Semiconductor Assembly and Test Services (SATS) Market to Rise at 5.5% CAGR during 2021-2028; Growing Application in Automotive Electronics and 5G to Advance Market Growth: Fortune Business Insights™

Pune, India, March16, 2022(GLOBE NEWSWIRE) -- The globalSemiconductor Assembly and Test Services (SATS) market size hit USD 30.71 billion in 2020. The market valuation is poised to increase from USD 31.86 billion in 2021 to USD46.24 billion in 2028 at a CAGR of5.5% during the projected period. The market is slated to garner significant momentum from the expanding consumer tech sector. Additionally, growing advances in automotive electronics and 5G technology will favor the market growth in the forthcoming years, states Fortune Business Insights™ in its report titled “Software-Defined Data Center Market, 2021-2028”.

Semiconductor Assembly and Test Services (SATS), a vital component of the chipmaking process, are experiencing robust demand, as the application scope of electronics continues to expand. This demand is being mainly observed across consumer electronics, automotive, and IT & telecom sectors. Demand for power-efficient devices, portable electronics, cloud-based services, and other digital technologies creates a promising outlook for SATS providers.

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Companies Operating in Semiconductor Assembly and Test Services (SATS) Market

Semiconductor Assembly and Test Services (SATS) Market Report Scope & Segmentation

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COVID-19 Impact

Disruptions in Semiconductor Industry and Chip Shortages Affected Market Growth during 2020

Semiconductor Assembly and Test Services (SATS) market growth experienced a considerable slowdown during the COVID-19 pandemic. The same can be attributed to supply chain uncertainty and the shutdown of electronics manufacturing facilities in most parts of the world, especially during 2020. The International Data Corporation (IDC) reports that the global semiconductor industry revenue declined by approximately 6% in 2020.

However, to address the rising chip shortage, several major electronics companies were seen setting up new assembly and testing facilities. For instance, Tata Sons Private Limited plans to set up new assembly and testing units across three Indian states – Karnataka, Telangana, and Tamil Nadu – with a USD 300 million investment.

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Market Segments

On the basis of service type, the market share is bifurcated into assembly and packaging and testing.

In terms of application, the market share is segmented into consumer electronics, automotive electronics, communication, computing and networking, and industrial.

Geographically, the market share is broken down into North America, Europe, South America, the Middle East & Africa, and the Asia Pacific.

Report Coverage

The report offers:

Drivers & Restraints

Expanding Consumer Electronics Sector to Propel SATS Market Forward

Continuous technological developments in the consumer electronics sector, fueled by never-ending consumer expectations, remain the major driver for the global Semiconductor Assembly and Test Services (SATS) market growth. Consumer techs such as smartphones, smart wearables, smart home devices as well as household appliances is experiencing rapid adoption worldwide. Additionally, the rising trend of smart homes and home automation are creating favorable opportunities for SATS companies. This is because these advanced technologies and use-cases require efficient, low-power chips. The aforementioned factors along with the expansion of 5G technology will strengthen the market outlook.

However, the high capital investment required to set up assembling and testing facilities could hamper the market expansion to some extent.

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Regional Insights

Asia Pacific to Record Stellar Growth backed by Robust Semiconductor Industry

Asia Pacific generated USD 14.54 billion in terms of annual revenue in 2020 and will continue to dominate Semiconductor Assembly and Test Services (SATS) market share during the forecast duration. According to the Semiconductor Industry Association (SIA), about 80% of semiconductor assembly and testing is done in Asian countries. The expanding auto sector in the region along with the proliferating consumer tech sector will drive the regional market.

North America is a highly lucrative market for SATS, led by the presence of some of the world’s major semiconductor manufacturers in the region, especially in the U.S. Meanwhile, the market in Europe will experience notable growth on account of rising 5G adoption.

Industry Development

July 2021:Jiangsu Changjiang Electronics Technology Co., Ltd. unveiled XDFOI - a new line of high-density fanout packaging solutions. These products are reliable, cost-effective, and offer high-integration interconnection of chips to enable cutting-edge semiconductor manufacturing.

Major Table of Contents:

TOC Continued…!

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