Over $46 Billion Semiconductor Assembly Testing Services Market Outlook 2024-2029

Global Semiconductor Assembly Testing Services Market

Dublin, June 20, 2024 (GLOBE NEWSWIRE) — The “Semiconductor Assembly Testing Services Market – Global Industry Size, Share, Trends, Opportunities and Forecast, 2019-2029F” report has been added to ResearchAndMarkets.com offering.

The global semiconductor assembly testing services market is exhibiting a remarkable growth trajectory, with an expected compound annual growth rate (CAGR) of 7.19% during 2019-2029. In 2023, the market valuation is $30.08 billion, which indicates a thriving industry is an integral part of the semiconductor manufacturing process.

The market is strategically positioned in the semiconductor industry, ensuring the functionality, reliability and quality of semiconductor components through meticulous assembly and testing phases. This market segment provides expertise in complex processes such as die attachment and wire bonding, meeting the complex requirements of integrated circuit and other semiconductor device manufacturing. Advances in semiconductor technology, with special emphasis on advanced packaging techniques such as 3D IC and SiP, are driving demand in the market. The advent of new materials increases this complexity even further, requiring specialized services to maintain reliability and performance standards.

Consumer electronics increasing market demand

The explosive growth in global demand for consumer electronics, characterized by the evolution of smart devices, has directly impacted the demand for assembly testing services. These services ensure that consumer products withstand quality and functionality assessments, thereby enhancing their differentiation in the marketplace.

The growing use of IoT devices is driving market expansion

The growing use of IoT devices, from smart sensors to connected industrial mechanisms, relies heavily on the precision of semiconductor technology. This relationship is expected to fuel the growth of the specialized niche of semiconductor assembly testing, especially as IoT applications continue to grow.

The story continues

Global automotive trends create new opportunities

Growing trends in the automotive sector, including an increased focus on electric vehicles and ADAS technologies, rely heavily on semiconductor components. Assembly testing services are therefore poised for growth as they ensure the resilience and performance of semiconductors in harsh automotive environments.

5G technologies increasing market demand

The expansion of 5G networks is creating significant demand for specialized semiconductor assembly testing services, ensuring the adaptation of semiconductor components within high-speed, low-latency, high-bandwidth network infrastructures.

Government policy strengthening the market

Proactive government actions across the globe to support semiconductor research and facilitate trade have proven to support market growth. Intellectual property protection, innovation incentives and employee training initiatives are paving the way to a sustainable market landscape.

Challenges for the future: technological evolution and supply chain disruptions

However, rapid technological evolution and increased complexity of semiconductor designs pose significant challenges for the market. Moreover, semiconductor supply chain disruptions, exemplified by recent chip shortages, are an urgent concern for service providers, underscoring the need for agility and strategic resilience.

Regional insights and key market players

Known for its robust manufacturing infrastructure and cost-effective environment, the Asia-Pacific region dominates the market landscape. The presence of qualified employees and favorable government policy further strengthen the region’s position as a leader in the semiconductor assembly testing services market. Significant players shaping the market direction include ASE Technology Holding Co. Ltd, Amkor Technology Inc. and Powertech Technology Inc. Together, these entities support innovation and drive service excellence in the global semiconductor assembly testing services sphere.

Key features

The list of companies mentioned in this report includes:

• ASE Technology Holding Co. Ltd.

• Amkor Technology Inc.

• Jiangsu Changjiang Electronics Technology Co. Ltd.

• Siliconware Precision Industries Ltd.

• Powertech Technology Inc.

• GlobalFoundries Inc.

• UTAC Holdings Ltd.

• Chipbond Technology Corp.

• Tongfu Microelectronics Co. Ltd.

• Micron Technology Inc.

More information about this report can be found at https://www.researchandmarkets.com/r/ciftr8

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