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Electronic Contract Manufacturing and Design Services Market 2022 Industry Size, Analysis Addressing Potential, Business Revenue, Upcoming Challenges, Scope & Growth Factors

Electronic Contract Manufacturing and Design Services Industry Overview

The global electronic contract manufacturing and design services market size was valued at USD 478.3 billion in 2021 and is expected to expand at a CAGR of 9.5% from 2022 to 2030. 

The growing functionalities, such as component assembly, engineering & design of printed circuit boards, sub-assembly manufacturing, and functional testing offered by contract manufacturers, are subsequently expected to drive the contract manufacturing services market growth over the forecast period. Electronic contract manufacturing is a form of engineering and manufacturing outsourcing services that provides a wide range of core manufacturing capabilities. Moreover, outsourcing ancillary activities helps OEMs focus on their core competencies, improving operational efficiencies, reducing production costs, and reducing capital investment requirements.

Gather more insights about the market drivers, restrains and growth of the Global Electronic Contract Manufacturing and Design Services Market

In the initial phase of the pandemic, the electronic manufacturing factories were significantly affected due to travel restrictions and imposed lockdown by the various governments worldwide. Since the risk of infection was high, workers were reluctant to come to work which led to delays in production. For Instance, operations of U.S.-based Benchmark Electronics, Inc. were negatively affected worldwide as its facilities were shut down in 2020, resulting in a loss of productivity. The supply chain environment and delays in shipments also hampered the company’s growth during the period.

The electronic contract manufacturing and design services model is driven by a contract manufacturer’s ability to specialize in economies of scale in services, industrial design expertise, raw materials procurement, and pooling resources along with offering value-added services such as warranties and repairs. These allow OEMs to avoid having to run tedious or complex large-scale industrial operations. Moreover, OEMs outsource their circuit assembly requests to reduce time-to-volume and time-to-market production through the utilization of technology solutions, design and engineering services, and manufacturing services by electronic contract manufacturing and design services providers. On account of these factors, the electronic contract manufacturing services market is expected to gain traction during the forecast period.

The proliferation of mobile devices, such as tablets and smartphones, has been the key propeller of the electronic contract manufacturing and design services market over the last few years. The medical industry is anticipated to witness significant growth owing to the increasing demand for medical devices.  Strict regulatory compliance and advanced technology are required for the manufacturing of medical devices. Thus, outsourcing such activities enables OEMs to accelerate their R&D activities and reduce the cost of devices to gain a competitive advantage, which is expected to spur market growth.

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Electronic Contract Manufacturing and Design Services Market Segmentation

Grand View Research has segmented the global electronic contract manufacturing services market based on services, end-user, and region:

Electronic Contract Manufacturing and Design Services Outlook (Revenue, USD Billion, 2018 – 2030)

  • Electronic Design & Engineering
  • Electronics Assembly
  • Electronic Manufacturing 
  • Others

Electronic Contract Manufacturing and Design Services End-Use Outlook (Revenue, USD Billion, 2018 – 2030)

  • Healthcare
  • Automotive
  • Industrial
  • Aerospace & Defense
  • IT & Telecom
  • Power & Energy
  • Consumer Electronics
  • Others

Electronic Contract Manufacturing and Design Services Regional Outlook (Revenue, USD Billion, 2018 – 2030)

  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

Market Share Insights

  • February 2022: Taiwan-based Compal Electronics, Inc., approved to acquire of 65% shares of Poindus System Corporation, a hardware manufacturer of Point-of-Sale (POS) systems. Compal Electronics aims to increase its product portfolio and expand its market exposure with this acquisition.

Key Companies profiled:

Some prominent players in the global electronic contract manufacturing and design services market include

  • Benchmark Electronics Inc.
  • Celestica Inc.
  • Compal Electronics Inc.
  • Creating Technologies LP
  • Flextronics International Ltd.
  • Hon Hai Precision Industry Co. Ltd.
  • Jabil Circuit Inc.
  • Plexus Corporation
  • Fabrinet
  • Venture Corporation Limited.

Order a free sample PDF of the Electronic Contract Manufacturing and Design Services Market Intelligence Study, published by Grand View Research. 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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