Major Players of Contract Electronic Design and Manufacturing Services Market are Flex Ltd., Hon Hai Precision Industry Co., Ltd., Benchmark Electronics, Celestica Inc, Venture Corporation Limited, Fabrinet, Plexus Corp.
New York, July 6. 2022 (GLOBE NEWSWIRE) — Reportlinker.com Announces Release of “Electronic Contract Manufacturing and Design Services Global Market Report 2022” – https://www.reportlinker.com/p06282384/?utm_source=GNW
Sanmina Corporation, Compal Electronics, Inc., Universal Scientific Industrial Co Ltd, New Kinpo Group, Creating Technologies LP, shenzhen kaifa technology, LCS Company and Bassett Industries, Inc.
The global contract electronics manufacturing and design services market is expected to grow from $409.85 billion in 2021 to $453.68 billion in 2022 at a compound annual growth rate (CAGR) of 10.69%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which had previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities that resulted in operational challenges. The market is expected to reach $702.53 billion in 2026 with a CAGR of 11.55%.
The e-contract manufacturing and design services market includes sales of e-contract manufacturing and design services by entities (organizations, individual merchants, and partnerships) that refer to a set of activities carried out to manufacture and design electronic devices. The services market includes technical design of electronic devices, manufacturing of assemblies, functional testing of devices, distribution and fulfillment of orders on behalf of OEMs (Original Electronic Manufacturers).
The complexity and wide variety of electronic devices make OEMs choose electronics contractors to outsource their products for efficient manufacturing process and focus on internal operation such as new product development with higher complexity and higher margins.
The electronic contract manufacturing and design services market is segmented by Type into Design; Assembly; manufacturing; others. These are used in various applications such as consumer electronics; Electronic components; computers and peripherals; industrial electronics; others; used by various end-user industries, including healthcare; automobile; industrial; aerospace and defense; IT and telecom; power and energy; consumer electronics; others.
Asia-Pacific was the largest region in the electronics manufacturing and design services market in 2021. Asia-Pacific is expected to be the fastest growing region during the forecast period.
Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Rising demand for consumer electronics is contributing significantly to the growth of electronic contract manufacturing and design services market. Consumer electronics is the instrument, machinery, and devices used daily by end users or consumers, which provide one or more features in a dwelling or home for business or personal use.
Consumer electronics includes televisions, computers, laptops, smartphones or watches, and tablets. and increases operational efficiency in manufacturing.
For example, according to the Consumer Electronics and Appliances Manufacturers Association (CEAMA), India’s home appliances and consumer electronics market is expected to more than double over the next five to six years to reach $26.81 billion. Additionally, according to ClearSale, revenue from the consumer electronics segment is expected to increase by over US$365 billion in 2020 and over US$450 billion by 2024. Therefore, the increase in consumer electronics demand is driving the growth of electronic contracts. manufacturing and design services.
Strategic partnerships and collaborations are the major trends followed by companies operating in the electronic contract manufacturing and design services market. This is due to the presence of a large number of electronic manufacturing companies operating in the market and expanding their growth into new areas. to be a market leader.
For example, in September 2021, BioSig Technologies, Inc., a US medical device company, and Plexus Corp, a US contract electronics manufacturing company, formed a technology and strategic partnership for the commercialization and development of a new biomedical signal processing platform, which provides a full range of applications in the treatment of arrhythmia for NeuroClear Technologies, a subsidiary of BioSig.
In March 2020, Universal Scientific, a China-based electronic design and manufacturing services company, acquired Asteelfash Group for an undisclosed amount. Through this acquisition, Universal Scientific aims to expand its manufacturing sites and operational systems overseas to meet the needs of the European and US market. .
Asteelfash Group is a French multinational electronics contract manufacturing company.
The countries covered in the Electronic Contract Manufacturing and Design Services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia , South Korea, the United Kingdom and the United States.
Read the full report: https://www.reportlinker.com/p06282384/?utm_source=GNW
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