Market Research Report
Electronics Contract Manufacturing & Design Services - Global Market Outlook (2019-2027)
|Electronics Contract Manufacturing & Design Services - Global Market Outlook (2019-2027)|
Published: July 1, 2020
Stratistics Market Research Consulting
Content info: 144 Pages
Delivery time: 2-3 business days
According to Stratistics MRC, the Global Electronics Contract Manufacturing & Design Services Market is accounted for $422.19 billion in 2019 and is expected to reach $905.01 billion by 2027 growing at a CAGR of 10.0% during the forecast period. Growing functionalities such as component assembly, engineering and design of printed circuit boards, and sub-assembly manufacturing are some of the major factors propelling the growth of the market. However, the rising concern associated with the quality of the manufacturing product is hampering the growth of the market.
Electronics contract manufacturing & design services companies test, manufacture, distribute as well as provide return or repair services for the electronic components and assemblies for original equipment manufacturers (OEM). Electronics contract manufacturers use a wide range of productive functions about component design, assembly of circuit board and hardware, product engineering, process engineering, procurement, product fulfilment, distribution as well as after-sales services. Outsourcing in the electronics industry has evolved considerably during the past few years. The outsourcing providers manufacture specific products on a contract basis. Through the economies of scale across contracts, the contract manufacturers can use operational expertise, cheap labor and more buying power which in turn leads to the low cost of production.
Based on the end-user, the healthcare segment is going to have a lucrative growth during the forecast period owing to the rise in demand for medical devices. These include computed tomography scanner assemblies, blood analyzers, ultrasound imaging systems, and blood glucose meters. The manufacturing of medical devices requires advanced technology and strict regulatory compliance. Thus, outsourcing such activities enables OEMs to accelerate its R&D activities, and to reduce the cost of devices to gain competitive advantage, which is expected to spur market growth.
By geography, Asia Pacific is anticipated to hold considerable market share during the forecast period due to the high availability of raw materials and low-cost labor in the region. China accounted for the maximum share in the region due to the upsurge from the healthcare industry. The Asia-Pacific region is also anticipated to grow owing to the increasing number of outsourcing activities in the region.
Some of the key players profiled in the Electronics Contract Manufacturing & Design Services Market include Benchmark Electronics, Inc, Celestica, Inc, Compal Electronics, Inc, Creating Technologies LP, Fabrinet, Flextronics International, Ltd, Hon Hai Precision Industry Co., Ltd, Jabil Circuit, Inc, Plexus Corporation, Sanmina Corporation, and Venture Corporation Limited.
End Users Covered:
What our report offers:
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options: