Artificial Intelligence
Semiconductor Assembly and Testing Services Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Services and Application
New York, Feb. 24, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Semiconductor Assembly and Testing Services Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Services and Application” – https://www.reportlinker.com/p06232600/?utm_source=GNW
With continuous growth in advanced technologies such as autonomous driving, 5G, artificial intelligence (AI), and Internet of Things (IoT); and rising research and development investments by semiconductor designing and manufacturing companies worldwide, the global semiconductor industry is anticipated to witness a robust growth over the forecast period of 2021 to 2028.Asia Pacific is the key region that is driving majority of global semiconductor growth and countries like China, Taiwan (Province of China), Japan, and South Korea are major players in global semiconductor industry.
Moreover, the growing nature of economies in the region coupled with high demand for telecom infrastructure and consumer electronics is fueling the growth of the semiconductor assemble, packaging, and testing market in the APAC region.North America is another key region that is driving the semiconductor sales growth with rising demand of industrial automation, vehicle electrification, autonomous driving, 5G, IoT, and digital connectivity across countries like the US and Canada.
The growing demand for advanced semiconductor in industries such as consumer electronics, automotive, and telecom among others is anticipated to boost the growth of semiconductor assembly and testing services market worldwide from 2021 to 2028.
The COVID-19 pandemic has shaken several industries.The unprecedented growth in the spread of the virus has urged governments worldwide to impose strict restrictions on vehicles and human movement.
The semiconductor industry took a significant hit as the demand for electronic components was lowered from industrial sector and end users.The revenue model for microelectronics has declined as no mass production was carried in the lockdown period.
China is a most prominent manufacturing hubs in the region and have an enhanced focus on industrialization.The growth of the manufacturing industry has been hampered due to lockdowns across several APAC countries in the wake of COVID-19 pandemic.
However, the manufacturing industry soon recovered by enhancing the production capabilities in the second half of the year. The demand for advanced electronics such as a smartwatches, smart wearables, and healthcare machines has risen significantly. Post lockdown, the semiconductor industry started to regain the market share as production facilities restarted the operation by taking social distancing measures. Besides, work from home and remote monitoring strategies helped increase the sale of advanced electronics products for better connectivity. IT and telecommunication industry importance have been highlighted for the communicational purpose, which allowed the industry to evolve with new technologies such as IoT connectivity.
The semiconductor assembly and testing services market is segmented based on service and application, and geography.Based on service, the market is segmented into assembly & packaging services and testing services.
In 2021, the assembly & packaging segment led the semiconductor assembly and testing services market and accounted for a larger market share.Based on application, the market is segmented into consumer electronics, automotive, medical, industrial, and other applications.
In 2021, the consumer electronics segment led the semiconductor assembly and testing services market and accounted for a larger market share.Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).
In 2021, APAC accounted for a significant share in the global market.
The key players operating in the global semiconductor assembly and testing services market and profiled in the market study include Amkor Technology, ASE Group, Chipbond Technology Corporation, Integrated Micro-Electronics, Inc., JCET Group Co., Ltd, Integra Technologies, Powertech Technology Inc., Siliconware Precision Industries Co., Ltd., Teledyne Technologies, and Unisem Group.
The overall global semiconductor assembly and testing services market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the semiconductor assembly and testing services market with respect to all the segments.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights into the topic.
The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the semiconductor assembly and testing services market.
Read the full report: https://www.reportlinker.com/p06232600/?utm_source=GNW
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