM MRAM HBM HBM-PIM 2.5D DRAM die HBM 2021 DRAM-HBM-PIM AI DRAM AI 19 HBM AI 1 HBM AI HBM 2.5/3D HBM High Bandwidth Memory CPU/GPU 2.5D/3D DRAM Die DRAM Die TSV DRAM GPU DRAM uBump Interposer HBM HBM3 HBM3E DRAM Die 12 17 HBM 18 HBM3 12 DRAM die AMD SK GPU GDDR HBM HBM 1 GDDR GDDR GDDR GDDR GPU GPU GPU GDDR5/6 2 HBM PCB DDR GPU SiP GPU DDR Die DDR HBM AMD 1GB HBM 1GB GDDR5 94%HBM SoC I/O GDDR5 32 1750MHz 1.5V 28GB/s HBM 1024 500MHz 1.3V 100GB 20 19 HBM GDDR 20 1GB HBM GDDR5 AMD AMD 21 GDDR5 HBM AMD HBM AI GDDR HBM 2013 SK HBM GPU 2015 AMD Radeon R9 Fury X HBM2 GPU Tesla P100 AI GPU HBM DGX A100 GPU 80GB HBM2E DGX H100 GPU 80GB HBM3 HBM3 819GB/s GDDR 10 H200 141GB HBM3e HBM H100 76%43%21 6 GDDR HBM GDDR5 GDDR5X GDDR6 GDDR6X HBM2 HBM2E HBM3 GTX 1070 RX 570 TitanX Titan RTX RX5700 XT GeForce RTX 3080/3090 Tesla V100 Radeon Instinct MI520 NVIDIA A100 NVIDIA H100#of placement GPU 8 12 12 12 4 4-8 4-8 Gb/s/pin 8 11.4 14-16 19-21 1.75-2 3.2-3.6 6 GB/s/placement 32 45 56-64 76-84 224-256 410-461 819 GB/s/system 256 547 672-768 912-1008 896-1024 1638-2765 4.8TB Configuration 256 I/O 8pcs 32 I/O package 384 I/O 12pcs 32 I/O package 384 I/O 12pcs 32 I/O package 384 I/O 12pcs 32 I/O package 4096 I/O 4pcs 1024 I/O package 4096-8192 I/O 4-8pcs 1024 I/O package/Frame Buffer of Typical System 8GB 12GB 12GB 12GB 16-32GB 32-96GB/AVG Device Power 9.0 8.0 7.5 7.25 7.0 6.0/Typical I/O Channel PCB P2P SM PCB P2P SM PCB P2P SM PCB P2P SM Si Interposer 2.5D Intergration Si Interposer 2.5D Intergration Si Interposer 2.5D Intergration SK 2 HBM AI HBM HBM AI GPU AI SK HPC AI CPU HPC 40%AI/ML AI HBM AI HBM AI AI GPU GPU HBM Stack HBM DRAM die Hi DRAM die HBM GB AI Trendforce 2022 1430 AI 1%CSP Dell HPE OEM 2-4 15%12%Trendforce 2023 2.85%1383.5 AI AI 1 GPU HBM HBM1 GPU 4 HBM1 AI DGX A100 H100 8 GPU GPU 6 HBM2e 2 DRAM die HBM SK HBM1 HBM3 DRAM Die 2Gb 16Gb 4Hi 12Hi HBM 1GB 24GB 22 3 HBM HBM1 HBM3 1Gbps 6Gbps 128GB/s 4.8TB/s SK HBM3 DRAM 30 A4 1/3 TSV DRAM 12 HBM2e HBM3 78%1.5 4 DRAM DDR4 GB HBM HBM3 HBM3E 22 HBM1 GPU 23 DGX A100 GPU Techinsights 7 HBM HBM1 HBM2 HBM2e HBM3 HBM3E DRAM die 2Gb 8Gb 16Gb 16Gb 16-24Gb*1Gbps 2.4Gbps 3.6Gbps 6.4Gbps 9.2Gbps*128GB/s 307GB/s 460GB/s 819GB/s 1.2TB/s Die 4 4/8 4/8 12 12 1GB 4/8GB 8/16GB 24GB 24-36GB SK*HBM3E 2024 AI HBM AI GPU HBM AI HBM 2024 AI 4%AI 8 GPU DGX A100 H100 GPU 6 HBM 80GB GH200 HBM 96GB H200 HBM 141GB GPU GPU HBM HBM HBM HBM2 HBM2E 2024 HBM3 2024 2025 HBM 2025 2024 AI HBM 23 8 AI HBM 2022 2023E 2024E 2025E 1430 1389 1473 1561 AI 1.0%1.5%4.0%6.0%AI 14.3 20.8 58.9 93.7 AI GPU 8 8 8 8 GPU HBM GB 80 90 110 130 AI HBM GB 0.9 1.5 5.2 9.7 HBM GB 15 20 22 20 HBM 13.7 30.0 114.0 194.8 SK Trendforce COMPUTEX 2023 GH200 Grace Hopper GPU 96GB HBM3 HBM NVIDIA GH200 Grace Hopper NVIDIA NVLink Switch System NVIDIA DGX AI NVIDIA DGX GH200 NVLink NVLink Switch System 256 GH200 GPU 1 exaflop 144 TB 2020 NVIDIA DGX A100 500 H200 GPU 576GB 480GB LPDDR5X HBM A100 H100 GPU 80GB HBM H200 GPU 96GB HBM3 24 GH200 Grace Hopper 24 25 GH200 Grace Hopper GPU 480GB LPDDR5X 96GB HBM3 11 13 Supercomputing 23 H200 GPU GH200 H200 GPU HBM3e 141GB H200 HopperH100 HBM3e H200 141GB HBM3e 6.25Gbps HBM3e GPU 4.8TB/s H100 80GB HBM3 3.35TB/s HBM 76%GH200 624GB GH200 576GB 8.3%26 H200 Grace Hopper HBM AR/VR 1 AR/VR HTC VIVE pro2 GTX1060 HBM 25 2 HBM Jetson AGX Orin 256 LPDDR 204.8HB/s L3/L4 HBM L3 600GB/s-1TB/s 2 HBM2e 1 HBM L4 1-1.5TB/s 3 HBM2e 2 HBM3 26 HBM 2.5D+3D TSV CoWoS 1 HBM Si Bumping TSV CoWoS HBM 2.5D+3D Bumping RDL FC TSV CoWoS HBM 2.5+3D DRAM die TSV 1 HBM DRAM Die Die TSV microbump TC Thermal Compression-NCF non-conductive film MR-MUF NCF LMC Liquid Molding Compound 2 HBM TSV HBM die Base Die die bump Si interposer 3 HBM Stack CoWoS 2.5D CPU/GPU CPU/GPU die FC GPU RDL 4 2.5D TSV Cu Bump Package Substrate 4 package balls PCB Circuit Board Ball Grid Array BGA 27 27 HBM Wikichip 28 HBM DRAM die Techinsights 2021 HBM Si Interposer 14 2027 35 Yole UHD FO Si Interposer 3D 3D SoC LSI EMIB Foveros 3D HBM 3DS 3D NAND Yole 2021 27.4 HBM 4.35 9.64 2027 78.7 UHD FO HBM 3DS 2027 50%HBM 16.3 18.8 CAGR 25%12%28 29 2021-2027 Yole 2 Bumping/FC Bump/I/O 30 31 Powertech FaradayTech AI HPC Cu Pillar Bump CPB CPB Fine Pitch Fine Pitch 130-250um Fine Pitch 29 130-40um 5-10%6 4 30%/32 Indium Bumping UBM PVD Under Bump Metallization UBM UBM UBM 1 Ti/Cu 2 UV Ultraviolet Rays UV 3 ECD UV 4 30 33 John Lau 3 TSV DRAM Die HBM Interposer TSV 2.5/3D TSV Through-Silicon Via SIP TSV 2.5/3D TSV AI GPU HBM DRAM Die 3D TSV HBM 2.5D TSV 9 2.5D TSV GPU GPU GPU AI GPU ASIC+HBM ASIC+4HBM ASIC+6HBM ASIC+6HBM 41*31mm 55*55mm 55*55mm 55*58mm 27*15mm 43*34mm 43*37mm 47*34mm ASIC 17*33mm 32*26mm 33*26mm 33*26mm 14nm 12nm 7nm 5nm HBM2 HBM2 HBM2 HBM2E/3 31 GPU GPU AI GPU TSV HBM 3D 3D TSV HBM 3DinCites 4 DRAM die 1 die HBM 99.5%99%die bonding TSV TSV 30%29%34 HBM 4 DRAM+1 99.5%35 HBM 4 DRAM+1 99%3DInCites 3DInCites TSV TSV MEOL 1 DRIE Deep Reactive Ion Etching 2 PECVD PVD Ti/Ta CVD TiN/TaN 3 Bottom-up 4 TSV 50 m CMP 5 18%12%20%20%15%3%1%7%4%TSV TSV TSV 18%11%19%19%15%3%1%7%8%TSV TSV TSV 32 36 TSV SK TSV/via-middle TSV/17%RDL CVD PVD 15%CVD PVD 37 TSV via-middle A cost model analysis comparing via-middle and via-last TSV processes 17%4%8%8%9%17%7%15%15%/CVD CVD PVD CMP RDL 33 4 CoWoS AI GPU AI 2024 CoWoS HBM GPU TSMC CoWoS 2.5/3D 2.5D Silicon Interposer Micro Bump TSV 3D HBM DRAM die AI GPU DGX A100 H100 H200 CoWoS Chip on Wafer on Substrate CoW Chip on Wafer Interposer OS On Subtrate CoW CoWoS 38 2.5/3D 39 HBM CoWoS Semiconductor Engineering interposer CoWoS CoWoS-S/R/L CoWoS Chip on Wafer on Substrate Interposer Know Good Die KGD Chip on Wafer CoW CoW CoWoS CoWoS 1 CoWoS-S CoWoS Si HBM 2 CoWoS-R RDL RDL Redistribution Layer I/O Chiplet 34 40 CoWoS-R 3 CoWoS-L CoWoS-S InFO LSI Local Silicon Interconnect LSI SoC SoC SoC SoC HBM 41 CoWoS-L CoWoS 2024 2 CoWoS Yole 2021 119 TSMC 30.5 InFO UHD FO CoWoS RDL LSI EMIB Google TPU GPU AMD MI300 AI AIGC A100 H100 CoWoS TPUv4 v5 AMD MI300 CoWoS Trainium through AI Chip AI CoWoS 2022 8 GPU BR100 7nm Chiplet CoWoS 2.5D 6 6 CoWoS CoWoS 23Q3 2024 CoWoS 35 42 2021 Yole 43 BR-100 CoWoS 5 FC die Filp Chip FC Flip Chip Bonding/I/O 36 44 FC SK FC Reflow Thermo Compression C4 Controlled Collapse Chip Connection I/O 45 37 HBM HBM HBM RDL TSV/46 HBM SK Yole 1/HBM DRAM die 100%HBM TSV UBM HBM CoWoS 2 Bump Fan-in CSP SiP Chiplet TSV WLP HBM uBump HBM DRAM Die HBM C4 Cu Bumping PVD 3 TSV TSV PECVD PVD CMP 38 4 Interposer TSV RDL RDL Redistribution Layer I/O HBM SoC RDL RDL CVD/47 5/HBM 6 PAD Map 7 HBM PCB PCB PCB 39 1 Bump TSV KGSD HBM 1/Bumping TSV RDL Inspection Metrology 48 2022 125 VLSI Research 2016 47.6 2020 76.5 CAGR 12.6%Gartner 2021 2022 11%12%2021 2022 100 125 40 49 2022 50 Gartner VLSI Research Gartner HBM/Bumping TSV RDL Bumping/HBM Bump UBM RDL TSV HBM CoWoS Bump DRAM die HBM GPU C4/Bump 51 HBM Bumping Camtek TSV/CMP TSV CD TSV SEM TSV 17%22%22%12%6%4%3%2%1%11%CMP-10%-5%0%5%10%15%20%25%30%35%0204060801001201402016 2017 2018 2019 2020 2021 2022市场规模（亿美元）YOY（右轴）41 SEM 3D CD D2W W2W TSV 52 TSV Unraveling 3D Semiconductor Packaging Challenges_Thermal Fisher RDL/HBM RDL 55um 40um RDL/53 RDL LAM Research 2 KGSD SEMI 2021 78 22.5 63%17.4%15.2%/42 CP Circuit Probing PAD 41 PAD IC DRAM HBM KGSD DRAM WFBI/HBM MBIST PHY DRAM/HBM KGSD DRAM TSV Base die HBM die PHY TSV/DRAM Base die KGSD KGSD HBM I/O HBM I/O 1000 KGSD PHY I/O 43 54 DRAM HBM High-Bandwidth Memory(HBM)Test Challenges and Solutions 2 8 HBM 90%250um-20um 6 8 625um 725um 12 775um 725um 12 5-10um 90%Back Grinding 700-800um 200-250um 70-80um 20um 2022 8.2 DISCO QYResearch 2022 8.2 2018-2022 CAGR 18.7%2029 13.2 6 CAGR 6.5%Disco TOKYO SEIMITSU 44 G&N Okamoto Semiconductor Equipment Division CR3 85%55 QYResearch Chiplet 3D IC TSV IC IC 3D NAND CMOS SoC 2.5 3D IC 100-200um 3D 50-100um 50um Yole 2019 1 2025 1.35 100-200um 8200 30-50um 2019-2025 CAGR 98%2025 170 56 2021-2025 Yole TSV HBM DRAM die TSV MEOL Bottom-up TSV 50 m CMP TSV HBM0%5%10%15%20%25%30%35%40%024681012142018 2019 2020 2021 2022 2023E 2024E 2025E 2026E 2027E 2028E 2029E yoy 45 DRAM die 700-800um 70-80um 4-6 20um HBM 16-32 57 SK 3/Bonding-Wafer-to-Wafer W2W-Die-to-Wafer D2W W2W D2W Wire Bonding Flip Chip Bonding Hybrid Bonding 58 W2W 59 3D 3D 46 60 D2W SK 1 TSV 2 TSV 10%TSV 5um 0.5um 2D 2.5D 3D-Hybrid Bonding D2W W2W 47 61 SK HBM SoC Chiplet SoC Dies IP 1 Chiplet Chiplet Fan-out CoWoS 2 3D Chiplet CPU GPU Hybrid Bonding AMD AMD SRAM 3D MPU Die 10 3D NAND HBM DDR6+SoC Die+DRAM+Logic NAND Block+12+Peri under DRAM Peri on MRAM FeRAM PCM 3D SoC SRAM+Logic Bac