Portland,OR, July 20, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global outsourced semiconductor assembly and test market generated $33.37 billion in 2019, and is expected to reach $51.03 billion by 2028, registering a CAGR of 5.1% from 2021 to 2028.
Rise in demand for consumer electronics, increase in degree of urbanization across the globe, and surge in adoption of smartphones drive the growth of the global outsourced semiconductor assembly and test market. However, high cost associated with OSAT services hinders the market growth. On the contrary, growth of the chip market and rise in transition toward OSAT in developing economies would open new opportunities in the future.
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Covid-19 scenario:
- Due to the Covid-19 pandemic, the production facilities and electronics and semiconductors industries were halted. Moreover, the disruption in the supply chain hampered the demand for OSAT.
- The prolonged lockdown affected the manufacturing and production facilities. Moreover, the lack of workforce reduced testing of outsourced semiconductors.
- On the other hand, rise in installation of IoT devices and rise in initiatives for smart cities would help the market get back on track.
The report segments the global outsourced semiconductor assembly and test market on the basis of service type, packaging type, application, and region.
Based on service type, the assembly segment is projected to register the highest CAGR of 5.8% during the forecast period. However, the testing segment held the largest share in 2019, accounting for nearly three-fourths of the market.
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On the basis of application, the multi-package segment is estimated to portray the highest CAGR of 7.6% from 2021 to 2028. However, the ball grid array segment dominated the market in 2019, contributing to around one-fourth of the market.
The global outsourced semiconductor assembly and test market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the largest share in 2019, accounting for around two-fifths of the market. However, the market across Asia-Pacific is estimated to register the highest CAGR of 7.3% during the forecast period.
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The global outsourced semiconductor assembly and test market includes an in-depth analysis of the prime market players such as Amkor Technology, Inc., ASE Technology Holding, Co., LTD, Powertech Technology Inc., Jiangsu Changjiang Electronics Technology Co., LTD, TongFu Microelectronics Co., LTD, Tianshui Huatian Technology Co., LTD, Hana Micron Inc., King Yuan Electronics Corp., ChipMOS Technology Inc., and Unisem Group.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.