Global Electronic Contract Manufacturing and Design Services Market Size study & Forecast, by Service (Electronic design & engineering, Electronics assembly, Electronic manufacturing, Others), by End-use (Healthcare, Automotive, Industrial, Aerospace & De

Global Electronic Contract Manufacturing and Design Services Market Size study & Forecast, by Service (Electronic design & engineering, Electronics assembly, Electronic manufacturing, Others), by End-use (Healthcare, Automotive, Industrial, Aerospace & Defense, IT & Telecom, Power & Energy, Consumer Electronics, Others), and Regional Analysis, 2022-2029

Global Electronic Contract Manufacturing and Design Services Market is valued at approximately USD 478.3 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 9.5% over the forecast period 2022-2029. Companies that offer electronic manufacturing and design services often produce, distribute, test, and offer repair and return services for electronic assemblies and components for OEM. The assembly of circuit boards and hardware, component design, process engineering, procurement, product fulfilment, product engineering, distribution, and after-sales services are just a few of the productive tasks performed by electronic contract manufacturers. Over the projection period of 2022 to 2029, the market for electronic contract manufacturing and design services is anticipated to develop due to growing requirements for resource efficiency. The market for electronic contract manufacturing and design services is expected to expand due to the rise in consumer spending power and demand for consumer electronics.

According to Statista, the global smartphone penetration rate is increasing which is driving the growth of the market over the forecasted period. In 2018, the percentage of people using smartphones globally was 67.06% which has increased to 78.05% in 2020. Along with this, according to Invest India, electronic systems manufacturing industry in India is growing rapidly; the global share of India in consumer electronics manufacturing industry in 2012 was 1.3 percent and this number increased to 3.6 percent in 2019. However, the poor quality of products manufactured is restraining the market growth of the market over the forecast period.

The key regions considered for the Global Electronic Contract Manufacturing And Design Services Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Due to the expansion of outsourcing activities in these regions, Asia-Pacific is predicted to increase at the fastest rate, followed by North America. Asia-Pacific also had the greatest market share in 2021 and is anticipated to continue to grow at the quickest rate throughout the projected period. The primary factors anticipated to encourage the expansion of the local electronic contract manufacturing services market are the widespread availability of raw materials and inexpensive labour.

Major market players included in this report are:
Benchmark Electronics Inc.
Celestica Inc.
Compal Electronics Inc.
Creating Technologies LP
Flextronics International Ltd.
Hon Hai Precision Industry Co. Ltd.
Jabil Circuit Inc.
Plexus Corporation
Fabrinet
Venture Corporation Limited.

Recent Developments in the Market:
 A Taiwanese company named Compal Electronics, Inc. received approval in February 2022 to purchase 65% of the stock in Poindus System Corporation, a maker of hardware for Point-of-Sale (POS) systems. With this acquisition, Compal Electronics hopes to broaden its product offering and market reach.

Global Electronic Contract Manufacturing and Design Services Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Service, End-use, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Service offerings of key players.

The detailed segments and sub-segment of the market are explained below:
By Service:
Electronic design & engineering
Electronics assembly
Electronic manufacturing
Others

By End-use:
Healthcare
Automotive
Industrial
Aerospace & Defense
IT & Telecom
Power & Energy
Consumer Electronics
Others

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Companies Mentioned

Benchmark Electronics Inc.
Celestica Inc.
Compal Electronics Inc.
Creating Technologies LP
Flextronics International Ltd.
Hon Hai Precision Industry Co. Ltd.
Jabil Circuit Inc.
Plexus Corporation
Fabrinet
Venture Corporation Limited.

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