Global semiconductor OSAT industry in 2024: Top 10 companies and market dynamics

According to TrendForce’s 2024 report, the global Outsourced Semiconductor Assembly and Test (OSAT) industry navigated technological advancements and consolidation, with the top 10 companies generating a combined revenue of US$41.56 billion, a 3% year-on-year increase. The market saw steady leadership from established players and significant growth from Chinese firms.
ASE Holdings led with $18.54 billion in revenue, securing a 45% share among the top ten. However, growth was limited by slow recovery in smartphones, consumer electronics, automotive, and industrial sectors, alongside increased competition in testing and in-house testing by clients. Amkor ranked second with $6.32 billion in revenue, down 2.8% year-on-year, impacted by inventory corrections in automotive and weak global vehicle sales, despite some recovery in consumer electronics.
JCET, in third place, reported $5 billion in revenue, up 19.3% year-on-year, driven by improved consumer electronics demand, clearing semiconductor inventories, and new AI PC and mid-range smartphone platforms boosting standard packaging capacity. Tongfu Microelectronics, fourth, earned $3.32 billion in revenue, up 5.6% year-on-year, supported by communications and consumer electronics demand and a strong performance from AMD.
Powertech Technology, fifth, recorded $2.28 billion in revenue, up 1% year-on-year, constrained...