According to the recent research report titled ‘Global Outsourced semiconductor assembly and testing Market Size study, by Service Type (testing, assembly), by Packaging Type (Ball Grid Array, Chip Scale Package, Multi Package, Stacked Die, Quad & Dual) by application (automotive, consumer electronics, industrial, telecommunication, others) and Regional Forecasts 2021-2027’, available with Market Study Report, global outsourced semiconductor assembly and testing market was worth USD 34.7 billion in 2020 and is projected to record a CAGR of 5.1% over 2021-2027, subsequently amassing USD 49.2 billion by the end of the forecast period.
 

Global outsourced semiconductor assembly and testing market growth is primarily driven by growing adoption of smartphones, rapid urbanization, and surging demand for consumer electronics, cites the study.
 

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For the unversed, companies that provide third-party IC packaging and test services are termed as outsourced semiconductor assembly and test (OSAT). They offer packaging to silicon devices made by foundries and test them before releasing to the market. Companies in the marketplace offer advanced and cost-effective solutions that provide faster processing, improved performance, and functionality while taking up less space in electronic devices.
 

Major contenders are employing key strategies to expand their presence in worldwide outsourced semiconductor assembly and testing industry. For instance, leading Taiwanese firm ASE Technology Holding Co. Ltd., in 2020, stated that it intended to establish manufacturing units in India to develop export hubs for OSAT services. Likewise, Siemen Digital Industries and Advanced Semiconductor Engineering Inc. (ASE) teamed up in February 2021, to assist mutual customers in developing and evaluating various complex integrated circuit package assemblies and interconnected scenarios.
 

Speaking of restraints, high cost associated with OSAT companies is likely to hamper the industry expansion over the forecast period.  
 

Considering regional front, Latin America, Asia Pacific, Europe, North America are the top contributors to the overall market remuneration. Of these, Asia Pacific industry is projected to amass notable returns over 2021-2027, creditable to rising trend of advanced semiconductor chip package solutions in global automotive sector.
 

Key players operating in global outsourced semiconductor assembly and testing market sphere are Hana Micron Inc., Unisem Group, King Yuan Electronics Corp. (KYEC), TongFu Microelectronics Co. Ltd., ASE Technology Holding Co. Ltd., Amkor Technology Inc., Tianshui Huatian Technology Co. Ltd., Powertech Technology Inc., and Jiangsu Changjiang Electronics Technology Co. Ltd.