Europe Semiconductor Assembly and Testing Services Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Services and Application

The Europe semiconductor assembly and testing services market is expected to grow from US$ 5,154.93 million in 2020 to US$ 6,843.35 million by 2028; it is estimated to grow at a CAGR of 3.8% from 2021 to 2028. With enormous demand for smartphones, desktops, digital cameras, tablets, laptops, hard disks, and televisions, among others, the consumer electronics industry has evolved significantly and embraced several new technological developments. For instance, the rising adoption of 5G networks is creating strong opportunity for the Europe market players to develop advanced RF modules using system-in-package (SIP) technology for connectivity. Additionally, the emergence of smart devices and IoT across devices, growing adoption of tablets, and surge in demand for devices with large screens are highlighting the need of semiconductor devices. Therefore, the rising adoption of consumer electronics is driving the Europe semiconductor assembly and testing services market.

Germany, France, Italy, and the UK among the hardest-hit countries in Europe by COVID-19. 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 region is witnessing difficulties in continuing manufacturing and industrial operations. Europe is a hub healthcare, aviation, manufacturing, automotive, and energy & power industries. Amid the COVID-19 pandemic, many businesses in this region are facing financial challenges due to substantial decrease in their activities, government-imposed restrictions, and reduction in sales. Nevertheless, businesses are likely to witness healthy growth rate with various facilities, manufacturing and assembly plants, commercial places, and transportation providers resuming their operations post lockdown.

The consumer electronics segment led the Europe semiconductor assembly and testing services market based on application in 2020. The consumer electronics industry is witnessing new developments to confer greater flexibility, reliability, and cost-saving benefits to customers. Consequently, the trend of miniaturization of smart consumer electronics is at peak as it ensures user comfort. Semiconductor assembly and testing services assists consumer electronics manufacturers to produce semiconductors, wafers, and memory chips used in consumer electronic products and wireless/mobile handsets in a more efficient manner. Head mounted displays are anticipated to be a growth driver for semiconductor growth in consumer electronics. In addition, the growing popularity of wearable devices and smart watches is further bolstering the demand for assembly, packaging, and testing services. In addition, the mounting adoption of digital video content drives the demand for mobile and high-performance consumer electronics products such as Wi-Fi chipsets and other semiconductor chips. Thus, the growing use of consumer electronics is propelling demand for semiconductor assembly and testing services in Europe, thereby driving the market growth.

The Europe semiconductor assembly and testing services market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the Europe semiconductor assembly and testing services market. The process also serves the purpose of obtaining overview and forecast for the Europe semiconductor assembly and testing services market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants involved in this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers - along with external consultants such as valuation experts, research analysts, and key opinion leaders - specializing in the Europe semiconductor assembly and testing services market. 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 major players operating in the market in this region.

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