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Global Electronic Contract Manufacturing Market Size Study, by Services, by End-Use, and Regional Forecasts 2024-2032.

Global Electronic Contract Manufacturing Market Size Study, by Services, by...

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Global Electronic Contract Manufacturing Market Size Study, by Services, by End-Use, and Regional Forecasts 2024-2032.
Global Electronic Contract Manufacturing Market...
Report Code
RO11/103/1659

Publish Date
06/Nov/2024

Pages
200
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The Global Electronic Contract Manufacturing Market was valued at approximately USD 565.06 billion in 2023 and is expected to grow at a healthy CAGR of 9.7 % over the forecast period from 2024 to 2032. The industry is witnessing significant growth, driven by the increasing trend of outsourcing manufacturing processes to specialized third-party manufacturers. OEMs across sectors, particularly in consumer electronics, healthcare, automotive, and industrial sectors, are increasingly relying on ECM service providers to handle their manufacturing needs. ECM providers offer a broad spectrum of services ranging from design and prototyping to assembly, testing, and logistics, thereby enabling OEMs to reduce capital expenditure, speed up product launches, and improve operational efficiencies.

One of the key factors driving the market is the rising demand for electronic gadgets such as smartphones, tablets, and wearables, which necessitate efficient and scalable production solutions. Additionally, the healthcare sector is set to witness robust growth owing to the increasing demand for advanced medical devices. With stringent regulatory requirements and the need for precise engineering, OEMs in this sector are increasingly outsourcing production to ECM companies to focus on innovation and accelerate their R&D activities.

However, the market faced certain challenges during the COVID-19 pandemic. Lockdowns, supply chain disruptions, and labor shortages led to temporary shutdowns in manufacturing facilities, which negatively impacted production. Companies like Benchmark Electronics reported productivity losses during this period. Nonetheless, as economies reopen and production ramps up, the market is expected to recover steadily.

Regionally, Asia-Pacific dominates the global ECM market, holding the largest revenue share in 2023 and is poised to continue its leadership throughout the forecast period. The region benefits from the mass availability of raw materials, low labor costs, and a strong electronics manufacturing ecosystem, particularly in China. North America is also expected to witness significant growth, driven by healthcare and automotive industries, which require high-quality, low-volume products.

Major market players included in this report are:
Flextronics International Ltd.
Benchmark Electronics Inc.
Celestica Inc.
Compal Electronics Inc.
Plexus Corporation
Creating Technologies LP
Hon Hai Precision Industry Co. Ltd.
Jabil Circuit Inc.
Fabrinet
Venture Corporation Limited
Sanmina Corporation
Foxconn Technology Group
Pegatron Corporation
Wistron Corporation
BYD Electronic International Co., Ltd.
The detailed segments and sub-segments of the market are explained below:
By Services:
Electronic Design & Engineering
Electronic Assembly
Electronic Manufacturing
Others
By End-Use:
Healthcare
Automotive
Industrial
Aerospace & Defense
IT & Telecom
Power & Energy
Consumer Electronics
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
RoMEA
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

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