Consumer Electronics Segment to Dominate Europe Semiconductor Assembly and Testing Services Market during 2020–2028
According to The Insight Partners market research study on “Europe Semiconductor Assembly and Testing Services Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Services and Application” is expected to reach US$ 6,843.35 million by 2028 from US$ 5,154.93 million in 2020. The market is estimated to grow at a CAGR of 3.8 % from 2021 to 2028. The report provides trends prevailing in the Europe semiconductor assembly and testing services market along with the drivers and restraints pertaining to the market growth. Escalating usage of semiconductor devices in industrial automation and mounting demand for consumer electronics are the major factor driving the growth of the Europe semiconductor assembly and testing services market. However, surging e-waste problem hinders the growth of Europe semiconductor assembly and testing services market.
In case of COVID-19, Germany, France, Italy, and UK are some of the hardest-hit countries by the coronavirus. These countries are expected to suffer an economic hit due to a lack of revenue from various industries. Additionally, with the outbreak of another variant of COVID-19 in key countries such as the UK and Germany, the semiconductor assembly and testing services market’s growth got hampered in a negative manner. The region is a significant manufacturing and industrial hub for sectors such as healthcare, aviation, manufacturing, automotive, and energy & power. Due to COVID-19, many businesses in Europe faced financial challenges as their activities were substantially reduced due to lack of workforce, government-imposed restrictions, and decreasing sales. However, post lockdown market has witnessed healthy growth rate owing to the increasing demand for advanced electronics devices to restart facilities, operations, commercial places, and transportation.
Europe semiconductor assembly and testing services market is segmented into the services, application, and country. Based on services, the Europe semiconductor assembly and testing services market is segmented into assembly & packaging services and testing services. The assembly & packaging services segment held the largest market share in 2020 owing to high demand of semiconductor in consumer electronics, IT & telecommunication, automotive and industrial sectors and testing services segment is expected to be fastest growing during forecast period. On the basis of application, the market is segmented into consumer electronics, automotive, medical, industrial, and other applications. The consumer electronics segment dominated the market pertaining in terms of revenue share in 2020 whereas automotive segment is the expected to be the fastest growing application segment over the forecast period of 2021 to 2028.
Amkor Technology; ASE Group; Integrated Micro-Electronics, Inc.; JCET Group Co., Ltd.; Siliconware Precision Industries Co., Ltd.; Teledyne Technologies Incorporated; and Unisem Group are among the leading companies in the Europe semiconductor assembly and testing services market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, ASE, MOE and NKUST together establish onsite campus semiconductor assembly and test facility to develop world-class high-tech industry graduates.
The report segments the Europe Semiconductor Assembly and Testing Services Market as follows:
Europe Semiconductor Assembly and Testing Services Market – By Services
- Assembly & Packaging Services
- Testing Services
Europe Semiconductor Assembly and Testing Services Market – By Application
- Consumer Electronics
- Automotive
- Medical
- Industrial
- Other Applications
Europe Semiconductor Assembly and Testing Services Market – By Country
- Germany
- France
- Italy
- UK
- Russia
- Rest of Europe
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