North America Semiconductor Assembly and Testing Services Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Services (Assembly & Packaging Services and Testing Services) and Application (Consumer Electronics, Automotive, Medical, Industrial, and Other Applications)
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The North America semiconductor assembly and testing services market is expected to grow from US$ 14,780.58 million in 2020 to US$ 21,948.28 million by 2028; it is estimated to grow at a CAGR of 5.2 % from 2021 to 2028.
The US, Canada, and Mexico are economies in North America. Growing demand for consumer electronics is expected to escalate the North America semiconductor assembly and testing services market. With heavy usage of smartphones, desktops, digital cameras, tablets, laptops, hard disks, and televisions, among others, the consumer electronics industry has evolved significantly due to several new technological developments. For instance, the rising adoption of 5G networks is creating strong opportunity for the market players to develop advanced RF modules using system-in-package technology for connectivity. According to the Ericsson’s mobility report, the share of 5G network in the North American market is expected to grow from 4% in 2020 to 80% by 2026, while the rest 20% would be held by the 4G technology. This highlights the opportunities for electronic companies to develop new electronics devices comprising ICs packed with embedded die packaging technology to meet the evolving performance requirements. Additionally, the emergence of smart devices, growing adoption of tablets, surge in demand for devices with large screens, and advancements such as the emergence of IoT across devices is creating high demand for consumer electronics. With the rising need of electronic equipment, the usage for semiconductor devices also increases in multiple digital consumer products including smartphones, televisions, digital cameras, refrigerators, washing machines, and LED bulbs. This is subsequently stirring the need for semiconductor testing services. Therefore, the rising demand for consumer electronics is driving the North America semiconductor assembly and testing services market.
In case of COVID-19, the North American market suffered a huge loss in the first half of 2020 owing to the high number of cases, specifically in the US. Post lockdown, the market witnessed increasing demand for digital devices. North America is among the eminent regions in adopting smart or IoT-based devices due to favorable infrastructure that support high-speed internet services. The adoption of 5G network has driven 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, predicted that the shipments of 5G smartphones will double in 2022 owing to 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 in a negative manner.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America semiconductor assembly and testing services market. The North America semiconductor assembly and testing services market is expected to grow at a good CAGR during the forecast period.
North America Semiconductor Assembly and Testing Services Market Segmentation
North America Semiconductor Assembly and Testing Services Market –By Services
- Assembly & Packaging Services
- Testing Services
North America Semiconductor Assembly and Testing Services Market –By Application
- Consumer Electronics
- Automotive
- Medical
- Industrial
- Other Applications
North America Semiconductor Assembly and Testing Services Market, by Country
- US
- Canada
- Mexico
North America Semiconductor Assembly and Testing Services Market -Companies Mentioned
- Amkor Technology
- ASE Group
- Integra Technologies
- Integrated Micro-Electronics, Inc.
- JCET Group Co., Ltd.
- Siliconware Precision Industries Co., Ltd.
- Teledyne Technologies Incorporated
- Unisem Group
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