Semiconductor Assembly and Testing Services Market to See Strong Expansion Through 2027 Covid-19 Analysis By Top Leading Players – Amkor Technology, ASE Group, Chipbond Technology Corporation, Integra

Semiconductor Assembly and Testing Services Market to See Strong Expansion Through 2027 Covid-19 Analysis By Top Leading Players - Amkor Technology, ASE Group, Chipbond Technology Corporation, Integra

“The Insight Partners”
The unprecedented growth in the spread of the COVID-19 has urged governments worldwide to impose strict restrictions on vehicle and human movement. Travel bans, mass lockdowns, and business shutdowns have affected several economies and industries in various countries.

According to our latest study on “Semiconductor Assembly and Testing Services Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by service and application,” the market was valued at US$ 50,223.8 million in 2020 and it is projected to reach US$ 71,784.6 million by 2028; it is expected to grow at a CAGR of 4.7% from 2021 to 2028.

Semiconductors are being widely accepted in the automotive sector due to emerging technologies such as autonomous driving. The development of autonomous cars triggers the adoption of safety-related electronics systems. Automotive semiconductor vendors are leveraging the surge in demand for semiconductor-based devices such as microcontrollers, sensors, and memory devices used in cars. Apart from this, large number of semiconductor equipment is being used in electrification, automation, digital connectivity, and security systems, among other automotive electronics. The consumption of automotive electronic components for navigation, safety, and fuel efficiency would increase in the coming years due to a large number of electronic equipment being used in advanced safety features such as advanced driver-assistance systems (ADAS) added to the vehicles. This would drive the demand for integrated circuits, microcontrollers, and sensors, thus bolstering the demand for semiconductor assembly and testing services.

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APAC held the largest share of the semiconductor assembly and testing services market in 2020, followed by North America and Europe, respectively. Further, North America is projected to witness the highest CAGR in the market during the forecast period. Based on service, the semiconductor assembly and testing services market is segmented into assembly & packaging services and testing services. The assembly & packaging services segment held a larger market share in 2020. On the basis of application, the semiconductor assembly and testing services market is segmented into consumer electronics, automotive, medical, industrial, and other applications. The consumer electronics segment dominated the market in 2020, whereas the automotive segment is expected to register the highest CAGR during 2021–2028.

Impact of COVID-19 Pandemic on Semiconductor Assembly and Testing Services Market

The unprecedented growth in the spread of the COVID-19 has urged governments worldwide to impose strict restrictions on vehicle and human movement. Travel bans, mass lockdowns, and business shutdowns have affected several economies and industries in various countries. The lockdown imposition has resulted in lesser production of commodities, goods, and services. Manufacturing, automotive, semiconductor & electronics, oil & gas, mining, aviation, and other industries have witnessed a decline in their operations due to the temporary shutdown of activities. The semiconductor industry took a significant hit due to the lowered demand for electronic components from the industrial sector and other end users. Moreover, the revenue of microelectronics providers also decreased due to downscaling of production during the lockdown period. Post lockdown, the semiconductor production facilities restarted the operation by taking social distancing measures. Besides, work from home and remote monitoring strategies helped increase the sale of advanced electronics products for better connectivity. The demand for IT and telecommunications products for ensuring effective communications increased in many businesses, which allowed the industry to evolve with new technologies such as IoT connectivity. The increasing demand for electronic devices with small form factors, specifically for health monitoring, as well as smartphones, augmented the semiconductor assembly and testing services market growth.

The semiconductor industry plays an essential role in enabling the use of cutting-edge digital technologies in various industries, such as consumer electronics, automotive, medical, IT, and telecommunications. With continuous advancements in technologies such as autonomous driving, 5G, artificial intelligence (AI), and Internet of Things (IoT); and rising research and development investments by semiconductor designing and manufacturing companies worldwide, the global semiconductor industry is anticipated to witness robust growth over the forecast period of 2021 to 2028. APAC is the largest contributor to the global semiconductor growth, and China, Taiwan, Japan, and South Korea are among the key countries in the global semiconductor industry. Moreover, the high demand for telecom infrastructure and consumer electronics is fueling the growth of the semiconductor assembly, packaging, and testing market in APAC. The growth of the semiconductor assembly and testing market in North America is attributed to the surge in semiconductor sales with a rising demand of industrial automation, vehicle electrification, autonomous driving, 5G, IoT, and digital connectivity across the US and Canada, among other countries. Moreover, industries such as consumer electronics, automotive, and telecom are boost bolstering the demand for advanced semiconductors, thereby contributing to the growth of the semiconductor assembly and testing services market.

Rising Demand for Consumer Electronics Fuels Growth of Semiconductor Assembly and Testing Services Market

The consumer electronics industry has evolved significantly with the elevated use of smartphones, desktops, digital cameras, tablets, laptops, hard disks, and televisions, among others, due to new technological developments. For instance, the rising adoption of 5G networks is creating a strong opportunity for the market players to develop advanced RF modules for connectivity using system-in-package technology. According to Ericsson’s mobility report, the share of the 5G network in the North American market is expected to grow from 4% in 2020 to 80% by 2026, while the rest 20% would be held by the 4G connectivity. This highlights the opportunities for electronic companies to develop new electronic devices comprising ICs packed with embedded die packaging technology to meet the evolving performance requirements. Additionally, the emergence of smart devices, the growing adoption of tablets, surge in demand for devices with large screens is creating a high demand for consumer electronics.

With the rising need for electronics, the usage of semiconductor devices is also increasing in digital consumer products such as smartphones, televisions, digital cameras, refrigerators, washing machines, and LED bulbs. This is subsequently stirring the need for semiconductor testing services, thereby driving the semiconductor assembly and testing services market growth.

The List of Companies – Semiconductor Assembly and Testing Services Market

  1. Amkor Technology
  2. ASE Group
  3. Chipbond Technology Corporation
  4. Integrated Micro-Electronics, Inc.
  5. Integra Technologies
  6. Powertech Technology Inc.
  7. Siliconware Precision Industries Co., Ltd.
  8. Teledyne Technologies Incorporated
  9. Unisem Group
  10. JCET Group Co., Ltd.

The semiconductor assembly and testing services market has been segmented as follows:

Semiconductor Assembly and Testing Services Market – By Service

  • Assembly & Packaging Services
  • Testing Services

Semiconductor Assembly and Testing Services Market – By Application

  • Consumer Electronics
  • Automotive
  • Medical
  • Industrial
  • Other Applications

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