The semiconductor assembly and testing services market size is projected to reach US$ 97.21 billion by 2031 from US$ 66.02 billion in 2023. The market is expected to register a CAGR of 5.0% during 2023–2031. The rising demand for consumer electronics and high usage of semiconductor devices in industrial automation are likely to be the key drivers and trends of the market.
The semiconductor assembly and testing services market is experiencing significant growth globally. This growth is attributed to factors such as the rising demand for consumer electronics and the high usage of semiconductor devices in industrial automation. Moreover, the rising automotive sector to propel semiconductor assembly and testing services and advancement in semiconductor packaging techniques is anticipated to hold several opportunities for the market in the coming years.
Semiconductor assembly and testing is a critical part of the semiconductor value chain, where wafers manufactured by semiconductor fabs are assembled or packaged and then tested before they are finally used in the desired product. Innovations in semiconductor assembly and testing are driving increased performance, reduced form factor, and reduced costs of semiconductor chips.
Consumer electronics, such as smartphones, tablets, smart glasses, virtual reality headsets, smartwatches, and fitness wristbands, are becoming increasingly popular among consumers. These devices serve various purposes, including activity tracking and health monitoring. The demand for consumer electronics drives the need for semiconductor assembly and testing services. The application areas of wearable devices are expanding beyond consumer electronics to include medical devices and wireless communication devices. In the medical sector, there is significant growth potential for the semiconductor assembly and testing services market in wearable medical devices and wireless healthcare monitoring systems as the sector undergoes a technological transformation.
The rising Automotive Sector is anticipated to hold several opportunities for the market as innovative vehicles rely heavily on electronics for various functions, including engine control units (ECUs), infotainment systems, advanced driver-assistance systems (ADAS), and electric vehicle components. Moreover, the emergence of electric vehicles, automotive assistance, quality and reliable standards, and supply chain integration helps the market to grow.
Key segments that contributed to the derivation of the semiconductor assembly and testing services market analysis are services and applications.
The geographic scope of the semiconductor assembly and testing services market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the semiconductor assembly and testing services market. High technology adoption trends in various industries in the North American region have fuelled the growth of the semiconductor assembly and testing services market. Factors such as increased adoption of digital tools and high technological spending by government agencies are expected to drive the North American semiconductor assembly and testing services market growth. The rising demand for consumer electronics and high usage of semiconductor devices in industrial automation are likely to be the key drivers and trends of the market. Moreover, a strong emphasis on research and development in the developed economies of the US and Canada is forcing the North American players to bring technologically advanced solutions into the market. In addition, the US has many semiconductor assembly and testing services market players who have been increasingly focusing on developing innovative solutions. All these factors contribute to the region's growth of the semiconductor assembly and testing services market.
The regional trends and factors influencing the Semiconductor Assembly and Testing Services Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Semiconductor Assembly and Testing Services Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 66.02 Billion |
| Market Size by 2031 | US$ 97.21 Billion |
| Global CAGR (2023 - 2031) | 5.0% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Services
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Semiconductor Assembly and Testing Services Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Semiconductor Assembly and Testing Services Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The semiconductor assembly and testing services market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the semiconductor assembly and testing services market are listed below:
The “Semiconductor Assembly and Testing Services Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The expected CAGR of the semiconductor assembly and testing services market is 5.0%.
The global semiconductor assembly and testing services market is expected to reach US$ 97.21 billion by 2031.
The increasing advancement in semiconductor packaging techniques is anticipated to drive the market in the forecast period.
The key players holding majority shares in the global semiconductor assembly and testing services market are Amkor Technology, ASE Group, Chipbond Technology Corporation, Integrated Micro-Electronics, Inc., JCET Group Ltd, Integra Technologies, Powertech Technology Inc., Siliconware Precision Industries Co., Ltd, Teledyne Technologies, Unisem Group.
The rising demand for consumer electronics and the high usage of semiconductor devices in industrial automation are some of the factors driving the semiconductor assembly and testing services market.
North America is anticipated to dominate the semiconductor assembly and testing services market in 2023.