Rising Automotive Sector to Propel Semiconductor Assembly and Testing Services Presents Opportunities

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The semiconductor assembly and testing services market was valued at US$ 50,223.8 million in 2020 and is projected to reach US$ 71,784.6 million by 2028; it is expected to grow at a CAGR of 4.56% from 2020 to 2028. The industrial automation plays an essential role in every industry and manufacturing scenario. It helps save time and money as well as reduces human efforts. The use of control systems, including computers or robots, and information technologies for handling different processes and machinery help maximize the productivity rate of any company. The growing adoption of IoT across industrial, commercial, and residential sectors is accelerating the use of semiconductor equipment. For instance, General Electric offers Brilliant Factory, a suite of hardware assets, software, and consultation services, for upgrading factories as per the industrial IoT (IIoT) principles. The company claimed that this can help manufacturers enhance the performance of their factories using predictive analytics. Moreover, industrial automation is being used in every sector, including manufacturing, electronics, automobile, and aerospace & defense, which, in turn, is bolstering the demand for semiconductor devices. Thus, the high use of semiconductor devices in industrial automation is propelling the growth of the semiconductor assembly and testing services market.

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