Electronic Contract Design Engineering Market Outlook With Expected 7.24% CAGR 2018 – 2023 | Top Key Players - ALTADOX, BENCHMARK ELECTRONICS, CELESTICA, CAL-COMP ELECTRONICS PCL, CREATION TECHNOLOGIES LP, JABIL CIRCUIT

Industry Highlights:
The global electronic contract design engineering market is projected to register a CAGR of 7.24% during the forecast period (2018 - 2023).
Manufacturers are increasingly adopting outsourcing services, like design and engineering, to reduce costs and improve flexibility considerably. To streamline several production processes, companies have increased their R & D investments and various other strategic initiatives. Also, due to challenges with in-house production, companies are outsourcing to save cost. Electronic contract design & engineering services are expected to witness high growth across non-technical segments, such as medical, aerospace & defense, and automotive, due to low penetration rates and significant growth opportunities. The growing need to optimize the resources is a major factor impacting the growth of electronic contract design & engineering services market over the forecast period.

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Major Players :
ALTADOX, INC., BENCHMARK ELECTRONICS, INC., CELESTICA, INC., CAL-COMP ELECTRONICS (THAILAND) PCL, CREATION TECHNOLOGIES LP, HON HAI PRECISION INDUSTRY CO. LTD, (FOXCONN), JABIL CIRCUIT, INC., PLEXUS CORPORATION, SANMINA-SCI CORPORATION, UNIVERSAL SCIENTIFIC INDUSTRIAL CO. LTD, amongst others.

Key Developments in the Market
March 2018 - Benchmark opened its third facility in Penang, continuing the expansion of its Precision Technologies Group in Malaysia.

Reasons to Purchase the Report
• Impact of growing application in the automotive industry
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
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• Regional analysis of the market
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Automotive Sector Holds a Significant Market Share
The upsurge in demand for electrical vehicles has increased the need to outsource their electronic component manufacturing, thereby spurring the EMS market demand in the automotive sector. Connected car and vehicle infotainment system features are at the forefront, enhancing the need for increasingly-complex software-driven functionality.

Asia-Pacific to Hold the Major Market Share
Asia-Pacific occupies a significant market share majorly due to the demand from countries, like China and India. China has transformed into a major source of electronics production. The low-cost labor and availability of raw materials are some of the factors influencing electronic design & engineering services in this region.

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