Global Electronic Contract Manufacturing and Design Services Market Share 2024, Forecast To 2033
19 Feb, 2024
The electronic contract manufacturing and design services market has grown rapidly, increasing from $484.66 billion in 2023 to $537.68 billion in 2024 at a CAGR of 10.9%. The forecast predicts rapid growth, reaching $796.8 billion in 2028 with a CAGR of 10.3%. Growth drivers include globalization, electronic product complexity, time-to-market pressure, and cost reduction. Key trends involve customization needs, rising R&D costs, IoT, industry 4.0, miniaturization, microelectronics, 5G technology, collaboration and partnerships, smart manufacturing, demand for niche expertise, and rapid prototyping and agile manufacturing.
Global Electronic Contract Manufacturing and Design Services Market Key Driver
The surge in demand for consumer electronics is a significant factor fueling the growth of the electronic contract manufacturing and design services market. The outsourcing of electronic components from manufacturing companies is on the rise, driven by increased consumer electronics demand. Projections for the Indian appliances and consumer electronics market indicate substantial growth, further contributing to the electronic contract manufacturing and design services market.
Get A Free Sample Of The Global Electronic Contract Manufacturing and Design Services Market ReportGlobal Electronic Contract Manufacturing and Design Services Market Segments
The electronic contract manufacturing and design services market covered in this report is segmented –
1)By Type: Designing, Assembly, Manufacturing, Other Types
2)By Application: Consumer Electronics, Electronic Components, Computers & Peripherals, Industrial Electronics, Other Applications
3)By End User: Healthcare, Automotive, Industrial, Aerospace and Defense, IT and Telecom, Power and Energy, Consumer Electronics, Other End Users
By Geography: The regions covered in the template market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
Asia-Pacificwas 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
Major Electronic Contract Manufacturing and Design Services Industry Players
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
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Electronic Contract Manufacturing and Design Services Market Overview
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.
Electronic Contract Manufacturing and Design Services Global Market Report 2023 provides data on the global electronic contract manufacturing and design services market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The electronic contract manufacturing and design services market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.