Display & Adjacent Markets is AMAT's smallest segment at ~$1.7B in FY2024 revenue (~6% of total), declining 8% YoY. This segment sells equipment for OLED and LCD display manufacturing, solar panel production, and increasingly, advanced semiconductor packaging. The display business is highly cyclical — dependent on panel manufacturer capex cycles (BOE, Samsung Display, LG Display). The most interesting growth vector is advanced packaging: as chiplet architectures and HBM proliferate, AMAT's deposition and bonding tools are increasingly used for wafer-level packaging. The segment has the widest range of outcomes — it could become a meaningful growth driver through advanced packaging or remain a small, cyclical afterthought.
Display & Adjacent Markets segment revenue was approximately $1.7B in FY2024, declining ~8% YoY. The segment represents approximately 6% of AMAT's total revenue.
Advanced semiconductor packaging is a rapidly growing market driven by chiplet architectures, HBM stacking, and heterogeneous integration. AMAT has relevant tools for hybrid bonding, TSV formation, redistribution layers, and CMP of packaging substrates. While advanced packaging revenue is currently small (embedded within Display & Adjacent), it represents one of the most promising growth vectors. The total advanced packaging equipment TAM is estimated at $5-8B by 2028, growing 15-20% CAGR. AMAT's deposition and planarization strengths translate directly to packaging, but competition is fragmented with dedicated packaging equipment makers (BESI, ASM Pacific) also participating.
The advanced semiconductor packaging equipment market was estimated at ~$3B in 2024 and is projected to reach $5-8B by 2028, representing a 15-20% CAGR driven by HBM, chiplets, and...