本論文以半導體IC封裝測試 (Outsourced Semiconductor Assembly and Test， OSAT)產業為研究對象，探討在人工智慧 (AI)、高效能運算 (HPC) 及先進封裝快速發展下，後段製程於全球半導體價值鏈中的結構性轉型。隨著半導體製程趨近物理極限，封裝與測試已由傳統支援性角色，轉變為影響系統效能、可靠度及產品上市時程的關鍵技術節點，產業競爭邏輯亦隨之改變。 研究方法上，本論文採用產業經濟學之「結構－行為－績效」(Structure-Conduct-Performance， S-C-P) 分析架構，結合資料分析與質性比較，系統性檢視OSAT產業的外在環境、政策因素、市場結構、廠商策略行為與經營績效之間的因果關係。研究範圍涵蓋全球與台灣OSAT產業發展現況，並特別聚焦於先進封裝（如2.5D/3D、Fan-Out、chiplet、hybrid bonding）與高階測試之技術演進。 研究結果顯示，OSAT產業已呈現高度集中與寡占特性，先進封裝與高階測試形成高技術門檻、低可替代性的次市場。龍頭業者透過大規模資本投資、平台化產品策略與供應鏈協同，逐步取得較高的議價能力，訂價行為由成本導向轉為價值導向；相對地，中小型與利基型業者則多以專精特定製程或應用市場維持競爭力，產業內部績效呈現明顯分化。此外，地緣政治、各國半導體政策與去風險化趨勢，亦進一步強化封裝測試於供應鏈安全中的戰略地位。 結論認為，台灣OSAT產業在全球半導體體系中具備不可替代的節點價值，未來競爭優勢將取決於先進封裝平台化能力、高階測試深度、供應鏈整合效率及長期研發投入。研究結果可作為產業策略調整與政府政策規劃之重要參考。;This thesis investigates the Outsourced Semiconductor Assembly and Test (OSAT) industry， focusing on the structural transformation of back-end manufacturing within the global semiconductor value chain under the rapid growth of artificial intelligence (AI)， high-performance computing (HPC)， and advanced packaging technologies. As semiconductor process scaling approaches physical limits， packaging and testing have evolved from supportive manufacturing functions into critical stages that significantly influence system performance， product reliability， and time-to-market， thereby reshaping industry competition. This study adopts the Structure–Conduct–Performance (S-C-P) framework from industrial economics and applies a combination of secondary data analysis and qualitative comparison to examine the relationships among the external environment， government policies， market structure， firm behavior， and operating performance in the OSAT industry. The scope of analysis covers both the global and Taiwanese OSAT markets， with particular attention to the development of advanced packaging technologies， including 2.5D/3D integration， Fan-Out packaging， chiplet architectures， and hybrid bonding， as well as advanced testing services. The results indicate that the OSAT industry has developed a highly concentrated and oligopolistic market structure， especially in advanced packaging and high-end testing segments characterized by high technological entry barriers and low substitutability. Leading OSAT firms have strengthened their competitive positions through large-scale capital investment， platform-based product strategies， and closer supply chain coordination， resulting in a shift from cost-oriented to value-oriented pricing behavior. In contrast， small and niche OSAT firms mainly compete through specialization in specific processes or application markets， leading to increasing performance divergence within the industry. Moreover， geopolitical factors， national semiconductor policies， and global supply chain de-risking initiatives further enhance the strategic importance of packaging and testing in supply chain security. This study concludes that Taiwan’s OSAT industry occupies an irreplaceable nodal position in the global semiconductor ecosystem. Future competitive advantages will depend on the development of platform-based advanced packaging capabilities， depth in high-end testing services， effectiveness of supply chain integration， and sustained long-term investment in research and development. The findings provide practical implications for corporate strategic planning and policy formulation in the semiconductor industry.
