Increasing functionalities, such as component assembly, sub-assembly manufacturing, engineering and design of printed circuit boards, and functional testing provided by contract manufacturers, are subsequently projected to boost the market over the forecast period.
The global electronic contract manufacturing and design services market accounted for US$ 417.0 billion in 2019 and is estimated to be 731.73 billion by 2026 and is anticipated to register a CAGR of 8.5%. The report. “Global Electronic Contract Manufacturing and Design Services Market, By Service (Electronic Design & Engineering, Electronics Assembly, Electronic Manufacturing, and Others), By Type (Designing, Assembly, and Manufacturing), By End- User (Healthcare, Automotive, Industrial, Aerospace & Defense, IT & Telecom, Power & Energy, Consumer Electronics, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Trends, Analysis and Forecast till 2026”.
- In October 2018, Kimball Electronics, Inc. declared that they have acquired GES Holdings, Inc. in order to expand them above EMS by using new capabilities and technologies to a multifaceted manufacturing solutions company. This will also help both the companies to meet the requirements and needs of the market and upsurge their customer reach.
- In May 2019, Celestica Inc. declared that they are going to acquire Manufacturers’ Services Ltd. in order to expand their business. This will help the company to improve their integrated services and solutions. This will also help the company to add high speed industrial complement to their present portfolio
Increasing demand of EMS from various end users
OEMs are gaining support from electronic contract manufacturing firms. These OEMs authorize electronic manufacturing contract firms to take benefit from their supply chain management, design expertise, and industrialized capabilities. This helps the OEMs to reduce costs, leverage resources, access prominent manufacturing technologies, as well as decrease fixed capital investments and fulfil the demand of electronic contract manufacturing services. Additionally, electronic contract manufacturing also has advantage in retaining in-house actions and regulate responsibilities including, product cost management, quality assurance, network solutions integration, order management, customer service, customer interactions, and launch of new products. These factors are widely responsible for driving the global electronic contract manufacturing and design services market growth over the forecast period.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Electronic Contract Manufacturing and Design Services Market”, By Service (Electronic Design & Engineering, Electronics Assembly, Electronic Manufacturing, and Others), By Type (Designing, Assembly, and Manufacturing), By End- User (Healthcare, Automotive, Industrial, Aerospace & Defense, IT & Telecom, Power & Energy, Consumer Electronics, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Trends, Analysis and Forecast till 2026.
Key Market Insights from the report:
The global electronic contract manufacturing and design services market accounted for US$ 417.0 billion in 2019 and is estimated to be 731.73 billion by 2026 and is anticipated to register a CAGR of 8.5%. The market report has been segmented on the basis of services, type, end-user, and region.
- By services, electronic design and engineering segment is expected to register a high growth throughout the forecast period due to the growing inclination of OEMs towards outsourcing their designing requirements. The electronic contract manufacturing & design services market is witnessing a huge demand for electronic circuit boards owing to increasing importance in several electronic devices, such as smartphones and tablets.
- By type, the target market is segmented into designing, assembly, and manufacturing.
- By end-user, IT and telecom segment has gained largest demand in 2019. However, increasing outsourcing trends in the healthcare, defense, automotive, and other non-technical segments are expected to spur their market shares in the coming years.
- By region, North America is expected to register largest revenue share in the he Electronic Contract Manufacturing and Design Services market over the foreseeable future. This can be attributed due to increasing government’s initiatives to promote and improve Electronic Contract Manufacturing and Design Services in the region.
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The prominent player operating in the global electronic contract manufacturing and design services market includes Foxconn Electronics Inc., FLEX LTD, Celestica Inc., Kimball Electronics, Inc., Asteelflash Group, Benchmark Electronics, Venture Corporation Limited, ACTIA Group, Zollner Elektronik, and KeyTronicEMS.
The market provides detailed information regarding industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included into the report.
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