Electronic Contract Manufacturing And Design Services Market Size, Share & Trends Analysis Report By Service (Electronic Design Engineering, Electronic Assembly), By End-Use (Healthcare, Consumer Electronics), By Region, And Segment Forecast, 2023 - 2030

Electronic Contract Manufacturing And Design Services Market Size, Share & Trends Analysis Report By Service (Electronic Design Engineering, Electronic Assembly), By End-Use (Healthcare, Consumer Electronics), By Region, And Segment Forecast, 2023 - 2030

Electronic Contract Manufacturing And Design Services Market Growth & Trends

The global electronic contract manufacturing and design services market size is expected to reach USD 1,062.7 billion by 2030, expanding at 9.7% CAGR from 2023 to 2030, according to a new study by Grand View Research, Inc. The electronics industry remains extremely competitive, due to the rising complexity of electronic goods and soaring pressure on Original Equipment Manufacturers (OEMs) to decrease costs. Moreover, diminished product lifecycles have upped the demand for better manufacturing abilities and related services. OEMs are seeking collaboration with contract manufacturers to support quality manufacturing, which will drive market growth during the forecast period.

OEMs work under a subcontract with Electronic Manufacturing Services (EMS) firms and profit from their knowledge of design, production, and supply chain management. This enables OEMs to concentrate on their core strengths owing to lower initial investments and higher operational savings. The need for electronic contract manufacturing and design services by OEMs has expanded in recent times. In addition, establishing in-house manufacturing facilities is a significant challenge for the majority of OEMs. As a result, outsourcing remains a popular option for OEMs to gain an edge amidst the increasing competition.

Due to increased demand from end-use industries like healthcare, aerospace, defense, IT, telecom, and automotive; the market is expected to undergo considerable expansion. For instance, due to the rising need for medical gadgets, the healthcare sector is anticipated to expand significantly. The Indian medical device industry grew at a CAGR of 15% from 2020 to 2023. The rising technological advancements and the need for optimizing resources in manufacturing facilities have led to increased adoption of EMS among end-use industries.

Electronic Contract Manufacturing And Design Services Market Report Highlights

• The electronic contract manufacturing and design services industry is expected to witness healthy growth, owing to the rising need for resource optimization and growing developments in manufacturing technology
• The electronic manufacturing segment accounted for the largest market share in 2022. However, the electronic design & engineering services segment is projected to witness robust growth during the forecast period, owing to the surging inclination of OEMs towards outsourcing manufacturing and designing services
• Based on end-use, the IT and telecom sectors held the dominant revenue share in 2022. However, non-technical sectors such as healthcare, automotive, and industrial are expected to witness noteworthy growth during the forecast period, owing to rising outsourcing trends in these industries
• Asia Pacific accounted for a 46.1% share of the overall revenue in 2022 and is expected to dominate the market during the forecast period, owing to the high availability of raw materials and low-cost labor in the region
• The adoption of inorganic growth strategies such as company acquisition and increased focus on research and development activities are strategies implemented for the market growth

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