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Semiconductor Assembly And Testing Services Market Analysis, Trends, Growth, Research And Forecast 2033
Semiconductor Assembly And Testing Services Market
According to The Business Research Company's, The semiconductor assembly and testing services market size has grown strongly in recent years. It will grow from $32.78 billion in 2023 to $34.94 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to the widespread adoption of smartphones and tablets, growth in consumer electronics, increasing globalization, need for innovative packaging solutions, increasing adoption of advanced packaging technologies.
The semiconductor assembly and testing services market size is expected to see strong growth in the next few years. It will grow to $45.67 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to continuous innovation in semiconductor technologies, deployment of 5G networks, the proliferation of Internet of Things (IoT) devices, rise of electric vehicles, popularity of wearable devices. Major trends in the forecast period include the proliferation of the Internet of Things (IoT), the rollout of 5G networks, the automotive industry's transition toward electric vehicles (EVs), continued expansion of cloud computing infrastructure, and increasing adoption of renewable energy technologies.
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Market Drivers and Trends:
The increasing demand for consumer electronics is expected to propel the growth of the semiconductor assembly and testing services market going forward. Consumer electronics refers to devices crafted explicitly for purchase and utilization by end-users or consumers for personal and non-commercial/professional uses in their daily lives. The demand for consumer electronics is rising due to rising disposable income levels, shifts in consumer lifestyles, rapid urbanization, and the proliferation of e-commerce platforms. The semiconductor assembly and testing services support the consumer electronics industry by providing high-quality, reliable, and cost-effective semiconductor components that power various devices, including smartphones, tablets, laptops, wearables, and smart home appliances. For instance, in May 2023, according to the Japan Electronics and Information Technology Industries Association, a Japan-based trade association, the total consumer electronics production increased from $161.17 million (¥25,268 million) in May 2022 to $204.75 million (¥32,099 million) in May 2023. Therefore, the increasing demand for consumer electronics is driving the growth of the semiconductor assembly and testing services market going forward.
Major companies operating in the semiconductor assembly and testing services market focus on artificial intelligence (AI)-powered software solutions to accelerate yield improvement throughout integrated circuit (IC) engineering and production processes. The AI-powered software is tailored for yield improvement in IC engineering and production processes and offers semiconductor manufacturers a powerful tool to enhance operational efficiency, increase yield rates, and drive continuous improvement initiatives. For instance, in November 2022, Advantest Corporation, a Japan-based automatic test equipment manufacturer for the semiconductor industry, launched ACS EASY, a unique AI-powered, user-friendly software solution. It enhances productivity across device engineering and production operations, catering to various users, ranging from chip designers to outsourced semiconductor assembly and testing (OSAT) companies. The innovative ACS EASY application employs artificial intelligence to autonomously oversee test conditions and deduce potential causes of yield degradation, facilitating the isolation and analysis of underlying issues in production.
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Major Key Players of the Market:
Powertech Technology Inc., Taiwan Semiconductor Manufacturing Company, Intel Corporation, Micron Technology Inc., ASE Technology Group, QUALCOMM Inc., Amkor Technology Inc., Teledyne Technologies Inc., Jiangsu Changjiang Electronics Technology Co. Ltd., Siliconware Precision Industries Co. Ltd., Tianshui Huatian Technology Co. Ltd, Global Foundries Inc., Integrated Microelectronics Inc., King Yuan Electronics Corp., STATS chipPAC Ltd., ChipMOS Technologies INC., Chipbond Technology Corporation, UTAC Holdings Ltd., Unisem Group, Formosa Advanced Technologies Co. Ltd, Walton Advanced Engineering Inc., Lingsen Precision Industries Ltd., Integra Technologies LLC, Greatek Electronics Inc., CORWIL Technology Corp.
Semiconductor Assembly And Testing Services Market 2024 Key Insights:
• The semiconductor assembly and testing services market size is expected to see strong growth in the next few years. It will grow to $45.67 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%.
• Rising Consumer Electronics Demand Boosts Semiconductor Assembly Sector
• AI-Powered Solutions Propel Semiconductor Industry Leaders
• Asia-Pacific was the largest region in the semiconductor assembly and testing services market in 2023
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