Global demand for Chip-on-Wafer-on-Substrate (CoWoS) and CoWoS-like packaging capacity will likely grow by 113% annually in 2025, driven by robust demand for cloud AI accelerators, according to DIGITIMES Research.
Major suppliers TSMC, ASE Technology Holding (including Siliconware Precision Industries, SPIL), and Amkor are expanding their production capacities. By the end of the fourth quarter of 2025, TSMC's monthly production capacity is expected to increase to over 65,000 12-inch wafers, while that of Amkor and ASE combined will increase to 17,000 wafers.
DIGITIMES Research predicts that TSMC will transition from CoWoS-Short (CoWoS-S) to CoWoS-Long (CoWoS-L) process starting in the fourth quarter of 2025 due to the mass production of Nvidia's Blackwell series GPUs, making CoWoS-L the primary process for TSMC's CoWoS technology.
Key factors affecting 2.5D advanced packaging capacity in 2025
Table 1: Key factors affecting 2025 2.5D advanced packaging capacity, demand & supply
Chart 1: Cloud high-end GPU and ASIC accelerator shipments, 2023-2025 (k units)
Chart 2: Global CoWoS and CoWoS-like packaging capacity by players, 2023-2025 (k 12-inch wafers)
Chart 3: TSMC monthly CoWoS packaging capacity, 1Q23-4Q25 (k 12-inch wafers)
Chart 5: TSMC CoWoS packaging capacity share by plant, 2023-2025
Chart 6: TSMC CoWoS packaging capacity booking volumes by customer, 2023-2025 (k 12-inch wafers)
Chart 7: TSMC CoWoS packaging capacity share by technology, 4Q24 & 4Q25
Table 2: TSMC CoWoS packaging technologies adopted by high-end AI accelerators, 2025
Table 3: Comparison of TSMC CoWoS-S and CoWoS-L packaging technologies
