North America Electronic Contract Assembly Market Forecast to 2028 - Regional Analysis - by Service (Electronic Design & Engineering, Electronic Assembly, and Electronic Manufacturing); and End User (Aerospace, Industrial/Automation, Semiconductor/Robotic

North America Electronic Contract Assembly Market Forecast to 2028- Regional Analysis- by Service (Electronic Design & Engineering, Electronic Assembly, and Electronic Manufacturing); and End User (Aerospace, Industrial/Automation, Semiconductor/Robotics, IT & Telecom, and Others)

The electronic contract assembly market in North America is expected to grow from US$ 46,761.83 million in 2023 to US$ 74,421.73 million by 2028. It is estimated to grow at a CAGR of 9.7 % from 2023 to 2028.

Integration of Advanced Technologies in Electronic Manufacturing is Fueling North America Electronic Contract Assembly Market

The electronic manufacturing industry is witnessing the rising adoption of cloud-based design and analysis, artificial intelligence (AI), machine learning (ML), the Internet of Things (IoT), and augmented reality (AR) in manufacturing operations. Utilizing these advanced technologies requires high capital investment, a skilled workforce, and industrial expertise. The contract assembly services help OEMs by offering flexibility to focus on core capabilities with reduced production costs and improved operational efficiencies. Owing to such benefits, various key market players in the electronic manufacturing industry are outsourcing electronic manufacturing to third-party service providers. Thus, the integration of advanced technology in electronic manufacturing is gaining popularity in recent years, which is driving the electronic contract assembly market.

North America Electronic Contract Assembly Market Overview

The electronics contract assembly market in North America is sub segmented into the US, Canada, and Mexico. Electronic products are increasingly adopted in industries such as automation, semiconductors, and IT & telecom. Electronic component providers are flourishing due to the highly competitive semiconductor industry in North America. According to Semiconductor Industry Association (SIA), in 2023, the region registered the highest increase in semiconductor production to date. Semiconductor companies in the US invest nearly one-fifth of their annual revenues in R&D.

In electronics and technology, semiconductors are vital to powering everything, such as toys, cars, smartphones, and thermostats. Semiconductors have also been instrumental in the proliferation of the electronics industry and the introduction of breakthrough technologies such as machine learning and artificial intelligence. In May 2021, chip makers, tech giants, and cloud companies in the US partnered to push semiconductor funding for launching new semiconductor products. The availability of such robust funding for semiconductor chips would help the US build the surplus capacity required to have sturdier supply chains to ensure access to different technologies when needed.

North America Electronic Contract Assembly Market Revenue and Forecast to 2028 (US$ Million)

North America Electronic Contract Assembly Market Segmentation

The North America electronic contract assembly market is segmented into service, end user, and country.

Based on services, the North America electronic contract assembly market is segmented into electronic design & engineering, electronic assembly, and electronic manufacturing. The electronic manufacturing segment registered the largest market share in 2023.

Based on end user, the North America electronic contract assembly market is segmented into aerospace, industrial/automation, semiconductor/robotics, IT and telecom, and others. the industrial/automation segment held the largest market share in 2023.

Based on country, the North America electronic contract assembly market has been categorized into the US, Canada, and Mexico. The US dominated the market share in 2023.

Benchmark Electronics Inc; Celestica Inc; Creation Technologies LP; Fabrinet Co Ltd; Flex Ltd; Jabil Inc; Matric Group Inc; and Precision Manufacturing Company Inc are the leading companies operating in the electronic contract assembly market in the region.

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