Press release
Electronic Contract Manufacturing and Design Services Market Anticipated To Witness Robust Growth, Surpassing $855.22 Billion By 2029
Electronic Contract Manufacturing and Design Services
What Is the Current Electronic Contract Manufacturing and Design Services Market Size and Its Estimated Growth Rate?
The market size for electronic contract manufacturing and design services has experienced a swift expansion in the recent past. The industry, which is projected to balloon from $528.93 billion in 2024 to $582.5 billion in 2025, is poised to witness a Compound Annual Growth Rate (CAGR) of 10.1%. Factors such as globalization, the intricacy of electronic commodities, pressure for quicker time-to-market, and cost-cutting measures can be credited for the growth observed during the historical period.
Rapid expansion is projected in the electronic contract manufacturing and design services market sector over the coming years, with its size predicted to reach $855.22 billion by 2029. This represents a compound annual growth rate (CAGR) of 10.1%. The escalation during this period can be linked to the increasing significance of cybersecurity, supply chain resilience, and an elongated product lifecycle. Key trends projected to shape this period are the requirements for customization, escalating research and development expenses, the impact of IoT and Industry 4.0, the downsizing and advancement of microelectronics, the dawn of 5g technology, boosted collaboration and partnerships, the surge of smart manufacturing, growing demand for distinctive expertise, and the rise of rapid prototyping and agile manufacturing.
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How Are Emerging Segments Shaping the Electronic Contract Manufacturing and Design Services Market Landscape?
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 Growth Factors Are Influencing Electronic Contract Manufacturing and Design Services Market Expansion?
The growth of the electronic contract manufacturing and design services market is being significantly influenced by the escalating demand for consumer electronics. Household and personal-use instruments, machines, and devices utilized by consumers daily are referred to as consumer electronics. These range from televisions, computers, laptops, and smartphones to watches and tablets. The burgeoning demand for these electronic items compels the outsourcing of electronic components from electronic contract manufacturing corporations. This cuts down manufacturing and assembly costs, enhances design services, and boosts the efficiency of operations in manufacturing. As per the assertions of ROI Revolution, a digital marketing agency from the US, revenues from online consumer electronics are predicted to reach $74.86 billion in 2021, potentially escalating to over $88.3 billion by 2025. Ecommerce sales in the consumer electronics sector are projected to exceed $79 billion in 2022, a 7% increase from the preceding year. Consequently, the amplified demand for consumer electronics is a key driver of the growth of the electronic contract manufacturing and design services sector.
Who Are the Dominant Players Across Different Electronic Contract Manufacturing and Design Services Market Segments?
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 Latest Developing Trends in the Electronic Contract Manufacturing and Design Services Market?
Companies in the electronic contract manufacturing and design services sector are widely adopting strategic alliances and partnerships as a top trend. This trend is largely due to the extensive presence of electronics manufacturing companies in the market who aim to achieve growth and market leadership through expanding into new areas. For instance, BioSig Technologies, Inc., a medical device company based in the U.S., and Plexus Corp., a contract-based electronics manufacturing company, entered into a technological and strategic alliance in September 2022. Together, they aim to commercialize and develop a biomedical signal processing platform, which will offer a comprehensive variety of applications in arrhythmia care for BioSig's subsidiary, NeuroClear Technologies.
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Which Geographic Regions Are Expected to Dominate the Electronic Contract Manufacturing and Design Services Market in the Coming Years?
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
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Electronic Contract Manufacturing and Design Services Market?
2. What is the CAGR expected in the Electronic Contract Manufacturing and Design Services Market?
3. What Are the Key Innovations Transforming the Electronic Contract Manufacturing and Design Services Industry?
4. Which Region Is Leading the Electronic Contract Manufacturing and Design Services Market?
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