The Electronic Contract Manufacturing and Design Services by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Electronic Contract Manufacturing and Design Services , 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.
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.
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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
Strategic partnerships and collaborations are the key trends being followed by the companies operating in the electronic contract manufacturing and design services market. This is due to the presence of a large number of electronics manufacturing companies operating in the market and their desire to extend their growth in new areas to be a leader in the market. For instance, in September 2021, BioSig Technologies, Inc., an American medical device company, and Plexus Corp., an American-based contract electronics manufacturing company, formed a technological and strategic partnership for the commercialization and development of a new biomedical signal processing platform, which provides a full range of applications in arrhythmia care for BioSig’s subsidiary NeuroClear Technologies.
The electronic contract manufacturing and design services market report table of contents includes:
- Executive Summary
- Electronic Contract Manufacturing and Design Services Market Characteristics
- Electronic Contract Manufacturing and Design Services Market Trends And Strategies
- Electronic Contract Manufacturing and Design Services Market – Macro Economic Scenario
- Global Electronic Contract Manufacturing and Design Services Market Size and Growth
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- Global Electronic Contract Manufacturing and Design Services Market Competitive Benchmarking
- Global Electronic Contract Manufacturing and Design Services Market Competitive Dashboard
- Key Mergers And Acquisitions In The Electronic Contract Manufacturing and Design Services Market
- Electronic Contract Manufacturing and Design Services Market Future Outlook and Potential Analysis
- Appendix
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