Global Electronic Contract Manufacturing And Design Services Market Analysis: Size, Drivers, Trends, Opportunities And Strategies
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033
The electronic contract manufacturing and design services market has experienced robust growth in recent years, driven by globalization, increasing complexity of electronic products, time-to-market pressures, and the quest for cost reduction. With the market projected to reach $537.68 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%, and further expanding to $796.8 billion by 2028 at a CAGR of 10.3%, it’s evident that the landscape is evolving rapidly.
Consumer Electronics Boom Sparks Growth In Electronic Contract Manufacturing And Design Services
The burgeoning demand for consumer electronics is a significant catalyst propelling the electronic contract manufacturing and design services market forward. As the appetite for devices such as smartphones, laptops, and tablets continues to soar, the need for outsourcing electronics components rises. This demand reduction enables operational efficiency in manufacturing, driving market growth significantly. For example, the Indian appliances and consumer electronics market is anticipated to more than double in the next five to six years, reaching up to $26.81 billion, according to CEAMA.
Industry Embraces Strategic Collaborations Driving Growth
Strategic partnerships and collaborations have become key strategies adopted by players in the electronic contract manufacturing and design services market. This trend stems from the desire to extend growth in new areas and assert leadership in the market. For instance, BioSig Technologies, Inc., and Plexus Corp. formed a strategic partnership for the commercialization and development of a new biomedical signal processing platform, underscoring the industry’s focus on innovation and collaboration.
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Compal Electronics Expands Into Industrial Computing
In March 2022, Compal Electronics, Inc., ventured into industrial computing with the acquisition of Poindus Systems Corp. This strategic move positions Compal Electronics to enter the industrial computing (IPC) industry, leveraging Poindus’ technology, production capacity, and procurement expertise. Poindus Systems Corp., known for its one-stop POS terminal hardware, brings valuable assets to Compal Electronics, enhancing its capabilities and benefiting both the group and its clients.
Market Segmentation and Regional Outlook
The electronic contract manufacturing and design services market is segmented by type, application, and end-user. Types include designing, assembly, manufacturing, and other services, catering to various applications such as consumer electronics, electronic components, computers & peripherals, and industrial electronics. End-users span across industries like healthcare, automotive, aerospace and defense, IT and telecom, and more.
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The Electronic Contract Manufacturing And Design Services Global Market Report 2024 provides an overview of the electronic contract manufacturing and design services market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The electronic contract manufacturing and design services market forecast analyzes electronic contract manufacturing and design services market size, electronic contract manufacturing and design services market share, leading competitor and their market positions.
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