US Semiconductor Assembly and Testing Services Market
No. of Pages: 214 | Report Code: TIPRE00024217 | Category: Electronics and Semiconductor
No. of Pages: 214 | Report Code: TIPRE00024217 | Category: Electronics and Semiconductor
Market Introduction
Semiconductor industry plays an essential role in enabling cutting-edge digital technologies used in diverse industry verticals such as consumer electronics, automotive, medical, space, military, and IT & telecommunication among several others. 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 present in the country, the US semiconductor industry is anticipated to witness a robust growth over the forecast period of 2021 to 2028. Moreover, the high demand for telecom infrastructure and consumer electronics is fueling the growth of semiconductor assemble, packaging, and testing market in the US. Further, with rising demand of industrial automation, vehicle electrification, autonomous driving, 5G, IoT, and digital connectivity across country.
Strategic insights for the US Semiconductor Assembly and Testing Services provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market. The geographic scope of the US Semiconductor Assembly and Testing Services refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.US Semiconductor Assembly and Testing Services Strategic Insights
US Semiconductor Assembly and Testing Services Report Scope
Report Attribute
Details
Market size in 2021
US$ 10,723.0 Million
Market Size by 2028
US$ 15,798.4 Million
Global CAGR (2021 - 2028)
5.7%
Historical Data
2019-2020
Forecast period
2022-2028
Segments Covered
By Service
By Application
Regions and Countries Covered
United States
Market leaders and key company profiles
US Semiconductor Assembly and Testing Services Regional Insights
Market Overview and Dynamics
The US semiconductor assembly and testing services market is expected to grow from US$ 10,723.0 million in 2021 to US$ 15,798.4 million by 2028; it is estimated to grow at a CAGR of 5.7% from 2021 to 2028.
Semiconductors have a wide range of applications in the automotive sector, especially in due to emerging technologies such as autonomous driving as well as in various automotive electronic equipment. The adoption of safety-related electronics has grown rapidly in the last few decades. Semiconductor component manufacturers are continuously focusing on the manufacturing of advanced systems. Further, surge in demand for multiple semiconductor devices, such as microcontrollers, sensors, and memory, is benefitting the automotive semiconductor vendors. Electrification, automation, digital connectivity, and security systems further add to the demand for more semiconductor equipment in automotive electronics. Furthermore, the addition of modern safety features such as advanced driver-assistance systems (ADAS) to the vehicles is resulting in increased use of automotive electronic components in navigation, safety, and fuel-efficiency applications. This would drive the demand for integrated circuits, microcontrollers, and sensors. Therefore, surge in the use of semiconductors in the automotive sector is providing significant growth opportunities for the semiconductor assembly and testing service market players in the US.
Impact of COVID-19 Pandemic on US Semiconductor Assembly and Testing Services Market
The COVID-19 pandemic has shaken several industries. The tremendous growth in the spread of the virus has urged US government to impose strict restrictions on vehicles and human’s movement. Due to travel ban, mass lockdown, and business shutdowns, the pandemic has affected economies and countless industries in the country. The lockdown imposition has resulted in lesser production of commodities, goods, and services. Manufacturing, automotive, semiconductor & electronics, oil & gas, mining, aviation, and other industries have witnessed a decline in their operations due to the temporary shutdown of activities. 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.
US market suffered a huge loss in the first half of 2020 owing to the high number of COVID-19 cases. Post lockdown, the market witnessed increasing demand for digital devices. US is among the leading country in adopting smart or IoT-based devices due to favourable infrastructure support for high-speed internet services. The adoption of the 5G network is supposed to drive the market growth post lockdown. The COVID-19 outbreak has a major impact on manufacturing facilities as production capacities were lowered. As the demand for electronics remained constant, it helped the market to resume the growth. For instance, in December 2020, Qualcomm Inc, a leading manufacturer of microprocessors (US) has predicted that the shipments of 5G smartphones will double in 2022, with the increasing 5G network deployment. Such increasing adoption of 5G smartphones is lowering the COVID- 19 impact for the post lockdown period; while in lockdown, it certainly hampered the market growth. Further, in post lockdown, 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 also 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 increasing demand for the small firm factor-based electronics devices specifically for health monitoring and smartphones augmented the market growth.
Key Market Segments
The US semiconductor assembly and testing services market is segmented on the basis of service and application. Based on service, the US semiconductor assembly and testing services market is segmented into assembly and packaging services and testing services. The assembly and packaging services segment held the largest market share in 2020 owing to high demand of semiconductor in consumer electronics, automotive, medical, space, and military. On the basis of application, the market is segmented into consumer electronics, automotive, medical, space, military, and others. The consumer electronics segment dominated the market pertaining in terms of revenue share whereas automotive is the expected to be the fastest growing application segment over the forecast period of 2021 to 2028.
Major Sources and Companies Listed
The top companies operating in the US semiconductor assembly and testing services market are Amkor Technology; ASE Group; Unisem Group; DPA Components International (DPACI); GlobalFoundries U.S. Inc.; Golden Altos Corporation; Grinding & Dicing Services, Inc.; Micross; Precision Test Solutions; Promex Industries Inc.; SkyWater Technology. Various other companies operating in the market are coming up with new technologies and offerings, which is helping the US semiconductor assembly and testing services market to expand in terms of revenue.
Reasons to Buy Report
US Semiconductor Assembly and Testing Services Market Segmentation
US Semiconductor Assembly and Testing Services Market – by Service
US Semiconductor Assembly and Testing Services Market – by Application
US Semiconductor Assembly and Testing Services Market - Companies Mentioned
The List of Companies - US Semiconductor Assembly and Testing Services Market
The US Semiconductor Assembly and Testing Services Market is valued at US$ 10,723.0 Million in 2021, it is projected to reach US$ 15,798.4 Million by 2028.
As per our report US Semiconductor Assembly and Testing Services Market, the market size is valued at US$ 10,723.0 Million in 2021, projecting it to reach US$ 15,798.4 Million by 2028. This translates to a CAGR of approximately 5.7% during the forecast period.
The US Semiconductor Assembly and Testing Services Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the US Semiconductor Assembly and Testing Services Market report:
The US Semiconductor Assembly and Testing Services Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The US Semiconductor Assembly and Testing Services Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the US Semiconductor Assembly and Testing Services Market value chain can benefit from the information contained in a comprehensive market report.