New York, United States , May 22, 2023 (GLOBE NEWSWIRE) -- The Global Electronic Contract Manufacturing and Design Services Market Size is to grow from USD 496.43 Billion in 2022 to USD 1,207.98 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 9.3% during the forecast period.
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Electronic Contract Manufacturing and Design Services (ECM/EMS) involve outsourcing electronic product design, development, and manufacturing processes to a third-party company. ECM/EMS providers offer design, prototyping, sourcing, manufacturing, testing, and logistics management services. They cater to various industries and help reduce costs, increase efficiency, and allow companies to focus on their core competencies. The global ECM/EMS market is expected to grow rapidly due to increasing demand for electronic products and the trend towards outsourcing manufacturing and design services.
Report Coverage
This research report categorizes the market for electronic contract manufacturing and design services market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the electronic contract manufacturing and design services market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the electronic contract manufacturing and design services market.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on "Global Electronic Contract Manufacturing and Design Services Market Size, Share, and COVID-19 Impact Analysis, By Services (Electronic Design & Engineering, Electronic Assembly, Electronic Manufacturing, and Others), By End-Use (Healthcare, Automotive, Industrial, Aerospace & Defense, IT & Telecom, Power & Energy, Consumer Electronics, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032)." Get Detailed Report Description Here:
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The electronic design & engineering segment is expected to grow at a CAGR of 10.1% during the forecast period.
Based on service, the global electronic contract manufacturing and design services market is segmented into electronic design & engineering, electronic assembly, electronic manufacturing, and others. The electronic design & engineering segment is projected to witness higher growth during the forecast period in the Electronic Contract Manufacturing and Design Services (ECM/EMS) market. This growth is attributed to the increasing demand for customized and innovative electronic products that require specialized design and engineering expertise. As the complexity of electronic products continues to increase, companies are seeking out ECM/EMS providers that can offer advanced design capabilities, such as rapid prototyping, simulation, and testing. Additionally, the growing trend towards smart homes, connected devices, and the Internet of Things is driving demand for advanced electronic design and engineering services.
The healthcare segment is expected to grow at a CAGR of around 9.7% during the forecast period.
Based on end-use, the global electronic contract manufacturing and design services market is segmented into healthcare, automotive, industrial, aerospace & defense, IT & telecom, power & energy, consumer electronics, and others. The healthcare segment is expected to see significant growth in the electronic contract manufacturing and design services (ECM/EMS) market due to the increasing demand for advanced medical devices and equipment. As the global population continues to age and healthcare systems become more advanced, the demand for electronic medical devices, diagnostic equipment, and monitoring systems is expected to rise. Additionally, the increasing prevalence of chronic diseases and the need for remote monitoring and telehealth solutions are driving demand for advanced electronic healthcare devices.
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North America is predicted to grow at a higher CAGR of around 10.4% over the projected period.
Based on region, North America is expected to see significant growth in the Electronic Contract Manufacturing and Design Services (ECM/EMS) market during the forecast period. This growth is driven by several factors, including the increasing demand for electronic products in the region, particularly in the aerospace, defense, and medical device industries. Additionally, the trend towards nearshoring and reshoring manufacturing processes is creating opportunities for ECM/EMS providers in the region. Furthermore, the region is home to many innovative companies and start-ups in the technology sector, which are increasingly outsourcing their manufacturing and design processes. Finally, the region benefits from a skilled workforce, robust infrastructure, and strong intellectual property protections, making it an attractive location for outsourcing services.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global electronic contract manufacturing and design services market include Foxconn Technology Group, Flex Ltd., Jabil Inc., Sanmina Corporation, Celestica Inc., Benchmark Electronics, Inc., Plexus Corp., Wistron Corporation, New Kinpo Group, Inventec Corporation, Venture Corporation Limited, Compal Electronics, Inc., Universal Scientific Industrial Co., Ltd., Kimball Electronics, Inc., Vexos Inc., Delta Group, and Zollner Elektronik AG.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global electronic contract manufacturing and design services Market based on the below-mentioned segments:
Electronic Contract Manufacturing and Design Services Market, By Service
- Electronic Design & Engineering
- Electronic Assembly
- Electronic Manufacturing
- Others
Electronic Contract Manufacturing and Design Services Market, By End-Use
- Healthcare
- Automotive
- Industrial
- Aerospace & Defense
- IT & Telecom
- Power & Energy
- Consumer Electronics
- Others
Electronic Contract Manufacturing and Design Services Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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