What Has Been The Historical And Current Growth Of The Electronic Contract Manufacturing and Design Services Market?
The electronic contract manufacturing and design services market has seen considerable growth due to a variety of factors.
• The market size of the electronic contract manufacturing and design services has witnessed swift expansion in the past few years. The sector is predicted to surge from $528.93 billion in 2024 to $582.5 billion in 2025, marking a compound annual growth rate (CAGR) of 10.1%.
Factors like globalization, intricacy of electronic items, pressure related to time-to-market, and cost reduction have contributed to this growth during the historic period.
What Is The Forecast For The Electronic Contract Manufacturing and Design Services Market By 2029?
The electronic contract manufacturing and design services market is expected to maintain its strong growth trajectory in upcoming years.
• There's a surge projected in the scope of the electronic contract manufacturing and design services market, with forecasts indicating an expansion to $855.22 billion by 2029 at a CAGR of 10.1%.
This growth can be tied to the elevating significance of cybersecurity, augmented durability of the supply chain, and longer product lifespans. The period also sees trends like the need for customization, escalating costs of research and development, the advent of IoT and Industry 4.0, miniaturization and microelectronics, the 5G technology breakthrough, deeper collaborations and partnerships, the arrival of smart manufacturing, the growing call for specialized skills, and the fast-paced prototyping and agile manufacturing.
Which Drivers Are Accelerating Growth In The Electronic Contract Manufacturing and Design Services Market?
The surging demand for consumer electronics is playing a significant role in bolstering the growth of the market for electronic contract manufacturing and designs services. These electronics, widely utilized by end users or consumers on a daily basis, range from televisions, computers, laptops, smartphones, to tablets and watches. The increased demand for these items has led to a rise in outsourcing of component production to electronic contract manufacturers. This has helped decrease the costs associated with manufacturing and assembly of products, enhancing operational efficiency. To illustrate, US-based digital marketing firm, ROI Revolution, states that consumer electronics online revenue is poised to reach $74.86 billion in 2021, with forecasts showing a surge to above $88.3 billion by 2025. Ecommerce sales for consumer electronics are also projected to exceed $79 billion in 2022, marking a 7% rise from 2021. Consequently, the soaring demand for consumer electronics is fueling the growth of the electronic contract manufacturing and design services sector.
What Are The Core Segments Of The Global Electronic Contract Manufacturing and Design Services Market?
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 And 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
Subsegments:
1) By Designing: Product Design And Development, Prototyping Services, Industrial Design
2) By Assembly: Surface Mount Technology (SMT) Assembly, Through-Hole Assembly, Box Build Assembly
3) By Manufacturing: PCB Manufacturing, Electronic Component Sourcing, Testing And Quality Assurance
4) By Other Types: Supply Chain Management, After market Services, Engineering Support Services
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Which Emerging Trends Are Reshaping The Electronic Contract Manufacturing and Design Services Market Size?
Strategic alliances and mutual cooperations are prominent trends among firms in the electronic contract manufacturing and design services market. The reason for this is the abundance of electronics manufacturing firms in the industry and their ambition to expand their success into fresh territories to establish market dominance. As an example, in September 2022, BioSig Technologies, Inc., a medical device firm based in the United States, and Plexus Corp., a US-based contract electronics manufacturing entity, established a technological and strategic collaboration for commercializing and developing a fresh biomedical signal processing platform. This platform provides a comprehensive suite of applications for arrhythmia care under BioSig’s subsidiary NeuroClear Technologies.
Who Are the Key Players in the Electronic Contract Manufacturing and Design Services Market?
Major companies operating in the electronic contract manufacturing and design services market include:
• 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.
• 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
What are the Regional Insights into the Electronic Contract Manufacturing and Design Services Market?
Asia-Pacific was the largest region in the electronics contract manufacturing and design services market in 2024.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
