Overview and Scope
Electronic contract manufacturing and design services are defined as a form of engineering and manufacturing outsourcing services that companies use to test, manufacture and distribute products, and provide return and repair services. The complexity and wide variety of electronic devices make OEMs choose electronic contract manufacturers to outsource their products for the efficient manufacturing process and to focus on internal operations such as new product development with greater complexity and higher margins.
Sizing and Forecast
The electronic contract manufacturing and design services market size has grown rapidly in recent years. It will grow from $484.66 billion in 2023 to $537.68 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to globalization, complexity of electronic products, time-to-market pressure, cost reduction.
The electronic contract manufacturing and design services market size is expected to see rapid growth in the next few years. It will grow to $796.8 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The growth in the forecast period can be attributed to growing importance of cybersecurity, supply chain resilience, increased product lifecycle. Major trends in the forecast period include customization needs, rising r&d costs, iot and industry 4.0, miniaturization and microelectronics, emergence of 5g technology, increased collaboration and partnerships, rise of smart manufacturing, increasing demand for niche expertise, rapid prototyping and agile manufacturing.
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Segmentation & Regional Insights
The electronic contract manufacturing and design services market covered in this report is segmented –
1) Electronic Contract Manufacturing and Design Services Market By Type: Designing, Assembly, Manufacturing, Other Types
2) Electronic Contract Manufacturing and Design Services Market By Application: Consumer Electronics, Electronic Components, Computers & Peripherals, Industrial Electronics, Other Applications
3) Electronic Contract Manufacturing and Design Services Market By End User: Healthcare, Automotive, Industrial, Aerospace and Defense, IT and Telecom, Power and Energy, Consumer Electronics, Other End Users
Asia-Pacific was the largest region in the electronics contract manufacturing and design services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electronic contract manufacturing and design services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increase in demand for consumer electronics is significantly contributing to the growth of the electronic contract manufacturing and design services market. Consumer electronics are the instruments, machines, and apparatus that are used by end-users or consumers on a daily basis that provide one or more functionalities in a home or for a particular individual for professional or personal use. Consumer electronics include televisions, computers, laptops, smartphones, watches, and tablets. The rising demand for consumer electronics increases the need for outsourcing of electronics components from electronic contract manufacturing companies, which reduces the cost of manufacturing, assembling of products, and design services and increases operational efficiency in manufacturing. For instance, according to the Consumer Electronics and Appliances Manufacturers Association (CEAMA), the Indian appliances and consumer electronics market size is expected to grow more than two-folds in the next five to six years and reach up to $26.81 billion. Also, according to ClearSale, the revenue in the consumer electronics segment is anticipated to increase by more than USD360 billion in 2020 and more than USD450 billion by 2024. Therefore, the increase in demand for consumer electronics is driving the growth of electronic contract manufacturing and design services.
Key Industry Players
Major companies operating in the electronic contract manufacturing and design services market report are Flex Ltd., Hon Hai Precision Industry Co. Ltd., Benchmark Electronics Inc., Celestica Inc., Venture Corporation Limited, Fabrinet, Plexus Corp., Sanmina Corporation, Compal Electronics Inc., Universal Scientific Industrial Co Ltd, New Kinpo Group, Creating Technologies LP, Shenzhen Kaifa Technology, LCS Company, Bassett Industries Inc., Asteelflash Group, Beyonics Technology Ltd., Cal-Comp Electronics Public Company Limited, Cofidur EMS, Delta Group Co. Ltd., Elcoteq SE, Enics AG, ESCATEC Mechatronics Sdn Bhd, Fideltronik Polska Sp. z o. o., GPV International A/S, Integrated Micro-Electronics Inc., Inventec Corporation, Jabil Circuit Inc., Kimball Electronics Inc., Kitron ASA, Kortek Corporation, LaBarge Inc., MC Assembly LLC, Nam Tai Electronics Inc., OSI Electronics Inc., Pemtron Corporation, Scanfil Oyj, SMTC Corporation, Sparton Corporation, TT Electronics plc, Zollner Elektronik AG
The electronic contract manufacturing and design services market report table of contents includes:
1. Executive Summary
2. Electronic Contract Manufacturing and Design Services Market Characteristics
3. Electronic Contract Manufacturing and Design Services Market Trends And Strategies
4. Electronic Contract Manufacturing and Design Services Market - Macro Economic Scenario
5. Global Electronic Contract Manufacturing and Design Services Market Size and Growth
.....
32. Global Electronic Contract Manufacturing and Design Services Market Competitive Benchmarking
33. Global Electronic Contract Manufacturing and Design Services Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Electronic Contract Manufacturing and Design Services Market
35. Electronic Contract Manufacturing and Design Services Market Future Outlook and Potential Analysis
36. Appendix
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SEP 07 2020: The global Electronic Contract Manufacturing and Design Services market size is expected to reach USD 788.9 billion by 2027, registering a CAGR of 8.5% over the forecast period, according to a new study by Grand View Research, Inc.
The electronics industry is highly competitive in nature owing to the increasing complexity of electronic products and rising pressure on OEMs for reducing costs.
Moreover, decreased product lifecycles have upped the demand for better contract manufacturing capabilities and related services.
To achieve the same, OEMs are seeking support from contract manufacturers, which in turn, is driving the market over the forecast period.OEMs subcontract with Electronics Manufacturing Service (EMS) companies and benefit from their expertise in design, manufacturing, and supply chain management.
Furthermore, reduced initial investments and increased operational efficiencies allow OEMs to focus on their core competencies.
Thus outsourcing is a preferred option to keep pace with increasing competition.To Request A Sample Copy Of This Report @: https://www.radiantinsights.com/research/electronic-contract-manufacturing-and-design-services-market/request-sampleThe market is projected to witness significant growth due to rising demand from end-use industries, including healthcare, aerospace and defense, IT and Telecom, and automotive.
