Rise in demand for consumer electronics and surge in degree of urbanization have boosted the growth of the global outsourced semiconductor assembly and testing market.
PORTLAND, Ore., Nov. 10, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Outsourced Semiconductor Assembly and Testing Market by Process (Sawing, Sorting, Testing, Assembly), by Packaging Type (Ball grid array, Chip scale package, Multi-package, Stacked die, Quad and dual), by Application (Automotive, Consumer electronics, Industrial, Telecommunication, Aerospace and defense, Medical and healthcare, Logistics and transportation): Global Opportunity Analysis and Industry Forecast, 2021-2031". As per the report, the global outsourced semiconductor assembly and testing industry was pegged at $34.6 billion in 2021, and is expected to reach $60.3 billion by 2031, growing at a CAGR of 6.3% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
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Drivers, restraints, and opportunities
Rise in demand for consumer electronics and surge in degree of urbanization have boosted the growth of the global outsourced semiconductor assembly and testing market. However, high cost of associated with OSAT services hinders the market growth. On the contrary, growing chip market and surge in transition toward OSAT in developing countries such as India, South Korea, and China would open new opportunities in the future.
Covid-19 Scenario:
- The Covid-19 pandemic significantly affected the market due to strict lockdown imposed by government. The production facilities of semiconductor companies were partially or completed closed and several companies offered work from home to their employees, which negatively affected the market.
- Operations of production and manufacturing industries are heavily affected by the pandemic.
- However, as the world is slowly getting back on track, the demand for OSAT is expected to rise.
The Assembly Segment held the Lion's Share
By process, the assembly segment held the largest share in 2021, accounting for nearly one-third of the global outsourced semiconductor assembly and testing market. Surge in demand for telecom infrastructure as well as consumer electronics around the globe primarily fuels growth in demand for assembly services. However, the testing segment is expected to register the highest CAGR of 8.14% during the forecast period. The need for effective supply chain management in operations associated with integrated device manufacturers (IDMs) and foundries drives the growth of this segment
The Multi-Package Segment to Manifest the Highest CAGR through 2031
By packaging type, the multi-package segment would showcase the highest CAGR of 8.68% from 2022 to 2031, due to its benefits such as a significant increase in packaging efficiency because of replacement of multiple packages with a single package. However, the ball grid array segment held the largest share in 2021, contributing to around one-fourth of the global outsourced semiconductor assembly and testing market. On the contrary, the quad and duel segment is projected to maintain leading position in terms of revenue throughout the forecast period, due to continuously growing mobile industry and rising consciousness about the practicality of electronic packaging materials in various applications.
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The Consumer Electronics Segment held the Largest Share
By application, the consumer electronics segment dominated the market in terms of revenue in 2021, accounting for nearly one-fourth of the global outsourced semiconductor assembly and testing market, due to demand for consumer electronics devices such as TV, mobile phones, and tablets and rise in disposable income. However, the aerospace and defense segment is projected to register the highest CAGR of 9.81% during the forecast period.
North America held the Largest Share
By region, the global outsourced semiconductor assembly and testing market across North America held the largest share in 2021, accounting for nearly two-fifths of the market. However, the market across Asia-Pacific is projected to manifest the highest CAGR of 8.28% during the forecast period, due to surge in trend in the automotive sector for advanced semiconductor chip package solution.
Major Market Players
- Advanced Silicon S.A.
- Alphacore Inc.
- Amkor Technology, Inc.
- Device Engineering Inc.
- HiDensity Group (HMT microelectronic AG)
- Luminar Technologies, Inc. (Black Forest Engineering)
- Presto Engineering Group
- Sencio BV
- ShortLink group
- SiFive, Inc. (OpenFive)
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The report analyzes these key players in the global outsourced semiconductor assembly and testing market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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