Global Electronic Contract Assembly Market Research, By Service (Electronic Design & Engineering, Electronic Assembly, Electronic Manufacturing), End-User (Aerospace, Industrial/Automation, Semiconductor/Robotics, Government, IT & Telecom) – Forecast till 2023
Market Analysis
The global electronic contract assembly market is predicted to touch USD 157 billion at a 10% CAGR over the forecast period (2017-2023), states the new Market Research Future (MRFR) report. Electronic contract assembly is provided by companies which design, assemble, manufacture, and distribute electronic test components as well as printed circuit board assemblies. They also offer repair/return services for such electronic assemblies and components for original equipment manufacturers. Electronic contract assembly has a wide range of applications including IT and telecommunication, consumer electronics, aerospace and defense, automotive, and medical.
Various factors are propelling the electronic contract assembly market growth. These factors, as specified by the Market Research Future (MRFR) report, include a high proportion of new start-up businesses, growing demand for consumer electronics, the introduction of new technologies and products, and growing demand for medical and automotive electronics. Additional factors pushing market growth include the proliferation of smartphones and tablets, high penetration of electronic contract assembly suppliers, and the growing semiconductor industry.
On the contrary, the complex installation technique, absence of command over manufacturing, loss of intellectual properties, and quality concerns are factors that may impede the electronic contract assembly market growth over the forecast period.
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Segmentation
The Market Research Future report provides a wide segmental analysis of the electronic contract assembly market based on end user and service.
Based on service, the electronic contract assembly market is segmented into electronic manufacturing, electronic assembly, electronic design and engineering, and others. Of these, the electronic manufacturing sector will have the largest share in the market over the forecast period.
Based on end user, the electronic contract assembly market is segmented into IT and telecom, government, semiconductor/robotics, industrial/automation, aerospace, and others. Of these, the IT and telecom sector will dominate the market over the forecast period.
Regional Analysis
Based on the region, the Electronic Contract Assembly Market report covers growth opportunities and the latest trends across the Asia Pacific (APAC), North America, Europe, and the Rest of the World (RoW). Of these, North America will remain the frontrunner in the market over the forecast period. The US is the key contributor here, owing to the presence of several key players along with various technological advancements. Burgeoning demand for smartphones and consumer electronics is also boosting the market growth. Currently, the market in the US is dominated by the industrial, telecommunications, and aerospace sectors.
The electronic contract assembly market in Europe is predicted to have significant growth over the forecast period. This is owing to the growing demand for electronic contract assembly in the semiconductor and electronics industry and the presence of several medical electronics and industrial electronics providers. Italy, France, Germany, and the UK are the key contributors here. They are investing heavily in R&D of advanced semiconductor technologies, triggering steady market growth in this region.
The electronic contract assembly market in the APAC region is predicted to grow at the fastest pace over the forecast period. This is owing to an increase in outsourcing activities. China is the key contributor here owing to low-cost labor and mass availability of raw materials.
Key Players
Leading players profiled in the electronic contract assembly market report include Plexus Corporation (US), Jabil Circuits Inc (US), Hon Hai Precision Industry Co Ltd (Taiwan), Flex Ltd (Singapore), Fabrinet (Thailand), Creation Technologies LP (Canada), Compal Electronics Inc (Taiwan), Celestica Inc (Canada), Benchmark Electronics Inc (US), and Altadox Inc (US). Along with these, other players in the market include AsteelFlash Group (France), Kimball Electronics Group (US), Orient Semiconductor Electronics (Taiwan), UMC Electronics Co Ltd (Japan), Sumitronics (Japan), Beyonics Technology (Singapore), Zollner Elektronik (Germany), SIIX (Japan), Elcoteq (Luxembourg), Venture (Singapore), Universal Scientific Industrial Co Ltd (Taiwan), Shenzhen Kaifa Technology (China), New Kinpo Group (Taiwan), and Sanmina SCI (US).
July 2019: Festo has launched a highly compact slide unit, the DGST, along with a range of guided cylinders and compact cylinders to offer the perfect drive combination for compact assembly systems. In testing and assembly applications, medical and laboratory automation, and electronics assembly, compactness is key. Considering this, the company has introduced these products to cater to the needs of the consumers.
LIST OF TABLES
Table 1 Electronic Contract Assembly Market, By Region, 2018–2023
Table 2 North America: Electronic Contract Assembly Market, By Country, 2018–2023
Table 3 Europe: Electronic Contract Assembly Market, By Country, 2018–2023
Table 4 Asia-Pacific: Electronic Contract Assembly Market, By Country, 2018–2023
Table 5 Middle East & Africa: Electronic Contract Assembly Market, By Country, 2018–2023
Continued…….
LIST OF FIGURES
FIGURE 1 Global Electronic Contract Assembly Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Electronic Contract Assembly Market
FIGURE 4 Value Chain Of Global Electronic Contract Assembly Market
FIGURE 5 Share Of Global Electronic Contract Assembly Market In 2017, By Country (In %)
Continued……
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