SEP 07 2020: The global Electronic
Contract Manufacturing and Design Services market size is expected to
reach USD 788.9 billion by 2027, registering a CAGR of 8.5% over the forecast
period, according to a new study by Grand View Research, Inc. The electronics
industry is highly competitive in nature owing to the increasing complexity of
electronic products and rising pressure on OEMs for reducing costs. Moreover,
decreased product lifecycles have upped the demand for better contract
manufacturing capabilities and related services. To achieve the same, OEMs are
seeking support from contract manufacturers, which in turn, is driving the
market over the forecast period.
OEMs subcontract with Electronics Manufacturing
Service (EMS) companies and benefit from their expertise in design,
manufacturing, and supply chain management. Furthermore, reduced initial
investments and increased operational efficiencies allow OEMs to focus on their
core competencies. This has led to surging demand for electronic contract
manufacturing and design services by OEMs. Moreover, the establishment of
in-house manufacturing units is a key challenge faced by majority of OEMs. Thus
outsourcing is a preferred option to keep pace with increasing competition.
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The market is projected to witness significant
growth due to rising demand from end-use industries, including healthcare,
aerospace and defense, IT and Telecom, and automotive. The healthcare industry
is expected to witness substantial growth owing to the increasing demand for
medical devices. Surging need for optimizing resources and technological
developments in manufacturing facilities have led to increased adoption of EMS
among end-use industries.
Asia Pacific dominated the market in 2019 and is
anticipated to account for largest market share over the forecast period. This
is attributed to availability of low-cost labor and raw materials in the
region. China accounted for more than 33% share in 2019 in the region. In North
America, the growth of the market is attributed to increasing number of medical
institutes and R&D centers working on advanced diagnostic products.
Further
key findings from the report suggest:
• The market is expected to witness a healthy
growth owing to rising need for resource optimization and growing developments
in manufacturing technology
• Electronics manufacturing segment accounted for
the largest market share in 2019. However, electronics design and engineering
services segment is projected to witness highest growth rate over the forecast
period owing to surging inclination of OEMs towards outsourcing of contract
manufacturing and designing services
• On the basis of end-use, the IT and telecom
sector held the dominant revenue share in 2019. However, non-technical sectors
such as healthcare, automotive, and aerospace and defense are expected to
witness noteworthy growth over the forecast period owing to rising outsourcing
trends in these industries
• Asia Pacific accounted for over 45% share of the
overall revenue in 2019 and is expected to dominate the electronic contract
manufacturing and design services market over the forecast period owing to high
availability of raw materials and low-cost labor in the region
• Hon Hai Precision Industry Co., Ltd.; Flextronics
International, Ltd.; Jabil Circuit, Inc.; Sanmina Corporation; and Benchmark
Electronics, Inc. are some of the key market players that captured a
significant share in 2019.
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Table
of Contents
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
1.3. List of Data Sources
Chapter 2. Executive Summary
Chapter 3. Electronic Contract Manufacturing and Design Services
Industry Outlook
3.1. Market Segmentation
3.2. Market Size and Growth Prospects, 2016 - 2027
3.3. Value Chain Analysis
3.4. Market Dynamics
3.4.1. Market driver analysis
3.4.2. Market restraint analysis
3.4.3. Market opportunity analysis
3.5. Penetration and Growth Prospect Mapping
3.6. Industry Analysis - Porter's Five Forces
Analysis
3.6.1. Political Landscape
3.6.2. Environmental Landscape
3.6.3. Social Landscape
3.6.4. End-Use Landscape
3.6.5. Legal Landscape
3.7. Company Market Share Analysis, 2018
3.8. PEST Analysis
3.8.1. Political Landscape
3.8.2. Environmental Landscape
3.8.3. Social Landscape
3.8.4. Technological Landscape
Continued……….
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