Chinese firms gain ground in 2024 top 10 OSAT ranking
The combined revenue of the world’s top 10 outsourced semiconductor assembly and test (OSAT) companies reached USD 41.56 billion in 2024, a 3% YoY increase, according to a new report from TrendForce. While established players ASE Holdings and Amkor retained their top positions, Chinese firms including JCET and HT-Tech posted double-digit growth, reshaping the competitive landscape.
ASE led the industry with USD 18.54 billion in revenue, accounting for nearly 45% of the top ten companies' combined revenue. However, as TrendForce points out, the company faced headwinds from weak demand across multiple end markets and increasing in-house testing by clients.
Amkor ranked second with USD 6.32 billion in revenue, down 2.8% from the previous year. The decline was attributed to prolonged inventory corrections in the automotive sector and persistent pricing pressure in Asia.
China’s JCET took third place with USD 5 billion in revenue, marking a 19.3% YoY increase. Growth was supported by recovering consumer electronics demand and new product ramps in areas such as AI PCs and mid-range smartphones.
TrendForce notes that while the market remains dominated by mature players, Chinese OSAT companies are expanding rapidly, bolstered by domestic demand and state support. The analysts also highlights growing technical complexity in the sector, driven by trends such as heterogeneous integration, wafer-level packaging, and advanced testing for AI and edge computing applications. This development sets the stage for intensified competition.
| Ranking | Company | Revenue (USD Billion) | Top 10 share | |||
| 2023 | 2024 | YoY | 2023 | 2024 | ||
| 1 | ASE Holdings | 18.68 | 18.54 | -07% | 46.3% | 44.6% |
| 2 | Amkor | 6.50 | 6.32 | -2.8% | 16.1% | 15.2% |
| 3 | JCET | 4.19 | 5.00 | 19.3% | 10.4% | 10.2% |
| 4 | TFME | 3.14 | 3.32 | 5.6% | 7.8% | 8.0% |
| 5 | PTI | 2.26 | 2.28 | 1.0% | 5.6% | 5.5% |
| 6 | TSHT | 1.59 | 2.01 | 26.0% | 4.0% | 4.8% |
| 7 | WiseRoad | 1.48 | 1.56 | 5.0% | 3.7% | 3.7% |
| 8 | Hana Micron | 0.74 | 0.92 | 23.7% | 1.8% | 2.2% |
| 9 | KYEC | 1.06 | 0.91 | -14.5% | 2.6% | 2.2% |
| 10 | ChipMOS | 0.69 | 0.71 | 3.1% | 1.7% | 1.7% |
| Top 10 total | 40.34 | 41.56 | 3.0% | |||
For more information visit TrendForce.