The "Electronics Contract Manufacturing and Design Services: The Global Market" report has been added to ResearchAndMarkets.com's offering. Global Electronics Contract Manufacturing and Design Service...
DUBLIN: The "Electronics Contract Manufacturing and Design Services: The Global Market" report has been added to ResearchAndMarkets.com's offering.
Global Electronics Contract Manufacturing and Design Services Market is projected to reach a value of $847.2 billion by 2028 from $564.4 billion in 2023, growing at a CAGR of 9%
The scope of this report includes an overview of the global electronics contract manufacturing (ECM) and design services market as well as an analysis of this global market's trends. The report considers 2022 to be the base year for its data, and it provides estimates and CAGR projections for the forecast period from 2023 through 2028. Revenue forecasts for this period are segmented based on application provider, type, application, and geography.
Electronics contract manufacturers (ECMs) are companies that produce goods for original equipment manufacturers (OEMs) and sometimes offer design services too. The practice of using contract manufacturers has been on the rise since the late 1980s. The range of services that contract manufacturers provide are collectively known as electronics manufacturing services (EMS), and they include component purchasing, circuit board assembly, final assembly and testing. Historically, the major players in EMS were U.S. and Canada-based firms with global operations, and they served OEMs across various product segments.
In the past few years, Hon Hai Precision Industry Co. Ltd., a Taiwan-based company with extensive production facilities worldwide, has emerged as the industry's dominant player. Its prominence is partly due to the substantial orders it received from Apple for manufacturing the iPod and iPhone product lines.
Electronics contract manufacturers serve a growing range of the electronics product market, which includes personal computers and servers, internet routers and switching gears, communications equipment (including mobile phones), consumer products such as computer games and televisions, industrial and automotive electronics, and space and aircraft electronics.
The IoT has emerged as a transformative technology, propelling the electronics contract manufacturing and design services market forward. IoT devices are equipped with sensors and internet connectivity, enabling them to gather and exchange data autonomously. This technology has gained significant momentum in recent years, thanks to its potential to revolutionize industries and improve everyday life. The increasing adoption of smart home devices, wearable gadgets, industrial IoT solutions and connected vehicles has contributed to the rising demand for electronics in the market.
Unfortunately, geopolitical risks pose significant challenges to the ECM industry, primarily due to its global nature. Contract manufacturers often engage in cross-border transactions, with the sourcing of raw materials, components and equipment from various countries, and the final assembly and distribution of products across different regions.
As a result, the industry is exposed to geopolitical uncertainties, trade disputes and regulatory changes that can have far-reaching impacts on supply chain dynamics and production activities. On a positive note, as 5G networks are being rolled out globally, there is a rising demand for 5G-enabled devices, which has opened up ample market opportunities for electronics contract manufacturers.
The report also offers an in-depth analysis of the competitive landscape within the ECM and design services market, focusing on the key dynamics that drive success. It examines critical factors such as research and development capabilities, market presence, brand strength and the influence of ecosystems and partnerships.
Additionally, the report assesses the impact of the COVID-19 pandemic on the market, considering the challenges and opportunities that have emerged as a result.
|No. of Pages||335|
|Forecast Period||2023 - 2028|
|Estimated Market Value (USD) in 2023||$564.4 Billion|
|Forecasted Market Value (USD) by 2028||$847.2 Billion|
|Compound Annual Growth Rate||9.0%|
Emerging Technologies and Developments
For more information about this report visit https://www.researchandmarkets.com/r/ngf8og
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Fonte: Business Wire
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