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LONDON, Jan. 30, 2024 (GLOBE NEWSWIRE) — As per The Business Research Company’s Outsourced Semiconductor Assembly And Testing Global Market Report 2024, the outsourced semiconductor assembly and testing market has witnessed a robust expansion, projecting a growth from $39.51 billion in 2023 to $43.56 billion in 2024, reflecting a Compound Annual Growth Rate (CAGR) of 10.2%. This surge in the historic period is attributed to the heightened demand for integrated circuits, semiconductor miniaturization, cost efficiency, the growth of consumer electronics, and adherence to regulatory compliance.
Future Outlook:
The outsourced semiconductor assembly and testing market anticipates continued robust growth in the upcoming years, reaching $63.46 billion in 2028 with a CAGR of 9.9%. The forecasted expansion is driven by factors such as the automotive industry, cybersecurity demands, the global supply chain, outsourced manufacturing, and evolving environmental regulations. Noteworthy trends in this period include advancements in 3D IC technology, 5G technology, artificial intelligence (AI) and machine learning, high-performance computing, and advanced packaging.
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Automotive Industry as a Catalyst:
The burgeoning automotive industry is poised to propel the growth of the outsourced semiconductor assembly and testing market. With OSAT offering scalable solutions, stringent quality control measures, and certifications, it allows businesses in the automotive sector to reduce infrastructure costs, focusing on core competencies. For example, the global production of motor vehicles reached 85.4 million units in 2022, marking a 5.7% increase from 2021, according to the European Automobile Manufacturers Association.
Key Industry Players:
Major companies contributing to the growth of the outsourced semiconductor assembly and testing market include Advanced Semiconductor Engineering Inc., Amkor Technology Inc., Jiangsu Changjiang Electronics Tech Co. Ltd., and others. These companies are strategically investing in OSAT to enhance production capabilities, reduce costs, and improve overall efficiency in the semiconductor manufacturing process.
Regional Dominance:
In 2023, Asia-Pacific emerged as the largest region in the outsourced semiconductor assembly and testing market. This dominance is indicative of the region’s significant contribution to the outsourced semiconductor assembly and testing market’s growth and development.
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Market Segmentation:
- Type: Test Service, Assembly Service
- Process: Sawing, Sorting, Testing, Assembly
- Packaging Type: Ball Grid Array, Chip Scale Package, Multi Package, Stacked Die, Quad And Dual
- Application: Communication, Consumer Electronics, Computing And Networking, Automotive, Industrial, Other Applications
Stakeholders across industries, including semiconductor companies, investors, and policymakers, can leverage this comprehensive outsourced semiconductor assembly and testing market report to gain insights into market trends, identify growth opportunities, and make informed decisions. The outsourced semiconductor assembly and testing market report provides a valuable resource for strategic planning, allowing stakeholders to align their initiatives with the dynamic landscape of the outsourced semiconductor assembly and testing market.
Outsourced Semiconductor Assembly And Testing Global Market Report 2024 by The Business Research Company provides insights on the outsourced semiconductor assembly and testing market size, outsourced semiconductor assembly and testing market segments, outsourced semiconductor assembly and testing market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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