Comprehensive Market Study: Global Services Procurement Report 2024

The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033

LONDON, GREATER LONDON, UK, June 20, 2024 /EINPresswire.com/ -- The semiconductor assembly and testing services market size has shown robust growth, increasing from $32.78 billion in 2023 to $34.94 billion in 2024, at a compound annual growth rate (CAGR) of 6.6%. This growth can be attributed to the widespread adoption of smartphones and tablets, expansion in consumer electronics, globalization trends, demand for innovative packaging solutions, and the uptake of advanced packaging technologies.

Rising Demand for Consumer Electronics Drives Market Growth
The semiconductor assembly and testing services market is set to see significant expansion in the coming years, projected to reach $45.67 billion by 2028, growing at a CAGR of 6.9%. This growth is driven by continuous advancements in semiconductor technologies, the rollout of 5G networks, proliferation of Internet of Things (IoT) devices, surge in electric vehicles (EVs), and increasing popularity of wearable devices. The market is further buoyed by the rising demand for consumer electronics, supported by factors such as rising disposable incomes, evolving consumer lifestyles, rapid urbanization, and the widespread availability of e-commerce platforms.

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Key Players and Market Trends
Major companies in the semiconductor assembly and testing services market, such as Powertech Technology Inc., Taiwan Semiconductor Manufacturing Company, and Intel Corporation, are focusing on artificial intelligence (AI)-powered software solutions to enhance yield improvement across integrated circuit (IC) engineering and production processes. For example, Advantest Corporation launched ACS EASY, an AI-powered software solution aimed at boosting productivity and yield rates in semiconductor manufacturing.

Trends Shaping the Market
Key trends in the semiconductor assembly and testing services market include the proliferation of IoT, the expansion of 5G networks, the automotive industry's shift toward electric vehicles, continuous growth of cloud computing infrastructure, and increased adoption of renewable energy technologies.

Market Segments:
• Service: Assembly And Packaging Services, Testing Services
• Packaging Technology: Flip-Chip, Wire Bond, Other Packaging Technologies
• End-Use Industry: Telecommunication, Computing And Networking, Consumer Electronics, Industrial, Automotive Electronics, Other End-Use Industries

Geographical Insights: Asia-Pacific Leading the Market
Asia-Pacific emerged as the largest region in the semiconductor assembly and testing services market in 2023 and is expected to maintain its dominance through the forecast period. The region benefits from robust semiconductor manufacturing activities, driven by major economies like China, Taiwan, and South Korea.

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Semiconductor Assembly And Testing Services Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Semiconductor Assembly And Testing Services Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on semiconductor assembly and testing services market size, semiconductor assembly and testing services market drivers and trends, semiconductor assembly and testing services market major players, competitors' revenues, market positioning, and market growth across geographies. The semiconductor assembly and testing services market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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